Managed Print Services involves centralization, optimization and management of all aspects of printing devices in an organization through a single program offered by print providers. The global managed print services market is anticipated to generate USD 51.0 billion at a CAGR of ~9% by the end of forecast year of 2023.
The increasing demand for cloud computing and software as a service are boosting the managed print services market growth to the large extent. The cloud-based print services are gaining momentum among large companies. The cloud services along with the latest multi-functional printers for the integration of paper and digital workflows are widely used among organizations. This helps to reduce the printing office documents cost of up to 40%, improve productivity, and security.
The market of managed print services appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
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Major Key Players:
Xerox Corporation (U.S.),
Lexmark International Corporation (U.S.),
Systems Technology, Inc. (U.S.),
Acrodex Inc. (Canada),
ARC Document Solutions, Inc. (U.S.),
Ricoh Company, Ltd. (Japan),
HP Development Company, L.P. (U.S.),
Sharp Corporation (Japan),
Toshiba Corporation (Japan),
Samsung Electronics Co. Ltd. (South Korea),
Kyocera Corporation (Japan),
Konica Minolta, Inc. (Japan),
HCL Technologies (India), Wipro LTD (India), Canon UK Limited (U.K), Seiko Epson Corporation (Japan), and Konica Minolta (U.K) and others
According to the Market Research Future Analysis, the global Managed Print Services Market is expected to reach USD ~51 billion by the end of the forecast period at a CAGR of ~9%.
The global managed print services market is segmented into component, deployment, organization size, end users, and region. The component is sub-segmented into hardware, software, services, and others. The hardware is further sub-segmented into copier, fax, printer, and others. The deployment segment is sub-segmented into on-cloud, on-premises. The organization size segment is sub-segmented into small and medium enterprises, large enterprises. The end-users segment is sub-segmented into BFSI, IT and telecommunications, government, healthcare, and others. The global market is spanned across North America, Europe, Asia Pacific, and rest of the world.
The global managed print services market is consists of the Americas, Europe, Asia Pacific, and Rest of the world. North America is dominating the global managed print services market. The managed print services market is witnessing the high growth due to increasing demand for cloud-based services among various end users including BFSI, IT and telecommunications, media and entertainment, healthcare, and among others. Europe is projected to hold the second largest share of the global managed print services market during the forecast period due to increasing demand for low cost priniting services. Asia Pacific is expected to witness the highest CAGR in the coming years.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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- Managed print services companies
- Managed print services providers
- Technical universities
- System integrators
- Managed Security Service Providers
- Professional service providers
- Research and development companies
- Market research and consulting firms
- Solution providers
- Technology standards organizations
- Technology investors
- System Integrators
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