Managed Print Services Market

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.

The Global Managed Print Services Market Industry is increasingly recognized for its potential to enhance cost efficiency within organizations. By consolidating printing resources and optimizing workflows, businesses can significantly reduce operational expenses. For instance, companies that adopt managed print services often report savings of up to 30 percent on printing costs. As the market is projected to reach 48.3 USD Billion in 2024, the emphasis on cost management becomes paramount. Organizations are likely to seek solutions that not only streamline processes but also provide measurable financial benefits, thereby driving the demand for managed print services.

Regulatory compliance is an essential driver influencing the Global Managed Print Services Market Industry. Organizations are increasingly required to adhere to stringent data protection and environmental regulations, necessitating efficient document management practices. Managed print services provide solutions that help businesses comply with these regulations by ensuring secure printing and proper document disposal. For example, companies can implement user authentication and access controls to safeguard sensitive information. As the market is projected to grow at a CAGR of 9.31% from 2025 to 2035, the demand for compliant printing solutions is likely to rise, compelling organizations to invest in managed print services.

The Global Managed Print Services Market Industry is poised for substantial growth, with projections indicating a market size of 48.3 USD Billion in 2024 and an anticipated increase to 128.7 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate (CAGR) of 9.31% from 2025 to 2035. Such figures underscore the increasing recognition of managed print services as a strategic asset for organizations seeking to optimize their printing operations. The market's expansion is likely to be driven by factors such as cost efficiency, sustainability, and technological advancements, making it a critical area of focus for businesses worldwide.

Enhanced security features are becoming a focal point in the Global Managed Print Services Market Industry, as organizations face increasing threats to data integrity. Managed print services offer robust security protocols, including encryption and secure print release, to protect sensitive information. For instance, businesses can implement user authentication measures to ensure that only authorized personnel can access printed documents. This heightened focus on security is likely to drive the adoption of managed print services, particularly in sectors such as healthcare and finance, where data protection is paramount. As organizations prioritize safeguarding their information, the demand for secure printing solutions will likely escalate.

Sustainability is a pivotal driver in the Global Managed Print Services Market Industry, as organizations increasingly prioritize eco-friendly practices. Managed print services facilitate reduced paper consumption and energy usage, aligning with corporate sustainability goals. For example, companies implementing these services can decrease their carbon footprint by up to 50 percent through efficient resource management. This trend is likely to gain momentum as the market is expected to expand to 128.7 USD Billion by 2035, reflecting a growing commitment to environmental responsibility. As businesses strive to meet regulatory requirements and consumer expectations, the demand for sustainable print solutions will likely surge.

Technological advancements play a crucial role in shaping the Global Managed Print Services Market Industry. Innovations such as cloud printing, mobile printing, and advanced analytics are transforming how organizations manage their printing needs. These technologies enable businesses to enhance productivity and streamline operations. For instance, cloud-based solutions allow remote printing capabilities, which can improve workflow efficiency. As the market continues to evolve, the integration of artificial intelligence and machine learning into managed print services may further optimize resource allocation. This ongoing technological evolution is likely to attract more organizations to adopt managed print solutions, thereby contributing to the market's growth.

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, Market Research Future 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.

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.