IMARC Group, a leading market research company, has recently releases report titled, “Managed Print Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the global managed print services market industry, including size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
The global managed print services market size reached US$ 42.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 69.3 Billion by 2028, exhibiting a growth rate (CAGR) of 8.4% during 2023-2028.
Managed print services (MPS) are a range of tailored and integrated solutions offered by third-party service providers to manage and enhance the document output generated by organizations. They are designed to streamline the printing fleet of enterprises and can be implemented in the cloud, on-premises, or hybrid environments. They also analyze organizational processes to predict printing needs, resulting in better control and visibility of input and output. Currently, MPS is gaining immense traction across the globe as it enables organizations to reduce expenses, prevent device downtime, and optimize energy, paper, and ink consumption.
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The global managed print services market is primarily driven by rapid digitization in the banking, financial services and insurance (BFSI), education, healthcare, telecommunication, information technology (IT), and manufacturing industries. Moreover, the rising use of MPS in the BFSI sector to manage record-keeping tasks and improve printing operations is positively influencing market growth. Additionally, the increasing demand for analytics and cloud computing solutions to optimize organization resource utilization has catalyzed market growth. Furthermore, numerous technological advancements, such as the integration of connected devices with the Internet of Things (IoT) and big data solutions, are contributing to market growth. Other factors, including the surging adoption of sustainable solutions for business processes, significant improvements in IT infrastructure, and several favorable government initiatives for minimizing paper wastage in workspaces, are also anticipated to propel the market growth.
The report has segmented the market into the following categories:
Breakup by Type:
Print Management
Device Management
Discovery and Design
Document Imaging
Breakup by Deployment Mode:
On-premises
Cloud-based
Breakup by Organization Size:
Large Enterprises
Medium Enterprises
Small Enterprises
Breakup by Industry Vertical:
BFSI
Government
Healthcare and Education
Manufacturing
Retail and Consumer Goods
IT and Telecom
Others
Breakup by Region:
North America
Asia-Pacific
Europe
Latin America
Middle East and Africa
The report covers the major market players including:
ARC Document Solutions Inc.
Brother Industries Ltd.
Canon Inc.
HP Inc.
Konica Minolta Inc.
Lexmark International Inc.
Ricoh Company Ltd.
Sharp Corporation
Toshiba Corporation
WeP Solutions Ltd
Xerox Corporation.
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