Report: Global Managed Print Services Market to Reach $98 Billion by 2024
Citing a study from Transparency Market Research, Channel Economics reports that the global market for managed print services (MPS) will grow from $26.2 billion in 2015, to about $98 billion by 2024, with a 15-percent compound annual growth rate (CAGR) in revenue growth through the forecast period.
Factors that are said to be driving the market ahead include lower operational costs, streamlining of print workflow and print-monitoring usage. According to the report, MPS adoption by small to mid-size enterprises is also forecast to outpace that of larger enterprises and fuel the segment’s growth.
Key channel partners such as Xerox, ARC, Ricoh, Lexmark, Canon, Konica Minolta, Kyocera, Toshiba, HP Inc., and Print Audit are expected to play an important role as they increase their channel network and geographic reach to increase market presence.
The report states that channel partners accounted for the largest share of the total MPS market last year. Cloud-based deployment was said to be the largest segment of the MPS market in 2015 and is likely to dominate over the forecast period.
- June 2016: IDC: Slump for Global Printer/MFP Market in 1st Quarter, but MPS Contracts Continue to Grow
- March 2016: One-in-Three Managed Print Services Customers Said to be Dissatisfied, Leaving MPS
- December 2015: PrintFleet Partnering with MWA Intelligence to Enhance MPS Print-Monitoring Solutions
- September 2015: Fuji Xerox Says More than Half of its Revenue to Come From Services, Including MPS, by 2017
- September 2015: HP Inc. to Focus on ‘Ink in the Office,’ A3 MFP/Copier Market, 3D Printing, Graphics, MPS
- August 2015: New Katun MPS Profit Calculator Cloud-Based Tool for Generating Profitable MPS Assessments
- July 2015: PrintFleet and Katurn Form MPS Partnership
- June 2015: New Lexmark Managed Print Services Offering, ‘Advantage MPS Core’ for U.K., Ireland
- April 2015: New Xerox CompleteView User Analytics Tool for MPS, Monitoring Users’ Printing
- March 2015: HP Revamps Channel-Partner Programs to Help Partners with Its Separation into Two Companies
- January 2015: Xerox to Market Kofax’s Total Agility Platform to Enhance its MPS and Document-Management Services
- September 2014: Xerox Targets SMB Segment with New MPS (and Free Printer) Plan; New ConnectKey Multifunctionals for SMB; More