Managed Print Services Market Size, Share, Trends 2024-2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Managed Print Services Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $14.61 billion In 2028 At A CAGR Of 11.1% :

The managed print services market size has grown strongly in recent years. It will grow from $42.88 billion in 2023 to $46.83 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to cost reduction initiatives, increased printing complexity, rising awareness of environmental sustainability, growth in mobile printing, complexity of print infrastructure, focus on core competencies, globalization of business operations, integration with enterprise content management.

The managed print services market size is expected to see strong growth in the next few years. It will grow to $66.43 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increasing digital transformation initiatives, shift to hybrid work environments, focus on user authentication and access control, advancements in print analytics, growth in 3d printing, focus on user experience, focus on sustainability and green printing. Major trends in the forecast period include remote print management, data analytics and predictive maintenance, print fleet optimization, device and document security, vendor consolidation and partnerships, subscription-based models, managed document services (mds), artificial intelligence (ai) and automation.

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Managed Print Services Market Major Segments
The managed print services market covered in this report is segmented -

1) By Type: Print Management, Device Management, Discovery and Design, Document Imaging
2) By Channel Type: Printer/Copier Manufacturers, System Integrators/Resellers, Independent Software Vendors (ISVs)
3) By Deployment Mode: On-premise, Cloud-based, Hybrid
4) By Organization Type: Small and Medium Enterprises (SMEs), Large Enterprises
5) By Application: BFSI, Government, Education, Healthcare, Telecom and IT, Manufacturing, Legal, Other Applications

Key Driver - Rise In Print Security Spending Fuels Managed Print Services Market Growth

The increase in print security spending is expected to drive the market for managed print services going forward. Print security refers to the secure management of print devices and related infrastructure. Managed printing aids the company in enhancing document security and environmental sustainability. For instance, according to an article published in May 2023, by Xerox, a US-based print and digital document products and services, print security spend continues to rise. Overall, 79% of organizations expect their security spend to increase in the coming 12 months in 2024, and it is expected to rise to 86% in the US and to 85% in business and professional services and retail . Hence, an increase in the print security spending is driving the growth of managed print services.

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Prominent Trend - Hp Inc. Redefines Flexibility With Innovative Managed Print Services

Technological advancement is the key trend gaining popularity in managed print services market. Major companies operating in the managed print service market are focused on developing new technological solutions such as cloud-based solutions to improve flexibility and strengthen their market position. For instance, in September 2021, HP Inc., a US-based IT provider, introduced HP Managed Print Flex, a new cloud-first Managed Print Service (MPS), which simplifies management, boosts productivity and offers the flexibility to scale or modify in response to changing business needs, thus, reducing expenses. The cloud service allows customers and partners to select the printers that best suit their needs and quickly and effectively equip workers in the office or at home with the print technology.

Managed Print Services Market Players
Major companies operating in the managed print services market report are ARC Document Solutions Inc., Canon Inc., Hewlett-Packard Development Company L.P., Kyocera Document Solutions Inc., Konica Minolta Inc., Lexmark International Corporation, Ricoh Company Ltd., Sharp Corporation, Toshiba Corporation, Xerox Corporation, Novatech Inc., Samsung Electronics Co. Ltd., Ingram Micro Inc., SCC Document Services, Print Audit, Brother UK Ltd., EuroForm AS, Exela Technologies Inc., Epson America Inc., Fujitsu Limited, Comarch SA, Unisys Corporation, Amdocs Inc., ZTE Corporation, Nokia Corporation, Tech Mahindra Limited, CenturyLink (Lumen Technologies Inc.), Juniper Networks Inc., Motorola Inc., Vodafone Idea Limited

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Largest And Fastest Growing Region In The Market
North America was the largest region in the managed print services market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the managed print services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Managed Print Services Market Report Structure
3. Managed Print Services Market Trends And Strategies
4. Managed Print Services Market - Macro Economic Scenario
5. Managed Print Services Market Size And Growth
…..
27. Managed Print Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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