Managed print services refer to outsourcing all print-related work for a company to cut costs and boost efficiency. These services are offered by an external provider to optimize or manage a company's document output.
The managed print services market consists of sales of managed print services by entities (organizations, sole traders and partnerships) specializing in offering consultancy and management services focused on optimizing print infrastructure and operations. These services aim to enhance cost-efficiency, productivity and sustainability in print-related activities while aligning with organizational objectives. These services encompass expert advice, guidance and technical support tailored to effectively manage print environments, including devices, supplies, maintenance and document workflows.
The global managed print services market was valued at $31,780.0 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 5.0%.
Increase In Print Security Spending
During the forecast period, the increase in print security spending drove the growth of the managed print services market. Print security spending refers to the expenditure organizations incur to secure their print infrastructure and mitigate potential security risks associated with printing processes. Managed print services (MPS) can offer print security expenses in terms of security evaluations, policy implementation, data encryption and secure print solutions. In January 2022, according to Xerox Holdings Corporation, a US-based company that provides digital printing equipment, more than two-thirds (68%) of organizations reported data losses in the previous year due to insecure printing procedures. The result has been an average cost of £631,915 ($695,106) for each data breach. Therefore, an increase in print security spending supported the growth of the managed print services market.
Expansion Strategies Drive Growth And Competitiveness In The Managed Print Services Market
Companies operating in the managed print services market are expanding their facilities to stay ahead of competitors. For instance, in December 2023, Manik Printpack, an India-based manufacturer of printing and packaging, announced the expansion of a new plant in a 150,000-sqft area, out of which 100,000-sqft is constructed. Setting up a new plant allows for an increase in production capacity, enabling the company to meet growing demand and expand its operations. The new plant provides flexibility for future growth and the ability to adapt to changing market conditions and business needs. With increased production capacity and efficiency, the new plant can lead to better customer service by ensuring timely delivery of products and meeting customer demands effectively.
The global managed print services market is fragmented, with a large number of small players in the market. The top ten competitors in the market made up to 9.9% of the total market in 2022.
Managed Print Services (MPS) Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global managed print services (MPS) market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for managed print services (MPS)? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The managed print services (MPS) market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider managed print services (MPS) market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by channel type, by deployment mode, by organization type and by application.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the managed print services (MPS) market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by channel type, by deployment mode, by organization type and by application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for managed print services (MPS) providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Print Management; Device Management; Discovery And Design; Document Imaging
- 2) By Channel Type: Printer/Copier Manufacturers; System Integrators/Resellers; Independent Software Vendors (ISVs)
- 3) By Deployment Mode: Cloud-Based; On-Premise; Hybrid
- 4) By Organization Type: Small And Medium Enterprises (SMEs); Large Enterprises
- 5) By Application: BFSI; Government; Education; Healthcare; Telecom And IT; Manufacturing; Retail; Other Applications
- Companies Mentioned: Xerox Corporation; Canon, Inc.; Ricoh Company Ltd.; HP Inc; Konica Minolta, Inc.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; managed print services (MPS) indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.