Managed Print Services Industry
The global managed print services market is segmented based on type, deployment mode, organization size, industry verticals, and regions.
PORTLAND , PORTLAND, OR, UNITED STATE, July 20, 2022 /EINPresswire.com/ — Enhanced information security, reduced operational cost, initiatives to lower wastage of plastic at workplaces, and increase in adoption of big data solutions facilitate the managed print services industry growth.
However, recurring costs and strategic agreements and partnerships restrain the market growth. On the other hand, surge in print security spending and rise in adoption of cloud MPS create new opportunities in the market.
According to a recent report published by Allied Market Research, the global managed print services market accounted for $27.5 billion in 2017 and is expected to reach $59.7 billion by 2025, growing at a CAGR of 10.3% during the forecast period, 2018-2025.
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Based on type, the device management segment held the major market share in 2017, contributing for nearly more than one-third of the total market share and is expected to continue its dominating position throughout during the forecast period.
This is due to rise in adoption of these solutions for enhancing the network performance for printing devices, optimizing the efficiency, and control of costs. However, document imaging market is expected to grow at the largest CAGR of 13.4% from 2018 to 2025, owing to increase in demand for big data management and analytics in organizations.
Based on deployment mode, the hybrid cloud segment contributed nearly three-fifths of the total share in 2017 and is expected to maintain its lead position throughout the forecast period.
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This segment is expected to grow at a CAGR of 11.5% from 2018 to 2025. It is a lucrative segment, owing to demand for cloud-based MPS to lower the cost of printing and shift towards novel solutions to support mobility, improve security, and make efficient business workflows. The research also analyzes the on-premise deployment model.
North America contributed more than two-fifth of the total share in 2017 and is projected to maintain its dominant share throughout the forecast period. This is due to the presence of leading manufacturers, supportive government regulations, and increase in number of startups in this region.
However, Asia-Pacific is expected to register the highest CAGR of 14.0% from 2018 to 2025, owing to surge in retail & consumer goods startups in nations such as China, India, and Japan.
The key players analyzed in the report include Xerox, HP Inc., Toshiba, Lexmark International, Inc., Ricoh Company, Ltd., Canon Inc., Konica Minolta, Inc., Sharp Electronics, Kyocera Document Solutions, and ARC Document Solutions. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
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Key Benefits for Managed Print Services Market:
• This study includes the global managed print services market analysis, managed print services market trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and managed print services market opportunity.
• The managed print services market size is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the industry.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the global managed print services industry.
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1. Managed Cloud as a Service Market
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