The increasing demand for advanced printers and technological advancements drive Managed Print Services market growth. Some of the key companies listed in the report are Kyocera Corporation (Japan), HP Development Company, L.P. (U.S.), Konica Minolta, Inc. (Japan), Wipro LTD (India), Lexmark International Corporation (U.S.), Konica Minolta (U.K), and Sharp Corporation (Japan),
Dallas, Texas, Sept. 16, 2022 (GLOBE NEWSWIRE) -- The global managed print services market will achieve an approximated value of USD 91.45 Billion with an estimated CAGR of 9.62% through the forecast period 2022-2031
The global managed print services market is driven by the ability to prevent internal data loss and safeguard printers from external cyber-attacks. The print management service helps to minimize printing costs and implement effective monitoring ability. Businesses get relieved from the burden of monitoring printer health since the managed printer services vendor takes responsibility for printer maintenance. Managed printer services help to increase business efficiency and stabilize the ratio of need and availability of printers.
Managed print services help to decrease printer downtime and minimize manual labour by dispatching low toner alerts. Businesses can reduce the time involved in sending meter reading reports which are automatically handled by the managed services. Managed print services help to streamline the workflow and speed-up business processes through efficient analysis.
Managed print services can be classified into integrated software vendors, system integrators and printer manufacturers concerning types of vendors. The deployment classification includes on-premises, hybrid and cloud-based models. Cloud-based print management services allow remote access to files and documents irrespective of one’s location.
Large-scale enterprises that deal with higher volumes of data immensely benefit from the use of managed print services by reducing queue time. Managed print services provide quick solutions to the technical issue occurring due to regular high print tasks. Managed print services provide precise data analysis to help businesses optimize their workflow and stabilize demand and cost. The implementation of cloud technology with managed print service maximizes overall business efficiency which significantly boosts the global managed print services market.
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Global Managed Print Services Market Scope
| Metrics | Details |
| Study Period | 2019-2031 |
| Market Size in 2031 | USD 91.45 Billion |
| Segment Covered | on-premise, cloud-based, hybrid |
| by Deployment Covered | A2P SMS, CPaaS (Voice), etc |
| Channel Covered | printer/copier manufacturers, system integrators/resellers, independent software vendors |
| Regions Covered | North America, Europe, Asia Pacific, Middle East, and Africa and South America |
| Key Players Profiled | Aptara Inc., Articulate Worldwide, LLC, CERTPOINT, Citrix Systems, Inc., D2L Corporation, Cisco Systems, Inc., Microsoft Corporation, Adobe, Oracle Corporation, and SAP SE |
The global market has achieved greater heights owing to recent developments and innovations. HP announced the launch of Managed Print Flex in September 2021 which will enable businesses to reduce costs by improving management and enriching business productivity. Fisher Technology acquired VLCM on September 2022 to increase demand for managed print services. A channel program was launched by Xerox in September 2018 to expand its print management services and solutions.