Managed Print Services Market is predictable to reach USD ~51 billion | MPS Industry Significant Diversifications along with Historical Analysis, Key Findings and trends by Forecasts

“Managed Print Services Market”
Managed Print Services Market, By Components (Hardware, Software, Services), By Deployment Type (On Premise, Cloud Based, Hybrid), By Organizations (Small & Medium Scale Enterprise, Large Scale Enterprise) – Forecast 2023

Market Highlights:

The growing demand for software as a service and cloud computing are improving the managed print services market progress to a great extent. Market concentrated reports associated with the semiconductors and electronics industry amid others recently have been made available by Market Research Future which issues reports on this industry. The market is anticipated to touch USD 51 billion in revenue while growing at a CAGR of 9% by the year 2023.

As cloud-based print services are gathering impetus, the market for managed print services is growing at a robust pace. The increasing adoption of big data solutions on the other hand has emerged as one of the chief driving factors for the market’s growth in the forecast period. The development of the market is further spurred on by the companies who are investing in managed print services heavily. The use of managed print service in identifying machines which are underachieving and then substituting them with efficient devices is adding effectively to the growth of the market.

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Competitive Analysis

The market development by competitors encompasses strong risk management strategies which will positively influence the market. The challengers in the market are tirelessly trying to establish leading market positions through new policies and strategies. The experienced management in the companies operating in the market are making business models which can bring about a fruitful phase of development. The main trends and players have established an optimistic tone for development. The contestants in the market are trying to succeed commercially by ensuring demand and supply are in balance. The momentum of the market’s growth has altered the competitive background of the market. The contenders in the market are also leveraging their competitive advantages to secure their growth in the market.

The foremost contenders in the managed print services market globally are ARC Document Solutions, Inc. (U.S.), Xerox Corporation (U.S.), HP Development Company, L.P. (U.S.), Lexmark International Corporation (U.S.), Toshiba Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), Sharp Corporation (Japan), Kyocera Corporation (Japan), Ricoh Company, Ltd. (Japan), Konica Minolta, Inc. (Japan), HCL Technologies (India), Wipro LTD (India), Seiko Epson Corporation (Japan),  Canon UK Limited (U.K), Acrodex Inc. (Canada) and Systems Technology, Inc. (U.S.)

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%.

Segmentation:

The managed print services market globally is segmented into the segments such as deployment, component, end users, organization size, and region. The component segment of the market includes software, hardware, services, and others. The hardware segment is additionally segmented into fax, copier, printer, and others. The deployment segment comprises of on-premises and on-cloud. The organization size segment is segmented into large enterprises and small & medium enterprises.  The segment of end-users is segmented into IT and telecommunications, healthcare, BFSI, government, and others. The market globally spans across Asia Pacific, North America, Europe, and rest of the world.

Regional Analysis:

The managed print services market globally covers the regions of Europe, Asia Pacific, North America and Rest of the World. In the North America region, the market for managed print services is acquiring maximum market growth owing to the rising demand for cloud-based services, which is pushing the managed print services market progress. Whereas, the countries in the European region are developing the managed print services markets owing to the growing demand for multi-functional printers and is likely to develop considerably over the review period. The countries in the Asia Pacific region such as Japan, China, and India are a few of the important regions around the globe in terms of market share.

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Intended Audience

  • 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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