The global managed print services market is expected to reach $49.7 billion (€40.4 billion) by 2025, according to a new report by Grand View Research, Inc.
Managed print services provide accurate monitoring of print resources through clearly defined mechanism and analysis. MPS providers emphasise modernisation and continuous improvement in their offerings but few communicate the business value of MPS. Enhancing the use of analytics and cloud computing will boost the market over the forecast period.
Cloud-based deployment mode is expected to hold the largest share of managed print services market over the forecast period. High cost effectiveness with the deployment of managed print services are changing the aspects of conventional IT model.
Cloud-based deployment holds the maximum market share as it offers businesses to remotely access their documents and data on the cloud while hybrid deployment mode is expected to be the fastest growing mode of deployment over the next few years.
Large enterprises segment is anticipated to dominate the managed print services market over the forecast period. They are mainly prone to malware, threats, spams and others security concerns.
To avoid these, they are focused on managing their operations and processes. Thus, dominating the managed print services market in the forecast period.
Further key findings from the report suggest:
• The global managed print services market accounted for $26.7 billion (€21.7 billion) in 2016 and is expected to grow at a CAGR of 6.9 percent from 2017 to 2025
• Large enterprises segment emerged as the largest segment in 2016 and is estimated to generate revenue over $34.4 billion (€27.9 billion) by 2025
• The market hybrid deployment mode is anticipated to witness the highest growth of a CAGR of 7.1 percent over the forecast period
• The North America market hold the largest share in the managed print services market in 2016. The growing start-ups, heavy demand for managed print services, and favourable government regulations drive the North America managed print services market.
• Key players include Xerox Corporation, HP, Lexmark, Canon, and Ricoh are accounting for the majority share of the overall market in 2016
For the full report click here.
