Managed print services Market Projected to Hit USD 82.6 Billion at a 9.2% CAGR by 2030
The Managed
Print Services Market is estimated to register a note worthy
CAGR of 9.2% and will reach 82.6 Billion by 2030. It is estimated that the
market will further expand and will reach up to 51 Billion during the forecast
period. The major drivers of the market growth are the rising demand for
advanced technologies such as software as a service and cloud computing. The
advanced technological upgrade is improving the market growth significantly.The
research report on the managed print services market provides a detailed
historical review of the managed print services along with a detailed analysis
of the microeconomic and macroeconomic factors affecting the market the most.
The major drivers and restraints for the global managed print services market
are profiled in the report, thus providing readers with a clear picture of what
is making the managed print services market move.
Market Boosters and Key Restraints
The size of the managed print services market is
set to expand in the coming years, on account of rising need to bring down the
cost of operations and elevate the convenience in providing customized
services. Managed print services help gather hindsight for businesses to
collect the skillset as well as the expertise needed for curbing the risk, complexity,
and cost of the unorganized infrastructure. These services also help gain
visibility and control document processes, which saves time, augment
productivity, enhances security and sustainability and automates further steps.
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Leading Companies
The players that are leading the worldwide market
for managed print services are Sharp Corporation (Japan),Konica Minolta
(U.K),Lexmark International Corporation (U.S.),Canon UK Limited (U.K),Toshiba
Corporation (Japan),Kyocera Corporation (Japan),Systems Technology, Inc.
(U.S.),ARC Document Solutions, Inc. (U.S.),HCL Technologies (India),Samsung
Electronics Co. Ltd. (South Korea),HP Development Company, L.P. (U.S.),Acrodex
Inc. (Canada),Ricoh Company, Ltd. (Japan),Konica Minolta, Inc. (Japan),Xerox
Corporation (U.S.),Seiko Epson Corporation (Japan),Wipro LTD (India)
Regional Analysis
The global managed print services
market has been regionally split into Asia Pacific
(APAC), Europe, North America, and the Rest of the World (RoW).
North America is the most profitable market for
managed print services, thanks to the soaring demand for cloud-based services
across large enterprises. In addition, most of the esteemed copier and print
manufacturers are based in North America, which enhances the revenue potential
of the market.
APAC is estimated to attain the highest growth rate
during the conjectured time frame, on account of the quickly rising number of
small & medium-sized businesses among others. Amplifying demand for managed
application services in the BFSI sector benefits the regional market as well.
Executives across the region face issues related to data security, as it
directly affects their brand reputation. These data security issues call for
managed print services, increasing their demand in the region. The surge in
cybercrime activities, high adoption of mobile devices for accessing the
corporate network, and surging importance of e-business are projected to boost
market demand in the ensuing years.
A number of countries in Europe like France, the
United Kingdom (U.K), and Germany are emerging as lucrative markets for managed
print services. The regional market is also progressing as a result of the
intensifying demand for multi-functional printers as well as cloud-based
services.
Segmentation:
The Managed Print Services Market
Segments are divided into deployment, end-users, component, and
organization size.
The Managed Print Services Industry on
the basis of organization size is further divided into large enterprises and
medium and small enterprises.
On the basis of components, Managed Print
Services Industry is further divided into software, hardware, services,
and others. The hardware segment is again divided into the printer, copier,
fax, and others.
On the basis of end-users, the Managed Print
Services Industry is bifurcated in telecommunications, healthcare, BFSI,
government, IT, and others.
Based upon deployment, the Managed Print
Services Industry is again divided into on-premise and on-cloud.
Recent News
Flex Technology Group (FTG), a leading managed
print services provider, has announced the opening of four new office locations
across the United States (U.S). These locations include Texas, California,
Dallas, Connecticut, New Haven, Arizona, Chico, and Mess.
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