The global market of managed print services (MPS) is likely to be spread out to $59.54 billion at a compound annual growth rate (CAGR) of 8.6 percent from 2018 to 2026 which, in 2016, was valued at $30.71 billion, as stated in a report published by Transparency Market Research. In 2016, in terms of revenue to the managed print services (MPS) market, the largest contributor was North America.
To prevent paper wastage in organization, because of governments imposing strict rules and regulations, a sizeable development has been expected by the MPS in global markets. Organizations also get benefit of cost reduction in relation to paper usage, energy consumption and number of printers by MPS. Providing high performance with low costs through reduced physical footprints, lower costs upon maintenance and higher productivity; Managed print services results in total cost of ownership (TCO).
Enterprise size, industry, deployment, channel and geography are the major segments of global market for MPS with on-premises, hybrid and cloud as sub segments of its main segment deployment. Cloud segment with its highest share remained not only the major contributor to revenue of managed print services globally in 2017 but is also likely to get bigger in forecasted period of 2018 to 2026.
Global market of MPS for enterprises size has also been subdivided into large enterprise and small & medium enterprises (SME) whereas for channel, it has been bifurcated in core MPS provider or channel partner and copier/printer manufacturer.
Government and public, education, constructions, legal, telecom and IT, healthcare, manufacturing banking, financial services and insurance (BFSI) are the categories of industry segment of global managed print services.
For its segment of geography, MPS has been split into Europe, Asia Pacific, Middle East & Africa, South America and the largest shareholder North America.