September 16, 2022 02:16 ET | Source: Adroit Market Research Adroit Market Research
Dallas, Texas, Sept. 16, 2022 (GLOBE NEWSWIRE) -- The global managed print services market will achieve an approximated value of USD 91.45 Billion with an estimated CAGR of 9.62% through the forecast period 2022-2031
The global managed print services market is driven by the ability to prevent internal data loss and safeguard printers from external cyber-attacks. The print management service helps to minimize printing costs and implement effective monitoring ability. Businesses get relieved from the burden of monitoring printer health since the managed printer services vendor takes responsibility for printer maintenance. Managed printer services help to increase business efficiency and stabilize the ratio of need and availability of printers.
Managed print services help to decrease printer downtime and minimize manual labour by dispatching low toner alerts. Businesses can reduce the time involved in sending meter reading reports which are automatically handled by the managed services. Managed print services help to streamline the workflow and speed-up business processes through efficient analysis.
Managed print services can be classified into integrated software vendors, system integrators and printer manufacturers concerning types of vendors. The deployment classification includes on-premises, hybrid and cloud-based models. Cloud-based print management services allow remote access to files and documents irrespective of one’s location.
Large-scale enterprises that deal with higher volumes of data immensely benefit from the use of managed print services by reducing queue time. Managed print services provide quick solutions to the technical issue occurring due to regular high print tasks. Managed print services provide precise data analysis to help businesses optimize their workflow and stabilize demand and cost. The implementation of cloud technology with managed print service maximizes overall business efficiency which significantly boosts the global managed print services market.
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Global Managed Print Services Market Scope
The global market has achieved greater heights owing to recent developments and innovations. HP announced the launch of Managed Print Flex in September 2021 which will enable businesses to reduce costs by improving management and enriching business productivity. Fisher Technology acquired VLCM on September 2022 to increase demand for managed print services. A channel program was launched by Xerox in September 2018 to expand its print management services and solutions.
Midwich and Xerox collaborated in January 2018 to provide enhanced cloud-based MPS solutions to medium and large-scale businesses. There has been an identifiable growth in the global managed print services due to the latest developments and mergers across the globe.
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A significant proportion of the global market will be captured by North America during the forecasted period. The rising number of startups and the presence of outstanding printer manufacturers will drive the global market growth in this region. Furthermore, the utilization of print management services in the IT and healthcare industry will immensely benefit the global market growth. The highly developed economy and constant technological advancement serve as crucial factors for the growth of managed print services market.
The presence of top market players will serve as a crucial factor in the expanding demand for print management services in this region. Increased focus on automation processes to reduce manual labour will maximize the demand for outsourced print management services. Extensive research and development to improve and enhance cloud services will boost the regional market demand.
Important Points from Table of Contents:
1. Introduction 2. Research Methodology 3. Market Outlook 4. Managed Print Services Market by Deployment, 2018-2028 (USD Billion) 5. Managed Print Services by Channel, 2018-2028 (USD Billion) 6. Managed Print Services by Application, 2018-2028 (USD Billion) 7. Managed Print Services by Region 2018-2028 (USD Billion) 8. Competitive Landscape 9. Company Profiles 9.1.1. Konica Minolta 9.1.2. Products Portfolio 9.1.3. Recent Initiatives 9.1.4. Company Financials 9.2. ARC Document Solutions 9.3. Kyocera Corporation 9.4. HP Development Company 9.5. Sharp Corporation 9.6. Toshiba Corporation 9.7. Canon UK Limited 9.8. Acrodex 9.9. Ricoh Company 9.10. Xerox Corporation 9.11. Seiko Epson Corporation 10. Appendix
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