Managed Print Services - Organizations driving business value by adopting MPS

The Managed Print Services market is still in the nascent stage of adoption in the Indian market and hence there is a vast untapped opportunity for the market to expand with many Indian enterprises yet to embrace these technologies. It is seen as an important driver for ushering the Digital India initiative. Xerox continues to maintain the leadership position in the global managed print services (MPS), according to the latest market landscape report by the analyst research group Quocirca.

A large number of firms globally are now considering MPS to cut operational expenditures, both to reduce the printing activities of employees and to achieve a more seamless workflow within the organization.
 

Key Takeaways: While cost will always be the primary reason for adopting a managed print service, organizations are relooking to achieve more than just cost savings to drive business value; security remains top of the agenda. The need for secure print solutions and services remains at the top for CIOs, given the fact that 61 per cent of organizations reported at least a single print-related data breach in the past year. It is expected to reach US$94.97 billion in revenue by 2024, rising from US$26.18 billion in 2015. The market is estimated to expand at a CAGR of 14.8 per cent during the forecast period 2016 to 2024.

Key Vendors: HP, Xerox, Canon, Ricoh and others including HCL, Konica Minolta, Kyocera, WeP.