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Managed Print Services Market by Deployment and Geography - Forecast and Analysis 2021-2025

  • Published: Mar 2021
  • Pages: 131
  • SKU: IRTNTR41643
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The managed print services market share is expected to increase by USD 6.28 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5%.

This managed print services market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers managed print services market segmentations by deployment (cloud-based, on-premise, and hybrid) and geography (North America, Europe, APAC, South America, and MEA). The managed print services market report also offers information on several market vendors, including ARC Document Solutions Inc., Canon Inc., Exela Technologies Inc., HP Inc., KYOCERA Corp., Lexmark International Inc., Ricoh Co. Ltd., Sharp Corp., Toshiba Corp., and Xerox Corp. among others.

What will the Managed Print Services Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Managed Print Services Market Size for the Forecast Period and Other Important Statistics

 

Managed Print Services Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The need for the reduction of hardware and consumables costs is notably driving the managed print services market growth, although factors such as increasing use of digital media may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the managed print services industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Managed Print Services Market Driver

One of the key factors driving the managed print services market is the need for the reduction of hardware and consumables costs. MPS is a professional service offered by external service providers to optimize print and document output. It helps organizations to manage print devices such as printers, fax machines, copiers, and multifunction devices. As MPS helps in saving time and money, it is often outsourced to vendors to streamline print operations. MPS enables organizations to set up cost-effective and well-managed imaging and printing network. Few major advantages of using MPS include hardware maintenance, reduce workflow bottlenecks, reduced paper waste, saves recycling costs. It saves energy that would be consumed by multiple office printers and scanners. Therefore, MPS offers multiple benefits that help in reducing hardware and maintenance costs; this has led to various enterprises opting for MPS. For instance, the Newport City Council, a UK based local government organization, is using Xerox MPS. With the use of this MPS, the council has reduced its paper waste by 30% and saved almost $1,024 million in five years.

Key Managed Print Services Market Trend

Another key factor driving the managed print services market growth is the strategic partnerships and acquisitions among market participants. Therefore, vendors are opting for strategic partnerships and acquisitions with market participants such as software, technology, and platform providers. Strategic partnerships and acquisitions help vendors in product development, geographical expansion, and gaining access to technological expertise. These collaborations also enable vendors to explore areas of new opportunities for their products and services and generate revenue through the sales of their products and services to a wider customer base across the geographies. For instance, in January 2020, Xerox acquired Arena Group, a provider of office technology, software, solutions, and services in the UK. With this acquisition, the company would focus on expanding its offerings to SMBs. Thus, the rising number of strategic partnerships and acquisitions between vendors and market participants is expected to have a positive impact on the growth of the global MPS market during the forecast period.

Key Managed Print Services Market Challenge

Increasing use of digital media is one of the key challenges hindering the managed print services market growth. Globally, organizations are implementing different strategies to reduce their operational costs. On average, enterprises spend 2%-3% of their annual revenue on imaging and printing and use 10,000 sheets of paper annually. The buying cost of paper may not be high for organizations; however, the amount spent on storing, printing, and copying is high. The cost associated with paper operations is roughly 30 times the actual purchasing cost of paper. Thus, spending so much on paper and print management can be a huge operational cost for enterprises. Therefore, enterprises are implementing various methods that will help them to reduce the use of paper. Several enterprises are focusing on digital media instead of print media for offering services to customers. For instance, in May 2019, HSBC Holdings Plc (HSBC) announced that it had reduced the operational cost and increased revenue by going paperless with Adobe. In India, public sector banks are focusing on paperless transactions owing to government initiatives such as Digital India. Such initiatives can eliminate the need for printers, which will hinder the growth of the global MPS market during the forecast period.

This managed print services market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global managed print services market as a part of the global specialized consumer services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the managed print services market during the forecast period.

Who are the Major Managed Print Services Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ARC Document Solutions Inc.
  • Canon Inc.
  • Exela Technologies Inc.
  • HP Inc.
  • KYOCERA Corp.
  • Lexmark International Inc.
  • Ricoh Co. Ltd.
  • Sharp Corp.
  • Toshiba Corp.
  • Xerox Corp.

