Managed Print Services Market

Managed Print Services Market Overview:

The global managed print services market size reached USD 49.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 94.3 Billion by 2033, exhibiting a growth rate (CAGR) of 6.83% during 2025-2033. There are numerous factors that are driving the market, which include the growing demand for customized and scalable solutions, rising focus on core business activities, and increasing need to enhance operational efficiency in diverse enterprises.

Managed Print Services Market Analysis:

• Major Market Drivers: One of the key market drivers include compliance and regulatory requirements. Moreover, there is an increase in concerns about data security, which is acting as another growth-inducing factor.
• Key Market Trends: The rising focus on core business activities, along with the increasing demand for customized and scalable solutions, are main trends in the market.
• Geographical Trends: Asia Pacific exhibits a clear dominance, accounting for the biggest market share owing to the rising adoption of cloud-based solutions.
• Competitive Landscape: Numerous market players in the managed print services industry are ARC Document Solutions Inc., Brother Industries Ltd., Canon Inc., HP Inc., Konica Minolta Inc., Lexmark International Inc., Ricoh Company Ltd., Sharp Corporation, Toshiba Corporation, WeP Solutions Ltd, Xerox Corporation., among many others.
• Challenges and Opportunities: The high initial investment and vendor dependence are key market challenges. Nonetheless, the rising focus on sustainability, coupled with the hybrid work models, is projected to overcome these challenges and offer market opportunities.

Managed Print Services Market Trends:

Rising Focus on Core Business Activities

On 7 February 2023, Lexmark, a global leader in imaging and printing solutions, launched managed print services express, a cloud-based program that provides small and medium businesses (SMBs) with a solution to streamline their document management processes and free them from day-to-day printer management. The new program provides tools that allow partners to create their own commercial package for small and medium enterprise (SME) individuals, thereby building a long-term relationship that enables individuals to better focus on their core business. Moreover, by outsourcing print management to managed print services (MPS) providers, organizations can streamline their operations. This allows companies to eliminate the time and resources spent on managing print environments and enable employees to focus more on tasks that directly contribute to the company’s primary goals and revenue generation.

Increasing Need to Enhance Operational Efficiency

MPS provides thorough control over printing procedures, tools, and supplies, which allow organizations to lower their printing expenses. Companies can lower their hardware and maintenance costs by outsourcing print management. MPS is also beneficial in enhancing operational efficiency by cutting downtime and optimizing print environments. Additionally, top players are introducing novel MPS solutions that address the varied requirements of businesses of all sizes. For example, in response to the increased demand for print-as-a-service, Brother UK unveiled 3 new managed print services options on August 23, 2023, as to improve its support for resellers. MPS Essential, MPS Professional and MPS Enterprise are the three options that are designed for the needs of diverse businesses, ranging from small organizations with a single office to complex multi-site corporations.

Growing Demand for Customized and Scalable Solutions

Depending on their size, industry, and operational requirements, different organizations have different print management demands. Providers can customize managed print services (MPS) to fit unique user needs such as managing high print volumes, connecting with pre-existing information technology (IT) infrastructure, or meeting industry-specific compliance standards. On 28 September 2023, Konica Minolta Business Solutions (UK) Ltd partnered with the Teesside based managed print solutions provider, Digital Office Solutions, to strengthen its market reach in the Northeast of England and beyond. This partnership with Konica Minolta enables the company to provide clients with the latest bizhub multifunction print devices, backed up by the manufacturer’s direct support, with the team delivering personalized local support from a well-established and trusted independent managed print solutions expert.

Managed Print Services Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on type, deployment mode, organization size, and industry vertical.

Breakup by Type:

• Print Management
• Device Management
• Discovery and Design
• Document Imaging
   

Device management accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the type. This includes print management, device management, discovery and design, and document imaging. According to the report, device management represented the largest segment.

Device management involves the centralized oversight of all print devices within an organization including printers, copiers, and multifunction devices. This centralized control guarantees that all devices are functioning optimally, reducing downtime while improving overall efficiency. To minimize disruptions and ensure that print machines function properly, effective device management entails prompt support services and routine maintenance. Preventive maintenance helps avoid possible problems before they become more serious ones.

Breakup by Deployment Mode:

• On-premises
• Cloud-based
   

Cloud-based holds the largest share of the industry

A detailed breakup and analysis of the market based on the deployment mode have also been provided in the report. This includes on-premises and cloud-based. According to the report, cloud-based accounted for the largest market share.

