Managed Print Services Market Size Expanding to Reach USD 78.4 Billion With the CAGR of 9.4% by 2029

The global managed print services market is divided geographically into five regions: North America (Europe, Asia Pacific), Latin America (Middle East and Africa) and Latin America (Asia Pacific). North America holds the largest market share in global managed printing services market. This is due in part to the existence of copier and printer manufacturers, favorable governmental policies and an increase number of startups. The US has also used managed print services in both the government and healthcare sectors, which helps to stimulate the market.

New Delhi, Feb. 24, 2023 (GLOBE NEWSWIRE) — The rapid and exponential growth in global managed print services market is due to digitization’s rapid and exponential growth, as well as lower operating costs and the flexibility to meet individual customer requirements.

BlueWeave Consulting is a market research and strategic consulting firm that has estimated the global managed printing services market at USD 42.24 Billion in 2022. BlueWeave projects that the global managed print services market will grow between 2023-2029. Market for managed print services size to grow at a CAGR of 9.4% reaching a value of USD 78.38 billion by 2029. The escalating demand for cloud computing and software-as-a-service is driving the managed print market. Market growth is aided by rapid and exponential growth of digitization and lower operating costs. Customers also have the flexibility to adapt to their individual needs. Rapid adoption of IoT solutions and big data is one of key factors in the market’s growth.

Global Managed Print Services Market – Overview

Managed print service programs are offered by print service providers. They manage all commercial printing equipment including scanners and fax machines, printers, copiers, and others. By changing the devices regularly, businesses can reduce costs, make less wastepaper, increase productivity, and cut down on paper. Managed print services are gaining popularity due to their widespread use in many industries. The MPS market has seen significant technological advancements, including the internet of things and big data. One of the biggest challenges facing managed print services is the development of a more computerized paper process.

Request a Sample https://www.blueweaveconsulting.com/report/managed-print-services-market/report-sample

Opportunity: Increased efforts to reduce workplace paper waste

For the benefit and cost savings of their customers, organizations are increasingly adopting green initiatives. Many companies have started to look for ways to reduce paper use and waste in the workplace to achieve their sustainability goals. This is a straightforward, easy-to-implement, and cost-effective option. Organizations can make remarkable long-term efficiency gains with managed print services. It allows businesses of all sizes to eliminate print servers and improve their print management.

Challenge: Security concerns in cloud-based services

The cloud-based deployment model can be used by industries but it poses security concerns for organizations. This could hinder market growth. Cloud-based deployment makes it easier for hackers to target IoT devices. This increases the likelihood of printer vulnerabilities becoming a common attack vector. Because of its complexity, protecting the print environment can be difficult, especially when there are mixed fleets that compromise old and new devices.

Please see the Press Release https://www.blueweaveconsulting.com/press-release/global-managed-print-services-market-size-expanding-to-reach-usd-78-4-billion-by-2029

COVID-19’s impact on Global Managed Print Services Market

The COVID-19 Pandemic had a devastating impact on many industries, including managed printer services. In the aftermath of the pandemic many businesses tried to recover their losses through reducing running and operational expenses. Businesses quickly adopted print management software to measure printer usage and reduce department costs. Businesses are looking for ways to consolidate and optimize their printer fleets. The need to control costs in a post-COVID-19 world is expected to drive significant growth for global managed print services.

Global Managed Print Services Market – By Channel

The global managed print market is split into two segments: printer/copier manufacturer and channel partner/core MSP providers. It is expected that copier and printer manufacturers will have a larger share of the market due to increased use of cloud computing and analytics in printing.

Competitive Landscape

The global managed print services market is fragmented with many players. Hewlett-Packard, Lexmark Corporation, Xerox Corporation, Toshiba, Kyocera, Document Solutions, Konica Minolta, Inc., ARC Document Solutions, Inc., Ricoh Company Ltd., Canon, Inc., Print Audit, Sharp Corporation, Honeywell International Inc., Samsung Electronics Co., Ltd. are the key players in the global managed printing services market. They use a variety of marketing strategies to increase customer reach and compete in the global market.

Don’t miss the business opportunity of the Global Managed Print Services Market. Get valuable insights from our analysts and help your business grow.

This report provides detailed analysis of the Global Managed Print Services Market, including information on growth potential and upcoming trends. The report also highlights the factors that will drive market size forecasts. This report will provide information on the latest technology trends in Global Managed Print Services and industry insights that will help decision-makers make strategic decisions. The report analyzes the market’s growth drivers, challenges and competitive dynamics.

Recent Developments

Scope of the Report

By Deployment Mode

By Enterprise Size

Channel

Vertical by Industry

• Banking, Financial Services, and Insurance

• Government

• Healthcare

• Manufacturing

• Retail

• Telecom & IT

• Transportation & Logistics

• Other

By Region

You will find below some related topics:

• Supply Chain Big Data Analytics Market – Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029

• Europe Smart Building Market – Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029

• UAE Software as a Service (SaaS) Market – Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029

• UAE Data Center Power Market – Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029

• Workspace as a Service Market – Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029

About Us

BlueWeave Consulting provides all-inclusive Market Intelligence (MI) Solutions to businesses regarding various products and services online & offline. Our market research reports include both qualitative and quantitative analysis to help you improve your business solutions. BlueWeave is a trusted partner that builds long-lasting relationships and delivers quality inputs. We offer digital MI solutions that are innovative and can help you make your business ventures a success.

Contact us

BlueWeave Consulting & Research Pvt. Ltd

+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662

[email protected]
https://www.blueweaveconsulting.com/
https://www.linkedin.com/company/blueweaveconsulting/