The global Managed Print Services market is expected to grow at a CAGR of 8.5% in terms of revenue over the forecast period from 2021 to 2027, owing to a number of variables about which Research Informatic provides detailed insights and projections in the global Managed Print Services market research. Get the PDF Sample Copy […]
Global Managed Print Services Market Projected to Hit $70.37 Billion by 2027
The global Managed Print Services market is expected to grow at a CAGR of 8.5% in terms of revenue over the forecast period from 2021 to 2027, owing to a number of variables about which Research Informatic provides detailed insights and projections in the global Managed Print Services market research.
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A variety of factors are driving the growth of managed print services globally. Increasing implementation of cloud technology, data analytics, and software as a service is driving the managed print service market globally. Moreover, rapid and wide adoption of digitalization along with rising trends of efficient usage of resources in supporting the growth of managed print service market. In addition, increased paper usages in various sectors are contributing to raising environmental issues. Managed print services help in optimizing and managing the printings equipment and resources of the company that ultimately leads to improved efficiency of the devices as well as reduced paper wastage. However, recurring expenditures and high capital investments are expected to hinder the managed print service market.
Managed Print Services Market: Segmentation
The research study segments the global Managed Print Services market based on Deployment Mode, Channel Type, Organization Size, and Application. The market has been categorized by Deployment Mode into Cloud-based, On-premise, Hybrid; the Channel Type segment includes Printer/Copier Manufacturers, System Integrators/Resellers, Independent Software Vendors (ISVs); Based on Organization Size, the market is bifurcated into Small and Medium Enterprises (SMEs), and Large Enterprises. The market is further divided based on Application into the following categories namely BFSI, Government, Education, Healthcare, Telecom, and IT, Manufacturing, Legal, and Others. Among deployment mode categories, the hybrid category is expected to lead the segment during the forecast period owing to the rising adoption of services across various industries to minimize operational costs. Moreover, the BFSI category of the Application segment is anticipated to account for a larger share during the projected year. The primary factor that is fueling the BFSI industry’s growth is the dependency of the BFSI industry on the papers to maintain the records is high. Thus, demand for papers and printing devices is high in the BFSI industry that ultimately increases the demand for managed print services.
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Managed Print Services Market: Competitive Landscape
Some of the key players in the global Managed Print Services market include Xerox Holdings Corporation, Canon Managed Print Services, HP Development Company, Lexmark International Corporation, ARC Document Solutions, Inc., Kyocera Corporation, Sharp Corporation, Konica Minolta, Ricoh Company, Ltd., Toshiba Corporation, Samsung Electronics Co. Ltd., Exela Technologies, Lewan Technology, Photizo Group, Fujitsu, prosource, Printwise, imageOne, and Capital Solutions among others.
Global Managed Print Services Market: Segmentation
Managed Print Services Market, by Deployment Mode
- On-premise
- Cloud-based
- Hybrid
Managed Print Services Market, by Channel Type
- Printer/Copier Manufacturers
- System Integrators/Resellers
- Independent Software Vendors (ISVs)
Managed Print Services Market, by Organization Size
- Small and Medium Enterprises (SMEs)
- Large Enterprises
Managed Print Services Market, by Application
- BFSI
- Government
- Education
- Healthcare
- Telecom and IT
- Manufacturing
- Legal
- Others
Managed Print Services Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- India
- China
- Japan
- South Korea
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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