 

This statistical study of the managed print services market encompasses successful business strategies deployed by the key vendors. The managed print services market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

Product Insights and News

  • ARC Document Solutions Inc.- The company offers a 3-step MPS process to save the time and reduce the cost.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The managed print services market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Managed Print Services Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the managed print services market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

 

Which are the Key Regions for Managed Print Services Market?

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40% of the market’s growth will originate from North America during the forecast period. US is the key market for managed print services in North America. Market growth in this region will be faster than the growth of the market in South America regions.

Presence of a high number of enterprises from the BFSI, IT, healthcare, education, and other sectors will facilitate the managed print services market growth in North America over the forecast period. These organizations are looking for a solution that will help them to manage their printers and print documents efficiently to reduce overall printing costs and monitor overall print activities. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic slowed down distribution and logistical activities in the region in 2020, along with other social activities. As a result, the managed print services market in North America faced a considerable decline in sales. Moreover, the consumer discretionary industry witnessed job cuts and a decline in hiring, a surge in inventories, and an increase in distribution costs in 2020, all of which were primarily attributed to the decline in demand (supply-demand imbalance) and the shutting down of specialized consumer services. As the number of COVID-19 cases is increasing considerably in North America, even in March 2021, various vendors have shut down their retail stores on a temporary basis and have moved to online channels. Specialized consumer services in the US are selling them through their online portals. Such strategies will help vendors survive in the competitive managed print services market and retain customer loyalty toward specific brands.

What are the Revenue-generating Deployment Segments in the Managed Print Services Market?

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The managed print services market share growth by the cloud-based will be significant during the forecast period.The primary reasons for the increasing adoption of cloud-based MPS are globalization and the expanding geographical presence of end-users operating in the IT, BFSI, and retail sectors, which give rise to the need for a centralized system for print-related operations.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the managed print services market size and actionable market insights on post COVID-19 impact on each segment.

 

Managed Print Services Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5%

Market growth 2021-2025

$ 6.28 billion

Market structure

Fragmented

YoY growth (%)

4.12

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 40%

Key consumer countries

US, China, Germany, France, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ARC Document Solutions Inc., Canon Inc., Exela Technologies Inc., HP Inc., KYOCERA Corp., Lexmark International Inc., Ricoh Co. Ltd., Sharp Corp., Toshiba Corp., and Xerox Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Managed Print Services Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive managed print services market growth during the next five years
  • Precise estimation of the managed print services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the managed print services industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of managed print services market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Specialized consumer services market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Deployment

    • 5.1 Market segments
      • Exhibit 15: Deployment - Market share 2020-2025 (%)
    • 5.2 Comparison by Deployment
      • Exhibit 16: Comparison by Deployment
    • 5.3 Cloud-based - Market size and forecast 2020-2025
      • Exhibit 17: Cloud-based - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Cloud-based - Year-over-year growth 2020-2025 (%)
    • 5.4 On-premise - Market size and forecast 2020-2025
      • Exhibit 19: On-premise - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: On-premise - Year-over-year growth 2020-2025 (%)
    • 5.5 Hybrid - Market size and forecast 2020-2025
      • Exhibit 21: Hybrid - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Hybrid - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by Deployment
      • Exhibit 23: Market opportunity by Deployment

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 25: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 26: Geographic comparison
    • 7.3 North America - Market size and forecast 2020-2025
      • Exhibit 27: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: North America - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 29: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 APAC - Market size and forecast 2020-2025
      • Exhibit 31: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: APAC - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 33: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 35: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 36: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 37: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 38: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 39: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Competitive scenario
          • 9.2 Vendor landscape
            • Exhibit 40: Vendor landscape
          • 9.3 Landscape disruption
            • Exhibit 41: Landscape disruption
          • 9.4 Industry risks

