Managed Print Services Market Cost Profit Analysis of Global Imaging Systems (GIS), Xerox, HPE IT Services, Ricoh, Lexmark International,Canon, Samsung, Toshiba, Sharp, Kyocera, Pitney Bowes

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. Environmental benefits and increasing concern for data security are among major driving factors for growth of the Managed print services market.

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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.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 market.

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.

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.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.

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.

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.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.

Global Managed Print Services Market: Taxonomy

By Channel

-Printer/Copier manufacturer
-System integrator
-Independent software vendor
-By Deployment

On-premises
-Cloud
-Hybrid
-By Organization Size

Small and Medium Enterprises
-Large Enterprises
-By End-user industry

-BFSI
-Government
-Education
-HealthCare
-Telecommunication & IT
-Manufacturing
-Retail

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This release was published on openPR.