The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Understanding the Market Dynamics

The managed print services market has witnessed substantial growth in recent years, driven by various factors contributing to its expansion. The market size surged from $42.88 billion in 2023 to $46.83 billion in 2024, marking a notable compound annual growth rate (CAGR) of 9.2%. Key drivers of this growth include:

• Cost reduction initiatives
• Increased printing complexity
• Rising awareness of environmental sustainability
• Growth in mobile printing
• Complexity of print infrastructure
• Focus on core competencies
• Globalization of business operations
• Integration with enterprise content management

Future Growth Projections

Expectations remain high for the managed print services market, with forecasts indicating a robust trajectory. By 2028, the market is projected to reach $66.43 billion, maintaining a steady CAGR of 9.1%. Anticipated growth drivers for this period include:

• Increasing digital transformation initiatives
• Shift to hybrid work environments
• Focus on user authentication and access control
• Advancements in print analytics
• Growth in 3D printing
• Focus on user experience
• Emphasis on sustainability and green printing

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Emerging Trends and Market Dynamics

Print Security Spending: A Catalyst for Market Expansion

The rise in print security spending is anticipated to fuel the growth of managed print services. With organizations increasingly prioritizing secure management of print devices and related infrastructure, the demand for managed printing solutions is on the rise. According to reports, organizations are allocating more resources towards print security, with significant increases expected in the near future. This trend underscores the importance of managed print services in enhancing document security and environmental sustainability.

Innovations Driving Market Innovation

Technological advancements play a pivotal role in shaping the landscape of managed print services. Major players are investing in innovative solutions, such as cloud-based services, to enhance flexibility and competitiveness. HP Inc., for instance, introduced HP Managed Print Flex, a cloud-first MPS designed to streamline management and boost productivity. Such innovations are redefining the flexibility and scalability of managed print services, catering to the evolving needs of businesses and consumers alike.

Strategic Acquisitions and Market Segmentation

Strategic acquisitions are reshaping the competitive landscape of the managed print services market. Novatech’s acquisition of ManagedPrint underscores the industry’s focus on expanding coverage and enhancing service offerings. Moreover, market segmentation based on type, channel type, deployment mode, organization size, and application enables companies to target specific segments effectively, addressing diverse customer needs and preferences.

Market Segmentation and Regional Outlook

Segmentation Overview

The managed print services market is segmented based on:

1. Type: Print Management, Device Management, Discovery and Design, Document Imaging
2. Channel Type: Printer/Copier Manufacturers, System Integrators/Resellers, Independent Software Vendors (ISVs)
3. Deployment Mode: On-premise, Cloud-based, Hybrid
4. Organization Type: Small and Medium Enterprises (SMEs), Large Enterprises
5. Application: BFSI, Government, Education, Healthcare, Telecom and IT, Manufacturing, Legal, Other Applications

Regional Insights

North America emerged as the largest region in the managed print services market in 2023, with continued growth anticipated in the forecast period. The region’s dominance underscores the significant adoption of managed print services across various industries. Moreover, North America is poised to be the fastest-growing region, further consolidating its position as a key market for managed print services.

In conclusion, the managed print services market is witnessing rapid evolution, driven by technological innovation, increased emphasis on security, and strategic initiatives. With promising growth prospects and emerging trends, the market is poised for further expansion and diversification in the years to come.

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The Managed Print Services Global Market Report 2024  provides an overview of the managed print services market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The managed print services market forecast analyzes managed print services market size, managed print services market share, leading competitor and their market positions.

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