Managed Print Services (MPS) Market by Component (premise, cloud-based, and hybrid solutions), Channel Types (Printer/Copier Manufacturers, System Integrators/Resellers, And Independent Software Vendors (ISVS)), Deployment (Small and Medium Enterprises (SMES) And Large Enterprises), Application (BFSI, Government, Education, Healthcare, Telecom And IT, Manufacturing, Legal, And Others) and Region, Global trends and forecast from 2023 to 2030

Managed print services (MPS) Market Segmentation Analysis

The global managed print services (MPS) market is divided into four segments, component, type, deployment, application and region. By deployment model the market is divided into premise, cloud-based, and hybrid solutions. By channel type, the market is divided into printer/copier manufacturers, system integrators/resellers, and independent software vendors (ISVs). By application the market is classified into BFSI, government, education, healthcare, telecom and IT, manufacturing, legal, and others. By organization size the market is classified into small and medium enterprises (SMEs) and large enterprises.

Based on deployment model, cloud-based segment dominating in the managed print services (MPS) market. The prevalence of cloud-based solutions in the Managed Print Services (MPS) market reflects a broader industry trend towards adaptable and scalable technologies. Cloud-based MPS stands out as a flexible and accessible approach to print management, consolidating tasks and resources. It eliminates the need for on-premise infrastructure, enabling organizations to harness cloud services for secure and efficient print management. This deployment model facilitates remote monitoring, proactive maintenance, and automated supply replenishment, enhancing overall operational efficiency.

Its alignment with the evolving needs of modern workplaces ensures accessibility from any location with an internet connection, fostering collaboration among geographically dispersed teams. The scalability of cloud-based MPS allows businesses to easily adjust to changing print volumes and requirements, making it an appealing choice for enterprises seeking cost-effective, agile, and technologically advanced print management solutions. As organizations increasingly prioritize digital transformation and remote work capabilities, the cloud-based deployment model emerges as a driving force in the MPS market, offering a strategic and future-ready approach to print services.

Based on organization size, small and medium enterprises (SMEs) segment dominating in the managed print services (MPS) market. The Small and Medium Enterprises (SMEs) segment’s dominance in the Managed Print Services (MPS) market underscores its strategic importance for smaller businesses seeking efficient and cost-effective print management solutions. SMEs, constrained by resources, find substantial benefits in outsourcing non-core functions like print management to specialized service providers.

MPS grants SMEs access to advanced print technologies and expertise without requiring significant upfront investments. These services are tailored to meet the specific needs of smaller enterprises, streamlining printing processes, optimizing resource utilization, and ensuring cost-effective operations. As SMEs embrace digital transformation and modern workflows, MPS becomes a valuable tool for enhancing efficiency and document management.

The scalability and flexibility of MPS align seamlessly with the dynamic nature of SMEs, enabling easy adaptation to changing print requirements and technological advancements. Choosing MPS based on their organizational size allows SMEs to achieve enhanced operational efficiency, reduced printing costs, and improved overall productivity, enhancing their competitiveness in the market.

Managed Print Services (MPS) Market Dynamics

Driver

Growing adoption of cloud-based MPS is driving managed print services (MPS) market.

The increasing adoption of cloud-based Managed Print Services (MPS) is a significant trend shaping the evolution of print management solutions. This approach provides organizations with a dynamic and flexible way to handle print-related tasks and resources by utilizing cloud infrastructure and services. A key driver behind this trend is the scalability and accessibility inherent in cloud-based solutions. By eliminating the need for on-premise infrastructure, organizations can securely centralize print management tasks in the cloud, allowing for remote monitoring, proactive maintenance, and automated supply replenishment, leading to enhanced operational efficiency.

Cloud-based MPS aligns well with the evolving dynamics of modern workplaces, providing accessibility from any location with an internet connection. This adaptability fosters collaboration among geographically dispersed teams, creating a more agile and connected work environment. The scalability of cloud-based MPS makes it an appealing choice for enterprises seeking cost-effective, scalable, and technologically advanced print management solutions that can easily adapt to fluctuating print volumes and changing requirements.

Restraint

Initial cost of implementation can impede the managed print services (MPS) market during the forecast period.

While the managed print services (MPS) market shows promising growth prospects, it faces a notable obstacle in the initial cost of implementation. Organizations contemplating the adoption of MPS often grapple with substantial upfront expenses related to deploying print management solutions. These costs involve various elements such as acquiring hardware, obtaining software licenses, and integrating the MPS with existing IT infrastructure. The demand for specialized printing equipment, multifunctional devices, and advanced software adds to the financial commitment, especially for businesses with limited budgets or smaller enterprises.

The initial investment extends to employee training programs, ensuring the proficient use of the newly implemented MPS. This financial barrier might challenge organizations hesitant about substantial upfront investments, potentially impeding widespread adoption. However, with ongoing technological advancements and market maturation, there’s potential for increased cost efficiencies and scalability, fostering the long-term viability and accessibility of MPS solutions for a broader business spectrum.

