Managed Print Services Now Worth Over $20 Billion
Doc is a big fan of market research, and I love billion-dollar markets especially. So just how big is the North American Managed Print Services (MPS) market? For the answer, I looked to our friends at the Photizo Group, keepers of all data MPS related.
The North American Managed Print Services market continues to grow at a remarkable 27 percent compounded annual growth rate (CAGR), according to research from Photizo. The study, "2009 North America Managed Print Services Summary Report," looks at market size, share and forecast analysis for North America. This report is based upon the extensive "MPS Market Size, Share, and Forecast Service Report" which the Photizo Group produces annually.
North America is the most mature MPS market, with a history of over ten years of MPS engagements and 50 percent of the total global MPS market in 2008. The Photizo study found that Canada is the fastest growing segment in North America, with a CAGR of 39 percent. The report provides a reliable view into how quickly the market will grow and the factors driving that growth. According to the Photizo Group, the most significant growth factors during the next two years will be evolution of distribution channels, continued focus on cost savings, and aggressive vendor programs.
The MPS market in general is experiencing astounding growth, having gone from $9.5B (USD) globally in 2006, to $20.3B in 2009. By 2013, the market will be $59.7B in revenues, which accounts for over 50 percent of the total distributed imaging business market.
"Companies of all sizes can benefit from the tremendous MPS opportunity, but the key to success is access to the most accurate, current information available about this dynamic, fast-growing market," said Ed Crowley, CEO and Senior Partner of the Photizo Group.
The "2009 MPS Report" documents emerging market share positions of top MPS vendors in North America. Readers will also find analysis of key market size metrics and the outlook for future market growth rates. There is a fee for downloading the full report, but you can view the press release for free.