Managed Print Services Market Size, Industry Trends, Share and Report 2024-2032

 The latest report by IMARC Group, titled “Managed Print Services Market Report by Type (Print Management, Device Management, Discovery and Design, Document Imaging), Deployment Mode (On-premises, Cloud-based), Organization Size (Large Enterprises, Medium Enterprises, Small Enterprises), Industry Vertical (BFSI, Government, Healthcare and Education, Manufacturing, Retail and Consumer Goods, IT and Telecom, and Others), and Region 2024-2032“, The global managed print services market size reached US$ 46.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 89.5 Billion by 2032, exhibiting a growth rate (CAGR) of 7.4% during 2024-2032.

Factors Affecting the Growth of the Managed Print Services Industry:

• Increasing Focus on Cost Reduction and Efficiency:

Businesses are always looking for ways to improve their operations and cut down on costs. This has led to significant growth in the managed print services (MPS) industry. MPS providers offer complete solutions that cover print device management, supplies, maintenance, and support services. These solutions help companies streamline their printing operations, reduce waste, and achieve better efficiencies. By getting help from MPS providers, businesses can concentrate on their main activities, leading to increased productivity and cost savings. This emphasis on efficiency and cost reduction is a major driving force behind the demand for managed print services.

• Environmental Sustainability Initiatives:

Organizations globally are increasingly focused on environmental sustainability, leading to a rise in the use of Managed Print Services (MPS). These services support green initiatives by improving print setups to cut down on paper waste and energy use. MPS providers carefully review a company's print setup to introduce eco-friendly measures like double-sided printing and digital processes, effectively reducing the environmental impact. This push for sustainable practices is prompting businesses to adopt MPS, fueling industry expansion as companies aim to play their part in environmental preservation.

• Advancements in Digital Technology:

The managed print services (MPS) sector is experiencing significant progress due to the swift advancements in digital technology, such as cloud computing, big data analytics, and the Internet of Things (IoT). These innovations are empowering MPS solutions to deliver enhanced device management, proactive maintenance, and detailed usage insights. By leveraging these technologies, MPS offerings can now provide more tailored and effective services, adjust to evolving business requirements, and offer valuable insights into printing habits and optimization possibilities. This integration of digital tools into MPS solutions not only boosts operational efficiency but also fosters a competitive advantage, fueling the industry's expansion.

Competitive Landscape with Key Player:

• ARC Document Solutions Inc.
• Brother Industries Ltd.
• Canon Inc.
• HP Inc.
• Konica Minolta Inc.
• Lexmark International Inc.
• Ricoh Company Ltd.
• Sharp Corporation
• Toshiba Corporation
• WeP Solutions Ltd 
• Xerox Corporation.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/managed-print-services-market/requestsample

Report Segmentation:

The report has segmented the market into the following categories:

By Type:

• Print Management
• Device Management
• Discovery and Design
• Document Imaging

Device management dominates the market as it is essential for optimizing the efficiency and performance of printing devices, ensuring cost savings and reliability for businesses.

By Deployment Mode:

• On-premises
• Cloud-based

Cloud-based deployment accounts for the largest market share as it offers scalability, flexibility, and remote management capabilities, appealing to organizations looking to streamline their print operations without significant infrastructure investment.

By End User:

• Large Enterprises
• Medium Enterprises
• Small Enterprises

Large enterprises represent the largest segment due to their higher volume of print needs and greater capacity for adopting comprehensive MPS solutions that can manage complex print environments across multiple locations.

By Industry Vertical:

• BFSI
• Government
• Healthcare and Education
• Manufacturing
• Retail and Consumer Goods
• IT and Telecom
• Others

BFSI sector holds the largest share due to its stringent document security requirements and the need for efficient document management systems to handle large volumes of sensitive financial data.

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America's dominance in the managed print services market is attributed to substantial investment in research and development (R&D), leading to advanced technological developments in this field.

Global Managed Print Services Market Trends:

The managed print services (MPS) market is growing strong, driven by businesses' need for cost savings, productivity improvements, and eco-friendly practices. Companies in various industries are embracing MPS to streamline print operations, minimize waste, and reduce their environmental footprint. This adoption is supported by digital advancements like cloud computing and IoT, which enhance MPS by offering better device management and predictive analytics. As organizations prioritize their key strengths, the use of MPS for efficient print solutions is rising, making it a crucial part of contemporary business strategies focused on operational excellence and sustainability.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact Us:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163