Press release
Managed Print Services Market Value to Surpass USD 59,709 Million by 2025
Managed Print Services Market
The market expansion is facilitated by improved data security, decreased operational costs, programmes to reduce plastic waste at work, and an increase in the usage of big data solutions. However, ongoing expenses as well as strategic alliances and collaborations limit market expansion. On the other side, a growth in cloud MPS usage and an increase in print security investment provide up new market prospects.
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Device management segment to continue its dominating position by 2025
According to type, the device management segment accounted for almost more than one-third of the overall market share in 2017 and is anticipated to maintain its dominant position during the entire projected period. This is because more people are implementing these solutions to increase the network performance for printing devices, maximise productivity, and keep expenses under control. However, due to an increase in the demand for big data management and analytics in organisations, the document imaging market is anticipated to develop at the highest CAGR of 13.4% from 2018 to 2025.
Hybrid cloud segment to be lucrative
The hybrid cloud segment provided about three-fifths of the total market in 2017 based on deployment method, and it is anticipated that it will continue to hold the top spot during the forecast period. From 2018 to 2025, this market is projected to expand at a CAGR of 11.5%. It is a profitable market due to the demand for cloud-based MPS to reduce printing costs and move towards cutting-edge solutions to support mobility, enhance security, and create effective corporate workflows. The on-premise deployment model is examined in the study as well.
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North America to maintain its dominant share throughout the forecast period
In 2017, North America made up more than two-fifths of the total share, and it is anticipated that it will continue to have a commanding position throughout the forecast period. This is because there are well-known manufacturers here, the government has favourable policies, and there are more startups in this area. However, due to a spike in retail & consumer products startups in countries like China, India, and Japan, Asia-Pacific is predicted to have the greatest CAGR of 14.0% from 2018 to 2025.
Frontrunners of the industry
Leading market players analyzed in the research include Xerox, HP Inc., Toshiba, Lexmark International, Inc., Ricoh Company, Ltd., Canon Inc., Konica Minolta, Inc., Sharp Electronics, Kyocera Document Solutions, and ARC Document Solutions.
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Key Findings of the Managed Print Services Market:
• By type, the document imaging segment is expected to exhibit significant growth in the global managed print services industry during the forecast period.
• Based on deployment mode, the hybrid cloud segment accounted for the highest revenue in 2017.
• Based on organization size, the large enterprises segment generated the highest revenue in 2017.
• Based on industry vertical, the BFSI industry generated the highest revenue in 2017.
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