Managed Print Services (MPS) Market Analysis Report, By Channel, By Deployment, By Organization, By Application And Segment Forecasts From 2020 To 2027

Industry Insights

The managed print services (MPS) market across the globe generated a revenue of USD 30.91 billion in 2019. It is projected to witness a 6.2% CAGR over the forecasted years, 2020 to 2027. Strict rules and regulations being imposed for reducing paper wastage and efforts for cutting operational costs are projected to drive the market growth for such services.

Adoption of MPS can help in reducing the requirement of local printers, analyze printing needs, replacement of ineffective devices, supply delivery automation, and allow remote operations. Also, the rising need to reduce energy consumption and provide customizable solutions is expected to generate demand for such services.

These services are majorly used for reducing the risks associated along with unsecured multi-function printers and products. These services have access to email, ERP systems, and cloud-based repositories. Also, features like higher performance, lower pricing, reduction in physical footprints, and enhanced productivity are estimated to trigger the market growth for such services.

Channel Insights

In 2019, the printer manufacturer channel segment dominated the global market. The surging demand for these services by the key printers and copier manufacturers is projected to propel the market demand. Also, the imposition of favorable regulations by governing bodies coupled with the increasing number of startups is expected to augment the market growth for this segment.

The system integrator segment is estimated to witness the fastest growth with around 7.9% CAGR over the forecasted period. These integrators offer a wide variety of solutions and managed IT-related services. These integrators or software vendors are independent identities that can assist in printing and managing services across several organizations and individual end-users.

Deployment Insights

In 2019, the cloud-based segment of deployment held the largest share across the global MPS market. This can be attributed to the cost-effectiveness associated with it. Also, their easy access to the OEM server through the web browser and pricing based on an annual or monthly subscription is projected to boost the market growth for such services.

The hybrid deployment segment is expected to register the fastest CAGR of around 7.0% across the global market. This can be associated with its offerings concerning on-premise and cloud-based deployment modes. These modes are can be operated dually by the service providers.

Organization Insights

In 2019, the large enterprise segment accounted for the highest share across the global market. It is also estimated to register a 6.7% CAGR from 2020 to 2027. This can be attributed to the rising awareness and need for maintaining business operations and practices. Also, risks associated with security breaches, threats, spam, and cyberattacks are projected to drive market growth.

The segment of small and medium enterprises is expected to register the fastest CAGR from 2020 to 2027. This can be associated with the shifting trend of small organizations towards the adoption of service management software. Also, rising safety concerns an increasing number of malware attacks and mishaps are expected to trigger the demand for MPS.

Application Insights

In 2019, the BFSI (Banking, Financial Services, & Insurance) segment dominated the global managed print services market. The rising demand for MPS systems across government organizations, IT, Telecom, education, and retail sectors are projected to drive the market growth for this segment. Moreover, the need for securing private documents is expected to surge the demand for such services.

The application segment of retail and consumer goods is expected to boost in the upcoming years. Several initiatives being undertaken by the governing bodies and surging concerns over security across the IT & Telecom sector are anticipated to propel the demand for such services.

Regional Insights

The Asia Pacific is expected to register significant growth in the upcoming years across the global managed print services (MPS) market. This growth can be associated with the surging number of consumer goods and retail startups across developing countries like India, Japan, and China. Countries like Singapore and Australia had adopted this technology at an early stage and now are creating more awareness for widening its applications across the healthcare and education sector.

North America accounted for the largest share across the global market in 2019. This can be associated with the increasing number of startups, retail stores, and healthcare industries across Canada and the U.S. are expected to augment the market growth in the upcoming years. Moreover, the launching of new programs and strategic acquisitions undertaken by the MPS service providers are expected to further fuel up demand for such services across this region.

COVID-19 Impact Insights

The market has been negatively affected due to the COVID-19 outbreak. Implementation of work from home policies by several organizations and the rising adoption of online education have significantly reduced the need for printed papers. Also, the availability of options like screen sharing, internet banking, and computer-based examinations are expected to hinder the demand for such services to some extent. Moreover, the need for developing contactless and virtual platforms to share information is anticipated to obstruct the market growth over the post-pandemic period.

Managed Print Services (MPS) Market Share Insights

The global market includes key players such as Hewlett-Packard (HP), Xerox Corporation, Canon, Lexmark Corporation, Konica Minolta Inc., Sharp Corporation, Toshiba, and Ricoh. Also, rapidly evolving opportunities for software vendors and system integrators to enter the market are expected to drive market growth.

Several strategies like alliances, partnerships, and agreements are being undertaken by the key players for widening their geographical reach. For instance, Xerox had launched a program for MPS Print accreditation along with channel partners in 2017 for enhancing their profit through MPS expertise.

Report Scope

Segments Covered in the Report 

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2016 to 2027 in each of the sub-segments. For this study, Million Insights has segmented the global managed print services market based on channel, deployment, organization, application, and region:

• Channel Outlook (Revenue, USD Million, 2016 - 2027)
    • Printers/Copiers Manufacturers
    • System Integrators
    • Independent Software Vendors

• Deployment Outlook (Revenue, USD Million, 2016 - 2027)
    • On-Premises
    • Cloud-based
    • Hybrid

• Organization Outlook (Revenue, USD Million, 2016 - 2027)
    • Small and Medium Enterprises
    • Large Enterprises

• Application Outlook (Revenue, USD Million, 2016 - 2027)
    • BFSI
    • Education
    • Government
    • Healthcare
    • Industrial Manufacturing
    • Retail & Consumer goods
    • Telecom & IT
    • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
        • The U.S.
        • Canada
        • Mexico
    • Europe
        • The U.K.
        • Germany
        • France
        • Italy
        • Rest of Europe
    • The Asia Pacific
        • China
        • India
        • Japan
        • Rest of APAC
    • South America
        • Brazil
        • RoSA
    • MEA