Managed Print Services Market Cost Profit Analysis Xerox Corporation, HPE IT Services, Ricoh, Lexmark International, Inc., Canon, Inc., Samsung, Toshiba, Sharp, Kyocera, Pitney Bowes, and ARC Document solutions

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.

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.

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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.

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.

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.

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.

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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