Market analysis
 With the increasing use of cloud, e-commerce, telemedicine, and digital transformation in recent years,

the future of managed printing services (MSP) has become increasingly uncertain.

Because of the prevalence of concepts such as the reduction of manual processes, the reduction of paper use,

and the promotion of green environmental protection, people are more inclined to conduct business offices at long distances and with minimal contact.

This is fully reflected during the resumption of work during the epidemic. All these seem to indicate that the demand for printing services in the market is decreasing.

However, analysts came to the opposite conclusion based on market research.

A report released by Technavio in March 2021 shows that by 2025, the managed printing service market will grow to 6.28 billion,

with a compound annual growth rate of 5% in the next five years, and forecasts that it will grow by 4.12% in 2021 alone. .

The report also includes some good news for management service providers (MSP) in the United States and Canada.

At the same time, it is expected that North America will have a 40% growth.

Changes in market demand for managed printing services

Overall, the reported growth is due to the trend of getting rid of the cost of hardware and consumables, similar to the factors driving the full adoption of “fragmented service” products.

At the same time, Technavio pointed out that printing services adopted by banks, financial services and insurance (BFSI) will be the factors leading the growth of this market.

In these companies, printing documents is still an indispensable part of many processes, and printing services shift the burden of managing the large-scale placement of printers,

copiers, scanners, and fax machines from internal employees to service providers.

Suppliers that provide managed printing services also need to overcome some additional difficulties, that is,

with the growth of business needs and the growth of the IT environment, the installation workload of printers and other equipment required for file

management will usually increase significantly.

However, with the implementation of new hardware and the purchase of consumables, companies and enterprises do not always cooperate with the same supplier,

which makes maintenance and ordering services and costs more complicated and expensive than before. Conversely,

if the managed print placement work can be standardized and streamlined, it can save time and money for enterprises and managed service providers. In addition,

managed printers can be used to remotely detect the status of use. If the supply of consumables is insufficient, the supplier can replenish it in time,

so there is basically no window period for the supplier in the supply chain.

Supplier’s customers or potential customers now need to manage printing services, and may also need to manage IT, security, or other types of management services.

Moreover, when their enterprise development continues to move towards cloud computing, e-commerce and remote interaction, or when there is a decision to promote other forms

of digital transformation, their demand for printing services will become more urgent.

In the future, the product level difference may not be too great, and the factors that dominate the survival of suppliers will be concentrated on the service level.

Establishing a benign and appropriately scaled closed-loop service will enable enterprises to occupy a high ground in future competition.

Source: ZOL, Sohu.com, Shanghai Longpin Xiyin Exhibition Co., Ltd.; “Printing Times” new media has always paid attention to the protection of the author’s copyright, if it involves infringement, please contact us to delete.

Cr.Dylan、Nathan,Rechina