The global managed print services (MPS) market size was estimated at USD 26.72 billion in 2016. The market is anticipated to witness considerable growth owing to the stringent regulations to save paper wastage and the decreasing cost of operation. MPS helps in analyzing printing needs, reducing the number of local printers, replacing inefficient devices, automating the supply delivery, managing remote printing operations, and gaining predictability.
The complete document environment can be tracked with the help of managed print services. Managed print services have benefits such as reducing the usage of paper; reducing energy consumption; freeing up the IT resources, and customized solutions are available.
Multi-Function Peripherals (MFPs) and regular printers are the two devices on the network that regularly handle and store a certain amount of complex business content. Security is the major concern associated with this business content. There are various risks associated with unsecured multi-function products and printers. These printers have frequent access to the internet, email, enterprise content management systems, and cloud-based document repositories. To reduce these risk and security concerns, managed print services play a vital role.
MPS provides a low price and high performance, less energy consumption, reduced physical footprints, fewer consumables, less paper, more productivity, and lower maintenance costs. The total cost associated with document production is one-third to almost one-half less when paper, ink, energy drain, and service costs are considered. New technologies with a feature of automated ordering enable the printer to examine its needs and request a purchase order from the supplier before supplies run out. The two-sided print feature present in advanced printers saves trees and paper wastage. Also, they reduce the time spent constantly filling the paper tray.
The major challenge for the implementation of the managed print services is the technical issues faced which can hamper the printing operation. These issues hamper productivity and need to be rectified by a support team. In case of power failures, the system prints can fail. Also, many businesses are not aware of the managed print services. Doubt about the adeptness and value of managed printing services is curbing market growth.
The printer manufacturer segment accounted for the majority share of the market in 2016. North America region dominated the overall managed print services market for printer/copier manufacturers. The presence of printer/copier manufacturers, favorable government regulations, and a rising number of startups are driving the managed print services market in the region.
The market for system integrators is expected to grow at the highest CAGR of 7.9% from 2017 to 2025. System integrators are channel type that markets some printer/copier manufacturers and offers other solutions as a part of wider managed IT services. Independent software vendors are also an important part of the channel. They help in security management and secure printing from companies to the end-user.
The hybrid deployment mode is anticipated to grow at the highest CAGR of 7.1% over the forecast period. A hybrid deployment offers benefits of both cloud-based and on-premise deployment modes. In this deployment mode, some service is hosted locally i.e. on-premises while some solutions are hosted by cloud service providers.
The cloud-based deployment mode dominated the managed print services market in 2016 accounting for over 40% of the overall market. End users are benefitted from the cost-effectiveness of using managed print services. These benefits are changing the aspects of the traditional IT model. Cloud-based software is installed on the OEM’s server and is accessed through a Web browser. Some OEMs also provide hybrid deployment, in which cloud software is hosted on an end user’s private servers. Cloud software is priced on a monthly or annual subscription basis, with additional recurring fees for support, and training. For cloud-based systems, the organization continues to pay an additional overhead cost.
Large enterprises dominated the managed print services market. The large enterprises segment holds the major share and is expected to grow at a CAGR of 6.7% over the forecast period. They focus on managing the associated operations and practices. These practices are prone to attack by any threat, attack, malware, spam, and other exposures. Thus, it is anticipated to boost the demand for MPS in large enterprises.
Small and medium enterprises are expected to grow at the fastest rate over the forecast period. Small and medium enterprises are moving towards managing their services. These are gaining competitive attractiveness from various market entrants. They are also prone to security concerns. To avoid mishaps and malware attacks, small and medium enterprises are availing of the MPS.
The Banking, Financial Services, And Insurance (BFSI) held the largest share of the managed print services market in 2016 and was valued at USD 6,718.5 million. Managed print services are mainly growing in government, education, telecom & IT, retail & consumer goods applications. The banking and other financial sectors involve paperwork and other files. The privacy and security of these paper files need to be maintained. Thus, MPS helps to maintain the security and privacy of the document.
The retail & consumer goods, telecom IT, and government applications are also anticipated to grow over the forecast period. Favorable government regulations, rising startups in the retail & consumer goods industry, and increasing security concerns in the telecom & IT sector are the main factors projected to boost the managed print services market.
Asia Pacific market was valued at USD 4,011.8 million in 2016. The Asia Pacific region holds the largest share of the overall industry. The growth in the region is attributed to rising retail & consumer goods startups across countries such as China, India, and Japan. Australia and Singapore are the countries that have already adopted MPS owing to increasing awareness in education and healthcare applications.
North America holds the largest market share of the managed print services market. The healthcare and government industry in the U.S. has aggressively adopted managed print services. In addition, the strategic acquisitions and new programs launched to create awareness of managed print services are also expected to proliferate the demand over the next eight years. For instance, Global Imaging Systems (GIS), A Xerox Company, has acquired G-Five, Inc., a Carolinas-based solution provider of office equipment and print services in North and South Carolina in 2017.
The global managed print services market is highly competitive. However, there is intense competition among the existing market players. The key industry competitors include Xerox Corporation, HP, Canon, Ricoh, Lexmark, and others. There is a wide opportunity for system integrators and independent software vendors to enter the MPS market. The utilization of cloud-based deployment models and the adoption of managed print services by large enterprises has provided potential opportunities for companies such as Xerox Corporation and HP to gain a major share of the MPS market.
Strategic partnerships, agreements, and programs boost the managed print services market. For instance, in July 2017, Xerox introduced an MPS Print accreditation program recognizing a group of channel partners that demonstrate MPS expertise and revenue growth. In October 2016, the U.S. Department of Agriculture (USDA) awarded Xerox a 10-year, USD110 million contract for MPS across all USDA agencies.
The base year for estimation
Actual estimates/Historical data
2014 - 2016
2017 - 2025
Revenue in USD Million and CAGR from 2016 to 2025
North America, Europe, Asia Pacific, South America, Middle East & Africa
U.S., Canada, Mexico, U.K., Germany, France, Italy, China, India, Japan, Brazil
Revenue forecast, company share, competitive landscape, growth factors and trends
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This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global managed print services market report on the basis of channel, deployment, organization, application, and region:
Channel Outlook (Revenue, USD Million, 2014 - 2025)
Independent Software Vendors
Deployment Outlook (Revenue, USD Million, 2014 - 2025)
Organization Outlook (Revenue, USD Million, 2014 - 2025)
Small and Medium Enterprises
Application Outlook (Revenue, USD Million, 2014 - 2025)
Retail & Consumer goods
Telecom & IT
Regional Outlook (Revenue, USD Million, 2014 - 2025)
Rest of Europe
Rest of APAC
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