Market Scenario:
Managed print services (MPS) is a trusted mode that helps businesses to obtain the skills as well as expertise required to manage the cost, complexity as well as risk of an unmanaged print infrastructure. Large number of MPS providers is moving MPS in the wider territory of workflow or process automation or content management. However, it is the small group of organizations that have adopted these comprehensive services within their MPS engagements. But, these organizations are very positive about their MPS engagements outcome. Majority of clients are content with their MPS relationships, however, large number of them continue to express their desire for proactive and innovative business partnership. As the market approaches maturity, the chance to drive greater business value via MPS, significantly in the context of digital transformation, is growing. This customer-centric as well as strategic approach to MPS needs innovation, insight along with industry expertise – sectors wherein MPS providers showcase mixed performance levels.
Market Segments:
The global managed print services market can be classified based on channel, enterprise size, deployment model, end-user and region.
• On the basis of channel, the global market is classified into channel partner/ core MPS providers and printer/copier manufacturers. Depending upon enterprise size, it is segmented small enterprise, medium enterprise, and large enterprise.
• As per deployment model, the global managed print services market is divided into hybrid, on-premise, and cloud-based.
• Based on end-user, the global market is divided into BFSI, manufacturing, telecom & IT, construction, education, healthcare, legal, construction, public & government, and others.
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Key Players:
The major companies that provide managed print services include:
• Xerox Corporation
• HP Development Company
• L.P.
• Ricoh Company, Ltd.
• Lexmark International, Inc.
Key Points:
The global managed print services market is expected to face some hurdles in the forecast period. Factors such as doubt about the efficiency as well as effectiveness of managed print services and long-term recurring expenditure, requirement of higher bandwidth for the management of their data processes and avoid latency issues are expected to curtail the growth of this market rate of adoption is being jeopardized by the possibility of lack of efficiency in the cloud model of managed print services. Also, the operating expenses incurred in the managed print services outweigh the one-time investment cost of in-house IT infrastructure, thereby acting as a weakness to MPS adoption.
Regional Analysis
Based on regions, the global managed print services market is divided into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America. The North American region is anticipated to command the maximum market share and would lead the managed print services market during the forecast period. The presence of numerous startups in the North American market and favorable compliance rate as well as rigid government regulations for the business environment have led to high growth rate and high demand for managed print services. Owing to the presence of promising government regulations, European companies are investing in the North American market, thereby propelling the growth of managed print services market in the region.
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