A report released yesterday on CNBC indicates the Managed Print Services market is expected to grow at a compound annual growth rate of 10.1% over the period of 2015-2019.
The factors driving this growth are:
- Eco-friendly print solutions and carbon footprint awareness
- Total Cost of Ownership (TCO)
- Increasing need for document security
Here is the press release from Reserch and Markets:
MPS or Managed print services is a professional service offered by third-party service providers to help organizations attain a cost-effective and well-managed imaging and printing environment. MPS is an efficient way to manage and optimize the document output devices and other related businesses. MPS involves monitoring, regulating and improving the printing sub-structure of an organization. MPS is facilitated by some of the key software that includes offerings such as print management software, device management software, design and development software and scan routing software.
Increased usage of eco-friendly printing solutions is one of the major trends driving the growth of the market. Increased awareness about the harmful effects of carbon footprints and benefits associated with the use of paperless printing are influencing organizations to adopt these printing solutions. MPS helps reduce carbon footprints as well as total cost of ownership. Small and medium businesses and large corporations are increasingly investing in green print software.
According to the report, increased need for document security is driving the growth of the Global MPS market. Some of the major security breaches include the risks of unclaimed printed output and potential data leaks through unauthorized access to printed documents that contain confidential information about the company. MPS helps organizations support and maintain secure assessments and printing environments as an integral part of the service to reduce the probability of data breaches.