The latest report by IMARC Group, titled “Managed Print Services Market Report by Type (Print Management, Device Management, Discovery and Design, Document Imaging), Deployment Mode (On-premises, Cloud-based), Organization Size (Large Enterprises, Medium Enterprises, Small Enterprises), Industry Vertical (BFSI, Government, Healthcare and Education, Manufacturing, Retail and Consumer Goods, IT and Telecom, and Others), and Region 2024-2032“, The global managed print services market size reached US$ 46.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 89.5 Billion by 2032, exhibiting a growth rate (CAGR) of 7.4% during 2024-2032.

Factors Affecting the Growth of the Managed Print Services Industry:

• Increasing Focus on Cost Reduction and Efficiency:

Businesses are constantly seeking ways to optimize their operations and reduce overhead costs, which significantly drives the growth of the managed print services (MPS) industry. MPS providers offer comprehensive solutions that include the management of print devices and supplies, maintenance, and support services, which help companies streamline their printing operations, minimize waste, and achieve greater efficiencies. By outsourcing print management to MPS providers, businesses can focus on their core activities, leading to improved productivity and cost savings. This focus on operational efficiency and cost reduction is a key factor propelling the demand for managed print services.

• Environmental Sustainability Initiatives:

Environmental sustainability has become a priority for organizations worldwide, influencing the adoption of MPS. Managed print services align with green initiatives by optimizing print environments to reduce paper waste and energy consumption. MPS providers conduct thorough assessments of a company’s print infrastructure to implement eco-friendly practices, such as duplex printing and digital workflows, which significantly minimize the environmental footprint. This shift toward sustainable operations encourages businesses to embrace MPS, driving industry growth as companies look to contribute positively to environmental conservation.

• Advancements in Digital Technology:

The MPS industry is benefiting from rapid advancements in digital technology, including cloud computing, big data analytics, and IoT (Internet of Things). These technologies enhance the capabilities of managed print services, allowing for better device management, predictive maintenance, and detailed usage analytics. MPS solutions can now offer more personalized and efficient services, adapt to the changing needs of businesses, and provide insights into print usage patterns and optimization opportunities. The integration of these digital technologies into MPS solutions improves operational efficiency and provides a competitive edge, driving the growth of the industry.

Competitive Landscape with Key Player:

• ARC Document Solutions Inc.
• Brother Industries Ltd.
• Canon Inc.
• HP Inc.
• Konica Minolta Inc.
• Lexmark International Inc.
• Ricoh Company Ltd.
• Sharp Corporation
• Toshiba Corporation
• WeP Solutions Ltd 
• Xerox Corporation.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/managed-print-services-market/requestsample

Report Segmentation:

The report has segmented the market into the following categories:

By Type:

• Print Management
• Device Management
• Discovery and Design
• Document Imaging

Device management dominates the market as it is essential for optimizing the efficiency and performance of printing devices, ensuring cost savings and reliability for businesses.

By Deployment Mode:

• On-premises
• Cloud-based

Cloud-based deployment accounts for the largest market share as it offers scalability, flexibility, and remote management capabilities, appealing to organizations looking to streamline their print operations without significant infrastructure investment.

By End User:

• Large Enterprises
• Medium Enterprises
• Small Enterprises

Large enterprises represent the largest segment due to their higher volume of print needs and greater capacity for adopting comprehensive MPS solutions that can manage complex print environments across multiple locations.

By Industry Vertical:

• BFSI
• Government
• Healthcare and Education
• Manufacturing
• Retail and Consumer Goods
• IT and Telecom
• Others

BFSI sector holds the largest share due to its stringent document security requirements and the need for efficient document management systems to handle large volumes of sensitive financial data.

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America's dominance in the managed print services market is attributed to substantial investment in research and development (R&D), leading to advanced technological developments in this field.

Global Managed Print Services Market Trends:

The global managed print services (MPS) market is experiencing robust growth, propelled by businesses' escalating demand for cost efficiency, productivity enhancements, and sustainable practices. Companies across various sectors are adopting MPS to streamline their print operations, reduce waste, and lower their environmental impact. This trend is further bolstered by advancements in digital technologies, such as cloud computing and IoT, which enhance MPS offerings through improved device management and predictive analytics. As organizations continue to focus on core competencies, the reliance on MPS for optimized print solutions is increasing, making MPS an integral component of modern business strategies aimed at achieving operational excellence and sustainability goals.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact Us:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163