Managed Print Services Market Research Report- Forecast till 2023

Global Managed Print Services Market Research Report: By Component (Hardware), Deployment (On Cloud), Organizations Size (SMB), End-Users (Telecommunications) - Forecast Till 2023

ID: MRFR/ICT/3975-HCR | February 2021 | Region: Global | 100 pages

Market Scenario
Companies such as Lexmark International Corporation (U.S.), ARC Document Solutions, Inc. (U.S.), Xerox Corporation (U.S.), HP Development Company, L.P. (U.S.), Ricoh Company, Ltd. (Japan), Toshiba Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea) are the leading providers of managed print services solution in the global market. The increasing adoption of big data solutions is one of the main driving factors of the managed print services market growth. With this solutions, the companies are gaining proper control of the printing, cost-effective and boost productivity.
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.
On 17 January 2018, Xerox went into partnership with Midwich to provide managed print services solution in the small and medium enterprise. Midwich is offering cloud-based, managed print services to their customers
On January 30, 2018, Xerox introduced a channel program for the information technology service providers. The company is offering and extending their service of print and workflow solutions.
Market Segmentation
The global managed print services market is segmented into the component, deployment, organization size, end users, and region. The component is sub-segmented into hardware, software, services, and others. The hardware is further segmented into copier, fax, printer, and others. The deployment segment is sub-segmented into on-cloud and on-premises. The organization size segment is sub-segmented into small & medium enterprises, and 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 expected to reach USD ~51 billion by the year 2023 at a CAGR of ~9%.
Global Managed Print Services Market
 
 Source: MRFR Analysis
Key Players
Some of the prominent players in the global managed print services market are Lexmark International Corporation (U.S.), ARC Document Solutions, Inc. (U.S.), Xerox Corporation (U.S.), HP Development Company, L.P. (U.S.), Ricoh Company, Ltd. (Japan), Toshiba Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), Kyocera Corporation (Japan), Sharp Corporation (Japan), Konica Minolta, Inc. (Japan), Wipro LTD (India), HCL Technologies (India), Canon UK Limited (U.K), Seiko Epson Corporation (Japan), Acrodex Inc. (Canada), Systems Technology, Inc. (U.S.), and Konica Minolta (U.K).
Regional Analysis
The global managed print services market is studied in the Asia Pacific, North America, Europe, and Rest of the World. In North America, the market is gaining the highest growth due to the increasing demand for cloud-based services, which is propelling the managed print services market growth. Whereas, Europe region is also showing the positive sign towards the best-managed services. Technical advancements and increasing demand for multi-functional printers in the region will foster the market growth during the forecast period. Asia Pacific countries such as China, Japan, and India are some of the leading regions in the globe in terms of market share.
Competitive Analysis
The global managed print services market appears to be extremely competitive. In order to target, segment and position their sensors into the global market and to drive the market growth, the companies have to come up with the advanced technology solution to maintain themselves into the competitive landscape. Market leaders are investing in research and development for innovating their products continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, and cost-effective product portfolio.
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



Frequently Asked Questions (FAQ) :


ARC Document Solutions, Inc. (U.S.), Lexmark International Corporation (U.S.), HP Development Company, L.P. (U.S.), Xerox Corporation (U.S.), Toshiba Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea) and Ricoh Company, Ltd. (Japan) are the leading providers of solutions for managed print services globally.

The increasing adoption of big data solutions is one of the main influencing factors of the managed print services market growth in the forecast.

The market will be valuing approximated USD ~51 billion by the year 2023.

The market will be growing in the coming years at a CAGR of ~9%.

Asia Pacific, North America, Europe are the top regions grossing with high revenues of the market.