Managed Print Services Market Growing Demand, Top Companies, Regional Outlook Up To 2028

 

Managed Print Services Market

Managed Print Services (MPS) is a type of outsourcing where the business that is providing the service assumes complete responsibility for managing the print environment of the client firm. Reduced printing costs and wasteful spending are the main objectives of this service. The benefits of managed print services include flexibility, higher productivity, sustainability, and cost savings, which contribute to a rise in demand for managed print services. The government's strict rules and regulations to conserve paper, cut waste, and lower operating costs are also a factor in the expansion of the MPS industry. In the United States, for instance, the Paperwork Reduction Act of 1980 is a law that aims to reduce the amount of paper used by individuals, businesses, and government agencies.

Growing public awareness of the environmental advantages of using MPS is one of the main factors driving the growth of the worldwide Managed Print Services Market. Due to lessening the volume of digital waste, less specialised printing hardware is required. As e-waste is already becoming into a big issue due to the expanding consumer electronics industry, this is a key advantage for the managed print services market. According to Coherent Market Insights' analysis, for instance, the amount of e-waste produced globally in 2016 was estimated to have been around 44.7 million metric tonnes, an increase of 3.3 metric tonnes from 2014.

The threat of cybercrime has increased, and this has become a major factor in the expansion of the worldwide Managed Print Service Market. For instance, according to Coherent Market Insights' data, cybercrime climbed to 84.1% of all crimes in July 2017 from 68.8%. Cyber warfare increased from 9.4% to 4.3%, while cyber espionage declined from 15.6% in June to 10.1%. Important data is being protected from cyberattacks by a number of the main international organisations, including the World Health Organization (WHO), the World Trade Organizations (WTO), and different businesses. As a result, growing data security concerns are anticipated to be another element in the Managed Print Services market's growth.

End-User Industries-

·        BFSI

·        Government

·        Education

·        HealthCare

·        Telecommunication & IT

·        Manufacturing

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