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Managed Printing Services (MPS) Market By Type (Print Management, Device Management, Discovery And Design, Document Imaging), By Deployment Segment (On-Premise, Cloud), By Enterprise Size Segment (Large Enterprises, SMEs), Application Segment (Education, Food & Beverages, Government, Healthcare, Industrial Manufacturing, IT & Telecom, Retail, Others) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

Increasing Digitalization Among the Organization is Driving the Growth of Managed Printing Services (MPS) Market

Globally, the managed printing services (MPS) market is expected to grow with a CAGR of 10.5% during the forecast period from 2019 to 2027, starting from US$ 30.25 bn in 2018. The growing digitalization propels the market among organizations. However, as the competition among the market players is rising, organizations are looking for ways to optimize operational processes and flexibility to meet customized requirements. MPS significantly addresses these challenges and enables the organization to streamline operations by offering better control over the process. In addition, MPS allows the organization to create digital files of the documents by scanning and enables the various departments to collaborate better.

MPS enables the organization to analyze documents effectively by offering advanced analytical technologies such as optical character reorganization (OCR). This is aiding in the growth of the market. In addition, the growing need among organizations to reduce infrastructure costs is also a major driver for the MPS market. Furthermore, the enhanced security offered by the MPS is augmenting its demand among organizations. However, new strategic partnerships and agreements between the service providers and organizations are hindering market growth. Moreover, the recurring cost associated with the use of MPS is also holding back the adoption among the organization.

Market Synopsis

Discovery & Design Services is Estimated to Grow Significantly During the Forecast Period  

The MPS market is based on print management, device management, discovery and design, and document imaging. Device management accounted for more than 40% of the revenue in 2018. The growth of the market is driven by the high maintenance and operational cost of printing hardware. On the other hand, discovery and design are estimated to gain traction during the forecast period due to the organization's increasing focus on documentation quality.

North America is Leading the Managed Printing Services (MPS) Market    

North America dominated the managed print services market in 2018 with a share of more than 38% of the revenue. The growth of the market is driven by the increasing adoption of the MPS in the healthcare sector. Furthermore, the Increasing need among the organizations to focus on the core business competencies is also accelerating the market growth. Additionally, the presence of major printing solutions providers in the region also supports the growth of the market.

The major vendors in the managed printing services (MPS) market are Canon Inc., HP Inc., ARC Document Solutions, Konica Minolta Inc., Lexmark International Inc., Kyocera Document Solutions, Ricoh Company Ltd., Toshiba, Sharp Electronics, and Xerox Corporation.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The managed printing services (MPS) market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global managed printing services (MPS) market based on type, deployment, enterprise size, application, and geography.

Frequently Asked Questions

The market for Managed Printing Services (MPS) is expected to reach US$ XX by 2027.

The Managed Printing Services (MPS) market is expected to see significant CAGR growth over the coming years, at 10.5%.

The report is forecasted from 2019-2027.

Who are the major players in this market?

ARC Document Solution, Canon Inc., HP Inc., Konica Minolta Inc., Kyocera Document Solution, Lexmark International Inc., Ricoh Company Ltd., Sharp Electronics, Toshiba are some of the major players in the global market.

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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Nov 2019
Category:  Technology & Media
Report ID:   60064
Report Format:   PDF
Pages:   120
Rating:    4.2 (70)
Delivery Time: 24 Hours to 48 Hours   
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