Managed print services (MPS) are services offered by an external provider to optimize or manage a company’s document output. The services include needs assessment, selective as well as general replacement of hardware. In addition, the other essential services include the service, parts and supplies required to operate the new and/or existing hardware. The provider also tracks how the printer, fax, copier and MFP fleet is being used, the problems, and the user’s satisfaction. Furthermore, MPS helps you gain visibility and control of document processes and costs. This ultimately saves money, automates steps, boosts productivity, and improves document security and environmental sustainability.

The market is witnessing growth owing to the increasing awareness about the environmental advantages of adopting MPS. Moreover, the amount of digital waste is lowering at a greater pace owing to the reduced need for dedicated printing hardware. Thus, reduction of printing hardware devices is expected to augment the market, as e-waste is a key concern due to the growing consumer electronics industry. In addition, managed print services providers have also made significant efforts to improve the security of the client data handled during printing. Therefore, the rising threat of cybercrime, has become a key driver for the global MPS market. Furthermore, authenticity and encryption services are being used in the managed print services industry to protect the data of the client, with players increasingly looking to collaborate with digital security providers. However, the facility of being able to save data on the cloud from virtually any modern communication device is further increasing the usage of digital data rather than physical content. This is expected to hamper the market growth in the coming years.

The market has been segmented by channel, enterprise size, deployment model, end-user and region. By channel, the market is segmented as channel partner/ core mps providers, printer/copier manufacturers. By enterprise size, the market is segmented as small enterprise, medium enterprise, large enterprise. Based on deployment model, the market is segmented as hybrid, on-premise, cloud-based. By end-user, the market is segmented asbfsi, manufacturing, telecom & it, construction, education, healthcare, legal, construction, public & government, others. Based on region, the global Managed Print Services Market can be divided into North America, Central and South America (CSA), Europe, Middle East & Africa and Asia Pacific.

Some of the players in the market include Xerox Corporation, Konica Minolta Inc., Canon Inc., Ricoh Company Ltd., Toshiba Corporation, ARC Document Solutions Inc., HP Development Company,HCL Technologies, KYOCERA Corporation,and Lexmark Corporation.