Managed Print Services

Managed Print Services

Global Managed Print Services Market to Reach US$75.6 Billion by 2030

The global market for Managed Print Services estimated at US$51.8 Billion in the year 2023, is expected to reach US$75.6 Billion by 2030, growing at a CAGR of 5.6% over the analysis period 2023-2030. Cloud Deployment, one of the segments analyzed in the report, is expected to record a 5.3% CAGR and reach US$31.1 Billion by the end of the analysis period. Growth in the Hybrid Deployment segment is estimated at 6.7% CAGR over the analysis period.

The U.S. Market is Estimated at US$14.1 Billion While China is Forecast to Grow at 5.2% CAGR

The Managed Print Services market in the U.S. is estimated at US$14.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$11.9 Billion by the year 2030 trailing a CAGR of 5.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 5.2% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR.

Global Managed Print Services Market - Key Trends & Drivers Summarized

What Are Managed Print Services and How Do They Streamline Business Operations?

Managed Print Services (MPS) refer to the outsourcing of an organization`s printing infrastructure, including printers, copiers, and multifunction devices, to a third-party provider. These services encompass everything from the maintenance and repair of printers to monitoring usage and implementing cost-saving strategies. MPS providers also handle the replenishment of supplies such as ink and toner, while offering solutions to enhance document security and optimize printing workflows. The goal of MPS is to reduce the total cost of ownership (TCO) associated with print management, improve operational efficiency, and ensure that the printing environment aligns with sustainability initiatives. For businesses with high printing demands, MPS offers a scalable and efficient way to manage complex, multi-device environments.

How Are Technological Advancements Shaping the Managed Print Services Market?

Technological advancements are significantly transforming Managed Print Services by integrating cloud-based solutions, advanced analytics, and enhanced security features. Cloud printing is a key innovation, allowing employees to print from any location without being tied to a specific device, enhancing flexibility and remote working capabilities. Advanced analytics tools are also helping organizations monitor printing usage in real time, providing valuable insights to optimize print workflows, reduce waste, and identify cost-saving opportunities. Furthermore, the rise of cybersecurity threats has made data protection a critical component of MPS, with providers offering secure print release solutions, encryption, and user authentication to protect sensitive documents. These technological enhancements are making MPS more efficient, secure, and adaptable to modern business needs.

What Challenges Do Organizations Face When Implementing Managed Print Services?

Implementing Managed Print Services can present several challenges for organizations, particularly in terms of integration and change management. One of the primary challenges is aligning MPS with existing IT infrastructure and workflows, which may require customized solutions and significant upfront investments. Additionally, organizations must manage the transition from decentralized printing environments to a more streamlined and centralized MPS model, which can involve retraining staff and altering printing habits. Security is another concern, as businesses must ensure that the MPS provider adheres to strict data protection protocols, especially when handling sensitive information. Lastly, companies need to evaluate the cost-benefit ratio of adopting MPS, as the long-term savings must justify the initial setup and subscription fees.

Growth in the Managed Print Services Market Is Driven by Several Factors

The growth in the Managed Print Services market is driven by several factors, including the increasing demand for cost-efficient and secure printing solutions, the shift toward digital transformation, and the rise of cloud-based technologies. As businesses focus on reducing operational costs, MPS provides a way to cut unnecessary printing expenses and optimize document workflows. The growing need for secure printing, especially in industries like finance and healthcare, is also fueling demand for advanced MPS solutions with enhanced security features. Moreover, as organizations embrace hybrid and remote work models, cloud printing capabilities are becoming essential for maintaining flexibility. These trends, coupled with the desire for more sustainable and eco-friendly printing practices, are expected to drive strong growth in the Managed Print Services market.

Select Competitors (Total 44 Featured) -

• Active8 Managed Technologies
• Alabama Graphics
• Alternative Managed Services
• Apogee Corporation Limited
• ARC Document Solutions, Inc.
• ASCA Office Solutions
• Atlantic Zeiser GmbH
• Automated Systems Group
• B2 Business Systems
• Basic ITS

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