The managed print services market is expected to grow from USD 28.40 Billion in 2016 to USD 50.78 Billion
by 2023, at a CAGR of 8.51% between 2017 and 2023. The reduced cost of
operation, flexibility to match customer requirements, rising complex
technological solutions, and increasing dependency on heterogeneous networks
are the major factors driving the growth of the managed print services market.
The key players in the managed print services market are increasingly
adopting strategies such as product launches, product developments,
partnerships, contracts, agreements, mergers and acquisitions, collaborations,
and expansions to grow in the managed print services market. According to the
present scenario, major companies in the managed print services market are
investing a lot in R&D. The companies are also partnering with other
companies to offer cost-efficient solutions in printing. In terms of market
leadership, Xerox Corporation (US) is the leader in providing MPS services
worldwide. Xerox Corporation (US), Ricoh Company, Ltd. (Japan), HP Development
Company, L.P. (US), and Canon, Inc. (Japan) provide MPS solutions worldwide.
Xerox Corporation (US) held the first position in the MPS market. Xerox
has built a credible and strong portfolio of services for organizations of all
sizes, enhanced by an expanded range of workflow automation solutions. Xerox
retains a leadership position in the market due to its global scale and
comprehensive MPS portfolio, which encompasses office printing, production
printing, and workflow automation services. Xerox has expanded its security
services through the Xerox Print Security Audit Service and its Secure Print
Manager suite of solutions (both Xerox and partner solutions), which offer
analytics, secure printing, and control and reporting. Xerox has a range of
industry solutions for workflow automation across HR, finance and accounting,
insurance, retail, banking, manufacturing, higher education, and healthcare.
The company is consistently growing through strategic acquisitions and product
launches. For instance, in March 2017, the company launched “Xerox ConnectKey”
to expand business reach for channel partners to find more opportunities to
grow revenue and enter new markets. The company is making continuous
developments in the MPS market.
Ricoh Company (Japan) held the second position in the managed print
services market. The company provides imaging and printing solutions and
industrial products. It is a global market leader with recognized expertise in
the development, manufacture, and application of innovative, cost-effective
printing products, solutions, and services. The company provides MPS services
under its Ricoh Managed Document Services (Ricoh MDS) portfolio. Ricoh MDS
address customers' business challenges and provide consistent, high-quality
services to its customers. The company adopted growth strategies based on joint
ventures, partnerships, and product launches. For example, Ricoh acquired
Avanti Computer Systems (Canada), a leader in providing print MIS (management
information system). This acquisition will help Ricoh expand its print workflow
and improve management efficiency and overall productivity.
About
MarketsandMarkets™
MarketsandMarkets™
provides quantified B2B research on 30,000 high growth niche
opportunities/threats which will impact 70% to 80% of worldwide companies’
revenues. Currently servicing 7500 customers worldwide including 80% of global
Fortune 1000 companies as clients. Almost 75,000 top officers across eight
industries worldwide approach MarketsandMarkets™ for their painpoints around
revenues decisions.
Our
850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high
growth markets following the “Growth Engagement Model – GEM”. The GEM aims at
proactive collaboration with the clients to identify new opportunities,
identify most important customers, write “Attack, avoid and defend” strategies,
identify sources of incremental revenues for both the company and its
competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants
(Positioning top players across leaders, emerging companies, innovators,
strategic players) annually in high growth emerging segments.
MarketsandMarkets™ is determined to benefit more than 10,000 companies this
year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research ahead of
the curve.
MarketsandMarkets’s
flagship competitive intelligence and market research platform,
“Knowledgestore” connects over 200,000 markets and entire value chains for deeper
understanding of the unmet insights along with market sizing and forecasts of
niche markets.
Contact:
Mr.
Sanjay Gupta
MarketsandMarkets™
INC.
630
Dundee Road
Suite
430
Northbrook,
IL 60062
USA:
1-888-600-6441
newsletter@marketsandmarkets.com