Organizations can readily modify their print management services to meet changing demands because of the unmatched scalability provided by cloud-based MPS systems. This flexibility is especially helpful for companies whose print demands are changing or they are expanding quickly. Print environments can be remotely managed with cloud-based MPS, giving administrators more control and visibility regardless of the print environment's physical location. When considering upfront expenditures, cloud-based solutions are less expensive than traditional on-premises systems. They usually work on a pay-per-use or subscription basis, which can result in more predictable and controllable costs.

Breakup by Organization Size:

• Large Enterprises
• Medium Enterprises
• Small Enterprises
   

Large enterprises represent the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the organization size. This includes large enterprises, medium enterprises, and small enterprises. According to the report, large enterprises represented the largest segment.

Large enterprises require a lot of printing since their departments produce a lot of documents. Large-scale print environments can be effectively managed and optimized with MPS technologies. Due to their substantial print-related costs, major businesses gain from MPS's cost savings. These services result in significant cost savings by lowering waste, improving device usage, and improving consumable management. MPS reduces downtime by offering centralized administration, automatic supply replenishment, and preventive maintenance.

Breakup by Industry Vertical:

• BFSI
• Government
• Healthcare and Education
• Manufacturing
• Retail and Consumer Goods
• IT and Telecom
• Others
   

BFSI exhibits a clear dominance in the market 

A detailed breakup and analysis of the market based on the industry vertical have also been provided in the report. This includes BFSI, government, healthcare and education, manufacturing, retail and consumer goods, IT and telecom, and others. According to the report, BFSI accounted for the largest market share.

The BFSI sector generates a substantial amount of paperwork including contracts, forms, statements, reports, and client communications. MPS helps manage and optimize this high volume of print activity efficiently. Managing printing costs is crucial for financial institutions. MPS solutions help BFSI organizations reduce expenses related to printing, including paper, ink, maintenance, and energy consumption, leading to significant cost savings. The BFSI sector is heavily regulated and requires strict adherence to various compliance standards regarding document handling, storage, and security. MPS providers offer solutions that ensure compliance with various regulations.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific leads the market, accounting for the largest managed print services market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific represents the largest regional market for managed print services.

The rising adoption of cloud MPS solutions in the Asia Pacific region is impelling the market growth. In addition, many countries in the region are experiencing rapid economic growth, leading to an increase in business activities and the expansion of both local and multinational companies. This growth drives the demand for efficient print management solutions to support expanding operations. On 28 November 2023, Japanese imaging and electronics company, Ricoh, partnered with a Belgian three-dimensional (3D) printing firm in a bid to produce 3D models of a patient’s anatomy. This partnership with Ricoh brings a large managed services infrastructure, which will enable hospital systems to more quickly and affordably implement and scale 3D technology for their physicians and patients. 

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the managed print services industry include ARC Document Solutions Inc., Brother Industries Ltd., Canon Inc., HP Inc., Konica Minolta Inc., Lexmark International Inc., Ricoh Company Ltd., Sharp Corporation, Toshiba Corporation, WeP Solutions Ltd, and Xerox Corporation.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• Key players in the market are focusing on enhancing security and maintaining compliance requirements. They are also taking various sustainability initiatives by adopting energy-efficient devices. Furthermore, they are engaging in strategic partnerships and acquisitions to expand their market presence. For instance, on 11 January 2023, Xerox acquired Advanced UK, an Uxbridge, UK-based hardware and managed print services provider, and long-standing Xerox Platinum partner. This acquisition allows Xerox to integrate, continue to strengthen its presence in the UK, and provide continuity to Advanced UK’s customer base. With its impressive capabilities and heritage in production print, Advanced UK already has a strong local client base. 

Managed Print Services Market News:

• 27 March 2023: The University of Massachusetts (UMass) selects Toshiba America Business Solutions its Managed Print Technology Provider. The multi-year agreement enables UMass to advance academic, marketing, financial, eco, and information security goals across the University's statewide Amherst, Boston, Dartmouth, Lowell, Mount Ida and Worcester (UMass Chan Medical School) campuses. Toshiba's cloud-based Encompass™ Managed Print as a Service (MPaaS) platform helps the UMass community print more securely, sustainably, efficiently and affordably while managing the nearly 900 e‑STUDIO™ multifunction printers (MFPs) across the University's six campuses.
• 27 September 2023: Aurora Managed Print Services opened a new office in Newcastle to better serve the North East of England. As well as offering a broad range of managed print services, telecoms, print fleet optimization, document security, eco-friendly printing initiatives, and smart building management, the business supplies production printers from Ricoh, Konica Minolta, and Canon-who sponsored the new office.

Managed Print Services Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the managed print services industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.