Managed Print Services (MPS) Market Size, Growth & Trend Analysis Report, By Channel (Printers/Copiers Manufacturers, System Integrators, Independent Software Vendors), By Deployment, By Enterprise, By End Use, By Region, And Segment Forecasts, 2024 - 2030

Report Overview

The global Managed Print Services (MPS)market was valued at USD 46.73 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 10.1% from 2024 to 2030. Initiatives to reduce paper waste and promote environmental sustainability are significant drivers of the MPS market. Companies are adopting MPS to control wastage and contribute to a more sustainable workplace. MPS enables businesses to improve productivity by providing visibility into document workflows, streamlining printing processes, and reducing the time spent managing print-related issues.

Companies substantially reduce printing expenses by outsourcing print management to a third-party service provider. MPS providers optimize the print environment, reduce waste, and implement more efficient printing practices, lowering costs. Additionally, they handle maintenance, repairs, and supply management, freeing up internal IT resources and allowing employees to focus on core business activities. MPS providers offer service agreements with fixed monthly fees, providing transparent and predictable cost structures. This transparency enables organizations to manage their budgets better and avoid unexpected expenses. Accurately forecasting print-related costs is particularly beneficial for financial planning and resource allocation. This cost-effective approach is rising in businesses pursuing streamline operations and enhance productivity, driving its demand in the market.

With employees increasingly working from home or remotely, there is a growing need for flexible and accessible printing solutions. MPS providers offer mobile printing capabilities that allow employees to print from any location using their smartphones, tablets, or laptops. This flexibility enhances productivity and ensures document management across different work environments. The ability to support a remote and mobile workforce is a driving factor for organizations to adapt to the growing workplace landscape. To cater to this demand, companies are launching new product lines. For instance, in August 2023, Fujifilm Business Innovation introduced MPS Guardia secure managed print service in Australia. This service offers layered endpoint security and is available in Life Essentials and Enterprise Plus, catering to organizations of different sizes. The service provides features such as print job encryption, customizable user authentication, and security settings to ensure compliance with security policies and relevant standards.

Channel Insights

The printers/copiers manufacturers segment accounted for the largest market revenue share of 53.3% in 2023. Enhanced security features are essential for printer and copier manufacturers in the MPS market. The risks associated with data breaches and cyber threats are driving demand for secure printing solutions. Manufacturers incorporate advanced security measures into their devices, such as secure print release, user authentication, encryption, and secure boot technology. These features aid in protecting sensitive information, ensuring compliance with data protection regulations, and mitigating the risk of unauthorized access. By prioritizing security, manufacturers address the concerns of businesses and position their products as reliable and secure options in the market.

The independent software vendors segment is expected to witness the fastest CAGR over the forecast period. Businesses have different print management needs based on size, industry, and operational processes. Independent software vendors offer highly customizable solutions that cater to these specific requirements, providing customized print management workflows, user interfaces, and reporting capabilities. The ability to customize and adapt solutions to fit the individual needs of organizations is a significant advantage driver for independent software vendors, enabling them to attract a diverse customer base and enhance client satisfaction.

Deployment Insights

The on-premises segment accounted for the largest market revenue share in 2023. Organizations with data protection requirements, such as those in healthcare, finance, and legal sectors, prefer on-premises solutions due to control over sensitive information. By keeping print management infrastructure within their data centers, companies implement security measures, such as firewalls, encryption, and access controls, to protect against data breaches and unauthorized access. These enhanced data security and privacy concerns drive the demand for on-premises deployment.

The cloud-based segment is expected to witness the fastest CAGR over the forecast period. One of the primary drivers for the cloud-based deployment segment in the Managed Print Services (MPS) market is cost efficiency and flexibility. Cloud-based MPS solutions eliminate the need for significant investments in hardware and infrastructure. Cloud-based deployment only allows pay when the service is in use. Additionally, Cloud solutions enable employees to access print services from any location using various devices such as laptops, tablets, and smartphones. This remote accessibility is essential for businesses with distributed workforces or multiple office locations. For instance, in February 2024, Konica Minolta Business Solutions U.S.A., Inc. introduced Dispatcher Paragon Cloud V2.0, an expansion of its cloud-enabled MFP (multifunction printer) portfolio. Dispatcher Paragon Cloud V2.0 features an intuitive interface with single sign-on (SSO). It enables users to process, scan, and route documents to popular cloud apps such as Dropbox, Microsoft OneDrive, and SharePoint Online.

Enterprise Size Insights

The large enterprises segment accounted for the largest market revenue share in 2023. Large organizations operate across multiple locations, departments, and business units, leading to fragmented and inefficient print management. MPS solutions offer centralized control, allowing organizations to standardize print policies, monitor usage, and enforce compliance across all locations. This centralized approach enables better oversight, improved resource allocation, and consistent print practices. Large enterprises enhance operational control and consistency with a unified print management strategy.

