Latest News- Managed Print Services Market: Cloud-based is expected to lead the Deployment segment during 2025-2029

The Managed Print Services Market is being driven by Need for reduction of hardware and consumables costs

The Managed Print Services Market is expected to grow at a CAGR of 6.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 13564 million. In the highly competitive global managed print services market, companies are pursuing strategic partnerships and acquisitions with software, technology, and platform providers to enhance their offerings and expand their reach. These collaborations enable market participants to advance product development, broaden their geographical presence, and access valuable technological expertise. By exploring new opportunities for their products and services and expanding their customer base, these strategic alliances are poised to significantly contribute to the growth of the managed print services market during the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • Cloud-based
  • On-premises
  • Hybrid
• Platform
  • Large enterprises
  • SMEs
• End-user
  • BFSI
  • Healthcare
  • Telecommunications and IT
  • Others
• Service Type
  • Print Management
  • Device Management
  • Supplies Management
  • Maintenance and Support
  • Document Workflow Solutions
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
    • Argentina
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Need for reduction of hardware and consumables costs
• Increased adoption of managed print services by SMEs
• Rising demand of managed print services from BFSI sector

However, the market also witnesses some limitations, which are as follows:

• Increasing use of digital media
• Lack of ownership of the organization over the print devices
• Increase in initial investment and security challenges associated with managed print services

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Market Scope in Managed Print Services Market Research Report

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Research Analysis Overview

Managed Print Services (MPS) optimize resource allocation in businesses by streamlining print operations with IT resources under service agreements. It provides accessible printing solutions for various devices like copiers, laptops, tablets, and secure boot technology, promoting efficient printing practices and productivity. MPS addresses print-related issues, expenses, and unexpected costs through fixed monthly fees. It enhances productivity by managing printing processes, securing sensitive information, and promoting environmental sustainability. MPS also offers document workflows, cloud-based solutions, mobile printing capabilities, budget management, and signs, contributing to business growth, publication, and time savings. Additionally, it addresses organizational needs for print administration, resource use, and financial planning.

Market Research Overview

The Managed Print Services (MPS) market encompasses revenue generated by providers offering print fleet optimization, document security, print cost control, print sustainability initiatives, sustainable printing practices, print compliance, print driver management, print auditing, and print policy management solutions. According to Technavio's market research, the global MPS market size is calculated based on the income generated by specialized businesses delivering these services, such as print fleet optimization consultants, document security providers, cost control solutions, sustainability initiatives specialists, printing practices advisors, compliance regulators, print driver managers, print auditing firms, and print policy management companies. The report excludes MPS offerings in the casino and gaming, hotel, resorts, and cruise lines; leisure facilities; restaurants; and education services sectors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/