Managed Print Services Market
Detailed Analysis of Managed Print Services (MPS) Market
1. Market Overview
Managed Print Services (MPS) is a comprehensive approach to optimizing and managing an organization's document output, including printers, copiers, and multifunction devices (MFDs). MPS providers offer services such as device management, supplies replenishment, maintenance, and reporting to improve efficiency, reduce costs, and enhance document security.
The MPS market has grown significantly due to the increasing need for cost-effective and sustainable printing solutions, especially in large enterprises and SMEs. The market is driven by the shift from traditional printing to digital workflows, the need for operational efficiency, and the growing emphasis on environmental sustainability.
2. Market Size and Growth
- Current Market Size: As of 2023, the global MPS market is valued at approximately $40 billion and is expected to grow at a Compound Annual Growth Rate (CAGR) of 7-9% over the next five years, the market is projected to reach a value of approximately 90 billion by 2033
- Key Growth Drivers:
- Increasing adoption of cloud-based MPS solutions.
- Rising demand for cost optimization and operational efficiency.
- Growing awareness of environmental sustainability and paper waste reduction.
- Integrating advanced technologies like IoT, AI, and analytics in MPS offerings.
| Report Attributes | Details |
| Study Period | 2023 to 2033 |
| Base Year | 2023 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2020-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Xerox Corporation HP Development Company, L.P. Ricoh Lexmark International, Inc. Konica Minolta, Inc. ARC Document Solutions, LLC SAMSUNG ELECTRONICS CO., LTD. Canon Inc. SHARP CORPORATION TOSHIBA CORPORATION Others |
| SEGMENTS COVERED | By Type, By Application, By End User and By Geography |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
3. Market Segmentation
The MPS market can be segmented based on the following criteria:
a. By Organization Size
- Large Enterprises: Dominant adopters of MPS due to their complex printing needs and higher volumes.
- Small and Medium Enterprises (SMEs): Increasingly adopting MPS to reduce costs and streamline operations.
b. By Deployment Mode
- On-Premises: Traditional MPS solutions hosted on the client's infrastructure.
- Cloud-Based: Rapidly growing segment due to scalability, flexibility, and cost-effectiveness.
c. By Channel
- Printer/Copier Manufacturers: Companies like HP, Canon, and Xerox offer MPS as part of their product portfolios.
- Independent Software Vendors (ISVs): Provide specialized MPS software and solutions.
- Channel Partners: Resellers and distributors offering MPS solutions.
d. By Industry Vertical
- Healthcare: High demand for secure and compliant printing solutions.
- BFSI (Banking, Financial Services, and Insurance): Focus on cost reduction and document security.
- Education: Increasing adoption of MPS to manage printing needs in schools and universities.
- Government: Emphasis on cost efficiency and sustainability.
- Retail and Manufacturing: Need for streamlined document workflows.
4. Key Market Trends
- Digital Transformation: Organizations are integrating MPS with digital workflows to enhance productivity and reduce reliance on paper.
- Sustainability Initiatives: MPS providers are offering eco-friendly solutions, such as energy-efficient devices and recycling programs.
- Security Enhancements: Rising concerns about data breaches have led to the integration of advanced security features in MPS solutions.
- Predictive Maintenance: Use of IoT and AI to predict and prevent device failures, reducing downtime.
- Subscription-Based Models: Increasing popularity of pay-per-use and subscription-based pricing models.
5. Competitive Landscape
The MPS market is highly competitive, with key players focusing on innovation, partnerships, and acquisitions to strengthen their market position.
a. Major Players
- HP Inc.: A leading provider of MPS solutions with a strong focus on innovation and sustainability.
- Xerox Corporation: Known for its comprehensive MPS offerings and advanced document management solutions.
- Canon Inc.: Offers a wide range of MPS solutions tailored to different industries.
- Ricoh Company, Ltd.: Focuses on integrating MPS with digital workflows and IoT.
- Konica Minolta: Provides advanced MPS solutions with a focus on AI and analytics.
b. Strategies
- Product Innovation: Developing advanced MPS solutions with AI, IoT, and cloud integration.
- Partnerships and Collaborations: Partnering with software vendors and channel partners to expand market reach.
- Mergers and Acquisitions: Acquiring smaller players to enhance capabilities and market share.
6. Regional Analysis
- North America: Largest market for MPS due to high adoption rates in the U.S. and Canada. The region is driven by the presence of major players and the need for cost optimization.
- Europe: Significant growth in MPS adoption, particularly in the UK, Germany, and France, driven by sustainability initiatives and regulatory compliance.
- Asia-Pacific: Fastest-growing region due to rapid digital transformation in countries like China, India, and Japan.
