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Managed Print Services (MPS) Market Size | Industry Report 2018-2023

Managed Print Services Market Size, Growth, Trend and Forecast to 2023 | MarketsandMarkets

United States, 7 February 2019 -- [165 Pages] Managed Print Services Market Research Report, identifies new revenue opportunity in Managed Print Services industry. The report aims at estimating the market size and future growth of the Managed Print Services based on offering, process, application, vertical, and region.

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.

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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.

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

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Submitted by stevestark002 on Thursday, 7 February 2019 at 7:01 PM
Category: Consumer Technology
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