The global managed Print services market is showing immense growth; mainly due to the growing need for customized Print solutions and increased demand for flexibility to match custom requirements. Steep increase in the adoption of big data solutions is one major factor driving the growth of managed Print services market. Xerox Corporation, HP Development Company, L.P., Lexmark International Corporation, ARC Document Solutions, Inc., and Samsung Electronics Co. Ltd. are the major investors in the managed Print services market. Xerox Corporation is well positioned and continues to maintain its hold on managed Print services market. In 2015, with next generation managed print services, Fuji Xerox is expanding their services in Australia.
Based on deployment, hybrid deployment is expected to grow at a significant rate during the forecast period. This is owing to the combined benefits that it offers of both cloud and on premise deployment. Hybrid deployment offers the convenience of having a part of services on cloud and the other part on premise. Due to this, the hybrid based deployment is the fastest growing segment. According to a recent study report published by Market Research Future, The global market of managed Print services is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023). Also, increasing initiatives from organisations to reduce paper wastage is one major factor responsible for the growth of managed Print services market. Reduced cost of operation and flexibility to match custom requirements is one of the major factors driving the growth of managed Print services market. Also, technological advancements and persistent rise in the complexity of technological solutions is one major factor responsible for driving the growth of managed Print services market.
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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%.
The managed print services market can be classified into 6 key segments for the convenience of the report and enhanced understanding;
Segmentation by Component: Comprises of Hardware, Software and Services
Segmentation by Channel Type: Comprises of Printer/Copier Manufacturers, System Integrators/Resellers and Independent Software Vendors (ISVs)
Segmentation by Deployment: Comprises of Cloud, On Premise, Hybrid and Others
Segmentation by Organization Size: Comprises of SMEs and Large Enterprises
Segmentation by Application: Comprises of BFSI, Education, Healthcare, IT & Telecommunication, Manufacturing, Legal, Government and Others
Segmentation by Region: Comprises of Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
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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- 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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