The Growing Importance of Managed Print Services (MPS) for Businesses

As businesses continue to optimize their operations and reduce costs, Managed Print Services (MPS) are becoming an increasingly valuable solution. The MPS market is not only expanding but also evolving, with businesses recognizing the benefits of streamlining their printing needs through expert management and cutting-edge technology. According to research published by Market Growth Reports, the MPS market is currently valued at $37.98 billion in 2024 and is expected to reach $58.78 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.3%. In this blog, we’ll explore the reasons behind this growth, the advantages of MPS for businesses, and why now is the time to consider integrating MPS into your operations.

 

Understanding Managed Print Services (MPS)

Managed Print Services involve the outsourcing of a company’s printing needs to a third-party provider that manages all aspects of the print environment, from hardware and supplies to maintenance and security. This service model allows businesses to optimize their printing processes, reduce costs, and improve efficiency by leveraging the expertise of specialized providers.

 

Key Components of MPS

• Assessment and Analysis: MPS providers begin by assessing a company’s current print environment, identifying inefficiencies, and analyzing usage patterns to develop a tailored solution.
• Fleet Management: MPS involves the management of all printing devices, including printers, copiers, and multifunction devices. This includes monitoring usage, managing supplies, and ensuring that all devices are functioning optimally.
• Cost Control: By consolidating and managing print operations, MPS providers help businesses reduce waste, lower energy consumption, and minimize unnecessary print volumes, leading to significant cost savings.
• Security and Compliance: MPS providers ensure that all printing processes are secure and compliant with industry regulations, protecting sensitive information and reducing the risk of data breaches.

 

Why the MPS Market Is Growing

The growth of the Managed Print Services market can be attributed to several factors that are driving businesses to adopt MPS as a core component of their operations.

 

1. Cost Efficiency

One of the primary reasons businesses are turning to MPS is the potential for cost savings. By outsourcing print management, companies can reduce the total cost of ownership (TCO) of their print infrastructure. MPS providers help identify and eliminate hidden costs associated with printing, such as excessive energy consumption, overstocking of supplies, and the underutilization of devices.

• Streamlined Processes: MPS providers streamline print operations, allowing businesses to focus on their core activities rather than managing complex print environments.
• Predictable Expenses: With MPS, businesses can better predict their printing costs, as they often pay a fixed monthly fee that covers all services, supplies, and maintenance.

 

2. Focus on Sustainability

Sustainability has become a key priority for businesses across industries, and MPS plays a significant role in helping companies achieve their environmental goals. MPS providers implement strategies to reduce paper waste, lower energy consumption, and minimize the carbon footprint of printing activities.

• Paper Reduction: MPS programs often include digital workflows and document management solutions that reduce the need for physical printing, leading to less paper waste.
• Energy Efficiency: By optimizing the use of printing devices and promoting energy-saving practices, MPS providers help businesses lower their overall energy consumption.

 

3. Enhanced Security

With increasing concerns about data security, businesses are recognizing the importance of securing their print environments. MPS providers offer advanced security measures, such as secure print release, user authentication, and data encryption, to protect sensitive information and ensure compliance with industry regulations.

• Compliance: MPS providers help businesses adhere to regulations such as GDPR and HIPAA by ensuring that all print processes are secure and compliant.
• Risk Mitigation: By securing the print environment, MPS reduces the risk of data breaches and unauthorized access to sensitive documents.

 

4. Digital Transformation and Workflow Optimization

The ongoing digital transformation in the business world has also contributed to the growth of the MPS market. As companies move towards digitization, MPS providers offer solutions that integrate seamlessly with digital workflows, improving efficiency and reducing the reliance on paper-based processes.

• Integration with Cloud Services: MPS providers offer solutions that integrate with cloud-based document management systems, enabling remote access and collaboration.
• Automation: MPS providers implement automated workflows that streamline document handling, reduce manual intervention, and increase overall productivity.

 

The Future of MPS in Business

As the Managed Print Services market continues to grow, businesses are increasingly viewing MPS as a strategic component of their operations. The ability to reduce costs, enhance security, support sustainability initiatives, and integrate with digital workflows makes MPS an attractive option for companies of all sizes.

Novatech remains at the forefront of the latest trends in Managed Print Services, offering expert solutions that align with your business needs. To learn more about how MPS can optimize your printing operations and contribute to your business goals, please reach out to Novatech. We provide educational materials and offer a no-cost, no-obligation consultation to discuss how MPS can benefit your organization.

Embrace the future of print management with Novatech. Contact us today to discover how our Managed Print Services can elevate your business operations.