Managed Print Services Market

Analysis of Managed Print Services
Market - Global Industry Insights,
Trends, 2018-2026
One of the key drivers for growth of the global managed print services market is
increasing awareness about environmental benefits of adopting MPS. This helps in
reducing the need of dedicated printing hardware and it also reduce volume of digital
waste. This is a significant advantage for managed print services market, as e-waste is
already becoming a major concern, due to booming consumer electronics industry. For
instance, according to the Coherent Market Insights’ analysis, in 2016, the e-waste
generated was around 44.7 million metric tonnes, which was up by 3.3 metric tonnes
from 2014, globally. Moreover, according to the EPA, over 40% of trees are used for
paper production, while MPS helps in saving trees by minimizing the consumption of
paper and minimize wastage of paper, which in turn helps in propelling growth of the
Managed print services (MPS) is an outsourcing service, where the company provides
service to takes full responsibility for managing a company's print environment. The
overall goal of this service is to cut down the company's print expenditure and
unnecessary waste. Advantages of managed print services are flexibility, increasing
productivity, sustainability, and cost saving that help in increasing demand for managed
print services. Moreover, stringent rules and regulations by governments to save paper
& reduce waste and decrease cost of operation is also another factor aiding in growth of
the MPS market. For instance, Paperwork Reduction Act of 1980, is a law in the U.S. for
minimizing the usage of paper the private businesses and citizens.
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Managed print services providers also help in improving the security of client data while
printing. When business use printers, copiers or multifunction devices, it create an
images of the information, which was printed. These images are stored on the printer’s
hard drive, which increase the risk of data hacking. With help of MPS all the processes
have to adhere to certain security protocols and MPS will secure the sensitive data with
help of data encryption, authorised accessibility, and others. Due to rising threat of
cybercrime, this has become a key driver for growth of the global MPS market. For
instance, according to Coherent Market Insights’ analysis, in July 2017, number of
cybercrime increased to 84.1% from 68.8%. Cyber espionage has decreased to 10.1%
from 15.6% of June, whereas cyber warfare has witnessed an increase to 4.3% from
9.4%. Some of the major global organizations such as World Health Organization
(WHO) and World Trade Organizations (WTO) and various companies are focusing on
taking appropriate measures on data security in order to protect important data from
cyberattacks. Therefore, rising security concerns regarding data is expected to be
another factor for growth of the managed print services market.
Cloud-based deployment to hold a major share in the managed print services
market during the forecast period
Increasing adoption of cloud technology is expected to be one of the factors for
increasing demand for cloud-based deployment of MPS during the forecasted period.
According to the CISCO analysis, in 2014, workload density over the cloud was 5.1ZB,
which will grow till 8.4ZB by 2019. Benefits associated with cloud are fast accessibility,
flexibility, cost effectiveness, and others are responsible for increasing demand of cloud
in various verticals such as healthcare, media and entertainment, BFSI, education,
healthcare, manufacturing, and IT & Telecommunication. It helps businesses to
remotely access their documents and data.
Proliferation of digital paper work is one of key challenges hampering growth of
the market
Increasing utilization of digital paper work is one of major challenges for growth of the
market. Currently, companies are adopting technologies, which help them to minimise
the usage of paper work, reduce errors, and saves time. This is expected to adversely
affect growth of the market.
Global Managed Print Services Market: Regional Insight
North America accounted for the largest market share in the global managed print
service market. Increasing adoption of advanced technology by various verticals, in
order to improve their financial position; enhance security and gain operational
efficiencies are some of the factors, which in turn, helps in increasing demand for the
managed services in this particular region. For instance, in January 2017, CentraCare
Health adopted managed print services, in order to streamline business process and
optimize its printing. This service helped in increasing their saving by US$ 400,000,
Moreover, majority of the key players in the market are present in this region. Thus,
aiding in growth of the managed print services market in the region. For instance,
Global Imaging Systems (GIS), A Xerox Company acquired G-Five, Inc.—a
Carolinas-based solution provider of office equipment and print services in North and
South Carolina—in 2017.
Global Managed Print Services Market: Competitive Landscape
Some of the key players in the managed print services market are Xerox Corporation,
HPE IT Services, Ricoh, Lexmark International, Inc., Canon, Inc., Samsung, Toshiba,
Sharp, Kyocera, Pitney Bowes, and ARC Document solutions.
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Managed Print Services Market report categorizes the global market by channel (Printer Manufactures, System Integrators, and Independent Software Vendors), by deployment, by organization Size, by end-user Industry and by geography.