The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The rise in print security spending is expected to spur innovation in managed print services manufacturing, propelling the market during the forecast period.

The global managed print services market is expected to grow from $39.02 billion in 2022 to $42.65 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The managed print services market size is expected to grow to $59.65 billion in 2027 at a CAGR of 8.7%.

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Global Managed Print Services Market Segments Include:

• By Type: Print Management, Device Management, Discovery and Design, Document Imaging
• By Channel Type: Printer/Copier Manufacturers, System Integrators/Resellers, Independent Software Vendors (ISVs)
• By Deployment Mode: On-premise, Cloud-based, Hybrid
• By Organization Type: Small and Medium Enterprises (SMEs), Large Enterprises
• By Application: BFSI, Government, Education, Healthcare, Telecom and IT, Manufacturing, Legal, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global managed print services market in 2021.

Major Market Players in the managed print services market include ARC Document Solutions Inc., Canon Inc., HP Inc., Kyocera Document Solutions Inc., Konica Minolta Inc., Lexmark International Corporation, Ricoh Company Ltd.

The key trend gaining traction in the managed print services market is technological advancement. To improve flexibility and strengthen their market position, major companies in the managed print service market are focusing on developing new technological solutions such as cloud-based solutions. For example, in September 2021, HP Inc., a US-based IT provider, introduced HP Managed Print Flex, a new cloud-first Managed Print Service (MPS) that simplifies management, boosts productivity, and provides the flexibility to scale or modify in response to changing business needs, resulting in cost savings. Customers and partners can use the cloud service to select the printers that best meet their needs and quickly and effectively equip workers in the office or at home with print technology.

The Managed Print Services Global Market Report 2023  provides a managed print services market overview 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 market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Managed print services are the outsourcing of all print-related work for a company in order to reduce costs and increase efficiency. An external provider provides these services to optimise or manage a company’s document output.

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