According to a new market report published by Transparency Market Research, the global managed print services (MPS) market was valued at US$ 30,705.7 Mn in 2016 and is expected to expand at a CAGR of 8.6% from 2018 to 2026, reaching US$ 59,537.7 Mn by the end of the forecast period. According to the report, North America was the largest contributor in terms of revenue to the managed print services (MPS) market in 2016.
Government rules and regulations to save paper in enterprises and cost benefits offered by managed print services are driving the global managed print services (MPS)market
The global managed print services (MPS) market is expected to witness considerable growth due to the stringent rules and regulations of governments to prevent paper wastage. Managed print services provide cost benefits to organizations. Additionally, it helps organizations to reduce the number of printers, usage of paper, and the energy consumption. Managed print services provide low price and high performance, reduced physical footprints, and more productivity, and lower maintenance costs. Thus, managed print services reduce total cost of ownership (TCO).
Managed Print Services (MPS) Market: Scope of the Report
The global market for managed print services (MPS) is segmented on the basis of deployment, enterprise size, channel, industry, and geography. On the basis of deployment, the market is segmented into cloud, on-premise, and hybrid. In 2017, the cloud segment accounted for the largest market share in terms of revenue of the global managed print services (MPS) market.
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Furthermore, the cloud segment is expected to expand during the forecast period. On the basis of enterprise size, the global managed print services (MPS) market is bifurcated into small & medium enterprises (SME’s), and large enterprises. Based on channel, the market is categorized into printer/copier manufacturers and channel partner/core MPS providers. On the basis of industry, the market is divided into banking, financial services, and insurance (BFSI), telecom and IT, government and public, healthcare, education, legal, construction, manufacturing, and others.