The Managed printing services market is the new hot area for traditional printer vendors who have of late seen a great slump in the printer market globally. Sales for most of the printer categories have been in negative, except for laser printers. To address the challenge, the industry has indenfied a new business model to increase revenue.
According to estimates, the managed printing services market accounts for $30 billion globally which is growing very rapidly. In India, there is demand for the managed print services to customers wanting to spend only on usages rather than owning and managing large printers for their printing needs. HP has huge plans to go about the MPS in India as it sees the market expand. Similarly Canon has resorted to strategies that lead it to revenue growth out of the MPS market in India.
Since the market is getting intense day by day, a number of other players such as Ricoh, Konica, Panasonic, Xerox and others have jumped in the fray and are trying to capitalize on the market. Ricoh has gained momentum with strong presence in many verticals.
As companies look at outsourcing printing management, companies like HP and Canon among others move to an opex model.
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