Many expected a future of paperless offices, but printing remains a crucial need for almost all businesses. Managed print services are meeting that need quite well and thus continue to grow.

Market Experts Expect Sharp MPS Growth Through 2024

There was a time when even industry experts were forecasting the paperless office as the future, but that future never came to be. Paper usage overall probably did fall, but the manner in which businesses were still printing on-site remained integral to their success. In the meantime, managed print services in Las Vegas and throughout the country were helping companies meet those needs in a more cost-efficient manner.

MPS Market Expected to Expand by 14.8 Percent

A recent industry analysis published by Transparency Market Research indicates that the current industry trend is 14.8-percent growth over eight years. That’s 1.85-percent growth per year, which is phenomenal and a number not deemed particularly aggressive by independent experts. If this forecast comes to pass, that means that the industry will have grown by $94.97 billion.

The Factors Driving Growth

Most modern businesses operate in highly cost-sensitive environments. Managed print services offer cost benefits that reduce operational costs across all printing activities. In addition, these services provide benefits beyond those direct savings. There are indirect savings from streamlined printing workflows, monitoring and control of equipment and so forth.

Growth Through Greater Awareness

There’s also the matter of growth through greater awareness. In the earliest days of print services, mid-sized companies seemed to be the sweet spot. Many large corporations felt they could perform more economically with in-house solutions, and many small businesses deemed managed solutions not practical for them. According to industry statistics, most publicly traded corporations now outsource printing services, and the small business pool is growing by multiple percentage points each year.

Distributed Overhead

There are numerous reasons behind that growing awareness, but perhaps none is more important than the industry’s expanding ability to distribute overhead. By distributing overhead across larger pools, including companies and industries that are quite different, individual costs can be kept quite low.