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A new report by MarketsandMarkets explores the Managed Print Services market by deployment mode, channel type, application, organization size, and geography with a Global forecast to 2023.

The report “Managed Print Services Market by Deployment Mode (On Premise, Cloud based, and Hybrid), Channel Type (Printer/Copier Manufacturers, System Integrators/Resellers, and ISVs), Application, Organization Size, and Geography – Global Forecast to 2023”, published by MarketsandMarkets says that the market was valued at $28.40 billion (€24.15 billion) in 2016 and is expected to reach $50.78 billion (€43.21 billion) by 2023, at a CAGR of 8.51 percent between 2016 and 2023.

The reduced cost of operation and flexibility to match custom requirements, rising complex technological solutions, and increasing dependency on heterogeneous networks, steep increase in the adoption of big data solutions, organizational initiatives to reduce paper wastage, and competent technical support by MPS providers are some of the significant drivers for the growth of this market.

According to the report, cloud-based deployment is expected to hold the largest share of this market between 2017 and 2023. The deployment modes include on-premise, cloud-based, and hybrid deployment. Cloud-based deployment has the largest share of the overall market owing to its extensive benefits in Managed Print Services (MPS). MPS is replacing the traditional IT model to manage increasing requirements, and businesses are looking toward MPS for cost efficiency and effective benefits. Cloud-based deployment holds the maximum market share as it offers businesses to remotely access their documents and data on the cloud.

Also expected to hold the largest share of the Managed Print Services market between 2017 and 2023 are large enterprises. Large enterprises mainly focus on managing their operations and processes rather than being diverted by any threat, attack, malware, or spams, and any other such vulnerabilities. Due to this reason, the demand for MPS is more in such organizations and is increasing day by day.

The report shows that MPS has been growing in industry applications such as banking, financial services and insurance (BFSI), government and healthcare. BFSI applications held the largest market share of the MPS market worldwide. BFSI involves heavy dependency on paperwork for record-keeping. The MPS market is expected to get more market share because of security requirements for sensitive data in the BFSI industry. These applications use MPS to optimize the efficiency of resources and operational practices in use.

Also featured in the report is that North America held the largest share of Managed Print Services market in 2016. The North American market has many rising start-ups and favourable compliance and government regulations. The enterprises in this region have a rapid growth rate and a heavy demand for managed print services. Because of favourable government regulations, European companies are also investing in the North American market.

According to research by International Data Corporation (IDC), the Western European printer and multifunction (MFP) market grew in unit terms in the second quarter of 2017.
According to research by International Data Corporation (IDC), the Western European printer and multifunction (MFP) market grew by 3.8 percent in unit terms in 2Q17 compared with the same period a year ago.
There were positive sales performances in both inkjet and laser markets for units, but value for the laser market was actually down. The overall market has been in continuous decline since 2Q15 — and in 2Q17 the quarter increased by 173,000 units to give a market of almost 4.7 million devices. This stellar quarter is due to the surprising growth in consumer printing but is relatively in line with forecasts. Revenues on the other hand, declined by 5.6 percent. Inkjet revenues, however, increased 1.5 percent while laser revenues fell by 6.9 percent.
Laser market shipments increased by 4.7 percent in 2Q17, but values decreased, indicating that prices are getting lower: a sharp contrast from the positive trend observed last year. Active Server Pages for the laser market decreased by 11 percent in 2Q17.
Business inkjet shipments suffered another decline, a persisting negative trend for the past four quarters with shipments falling by 5.9 percent in 2Q17. MFP products declined by 5.1 percent in volume but grew by 9.7 percent in value. This is due to an increase in the average selling price of 73 percent for A3 MFPs; the A4 format represents 75.1 percent of business inkjet MFPs. Despite this, business inkjet MFPs accounted for 89.8 percent of business inkjet shipments in 2Q17, a 0.7 percent increase from last year.
Overall, MFP products accounted for 80.7 percent of all shipments in Western Europe in 2Q17, lower than the 81.4 percent in 2Q16. Laser and inkjet MFPs increased by 2.9 percent, while laser and inkjet printers showed an even stronger performance with a 7.9 percent increase, with shipments generally in line with IDC forecasts.
There was small growth in the business market in 2Q17; the market, comprising laser and business inkjet devices, increased by 1.6 percent, but the value decreased by 6 percent. The highest value growth was in 1-20ppm colour devices and 151+ ppm mono devices, a positive trend that has been seen for more than a year now.
“We have seen poor results in the printing devices market for quite some time, but today we can reveal that the Western European market has grown by 3.6 percent globally with positive results for both inkjet and laser segments,” said Delphine Carnet, senior research analyst in IDC’s Western European Imaging, Hardware Devices, and Document Solutions group. “Leading countries such as Germany and the U.K. are showing double-digit increases. However, we have observed a 6.9 percent decline in laser revenues, which leads us to believe that businesses are feeling the pinch and looking for value for money.”

The OEM’s US subsidiary released two new A3 MFPs under its monochrome A3 line.

Industry Analysts reported on the release, with the OEM’s new series said to feature “state-of-the-art technology for a smarter office experience” and developed in response to “the latest market trends and client needs in the area of office printing”. The “refreshed” machines include the bizhub 458 and 558 MFPs, which replace the “successful” bizhub 454e and 554e series, and the new printers feature “premium high security” functionality.

The devices also offer “even more functionality while being highly reliable and productive”, with “strong features for the office environments that have medium-volume printing needs but don’t require colour output”. Features include Konica Minolta’s INFO-Palette design control panel, which is nine inches in size and features “touch-and-swipe functionality” and a web browser alongside “a wide variety of apps” from the OEM’s bizhub MarketPlace.

The MFPs’ “secure data encryption” includes bizhub SECURE safeguards that ensure documents “have uncompromising security protection”, while specific authentications include “ID card” and “biometric”. The devices also feature “expanded sustainability” including a “reduction in energy consumption” through a “charged roller that control the amount of toner supply”, and “use of recycled materials” in manufacturing alongside ENERGY STAR and EPEAT certifications.

Finally, the printers have “improved usability, flexibility and customisation”, while mobile printing is supported via Apple AirPrint, Google Cloud Print and near-field communication (NFC), and Wi-Fi is “optional”. The two printers are available now in the US market from Konica Minolta’s “direct and channel partners”.

Dino Pagliarello, Vice President of Product Management and Planning at Konica Minolta, commented: “This user-friendly series meets the needs of our customers in various work environments making it an ideal solution. These updated models offer connected and mobile features which play into our ‘work from anywhere, anytime’ credo.”