The MPS market will grow in the next 6 years

October 10, 2022

The expected CAGR for MPS market is 15.2% in the period, with the years 2026, 2027, and 2028 obtaining results above the average.

Managed Print Services (MPS) will continue to grow in the next six years, according to Coherent Market Insights. Based on data from 2021, the market size was about $1.8 billion in 2021 and should achieve 4.7 billion in 2028. In North America, the CAGR is 14.7%, but it remains the essential global market with 35.8% of the market share. 

The CAGR expected is 15.2%, with values above the average in 2026, 2027, and 2028. That result shows that the sector should expand more when approaching the end of the period.The research offers strategic recommendations based on industry experts’ consultations on market development, consumer demand, sales patterns, revenue forecasts, gross margins, and regional growth. 

According to the study, four main aspects should outstand: 

– Growing demand – Companies are interested in reducing their print costs and amplifying their performances, which results in a most attractive service. Besides, it is simpler to control and manage the print environment following the same standards. That also helps in an energy efficiency strategy. 

– Waste reduction – Print-on-demand is one of the main possibilities of the sector, especially the attempt to minimize waste of paper and supplies. The estimation is that a company generates approximately 7.5 tons of RESIDUES in a year. The paper represents 40% of the total. An MPS service can help companies with this job. 

– Fewer restrictions – There are several barriers to the mass adoption of MPS services due to installation and maintenance costs and to creating an internal print culture. The cloud helps companies, simplifying the routine and allowing a most educative approach to the features and the service. 

– Employees’ ability – Another difficulty is the lack of capacity from users to make the best use of the solution. In most cases, MPS should develop training sessions to show employees the necessary features. 

– Data – The use of data is already a reality for many companies since the decision process is realized based on this information. Big Data should outstand in the future, simplifying automation. 

Cloud dominance 

Cloud will improve its dominance in the future MPS market, according to research. In 2021, cloud implementations represented 70.5%, versus 29.5 from on-premise. In 2028, the cloud will achieve almost three-quarters of the total: 73.3%. 

The technology offers facility, agility, and safety for the print provider and their clients. The relationship between them starts smoothly with the cloud, since there is no need to install it on clients’ machines or other technical necessities. 

Another point of view is the ability to escalate services according to the demand – something that is common in cloud services known as Software as a Service (SaaS). In what concerns to vulnerabilities, many of the flaws of the service happen due to the lack of investment of companies, which does not occur in the MPS, since they offer services for several companies. 

That is the reason the study expects that small and medium size company invest more in MPS solutions. In 2021, the market share was 66.1% of big companies, versus 33.9% of medium and small enterprises. In 2028, that index will be 63% against 37%. The difference represents investments of $1 billion for SME companies, creating new opportunities for providers. 

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