Managed Print and Document Services (MPDS) Market was valued at USD 35.5 Billion in 2022 and is projected to reach USD 60.5 Billion by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
As we moved into 2023 and beyond, demand for MPDS is expected to increase, fueled by the continued digitalization of business operations. The growing adoption of hybrid work models, combined with rising security concerns, has accelerated the need for efficient document management solutions that offer both flexibility and security. The shift towards remote work has led businesses to seek solutions that not only support printing needs but also optimize document workflow and ensure secure access to sensitive data. Additionally, sustainability has become a key focus for businesses, driving a push towards reducing paper waste, energy consumption, and carbon footprints. This evolving landscape presents a lucrative opportunity for MPDS providers to innovate further and offer customized solutions tailored to the specific needs of businesses across various industries.
With the ongoing evolution in MPDS, key trends to look out for in the 2023-2033 period include greater automation, AI-powered document management solutions, and the integration of Internet of Things (IoT) for real-time monitoring and optimization of print infrastructure. Furthermore, the growing importance of data security in the face of cyber threats has led to an increased demand for secure printing solutions that provide better access control and encryption. Businesses are also placing higher importance on scalable solutions that allow for greater flexibility as their operations expand and diversify.
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The Managed Print and Document Services (MPDS) market has undergone significant transformations between 2018 and 2022, driven by several factors including technological advancements, cost-efficiency demands, and sustainability initiatives. During this period, businesses increasingly recognized the value of outsourcing their print services to enhance operational efficiency and reduce overhead costs. Moreover, the need for secure document management and streamlined workflows also propelled the demand for MPDS solutions. Companies such as Xerox, Ricoh, and Canon became key players in providing comprehensive MPDS offerings, integrating both hardware and software to optimize document handling processes. The market's growth was further supported by businesses' growing dependence on cloud technologies and data analytics, which helped in improving decision-making and resource allocation in print environments.
HP
Xerox
Lexmark
Toshiba
Brother
Ricoh
DXC Technology
Fujitsu
KONICA MINOLTA
Canon
Epson
Sharp Electronics
ARC Document Solutions
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Managed Print and Document Services (MPDS) Market
BFSI
Education
Government
Healthcare
Industrial Manufacturing
Retail & Consumer goods
Telecom & IT
Others
Based on Types the Market is categorized into Below types that held the largest Managed Print and Document Services (MPDS) market share In 2023.
Cloud-based
On-premise
Hybrid
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Managed Print and Document Services (MPDS) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Managed Print and Document Services (MPDS) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Managed Print and Document Services (MPDS) Market, By Type
6. Global Managed Print and Document Services (MPDS) Market, By Application
7. Global Managed Print and Document Services (MPDS) Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Managed Print and Document Services (MPDS) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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