Global Managed Print Service Market showed crucial growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ xx.xx billion over the forecast period. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 14.10% during the forecast period that is 2017-2025. The managed print service is a service, which is offered by an external provider to manage and optimize the printing of any specific document. The service providers also take care of the maintenance, support and assessment of the printing machines. The managed print service market is anticipated to have significant growth over the projected period, owing to the rising awareness to reduce wastage of paper coupled with the reduction in the cost of operation to meet customized needs.
Global Market Growth Opportunities (Revenue, Growth) By 2017-2025
This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global managed print service market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global managed print service market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.
Reduction in Operational and Capital Costs
The service providers in this market are offering the printing services at low costs, which is driving the current managed print service market. For instance, ISS Solutions provides MPS program, which includes investment plans, these plan helps to recognize the actual cost of printing. Furthermore, the ARC Document Solution offers the managed print solutions that helps to eliminate the hidden printing costs. Therefore, helping in streamline the printing process. Other benefits of these services are, such as time saving, rise in productivity and enhancing efficiency are propelling the managed print service market growth.
Cloud print deployment is anticipated to hold the major share in the managed print service market. Cloud based print services are the services which routes the printing tasks from devices such as computer, smartphone and transfer to it to internet-connected printer. The growth of cloud-based printing service is attributed to its cost-effective solutions over conventional IT printer as it discourages the complex setup and driver installation.
Large enterprise in enterprise size segment is anticipated to have substantial growth during the forecast period. These enterprises majorly use huge printing machines, owing to which they are largely prone to hardware problems. The necessity for maintenance and assessment of the printing machines in large enterprises would propel the market growth. On the flip side, medium and small enterprises are expected to have significant growth over the forecast period. The growth is due to the rising business activities to make awareness of such services in the medium and small enterprises. For instance, in January, 2018, Xerox partnered with Midwich, which provides cloud-based print services, these partnership aims to provide print service solutions to small and medium enterprises.
BFSI segment stands to hold the major share in the managed print service market over the projected period. This industry highly depends on the record keeping to facilitate their functions. For instance, the financial services and insurance requires a lot of paper work due to regulatory process and record keeping, which is time consuming and incurs huge cost. The managed print services may help in reducing the time and cost, thereby, encouraging the market growth.
The global managed print service market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. North America is anticipated to dominate the global managed print service market during the forecast period, owing to the rising awareness amongst the SME and large enterprises towards the adaptation of managed print services. In addition to this, the region embraces the strong foothold of print service companies and copier manufacturers, which is also frosting the managed print services market. Some of the major companies in this region are Xerox Corporation, HP Development Company, L.P., Lexmark International, Inc. and others.
Global Managed Print Service Market Size, Share Analysis By Region 2017
Asia Pacific is expected to have substantial growth in the managed print services (MPS) market over the projected period. The growth is attributed to the rising industrialization in this region, which is creating the necessity for the managed printing solutions to cut the cost of printing. Middle East and Africa held the measurable growth in the global market in 2018 and will expand at the significant CAGR during the forecast years.
Global Managed Print Service Market Study Objective
1. To forecast the market size of managed print service market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.
2. Market analysis and forecast of managed print service market on the basis of region, substrate and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.
3. To analyze and elaborate significant factors that will have major impact on the growth of managed print service market, such as drivers, restraints, challenges and opportunities.
4. Regional analysis of managed print service market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.
5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.
6. To provide detailed analysis of competitive and strategic developments in the managed print service market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.
Key Players Landscape
Key players in the market are Xerox Corporation, Samsung Electronic Co. Ltd., Toshiba Corporation, ARC Document Solution, Ricoh Company, Ltd., Lexmark International Corporation and Kyocera Corporation among others. Mergers & acquisitions, product launch and development., partnership & collaborations are the key undertakings by the companies to expand their businesses. For instance, in July, 2018, Ricoh Company Ltd., announced the established new unit for office printing machines in China. The newly established factory is dedicated towards the manufacturing of office equipment including office printing machines. Moreover, it would also enhance the quality of production by installing robots and factory automation.
Global Managed Print Service Market Study Report Offer You!
The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.
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