Managed Print Services Market Intelligence

Industry Outlook & Drivers

Global Market Outlook on Managed Print Services

• MPSs [CAGR (2015–2024) – 14 percent] and managed document services [CAGR (2015–2024) – 8 percent] have witnessed increasing adoption by large enterprises, due to enhanced process efficiency offered by these models
• Cloud printing, mobile printing [CAGR (2012–2018) – 55 percent] and other technology advancements, such as pull printing drive the printer market globally
• Increasing green initiatives to reduce carbon foot print and paper usage for print has reduced the print volume across enterprises
• MPSs are expected to grow to an accounted value of $80 billion from $25 billion during 2015–2024

Printer Market Drivers and Constraints

Drivers

• Secured Printing (pull printing) – eliminates data leaks by restricting unauthorized printer access
• Consumerization of IT and mobility (secure printing through smartphones and tablets)
• Environmental drivers – reduction in carbon foot print, reduced power usage through Multi-Function Devices (MFDs)
• Business process improvement – print process integration and optimization
• Technology advancements – shorter lead time to print, duplex printing, pull printing, print on-demand

Constraints

• Increasing penetration of digital media that reduces usage of printers
• Growing awareness on reducing print/save trees
• Decrease in number of devices per employee in an enterprise

Printer Market Shifts

• MPS is moving towards Managed Document Services (MDS), which enables print process optimization and manages the entire document lifecycle
• Managed document services digitizes the document distribution, thereby reducing the print volume
• There is a shift towards cloud printing, due to high adoption of mobile devices and availability of cloud solutions to support them
• Cloud printing enables mobile employees to manage their print requirements efficiently by reducing lead time for print. These devices are capable to scan and store documents in cloud enabling document collaboration
• With increased enterprise BYOD adoption, enhanced application security features and access control, mobile printing has gained importance among enterprises to access and print documents on the move
• There is a shift in the global printer market from black and white print impressions to color print impressions and traditional printers to ultra-high volume inkjet printers
• This has resulted in increase in demand for high-speed continuous-feed inkjet printers, and in turn, has boosted the growth of the overall printer market