US Managed Print Services Market Size By Deployment Mode(Cloud Based, Hybrid and on-Premises), By Channel Type(Printer/copier Manufacturer, System Integrator/ Resellers, Independent software Vendors), By Industry Vertical(BFSI, Healthcare, education, Industrial Manufacturing) & Forecast

US Managed Print Services Market Size And Forecast

US Managed Print Services Market size was valued at USD 9304.17 Million in 2020 and is projected to reach USD 15919.49 Million by 2028, growing at a CAGR of 7.57% from 2021 to 2028.

The regulations and stringency in framework for protection of environment from E-waste are major factors which support the adoption of Print Services. The U.S. regulatory scenario and significant reduction in E-Waste generation through MPS is expected to drive the market during the forecast period. The US report provides a holistic evaluation of the market. The report offers comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

What are Managed Print Services?

Managed Print Service is a program offered by print providers that manage all aspects of business printing devices, including printers, scanners, faxes and copiers. By optimizing these devices, businesses save money, produce less paper waste and increase efficiency. The Managed Print Services have been gaining popularity due to its widespread scope in variety of industries. The development of Big Data technology and IoT affect the MPS market significantly.The United States market for managed print services (MPS) is driven by rising customer needs and demands, which has encouraged players in this market to focus on delivering innovative and cost-effective offerings. Managed print services are designed to help users achieve their business objectives by streamlining operations and ensuring utmost efficiency in data collection & storage. There are a host of benefits that MPS offer, which include reduction in printer volume, accurate allocation of costs, reduction in printer fleet, minimized IT workload, lowering paper usage, enhanced security and authentication, lower consumption of electricity, and overall business efficiency.One of the key challenges staring managed print service providers in the face is the ongoing transition to a more digitized paper workflow. Companies are looking to reduce their reliance on paper and this poses as a major hurdle in the widespread adoption of managed print services. Nevertheless, experts in the industry believe that this owing to the significant role that printing plays in various business operations, companies will continue to be reliant on this function.

US Managed Print Services Market Overview

Growing popularity of big data solution is a factor which pushes the market growth. With expansion of digital technologies and networking made stronger, the market for Big Data is expected to flourish during the forecast period. The scenario plays an important role in Managed Print Service market. As the technical equipment and handling them becomes complex, the requirement for professional services to manage and maintain these devices also increases. Managed print services are gaining popularity and Big Data is a crucial aid which supports the practice to become efficient and more adaptable. Along with innovation in Big Data, Managed Print Services market should get immensely benefited. The rising On Cloud storage usage is another driver for the adoption of big data technology in various industrial processes. Moreover, reduction in E-waste generation through MPS is also a factor which motivates the market. The regulations and stringency in framework for protection of environment from E-waste are major factors which support the adoption of Print Services. The U.S. regulatory scenario and significant reduction in E-Waste generation through MPS is expected to drive the market during the forecast period. Integration of these systems with services rendered by managed printing service providers opens up an opportunity for them to penetrate the industrial market more and flourish during the forecast period

Existence of identity crises for MPS market hampers the market growth. Intense competition for MPS providers is also a major factor which pushes these enterprises to expand their versatility with respect to their role in a business or end user sector. The current scenario suggests complexity in cost management and acts as a restraint for MPS market which can hinder its growth during the forecast period.

US Managed Print Services MarketSegmentation Analysis

The US Managed Print Services Market is segmented on the basis of Deployment Mode, channel Type and Industry vertical.

US Managed Print Services Market by Deployment Mode

• Cloud Based
• Hybrid
• On-Premises

To Get Summarized Market Report By Deployment mode-

Based on the Deployment mode, the US Managed Print Services Market has been segmented into Cloud Based, Hybrid and on-Premises. Cloud Based accounted for the largest market share of in 2020, and is projected to grow during the forecast period. Cloud-based deployment holds the largest market share as it provides businesses to remotely access their data as well as documents on the cloud. Cloud based print services help the consumers to save the data on the cloud and can be accessed by them remotely. It is lately the fastest growing domain in the managed print services due to increased demands of cloud computing.

US Managed Print Services Market by Channel Type

• Printer/copier Manufacturer
• System Integrator/ Resellers
• Independent software Vendors

To Get Summarized Market Report By Channel Type-

On the basis of Channel Type, the US Managed Print Services Market has been segmented into Printer/copier Manufacturer, System Integrator/ Resellers, Independent software Vendors. Printer/Copier Manufacturers accounted for the largest market share in 2020, and is projected to grow at a long term CAGR of 7.29% during the forecast period. Due to its efficiency and economic benefits, the market for printer/copier manufacturers is rising. Owed to the number of start-ups and small businesses with less capital, the scope of these devices is expected to flourish. Another factor for rise in printing services market is its role in the education society. Schools and colleges are ought to have these kind of services as it is most convenient and affordable for students.

US Managed Print Services Market by Industry Vertical

• BFSI
• Healthcare
• Education
• Industrial Manufacturing
• Telecommunication & IT
• Others

On the basis of Industry Vertical, the US Managed Print Services Market is classified into BFSI, Healthcare, education, Industrial Manufacturing, Telecommunication & IT and Others. BFSI accounted for the largest market share of 33.59% in 2020, with a market value of USD 3,124.88 Million and is projected to grow during the forecast period.

Key Players

The “US Managed Print Services Market” study report will provide a valuable insight with an emphasis on the US market including some of the major players such as  HP Inc, Toshiba Corporation, Sharp Corporation, RICOH COMPANY, LTD., Kyocera Corporation, Kinica Minolta Inc, Xerox Corporation and Others.

The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post sales analyst support

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