Managed Print Services Market Research Report Information By Organisation (Medium and Small Enterprises and Large Enterprises), By Type (Metal, Polymer, And Others), By Deployment Model (On-Cloud, And Premise), By End Users (Telecommunications and IT, Healthcare, BFSI, And Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.

Managed Print Services Market Overview

Managed Print Services Market Size was valued at USD 41 billion in 2021. The Managed Print Services market industry is projected to grow from USD 44.77 Billion in 2022 to USD 82.90 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.20% during the forecast period (2022 - 2030). Dependence on disparate networks of applications and infrastructure has been steadily increasing are the key market drivers enhancing the market growth.

Figure1: Managed Print Services Market, 2018 - 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Managed Print Services Market Trends

Growing in initiatives to reduce paper wastage to boost market growth

Organizations are adopting green initiatives at an increasing rate for the benefits seen by customers and the potential cost reductions. Many businesses have started to choose methods for reducing paper usage and waste in the workplace for these green projects, offering a simple, clear-cut, and efficient road toward more ambitious sustainability objectives. Additionally, managed print services give businesses the ability to advance efficiently. Small, medium-sized, and large-scale businesses can do away with print servers and simplify print administration. Retailers are left with massive fleets of devices from various manufacturers, models, supplies, and service contracts due to an unmanaged output. A help desk that is overworked and frequently fails can harm store operations and drive up costs. An output strategy is essential for raising productivity and cutting expenses.

Especially for essential daily functions like the printing and publication of labels, shelf strips, and signs, reliability is usually exceptional. In the retail business, significant levels of efficiency are necessary. It must be accomplished to simplify the procedure and reduce costs. Retailers can save time and money by using managed print services rather than setting up production facilities. Based on unique duties, geographical location, and the need for redundancy, MPS plans for retail should determine the ideal number of networked printers. Disappointing outcomes can be obtained by forcing generic printer ratios on end users or aiming for the lowest purchasing cost. Therefore, such factors has enhanced the Managed Print Services market CAGR across the globe in the recent years.

However, sudden increase in big data application is another factor driving the growth of the Managed Print Services market revenue.

Managed Print Services Market Segment Insights

Managed Print Services Organization Insights

The Managed Print Services market segmentation, based on Organization, includes medium, small, and large enterprises. The medium and small enterprises segment held the majority share in 2021, contributing to around ~55% of the Managed Print Services market revenue. Due to financial limitations, small and medium-sized businesses worldwide are rapidly adopting cloud-based MPS. Additionally, MPS helps SMEs maximize resource use and reduce printing expenses. Governments are also offering incentives, advantageous tax laws, and simple access to credit to assist the expansion of SMEs. Several governments also provide SME owners with coaching and educational programs to aid business growth. The adoption of MPS by SMEs has expanded due to rising digitization. It is motivating major industry participants to provide cloud-based managed print services.

Managed Print Services Deployment Model Insights

The Managed deployment model has bifurcated Print Services market data into on-cloud and premise. The On-Cloud segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The OEM's server is where the cloud-based software is installed, and a web browser is used to access it. Hybrid deployment, in which cloud software is housed on an end user's private servers, is also a service provided by some well-known OEMs. Software in the cloud is charged on a monthly or yearly subscription basis. Organizations are paying an additional overhead cost for cloud-based technologies.

Figure 2: Managed Print Services Market, by Deployment Model, 2021 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Managed Print Services End User Insights

Based on End Users, the managed print services industry has been segmented into telecommunications and IT, healthcare, BFSI, and others. BFSI held the largest segment share in 2021. The functioning of the banking, financial services, and insurance (BFSI) sector depends greatly on record-keeping. Paper is widely used for many uses, including loan applications, creating new accounts, mortgages, and others. This is predicted to result in substantial resource investment costs. Technology and automation are required to manage the additional costs and streamline the total printing process in the BFSI industry. In terms of consumer information, it is one of the most delicate businesses. Therefore, secured printing is a necessity for the sector. Assessing the real cost incurred for various print applications is expected to assist in managing print services to monitor the printing environment and reduce waste.

