Managed Print Services Market to Reach $59.70 Bn, Globally, by 2025 at 10.3% CAGR: Allied Market Research
Enhanced information security, reduced operational cost, initiatives to lower wastage of plastic at workplaces, and increase in adoption of big data solutions facilitate the growth in the global managed print services market.
PORTLAND, Oregon, April 3, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Managed Print Services Market by Type (Print Management, Device Management, Discovery and Design, and Document Imaging), Deployment Mode (Hybrid Cloud and On-Premise), Organization Size (Large Enterprises, Medium Enterprises, and Small Enterprises), Industry Vertical (BFSI, Government, Healthcare, Education, Industrial Manufacturing, Retail, Food & Beverages, IT & Telecom, and Others): Global Opportunity Analysis and Industry Forecast, 2018–2025." The report provides a comprehensive analysis of top investment pockets, drivers & opportunities, major segments, value chain, and competitive scenario. According to the report, the global managed print services market garnered $27.50 billion in 2017, and is expected to reach $59.70 billionby 2025, registering a CAGR of 10.3% from 2018 to 2025.
Enhanced information security, reduced operational cost, initiatives to lower wastage of plastic at workplaces, and increase in adoption of big data solutions facilitate the growth in the market. However, recurring costs and strategic agreements and partnerships restrain the market growth. On the other hand, surge in print security spending and rise in adoption of cloud MPS create new opportunities in the market.
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Device management segment to continue its dominating position by 2025
Based on type, the device management segment held the major market share in 2017, contributing for nearly more than one-third of the total market share and is expected to continue its dominating position throughout during the forecast period. This is due to rise in adoption of these solutions for enhancing the network performance for printing devices, optimizing the efficiency, and control of costs. However, document imaging market is expected to grow at the largest CAGR of 13.4% from 2018 to 2025, owing to increase in demand for big data management and analytics in organizations.
Hybrid cloud segment to be lucrative
Based on deployment mode, the hybrid cloud segment contributed nearly three-fifths of the total share in 2017 and is expected to maintain its lead position throughout the forecast period. This segment is expected to grow at a CAGR of 11.5% from 2018 to 2025. It is a lucrative segment, owing to demand for cloud-based MPS to lower the cost of printing and shift towards novel solutions to support mobility, improve security, and make efficient business workflows. The research also analyzes the on-premise deployment model.
North America to maintain its dominant share throughout the forecast period
North America contributed more than two-fifth of the total share in 2017 and is projected to maintain its dominant share throughout the forecast period. This is due to the presence of leading manufacturers, supportive government regulations, and increase in number of startups in this region. However, Asia-Pacific is expected to register the highest CAGR of 14.0% from 2018 to 2025, owing to surge in retail & consumer goods startups in nations such as China, India, and Japan.
Frontrunners of the industry
Leading market players analyzed in the research include Xerox, HP Inc., Toshiba, Lexmark International, Inc., Ricoh Company, Ltd., Canon Inc., Konica Minolta, Inc., Sharp Electronics, Kyocera Document Solutions, and ARC Document Solutions.
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Executives across the globe are concerned about data security as this is directly linked to their brand reputation. Increasing rate of cybercrime activities, growing adoption of mobile devices to access corporate network, and rising importance of e-business have led to the development of effective security infrastructure with managed security services.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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