We use cookies for a better user experience. Read our Privacy Policy

I Agree

Global Managed Print Services Market: Despite Low Penetration, SMB Sector Exhibits Immense Opportunities for MPS Deployment, Says TMR

IT and Telecom |

The global managed print services (MPS) market is divided in Tier 1, Tier 2, and Tier 3, based on end-use penetration, service portfolio, and geographical presence. The players operating in Tier 1 and 2 mostly enjoy a string global footprint and are able to provide comprehensive MPS services to large enterprises and SMEs alike, finds Transparency Market Research (TMR) in a new study. 

Companies operating in Tier 3, such as Toshiba Corporation, Kyocera Corporation, and Konica Minolta, Inc., have been expanding their geographical presence by starting new facilities in accordance with regulatory standards of the concerned nation. In Tier 1, HP Ltd., Xerox Corporation, and Ricoh Company Ltd are a few of the prominent enterprises. In Tier 2, companies such as ARC Document Solutions, Inc., and Lexmark International Inc., have been successful in establishing strong presence.

According to TMR, the global MPS market is projected to exhibit a CAGR of 14.8% between 2016 and 2024. At this pace, the market, which stood at US$26.18 bn in 2015, is expected to reach US$94.97 bn by the end of 2024. By end use, the government and public sector accounted for the leading share nearly 15% in the market in 2015. Regionally, North America dominated the global MPS market. However, during the course of the forecast period the Asia Pacific MPS market is expected to report a higher CAGR of 16.1%.

Rising CSR Activities across Companies to Boost Growth

CSR activities have become integral to many organizations around the world as they seek complying with government regulations, thereby mitigating the adverse environmental impacts through their services. Unorganized printing activities across large enterprises have a significant effect on the optimized usage of paper. In order to reduce environmental impact of such unaccounted activities, enterprises are adopting managed print services. As the deployment of these services ensures optimal use of printing pater. The technology also helps enterprises discard redundant printers.

“Due to the string of benefits they provide, the managed print services help enterprises in reducing overall cost incurred on printing,” said a lead TMR analyst. This is a key factor encouraging the uptake of MPS across enterprises. Besides this, MPS also helps in reducing energy consumption in enterprises.

Lower Penetration in SMBs Acting as Major Restraint

On the downside, the lack of awareness among SMBs has limited the adoption of managed printed services only to large enterprises. Furthermore, smaller enterprises with less than 5 MPS can find it difficult to achieve higher ROI from the deployment of the service. This could hamper the market’s growth in the long run. To counter these bottlenecks, several organizations are moving towards digitization. While the development has encouraged organizations share and distribute valuable data via digital medium, it has been threatening to restrain the growth trajectory of the global management print services market.

Nonetheless, the players see lucrative opportunities as they aim capitalizing on the untapped potential in SMBs. While the penetration of MPS is currently low in the SMB sector, manufacturers are taking calculated initiatives to gain growth in the segment. This is expected to provide significant growth opportunities for the market in the near future.

This review is based on a TMR study, titled “Managed Print Services (MPS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”

The report segments the global managed print services market as:

Managed Print Services Market

By Channel

  • Printer/Copier Manufacturers
  • Channel Partner/Core MPS Providers

By Enterprise Size

  • SMEs
  • Large Enterprises

By Deployment

  • On-premise
  • Hybrid
  • Cloud-based

By End-use

  • BFSI
  • Telecom and IT
  • Government and Public
  • Health Care
  • Education
  • Legal
  • Construction
  • Manufacturing
  • Others

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

US Office Contact

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com

Copyright © Transparency Market Research, Inc. All Rights reserved