The SMEs segment is anticipated to register the fastest CAGR over the forecast period. MPS providers manage the print infrastructure, including monitoring, maintenance, and supply replenishment. The streamlined management process ensures that print services are always available and functioning optimally, enhancing overall operational efficiency. Additionally, MPS solutions offer proactive monitoring and support, reducing downtime and minimizing the time employees spend troubleshooting printer problems. Automated supply management ensures printers are always stocked with necessary consumables, preventing workflow interruptions. These factors, coupled together, are driving the demand for MPS in SMEs.

End Use Insights

The BFSI sector accounted for the largest revenue share in 2023. The BFSI sector is regulated and handles sensitive and confidential information. MPS providers offer advanced security features such as secure print release, user authentication, and data encryption, which ensure documents are protected from unauthorized access and breaches. Additionally, MPS solutions provide comprehensive document management capabilities, including digital archiving, secure document storage, and efficient retrieval systems. By digitizing and organizing documents, MPS aids BFSI organizations in improving their workflow efficiency, reducing physical storage needs, and enhancing access to critical information. 

The retail & consumer goods segment is expected to register the fastest CAGR over the forecast period. MPS streamlines print operations by reducing unnecessary print volumes, optimizing device usage, and automating supply recovery. These measures lead to significant cost savings on consumables such as paper, toner, and other maintenance expenses. MPS offers centralized control over print expenditures for companies with extensive distribution networks and multiple locations, allowing for better budget management and financial predictability.

Regional Insights & Trends

The North America MPS market held the largest share in 2023. MPS providers in this region leverage advanced printing solutions and cloud computing to offer more efficient, secure, and scalable print management solutions. Integrating IoT-enabled printers with real-time monitoring and proactive maintenance reduces downtime and enhances operational efficiency. Additionally, adopting cloud-based MPS solutions facilitates remote management and improves accessibility, making it easier for organizations to manage their print environments across multiple locations.

U.S. Managed Print Services Market Trends

U.S. dominated the market and accounted for 77.2% of the North America market in 2023. MPS providers in the U.S. bring extensive knowledge and experience in managing complex print environments, offering businesses expert guidance and support. These providers offer various services, including print fleet management, document management, workflow optimization, and security solutions. The availability of dedicated support services minimizes downtime and maintains business continuity.

Asia Pacific Managed Print Services Market Trends

The Asia Pacific MPS market is expected to witness the fastest CAGR over the forecast period. The Asia Pacific region is experiencing rapid economic growth and industrialization, driving the demand for the MPS market. As businesses expand and industrial activities increase, there is a higher demand for efficient and cost-effective printing solutions. MPS allows companies to streamline their print operations, reduce costs, and improve productivity, which is essential in fast-growing economies where businesses pursue maintaining a competitive edge. The increasing number of small and medium-sized enterprises (SMEs) in the region also contributes to the demand for MPS.

The India MPS market is expected to witness significant growth over the forecast period. MPS providers offer solutions enabling secure and efficient printing from remote locations, ensuring employees access print services regardless of location. Features such as cloud printing, mobile printing, and secure print release facilitate seamless printing for remote and hybrid workforces. By adapting to these new work models, MPS solutions aid Indian businesses in maintaining productivity and flexibility in a changing work environment.

Europe Managed Print Services Market Trends

The Europe MPS market is expected to witness significant growth over the forecast period. MPS providers offer solutions that optimize printing environments, consolidate devices, and automate workflows, leading to significant cost savings and enhanced productivity. Additionally, there is a growing emphasis on digital transformation, with European companies integrating MPS to streamline document management, enhance security, and support flexible work arrangements.

MPS providers offer personalized services catering to expanding enterprise diverse requirements, including centralized print management, scalable infrastructure, and flexible deployment options. For instance, in August 2023, Brother UK launched three Managed Print Services (MPS) solutions to enhance reseller support. The launch includes MPS Essential, MPS Professional, and MPS Enterprise, catering to the needs of different businesses, from small organizations to complex multi-site corporations.

Key Company & Market Share

Some key companies in the Managed Print Services (MPS) Market include Xerox Corporation, HP Development Company, L.P., Lexmark International, Inc., and SAMSUNG ELECTRONICS CO., LTD.

• Xerox Corporation offers products and services across various sectors. Its portfolio includes digital printing systems, multifunction printers (MFPs), production printing systems, and software solutions personalized for small businesses and large enterprises.

Recent Developments

• In September 2022, VLCM announce the acquisition of the organization’s Managed Print Services (MPS) business by Fisher’s Technology. VLCM would retain other business areas including data center, cybersecurity, virtualization, BU/DR, hybrid cloud, UC, Microsoft, networking, audio/visual & professional services. 

Managed Print Services Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the managed print services market report based on channel, deployment, enterprise size, end use, and region.

• Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Printers/Copiers Manufacturers

  • System Integrators

  • Independent Software Vendors

• Deployment Outlook (Revenue, USD Million, 2018 - 2030)

  • On- Premise

  • Cloud-Based

• Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

  • SMEs

  • Large Enterprises

• End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • BFSI

  • Education

  • Government

  • Healthcare

  • Industrial Manufacturing

  • Retail & Consumer Goods

  • Telecom & IT

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa (MEA)

    • South Arabia

    • South Africa

    • UAE