Addressing the challenge of the initial cost of implementation will be pivotal for ensuring sustained and inclusive growth in the managed print services market throughout the forecast period.

Opportunities

Growth of the digital economy aids the managed print services (MPS) market growth.

The managed print services (MPS) market is experiencing significant growth fueled by the expansion of the digital economy. With businesses increasingly transitioning to digital processes, there is a heightened demand for efficient document management solutions. MPS serves as a strategic facilitator for organizations navigating this digital shift, offering comprehensive print management services. In the evolving digital landscape, where workflows are progressively becoming digitized, MPS acts as a crucial link between traditional paper-based practices and modern digital workflows.

These services not only optimize printing resources but also seamlessly integrate printing tasks into digital processes. Effective management of both physical and digital documents becomes imperative in achieving operational efficiency and compliance. Furthermore, as businesses prioritize sustainability and eco-friendly initiatives, MPS plays a crucial role in reducing paper waste and promoting environmentally conscious printing practices.

The continued growth of the digital economy further underscores the significance of managed print services, positioning them as a vital element in the ongoing digital transformation efforts across diverse industries.

Managed print services (MPS) Market Trends

• Cloud-based MPS solutions are gaining traction as organizations seek to streamline operations, reduce IT overhead, and enhance scalability. Cloud-based MPS offers centralized management, remote access, and real-time data analytics, enabling businesses to effectively monitor and optimize their printing infrastructure.
• MPS providers are leveraging data analytics to gain deeper insights into customer printing behavior, identify cost-saving opportunities, and improve overall efficiency. By analyzing print usage patterns, device performance, and toner consumption, MPS providers can tailor solutions to specific customer needs and optimize print environments.
• Organizations are increasingly concerned about the security of their printed documents and the potential for data breaches. MPS providers are addressing these concerns by offering enhanced security features, such as multi-factor authentication, data encryption, and secure print release protocols.
• The rise of remote work and Bring Your Own Device (BYOD) policies is driving demand for mobile printing solutions and secure access to printing devices from anywhere. MPS providers are developing mobile apps and cloud-based printing platforms to cater to this growing demand.
• Organizations are increasingly prioritizing sustainability initiatives, and MPS providers are responding with eco-friendly solutions that reduce waste, conserve energy, and minimize environmental impact. This includes offering recycled toner cartridges, promoting duplex printing, and implementing energy-efficient devices.
• MPS is moving beyond print management and becoming an integral part of enterprise workflows. MPS providers are integrating their solutions with enterprise resource planning (ERP), customer relationship management (CRM), and document management systems to streamline document processes and enhance productivity.

Competitive Landscape

The competitive landscape of the managed print services (MPS) market was dynamic, with several prominent companies competing to provide innovative and advanced managed print services (MPS) solution.

1. HP Inc.
2. Dell Technologies Inc.
3. Lenovo Group Limited
4. Microsoft Corporation
5. Apple Inc.
6. Cisco Systems, Inc.
7. Google LLC
8. com, Inc.
9. Fujitsu Limited
10. Acer Inc.
11. Toshiba Corporation
12. ASUS Computer International
13. Huawei Technologies Co., Ltd.
14. Sony Corporation
15. LG Electronics Inc.
16. Panasonic Corporation
17. NEC Corporation
18. Sharp Corporation
19. Hitachi, Ltd.
20. Samsung Electronics Co., Ltd.
21. Ricoh

Recent Developments:

SEP 21, 2022:  Xerox announced a new strategic partnership with LinkSquares to deliver contract lifecycle management (CLM) capabilities to its customers in the U.S. as part of the company’s Capture & Content Services offerings. The partnership follows Xerox Ventures’ second investment in LinkSquares earlier this year.

October 31, 2023: Ricoh Company, Ltd. announced that Ricoh and Siemens Digital Industries Software, a world-leading provider of product lifecycle management and manufacturing operations management software, have started a collaboration to realize the industrial aluminum Binder Jetting (BJT) solution for mass production.

Regional Analysis

North America accounted for the largest market in the managed print services (MPS) market. North America accounted for the 33% market share of the global market value. North America emerges as the dominant force in the managed print services (MPS) sector, propelled by several factors that underline its leadership. The region’s technologically advanced landscape, combined with a high level of awareness and widespread adoption of managed print services among enterprises, serves as a primary catalyst. Businesses in North America are known for their swift embrace of innovative solutions to enhance operational efficiency and curtail costs, and MPS fits seamlessly into this ethos. The market’s growth is further supported by the presence of numerous established MPS providers and a robust IT infrastructure. Additionally, the region’s emphasis on sustainability and environmental responsibility contributes to the growing demand for MPS solutions, prized for their ability to minimize paper waste and promote eco-friendly printing practices.

