Business & Marketing

Efficiency, Sustainability, and Reduced Expenses allow Managed Print Services Market to Grow

Managed print services are a key part of the corporate sector in the modern world due to the growing need for printing documents and other paper-based material for promotion and other applications. Traditionally, printing services have been handled by companies simply purchasing printers according to their need and managing them on their own.

In the days of mostly local operations, the use of an office-based printer was usually enough to handle the needs of corporate entities. However, in the increasingly global world of today, managed printing services have become a vital need for corporate entities in almost every sector, as even in the day and age of digital publishing and marketing, legacy printing services remain in demand due to the unique appeal and long-entrenched dependence on paper documents. This has been the major driver for the global managed print services market over the last few years.

What are the Benefits of Managed Print Services?

Managed print services offer a number of key benefits in comparison to traditional printing systems due to the services being exported to a third party. Some of the salient benefits of managed print services are as follows:

# Increased Efficiency, Decreased Costs

Using printer units installed in office buildings may have been sufficient in legacy systems, but it still presented problems regarding the maintenance and infrastructure needed to run the printers in top condition. Since the average corporate staff could hardly be considered to be experts on running printers, this gave rise to the need for separate maintenance services and management of the purchasing requirements for keeping the printer going. 

What allows Managed Print Services Market to Grow

Outsourcing printing services altogether eliminates all these hassles, as all the services regarding printing are handled at one point. The use of dedicated expertise in managing printers and printing operations presents an obvious benefit over relying on inhouse expertise, which can be unreliable. This is one of the major benefits of managed print services.

Also read: Things you must consider before buying All-In-One Printer

While managed print service suites can be expensive at first, over the long run, managed print services present significant benefits in terms of cost saving and maximizing the utilization of the human capital of the company. Thus, the major benefits of managed print services include cost optimization and efficiency boost.

# Information Security

Data security has become probably the most vital aspect of any corporate operation in recent years, as the connection to the wider Internet through various means of data generation means that any transaction made online is a potential threat to the integrity of the user’s overall online presence. Using a shared printer in an office space has emerged as a major threat to the data security of the organization, as anyone can access the service and release malware, potentially harming any of the organization’s assets.

In contrast, managed print service providers have focused on data security as a major USP for their managed printing service suites, making printing risk-free. The increasing competition within the managed printing services sector is likely to further drive the demand for effective data security mechanisms among the providers, making this one of the most important benefits of managed print services.

# Less Waste, More Environmental Viability

Paper, toner, and ink may not sound like the most environmentally harmful materials, but when you add up the impact of a global corporate sector, with each company making minor allowances in terms of efficiency in the use of printing materials, the sum adds up to a considerable amount. This is harmful not only for the company, as considerable sums can be invested in printing services only to become waste, but also for the environment, as printing materials are highly chemical-intensive and can cause considerable ecological damage if released into the environment.

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This risk is also kept in check by the use of managed print services, as very little material is wasted and even paper that would otherwise be binned is recycled, making managed print services more efficient as well as more environmentally viable.

The Figures:

The global managed print services market is expected to rise to a valuation of USD 51 billion by 2023, at a CAGR of 9%, according to Market Research Future (MRFR).

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Alexandra Warner

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