Managed Print Services Future Forecast 2018 – 2026 | Latest
Research Analysis by BlueWeave Consulting & Research Pvt Ltd.
According to a new report published by Blue Weave Consulting, The Global Managed Print
Services Market valued at US$ 30,895.8 billion is expected to grow at a CAGR of 7.5%
from 2018-2026 reaching US$ 58,779.7 billion over the forecasted period. According to the
report, North America is the highest contributor in terms of revenue to the global managed
print services market in the year 2017. However, Asia Pacific is the fastest growing region
at a CAGR of 10.4%
Rise in increased security levels as well as reducing environmental impact are
substantially driving the global managed print services market
Managed Print Services is a business solution that creates transparent and tangible value
minimizing the energy usage on print, budget and time spend on the environment. It offers
oversight and provision for business document output along with external service providers.
The services include deployment of software/app by the vendors, device
maintenance/support, and other additional services including assessment, analytics,
mobility and other services/solutions offered by the MPS providers.
Increased security level for printing document has been one of the instrumental factor
driving the market. Data in any form has become very vital intellectual property (IP).
Leakage of data such as business ideas, future strategies, or financial statements might
adversely affect any company’s reputation in the market or cause heavy financial losses.
Thus, security of data has been considered the highest priority in recent years.
Advancements in technology and continuous innovation by vendors to provide high-level
security to data while using MPS has recently attracted a high number of organizations to
consider MPS for their printing needs. For instance, Xerox emphasizes providing high-level
authentication and encryption to ensure protection of vital data. In February 2013, Xerox
partnered with McAfee to enhance security of its MPS.HP Inc. stands out in particular for its
Secure MPS strategy that incorporates a range of consulting services as well as broader IT
integration with existing security information and event management (SIEM) tools.
Organizations are increasingly considering CSR activities to comply with government
regulations in order to mitigate environmental effects through their activities. Thus,
reduction in the environmental effects is considered one of the major factors to aid the fast
growth of the MPS market. Also, reduction in cost and reduction in downtime are key drivers
too.
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