The report "Managed Print Services Market
by Deployment Mode (On Premise, Cloud based, and Hybrid), Channel Type
(Printer/Copier Manufacturers, System Integrators/Resellers, and ISVs),
Application, Organization Size, and Geography - Global Forecast to 2023"
The managed print services market is projected to reach USD 50.78 billion by
2023 from USD 28.4 billion in 2016, at a CAGR of 8.51% during 2017–2023. Major
drivers for market growth are reduced cost of operation and flexibility to
match custom requirements, rising complex technological solutions, and
increasing dependency on heterogeneous networks, steep increase in the adoption
of big data solutions, organizational initiatives to reduce paper wastage, and
competent technical support by MPS providers. However, long term recurring
expenditure is the major restraint for the growth of the market.
Cloud based deployment to hold largest size of Managed Print Services
market during forecast period
In the cloud deployment mode, all
the resource operations are hosted off-site. Rather than purchasing printer or
MFP hardware, print servers, and software solutions such as print management
tools or document workflow solutions, organizations tap into these resources as
part of an outsourced MPS. The utilization of the cloud helps in addressing key
economic challenges of the print infrastructure such as costs and IT burden of
print management.
Managed Print Services market for Government application to grow at
highest CAGR during forecast period
Of all the application,
government is expected to witness the highest CAGR in the Managed Print
Services market. Shrinking budgets and rising demand for government services
are forcing the government agencies and departments to modernize their storage
infrastructure and enable vast service delivery. Also, paper-based processes
add workload and cause delayed responses. MPS in government organizations
provide advantages such as secured printing, reduced printing cost, centralized
print management, and customization in reporting. Organizations such as HP
Development Company L.P., Lexmark Corporation, and Ricoh Company Ltd. have
designed MPS solutions dedicated for government organizations.
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North America to hold the largest size of Managed Print Services market
during 2017–2023
The North America market has many
rising startups and favorable compliance and government regulations. The
enterprises in this region have a rapid growth rate and a heavy demand for
managed print services. Because of favorable government regulations, European
companies are also investing in the North America market. Further, there are
different companies in the US that are providing managed print services such as
Xerox Corporation (US), HP Development Company, L.P. (US), Lexmark
International Corporation (US), and ARC Document Solutions Inc. (US). These
companies have a strong expertise in MPS and other printing-related markets.
The North American market is in the matured state and is still growing.
Key players in the Managed Print
Services market Xerox Corporation (US), Hewlett-Packard (US), Canon Inc.
(Japan), Ricoh Company Ltd. (Japan), Lexmark Corporation (US), Konica Minolta
Inc. (Japan), Kyocera Corporation (Japan), Toshiba Corporation (Japan), Samsung
Corporation (South Korea), Sharp Corporation (Japan), and ARC Document
Solutions (US).
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