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 43: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 44: Market positioning of vendors
            • 10.3 ARC Document Solutions Inc.
              • Exhibit 45: ARC Document Solutions Inc. - Overview
              • Exhibit 46: ARC Document Solutions Inc. - Business segments
              • Exhibit 47: ARC Document Solutions Inc. - Key offerings
              • Exhibit 48: ARC Document Solutions Inc. - Segment focus
            • 10.4 Canon Inc.
              • Exhibit 49: Canon Inc. - Overview
              • Exhibit 50: Canon Inc. - Business segments
              • Exhibit 51: Canon Inc. – Key news
              • Exhibit 52: Canon Inc. - Key offerings
              • Exhibit 53: Canon Inc. - Segment focus
            • 10.5 Exela Technologies Inc.
              • Exhibit 54: Exela Technologies Inc. - Overview
              • Exhibit 55: Exela Technologies Inc. - Business segments
              • Exhibit 56: Exela Technologies Inc. – Key news
              • Exhibit 57: Exela Technologies Inc. - Key offerings
              • Exhibit 58: Exela Technologies Inc. - Segment focus
            • 10.6 HP Inc.
              • Exhibit 59: HP Inc. - Overview
              • Exhibit 60: HP Inc. - Business segments
              • Exhibit 61: HP Inc. - Key offerings
              • Exhibit 62: HP Inc. - Segment focus
            • 10.7 KYOCERA Corp.
              • Exhibit 63: KYOCERA Corp. - Overview
              • Exhibit 64: KYOCERA Corp. - Business segments
              • Exhibit 65: KYOCERA Corp. - Key offerings
              • Exhibit 66: KYOCERA Corp. - Segment focus
            • 10.8 Lexmark International Inc.
              • Exhibit 67: Lexmark International Inc. - Overview
              • Exhibit 68: Lexmark International Inc. - Product and service
              • Exhibit 69: Lexmark International Inc. - Key offerings
            • 10.9 Ricoh Co. Ltd.
              • Exhibit 70: Ricoh Co. Ltd. - Overview
              • Exhibit 71: Ricoh Co. Ltd. - Business segments
              • Exhibit 72: Ricoh Co. Ltd. - Key offerings
              • Exhibit 73: Ricoh Co. Ltd. - Segment focus
            • 10.10 Sharp Corp.
              • Exhibit 74: Sharp Corp. - Overview
              • Exhibit 75: Sharp Corp. - Business segments
              • Exhibit 76: Sharp Corp. - Key offerings
              • Exhibit 77: Sharp Corp. - Segment focus
            • 10.11 Toshiba Corp.
              • Exhibit 78: Toshiba Corp. - Overview
              • Exhibit 79: Toshiba Corp. - Business segments
              • Exhibit 80: Toshiba Corp. - Key offerings
              • Exhibit 81: Toshiba Corp. - Segment focus
            • 10.12 Xerox Corp.
              • Exhibit 82: Xerox Corp. - Overview
              • Exhibit 83: Xerox Corp. - Product and service
              • Exhibit 84: Xerox Corp. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 85: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 86: Research Methodology
                • Exhibit 87: Validation techniques employed for market sizing
                • Exhibit 88: Information sources
              • 11.4 List of abbreviations
                • Exhibit 89: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The managed print services market growth will increase by $7.08 billion during 2020-2024.
              The managed print services market is expected to grow at a CAGR of 4.84% during 2020-2024.
              Technavio has segmented the managed print services market by deployment (Cloud-based, On-premise, and Hybrid) ,application (North America, Europe, APAC, South America, and MEA) , and geographic (North America, Europe, APAC, and South America).
              ARC Document Solutions Inc., Canon Inc., Exela Technologies Inc., Hewlett Packard Enterprise Co., KYOCERA Corp., Lexmark International Inc., Ricoh Co. Ltd., Sharp Corp., Toshiba Corp., Xerox Corp. are a few of the key vendors in the managed print services market.
              North America will register the highest growth rate of 39.46% among the other regions. Therefore, the managed print services market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the managed print services market growth are:
              • Need for the reduction of hardware and consumables costs
              • Strategic partnerships and acquisitions among market participants
              The managed print services market vendors should focus on grabbing business opportunities from the cloud-based segment as it accounted for the largest market share in the base year.
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