- Latin America and Middle East & Africa: Emerging markets with increasing adoption of MPS in sectors like healthcare and government.
7. Challenges and Restraints
- High Initial Costs: Implementation of MPS solutions can be expensive, particularly for SMEs.
- Resistance to Change: Organizations may be reluctant to transition from traditional printing to MPS.
- Data Security Concerns: Increasing cyber threats pose challenges for MPS providers in ensuring document security.
- Economic Uncertainty: Economic downturns can impact organizations' spending on MPS solutions.
8. Future Outlook
- The MPS market is expected to continue its growth trajectory, driven by advancements in technology and increasing demand for cost-effective and sustainable printing solutions.
- Emerging trends like AI-driven analytics, IoT-enabled devices, and blockchain for document security will shape the future of the MPS market.
- The Asia-Pacific region is expected to witness the highest growth due to rapid industrialization and digital transformation.
9. Conclusion
The Managed Print Services market is a dynamic and evolving sector, offering significant opportunities for organizations to optimize their printing infrastructure, reduce costs, and enhance sustainability. As technology continues to advance, MPS providers will need to innovate and adapt to meet the changing needs of their clients. The market's future looks promising, with strong growth potential across various regions and industries.
Managed Print Services Market Segments
By Channel
· Printers/Copiers Manufacturers
· System Integrators
· Independent Software Vendors
By Deployment
· On- Premise
· Cloud-Based
By Enterprise Size
· SMEs
· Large Enterprises
By End-Use
· BFSI
· Education
· Government
· Healthcare
· Industrial Manufacturing
· Retail & Consumer Goods
· Telecom & IT
· Others
Managed Print Services Market Players
Xerox Corporation
HP Development Company, L.P.
Ricoh
Lexmark International, Inc.
Konica Minolta, Inc.
ARC Document Solutions, LLC
SAMSUNG ELECTRONICS CO., LTD.
Canon Inc.
SHARP CORPORATION
TOSHIBA CORPORATION
Others
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Research Methodology
1.3.1. Information Procurement
1.3.2. Information or Data Analysis
1.3.3. Market Formulation & Data Visualization
1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
1.4.1. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Enterprise Managed Print Services Market Variables, Trends, & Scope
3.1. Market Introduction/Lineage Outlook
3.2. Market Size and Growth Prospects (USD Million)
3.3. Market Dynamics
3.3.1. Market Drivers Analysis
3.3.2. Market Restraints Analysis
3.3.3. Industry Opportunities
3.3.4. Industry Challenges
3.4. Enterprise Managed Print Services Market Analysis Tools
3.4.1. Porter’s Analysis
3.4.1.1. Bargaining Power of the Suppliers
3.4.1.2. Bargaining Power of the Buyers
3.4.1.3. Threats of Substitution
3.4.1.4. Threats from New Entrants
3.4.1.5. Competitive Rivalry
3.4.2. PESTEL Analysis
3.4.2.1. Political Landscape
3.4.2.2. Economic and Social Landscape
3.4.2.3. Technological Landscape
3.4.2.4. Environmental landscape
3.4.2.5. Legal Landscape
Chapter 4. Managed Print Services Market: Channel Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Managed Print Services Market: Channel Movement Analysis, 2023 & 2033 (USD Million)
4.3. Printers/Copiers Manufacturers
4.3.1. Printers/Copiers Manufacturers Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.4. System Integrators
4.4.1. System Integrators Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.5. Independent Software Vendors
4.5.1. Independent Software Vendors Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Managed Print Services Market: Deployment Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Managed Print Services Market: Deployment Movement Analysis, 2023 & 2033 (USD Million)
5.3. On-Premise
5.3.1. On-Premise Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.4. Cloud-Based
5.4.1. Cloud-Based Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Managed Print Services Market: Enterprise Size Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Managed Print Services Market: Enterprise Size Analysis, 2023 & 2033 (USD Million)
6.3. SMEs
6.3.1. SMEs Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4. Large Enterprises
6.4.1. Large Enterprises Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Managed Print Services Market: End Use Estimates & Trend Analysis
7.1. Segment Dashboard
7.2. Managed Print Services Market: End Use Analysis, 2023 & 2033 (USD Million)
7.3. BFSI
7.3.1. BFSI Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.4. Education
7.4.1. Education Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.5. Government
7.5.1. Government Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.6. Healthcare
7.6.1. Healthcare Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.7. Industrial Manufacturing
7.7.1. Industrial Manufacturing Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.8. Retail & Consumer Goods
7.8.1. Retail & Consumer Goods Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.9. Telecom & IT
7.9.1. Telecom & IT Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.10. Others
7.10.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Managed Print Services Market: Regional Estimates & Trend Analysis
