Managed Print Services (MPS) Market Opportunities, Demand and Revenue Forecast
Posted by surendra choudhary on February 17th, 2021
Managed print services eliminates a lot of paper waste, which encourages organizations to only print necessary documents. There are growing concerns regarding paper wastage and unnecessary energy consumption. The level of environmental concern varies significantly. Due to these factors, organizations are progressively adopting managed print services as these services help organizations to meet their demands for sustainability and to reduce paper wastage. Cost savings might vary according to the printing usage in different industry sectors. Precision Document Solutions, a managed print services vendor, claimed to guarantee output cost savings of 30% through its comprehensive managed print service solutions for the healthcare sector. Law firms and government sectors, which are more document intensive as compared to other industries, are expected to achieve higher ROI (Return on investment) on the deployment of MPS solutions.
Managed print services provide efficient maintenance and reduction in downtime. Maintenance is important to ensure the smooth functioning of printers in the long run and also to reduce the downtime. Furthermore, the replacement of cartridges, ink toners, papers, etc. is a part of printer maintenance, using up additional time and increasing operational expenses. Thus, organizations can reduce the time utilized for maintenance and the costs related to it, as MPS takes care of maintenance without incurring additional expenses other than monthly service charges or a one-time maintenance charge.
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The global managed print services (MPS) market has been segmented in terms of deployment, enterprise size, channel, industry, and region. In terms of deployment, the market has been segmented into cloud, on-premise, and hybrid. The global market is divided by enterprise size into small & medium enterprises (SME’s) and large enterprise. The small and medium enterprises (SME’s) segment comprises the income generated from the sale of managed print services (MPS) to enterprise/companies with strength of 1-500 employees. Large enterprise segment reflects the revenue generated from the sale of managed print services (MPS) to enterprise/companies with a labor force of more than 500 employees. In large enterprises, adoption of managed print services (MPS) is already high as it is a cost effective process, improves security measures, and assists in compliance management. Based on channel, the global managed print services (MPS) market is categorized into printer/copier manufacturers and channel partner/core MPS providers. On the basis of industry, the market is divided into banking, financial services, and insurance (BFSI), telecom and IT, government and public, healthcare, education, legal, construction, manufacturing and others. Geographically, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The North America region is dominant in the adoption of managed print services (MPS). The high adoption of digital technology across all major verticals such as healthcare and government helps the market to expand in North America, principally in the U.S. The market is in the emerging stage in the regions of Asia Pacific (APAC), South America, and Middle East & Africa (MEA). Therefore, these regions offer immense scope for the adoption of managed print services (MPS) channels. Additionally, the growing technological developments in the field of cloud, analytics, and the emergence of mobile technologies have led to the high adoption of managed print services (MPS) channels in significant verticals such as banking, financial services, and insurance (BFSI), transportation and logistics, and construction.
This report on the global managed print services (MPS) market provides market revenue share analysis of the various vital participants. Some of the key players profiled in the report include HP Inc., Xerox Corporation, Lexmark International Inc., Fujitsu Ltd, Canon, Inc., Konica Minolta, Inc., Kyocera Corporation, Ricoh Company Ltd., Toshiba Corporation, ARC Document Channels, Inc., Seiko Epson Corporation, Wipro Limited, Honeywell Corporation, and Print Audit, Inc.
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About the Authorsurendra choudhary
Joined: February 12th, 2019
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