Managed Print Services Market Analysis by Business Methodologies, Financial Overview and Growth Prospects Predicted by 2023


Posted December 9, 2019 by EhteshamP

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

The global managed print services market will garner the worth of approximately 51 BN USD by 2023, registering around 9% CAGR throughout the forecast period (2017 – 2023). Managed print services are a key part of the corporate sector in the modern world due to the growing need for printing documents and other paper-based material for promotion and other applications. Traditionally, printing services have been handled by companies simply purchasing printers according to their need and managing them on their own. In the days of mostly local operations, the use of an office-based printer was usually enough to handle the needs of corporate entities.

However, in the increasingly global world of today, managed printing services have become a vital need for corporate entities in almost every sector, as even in the day and age of digital publishing and marketing, legacy printing services remain in demand due to the unique appeal and long-entrenched dependence on paper documents. This has been the major driver for the global managed print services market over the last few years.

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Major Key players

ARC Document Solutions, Inc. (U.S.)
Lexmark International Corporation (U.S.)
HP Development Company
Xerox Corporation (U.S.)
P. (U.S.)
Toshiba Corporation (Japan)
Ricoh Company, Ltd. (Japan)
Samsung Electronics Co. Ltd. (South Korea)
Sharp Corporation (Japan)
Kyocera Corporation (Japan)
Konica Minolta, Inc. (Japan)
HCL Technologies (India)
Wipro LTD (India)
Segmentation:

MRFR has segmented its analysis into five key dynamics for enhanced understanding.

By Component: Hardware, Software, Services, and others.

By Deployment: On-Cloud and On-Premises among others.

By Organizations Size: Small & Medium Enterprises, and Large Enterprises.

By End-users: BFSI, IT & Telecommunications, Government, Healthcare, and others.

By Regions: Europe, North America, APAC and the Rest-of-the-World.

Regional Analysis:

North America accounts for the leading market for managed print services, globally. Factors propelling the regional market include the presence of major vendors and the wide adoption of these services. Technological advancements transpired into the field have been powering the market growth, availing efficient systems.

Moreover, the increasing demand for cloud-based services is fostering the market growth in this region.

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.

The Asia Pacific market for managed print services has emerged as the fastest growing market and is expected to show the highest growth using these services in the forecast periods. APAC countries like China, Japan, and India have accounted for a considerably fair share in the managed print services market and will be growing rapidly in the years to come.

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Last Updated December 9, 2019