8.1. Managed Print Services Market Share, By Region, 2023 & 2033, USD Million
8.2. North America
8.2.1. North America Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.2.2. U.S.
8.2.2.1. U.S. Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.2.3. Canada
8.2.3.1. Canada Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.2.4. Mexico
8.2.4.1. Mexico Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.3. Europe
8.3.1. Europe Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.3.2. U.K.
8.3.2.1. U.K. Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.3.3. Germany
8.3.3.1. Germany Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.3.4. France
8.3.4.1. France Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.4. Asia Pacific
8.4.1. Asia Pacific Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.4.2. Japan
8.4.2.1. Japan Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.4.3. China
8.4.3.1. China Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.4.4. India
8.4.4.1. India Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.4.5. Australia
8.4.5.1. Australia Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.4.6. South Korea
8.4.6.1. South Korea Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.5. Latin America
8.5.1. Latin America Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.5.2. Brazil
8.5.2.1. Brazil Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.5.3. Argentina
8.5.3.1. Argentina Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.6. Middle East and Africa
8.6.1. Middle East and Africa Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.6.2. South Africa
8.6.2.1. South Africa Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.6.3. Saudi Arabia
8.6.3.1. Saudi Arabia Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
8.6.4. UAE
8.6.4.1. UAE Managed Print Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 9. Competitive Landscape
9.1. Recent Developments & Impact Analysis by Key Market Participants
9.2. Company Categorization
9.3. Company Market Positioning
9.4. Company Heat Map Analysis
9.5. Strategy Mapping
9.5.1. Expansion
9.5.2. Mergers & Acquisition
9.5.3. Partnerships & Collaborations
9.5.4. New Product Launches
9.5.5. Research And Development
9.6. Company Profiles
9.6.1. Xerox Corporation
9.6.1.1. Participant’s Overview
9.6.1.2. Financial Performance
9.6.1.3. Product Benchmarking
9.6.1.4. Recent Developments/ Strategic Initiatives
9.6.2. HP Development Company, L.P.
9.6.2.1. Participant’s Overview
9.6.2.2. Financial Performance
9.6.2.3. Product Benchmarking
9.6.2.4. Recent Developments/ Strategic Initiatives
9.6.3. Ricoh
9.6.3.1. Participant’s Overview
9.6.3.2. Financial Performance
9.6.3.3. Product Benchmarking
9.6.3.4. Recent Developments/ Strategic Initiatives
9.6.4. Lexmark International, Inc.
9.6.4.1. Participant’s Overview
9.6.4.2. Financial Performance
9.6.4.3. Product Benchmarking
9.6.4.4. Recent Developments/ Strategic Initiatives
9.6.5. Konica Minolta, Inc.
9.6.5.1. Participant’s Overview
9.6.5.2. Financial Performance
9.6.5.3. Product Benchmarking
9.6.5.4. Recent Developments/ Strategic Initiatives
9.6.6. ARC Document Solutions, LLC
9.6.6.1. Participant’s Overview
9.6.6.2. Financial Performance
9.6.6.3. Product Benchmarking
9.6.6.4. Recent Developments/ Strategic Initiatives
9.6.7. SAMSUNG ELECTRONICS CO., LTD.
9.6.7.1. Participant’s Overview
9.6.7.2. Financial Performance
9.6.7.3. Product Benchmarking
9.6.7.4. Recent Developments/ Strategic Initiatives
9.6.8. Canon Inc.
9.6.8.1. Participant’s Overview
9.6.8.2. Financial Performance
9.6.8.3. Product Benchmarking
9.6.8.4. Recent Developments/ Strategic Initiatives
9.6.9. SHARP CORPORATION
9.6.9.1. Participant’s Overview
9.6.9.2. Financial Performance
9.6.9.3. Product Benchmarking
9.6.9.4. Recent Developments/ Strategic Initiatives
9.6.10. TOSHIBA CORPORATION
9.6.10.1. Participant’s Overview
9.6.10.2. Financial Performance
9.6.10.3. Product Benchmarking
9.6.10.4. Recent Developments
Managed Print Services Market Segments
By Channel
· Printers/Copiers Manufacturers
· System Integrators
· Independent Software Vendors
By Deployment
· On- Premise
· Cloud-Based
By Enterprise Size
· SMEs
· Large Enterprises
By End-Use
· BFSI
· Education
· Government
· Healthcare
· Industrial Manufacturing
· Retail & Consumer Goods
· Telecom & IT
· Others
Managed Print Services Market Players
Xerox Corporation
HP Development Company, L.P.
Ricoh
Lexmark International, Inc.
Konica Minolta, Inc.
ARC Document Solutions, LLC
SAMSUNG ELECTRONICS CO., LTD.
Canon Inc.
SHARP CORPORATION
TOSHIBA CORPORATION
Others
