What is the global market size of Managed Print Services (MPS) Market?

Global Managed Print Services (MPS) Market size was valued at USD 44.40 billion in 2022 and is poised to grow from USD 49.51 billion in 2023 to USD 118.27 billion by 2031, at a CAGR of 11.50% during the forecast period (2024-2031).

Managed Print Services (MPS) market Size, Share, Growth Analysis, By Deployment Mode(On-Premises, Cloud-Based), By Channel type(Printer/Copier Manufacturers, System Integrators/Resellers), By Industry vertical(Banking, Financial Services, and Insurance (BFSI)), By Region - Industry Forecast 2025-2032

Report ID: SQMIG45B2096 | Region: Global | Published Date: April, 2024
Pages: 197 | Tables: 88 | Figures: 76

Managed Print Services (MPS) market Dynamics

Drivers

Technological Advancements

The continuous evolution of printing technology, together with the mixing of IoT, cloud computing, and Artificial intelligence, is improving the abilities of MPS offerings. These technological innovations enable greater green and price-powerful print management, document safety, and workflow optimization, using the adoption of MPS solutions throughout numerous industries.

Restraints

Initial Implementation Costs

A large restraint inside the international Managed Print Services (MPS) market is the preliminary implementation charges associated with adopting MPS solutions. While MPS can lead to long-term value savings, the premature investment required for hardware, software, and services may be significant for some companies. This fee barrier can deter smaller agencies from embracing MPS and might require cautious financial planning and analysis to justify the investment. However, it's critical to note that the long-time period advantages frequently outweigh these initial prices.

Managed Print Services (MPS) market Report Snapshots

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Managed Print Services (MPS) market size was valued at USD 49.51 Billion in 2023 and is poised to grow from USD 55.2 Billion in 2024 to USD 131.87 Billion by 2032, growing at a CAGR of 11.50% during the forecast period (2025-2032).

The aggressive panorama within the international managed print services (MPS) market is characterised by excessive competition amongst numerous nicely-set up and emerging gamers. Companies working on this area are continually striving to distinguish themselves by offering a big range of MPS answers and associated offerings. 'Xerox Corporation (US)', 'Ricoh Company, Ltd. (Japan)', 'HP Development Company, L.P (US)', 'Konica Minolta, Inc. (Japan)', 'Canon, Inc. (Japan)', 'Lexmark International, Inc. (US)', 'Kyocera Corporation (Japan)', 'Sharp Corporation (Japan)', 'Toshiba Corporation (Japan)', 'Samsung Electronics Co., Ltd. (South Korea)', 'Brother Industries, Ltd. (Japan)', 'Epson America, Inc. (US)', 'Oki Electric Industry Co., Ltd. (Japan)', 'Fujitsu Limited (Japan)', 'Riso Kagaku Corporation (Japan)', 'Lenovo Group Limited (China)', 'Dell Technologies, Inc. (US)', 'Panasonic Corporation (Japan)', 'Pitney Bowes Inc. (US)', 'Lexmark International Ltd. (UK)'

The continuous evolution of printing technology, together with the mixing of IoT, cloud computing, and Artificial intelligence, is improving the abilities of MPS offerings. These technological innovations enable greater green and price-powerful print management, document safety, and workflow optimization, using the adoption of MPS solutions throughout numerous industries.

Managed Print Services (MPS) Embracing Artificial Intelligence (AI): MPS vendors are leveraging AI to enhance print surroundings performance, predictive maintenance, and security. AI-driven analytics and automation are helping organizations benefit from deeper insights into their print operations, optimize workflows, reduce downtime, and proactively deal with printing troubles. This fashion is pushed by the growing demand for wise, data-pushed answers that not only manipulate printing wishes but also make contributions to broader digital transformation tasks within agencies.

North America presently dominates the worldwide controlled print services (MPS) market because of its superior technological infrastructure and the full-size adoption of controlled print offerings among companies. The vicinity's mature marketplace, coupled with a excessive awareness of cost-performance and sustainability blessings, has contributed to its leadership within the MPS area.

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Managed Print Services (MPS) market Dynamics

Managed Print Services (MPS) market Report Snapshots

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