The
managed print services (MPS) market refers to ongoing management and
optimization of printing devices and consumables by third-party providers. MPS
offers advantages like reduced infrastructure costs, improved security and
control over document usage. It enables organizations to focus on core business
activities while an MPS provider handles procurement, deployment and
maintenance of multi-function printers, toner, parts and service. As remote
work models expanded during the pandemic, MPS solutions enabled secure scanning
and printing from anywhere via cloud-based platforms.
The Global Managed Print Services Market
is estimated to be valued at US$ 52.63 Mn in 2024 and is expected to exhibit a
CAGR of 6.7% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the managed print services market are DIC
CORPORATION, Solvay S.A., Lion Idemitsu Composites Co., Ltd, Toray Industries,
Inc., Tosoh Corporation, SK chemicals, Chengdu Letian Plastics Co., Ltd.,
Celanese Corporation, TEIJIN LIMITED, SABIC, Zhejiang NHU Co., Ltd., LG Chem,
RTP Company and Ensinger.
The growing demand for
Managed
Print Services Market Demand from large enterprises and government
organizations is expected to drive market growth. MPS vendors are also
expanding their offerings to include desktop printing assessment, digital
transformation consulting and document management solutions.
Major MPS providers are expanding their footprint globally through partnerships
and acquisitions to cater to the increasing need for streamlined printing
across multi-national corporations operating across geographies.
Market Key Trends
Digital transformation and remote working trends accelerated by the
COVID-19 pandemic have boosted demand for cloud-based and mobile-enabled
managed print services. MPS vendors are increasingly utilizing analytics and
artificial intelligence to optimize workflows, predict device failures and offer
proactive support. One key trend is the integration of managed print services
with cloud storage and content management platforms to enable unified
documentation management from any location.
Porter’s Analysis
Threat of new entrants: New entrants need large capital investment and
technical expertise to deal with complex client needs and established players.
Bargaining
power of buyers: Large enterprises have strong bargaining power due to their
scale and demands. Small and medium businesses have less power.
Bargaining
power of suppliers: Suppliers have moderate power as there are many component
providers and technology is not highly proprietary. Threat of new substitutes:
Technology development may introduce new alternatives like cloud printing.
Competitive rivalry: Market is dominated by few large players leading to high
competition in pricing and service quality.
Largest regions for the Managed Print Services Market in terms of value are
North America and Europe due to high technology adoption and cloud
infrastructure. Asia Pacific region is growing fastest due to expanding
economy, growing enterprises and increasing digitalization in countries like
China and India.
Get more insights on Managed
Print Services Market
Alice Mutum is a seasoned senior content editor at Coherent
Market Insights, leveraging extensive expertise gained from her previous role
as a content writer. With seven years in content development, Alice masterfully
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