The fastest-growing segment in the managed print services industry is healthcare. The managed print services market is expanding due largely to the strong healthcare sector adoption, which is linked to the administration and optimization of a high-volume print environment while decreasing vulnerabilities with thousands of devices.

Managed Print Services Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North America Managed Print Services market accounted for USD 17.87 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. Major printer and copier manufacturers are present in the North American region, which has increased start-up activity, favorable government regulations, and growth.

The increased adoption rates in the U.S. government and healthcare sectors are also contributing to the growth of the managed print services market. Xerox Managed Print Services for the U.S. Federal Government uses a secure FedRAMP (Federal Risk and Authorization Management Program) authorized cloud to expedite procedures and boost worker productivity. Service delivery and productivity increase while risk and cost management are improved.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Managed Print Services MARKET SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Managed Print Services market accounts for the second-largest market share. Numerous technical breakthroughs and rising demand for advanced printers are driving market expansion. Further, the Germany Managed Print Services market held the largest market share, and the UK Managed Print Services market was the fastest-growing market in the European region.

The Asia-Pacific Managed Print Services Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to rising retail & consumer products startups in nations like China, India, and Japan are to blame for the region's rise. The regional market expansion is anticipated to be boosted by a rise in acceptance and awareness of applications in education and healthcare. Moreover, China Managed Print Services market held the largest market share, and the India Managed Print Services market was the fastest-growing market in Asia-Pacific.

Managed Print Services Key Market Players & Competitive Insights

Major industry players are investing a lot of money in R&D to broaden their product portfolios, which will spur further market expansion for managed print services. Participants in the market are also undertaking various key development to expand their footprint. Significant market developments include new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. To grow and thrive in a very competitive and growing market environment, competitors in the Managed Print Services Industry must provide affordable products.

Manufacturing locally to cut operational costs is one of the main business methods producers use in the globally Managed Print Services industry to benefit customers and expand the market sector. In recent years, Managed Print Services industry has provided with some of the most significant benefits. The Managed Print Services market major player such as Fisher's Technology, HP, and others are working to expand the market demand by investing in research and development activities.

The local authority on everything office technology with personality is Fisher's Technology. Their staff is unified by a sincere desire to provide our customers with extraordinary experiences, and they bring a wealth of knowledge and pure fun to every business engagement. In September 2022, A provider of IT solutions named VLCM has sold its Managed Print Services segment to Fisher's Technology. VLCM will continue to be in charge of all other business divisions, including cybersecurity, data centers, BU/DR, virtualization, hybrid clouds, networking, Microsoft, UC, audio/visual, and professional services.

Also, HP Inc. is a American information technology corporation with its main office in Palo Alto, California. It creates 3D printing solutions in addition to personal computers, printers, and related accessories. In July 2022, HP Inc. has introduced the multi-function HP LaserJet Managed E800 and E700 series printers for the hybrid office. HP Wolf Enterprise Security enables the printers to recognize, stop, and recover from threats. They include Connection Inspector, HP Sure Start, Memory Shield active system monitoring, and allow listing. With the new FLOW 2.0 features, such as instantly changing the material on the control panel (highlight, redact, even sign), the E800 and E700 Flow models also offer workflow solutions.

Key Companies in the Managed Print Services market includes

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  Sharp Corporation (Japan)

  
  


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  Lexmark International Corporation (U.S.)

  
  


• Konica Minolta (U.K)


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  Canon UK Limited (U.K)

  
  


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  Toshiba Corporation (Japan)

  
  


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  Kyocera Corporation (Japan)

  
  


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  Systems Technology Inc. (U.S.)

  
  


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  ARC Document Solutions Inc. (U.S.)

  
  


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  HCL Technologies (India)

  
  


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  Samsung Electronics Co. Ltd. (South Korea)

  
  


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  HP Development Company L.P. (U.S.)

  
  


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  Acrodex Inc. (Canada)

  
  


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  Ricoh Company Ltd. (Japan)

  
  


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  Konica Minolta Inc. (Japan)

  
  


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  Xerox Corporation (U.S.)

  
  


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  Seiko Epson Corporation (Japan)

  
  


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  Wipro LTD (India), among others

  
  

Managed Print Services Industry Developments