Managed Print Services (MPS) Market

Managed Print Services (MPS) Market to grow at 14.8% CAGR between 2016 and
2024, expected to reach US$94.97 bn by 2024
Recently, a major player in the
one-stop-shop solution for all IT
solutions is a trend common in
organizations reduce complexity,
and optimize efficiency.
managed print services (MPS) market announced a
needs. The increasing holistic approach to software
other industries as well. The trend can help client
eliminate repetitive IT tasks, minimize distractions
Global Managed Print Services Market is predicted to grow at 14.8% CAGR during
2016 and 2024. It is expected to reach US$94.97 bn by 2024.
The small and medium sized businesses are expected to drive the managed print
services (MPS) market during the forecast period. The SMEs are increasingly realizing
the various advantages of the managed print services.
Geographically, the managed print services (MPS) market in North America has
traditionally dominated the global managed print services (MPS) market. The regional
market is expected to continue its dominance during the forecast period.
Establishment of numerous large organizations, growing adoption by SMEs is expected
to drive the market.
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Increasing Awareness Expected to Drive Global Managed Print Service Market
Increasing reliance on IT infrastructure, lack of specialized resources, cost-efficiency
are some of the main reasons that have conventionally driven the global managed
print services (MPS) market. Currently, holistic one-stop-shop solutions, reduction in
cumbersome IT processes are some reasons why small and medium sized businesses
are also moving towards MPS providers. Today, there is a growing awareness that
MPS providers free up unnecessary resource allocation and helps organizations
streamline their processes towards their core objectives. The growing awareness is
expected to bring healthy growth to the MPS market.
The market also faces several challenges and opportunities. The managed print
services (MPS) market is likely to expand significantly in collaboration with the
public sector. Public sector and its large volume of paperwork presents a significant
opportunity during the forecast period. Growing subsidies for businesses to become
eco-friendly are also expected to boost the market. MPS providers can reduce energy
usage as well as bring a reduction in paper wastage. Growing trend of digitalization
both across the private and public sector is expected to challenge the market growth
during the forecast period.
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This review is based on Transparency Market Research’s report, titled “Managed
Print Services (MPS) Market (Channel - Printer/Copier Manufacturers, Channel
Partner/Core MPS Providers; Enterprise Size - SMEs, Large Enterprises; Deployment On-premise, Hybrid, Cloud-based; End-use - BFSI, Telecom and IT, Government and
Public, Health Care, Education, Legal, Construction, Manufacturing) - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”