In the mature European market, characterized by a robust technological infrastructure, the adoption of Managed Print Services (MPS) is driven by a strong emphasis on optimizing operational efficiency and reducing costs. Much like their counterparts in North America, European enterprises prioritize innovative solutions to streamline document management workflows. The continent’s stringent regulatory environment, particularly concerning data privacy and compliance, further amplifies the demand for MPS, with businesses actively seeking secure and compliant print management solutions.

In the dynamic and rapidly evolving Asia-Pacific region, MPS is positioned as a strategic tool for businesses looking to enhance efficiency. The expanding economies, coupled with a growing wave of digital transformation, contribute significantly to the rising adoption of MPS. As businesses across Asia-Pacific embrace modern technologies, MPS becomes instrumental in bridging traditional and digital document management practices. The diverse market, encompassing both established economies and emerging markets, creates a varied landscape for MPS providers, who tailor their services to meet the specific needs of businesses at different stages of technological maturity.

Target Audience for Managed print services (MPS) Market

• Managed print services providers
• IT service providers
• Cloud service providers
• Printer suppliers
• Original equipment manufacturers (OEMs)
• System integrators and third-party vendors
• Software solution providers
• Government bodies
• Technology investors
• Enterprise data center professionals
• Research institutes and organizations

Market research and consulting firms

Import & Export Data for Managed Print Services (MPS) Market

Exactitude consultancy provides import and export data for the recent years. It also offers insights on production and consumption volume of the product. Understanding the import and export data is pivotal for any player in the Managed Print Services (MPS) market. This knowledge equips businesses with strategic advantages, such as:

1. Identifying emerging markets with untapped potential.
2. Adapting supply chain strategies to optimize cost-efficiency and market responsiveness.
3. Navigating competition by assessing major players’ trade dynamics.

Key insights

• Trade volume trends: our report dissects import and export data spanning the last five years to reveal crucial trends and growth patterns within the global Managed Print Services (MPS) Market. This data-driven exploration empowers readers with a deep understanding of the market’s trajectory.
• Market players: gain insights into the leading players driving the Surgical Drill trade. From established giants to emerging contenders, our analysis highlights the key contributors to the import and export landscape.
• Geographical dynamics: delve into the geographical distribution of trade activities. Uncover which regions dominate exports and which ones hold the reins on imports, painting a comprehensive picture of the industry’s global footprint.
• Product breakdown: by segmenting data based on Surgical Drill types –– we provide a granular view of trade preferences and shifts, enabling businesses to align strategies with the evolving technological landscape.

Import and export data is crucial in reports as it offers insights into global market trends, identifies emerging opportunities, and informs supply chain management. By analyzing trade flows, businesses can make informed decisions, manage risks, and tailor strategies to changing demand. This data aids governments in policy formulation and trade negotiations, while investors use it to assess market potential. Moreover, import and export data contributes to economic indicators, influences product innovation, and promotes transparency in international trade, making it an essential Storage Capacity for comprehensive and informed analyses.

Segments Covered in the Managed Print Services (MPS) Market Report

Managed Print Services (MPS) Market by Deployment Model

• On-premise
• Cloud-based
• Hybrid

Managed Print Services (MPS) Market by Channel Type

• Printer/Copier Manufacturers
• System Integrators/Resellers
• Independent Software Vendors (ISVs)

Managed Print Services (MPS) Market by Organization Size

• Small and Medium Enterprises (SMEs)
• Large Enterprises

Managed Print Services (MPS) Market by Application

• BFSI
• Government
• Education
• Healthcare
• Telecom and IT
• Manufacturing
• Legal
• Others

Managed Print Services (MPS) Market by Region

• North America
• Europe
• Asia Pacific
• South America

Middle East and Africa

Key Question Answered

• What is the expected growth rate of the managed print services (MPS) market over the next 7 years?
• Who are the major players in the managed print services (MPS) market and what is their market share?
• What are the Application industries driving market demand and what is their outlook?
• What are the opportunities for growth in emerging markets such as Asia-Pacific, the middle east, and Africa?
• How is the economic environment affecting the managed print services (MPS) market, including factors such as interest rates, inflation, and exchange rates?
• What is the expected impact of government policies and regulations on the managed print services (MPS) market?
• What is the current and forecasted size and growth rate of the global managed print services (MPS) market?
• What are the key drivers of growth in the managed print services (MPS) market?
• Who are the major players in the market and what is their market share?
• What are the distribution channels and supply chain dynamics in the managed print services (MPS) market?
• What are the technological advancements and innovations in the managed print services (MPS) market and their impact on product development and growth?
• What are the regulatory considerations and their impact on the market?
• What are the challenges faced by players in the managed print services (MPS) market and how are they addressing these challenges?
• What are the opportunities for growth and expansion in the managed print services (MPS) market?
• What are the service offerings and specifications of leading players in the market?