- A recent report shows that cloud computing could eliminate a billion metric tons of CO2 emissions by the end of 2024.
- Advanced technologies are gaining popularity, pushing the global printer market to grow from $10.71 billion in 2022 to $11.37 billion in 2023.
Image: Handout
The push for the adoption of sustainable business operations has led companies to device newer ways to remain competitive in their operations.
Unlike a few years ago where companies could entirely rely on selling products and their components to sustain operations, changing regulations such as those on e-waste management are rapidly tilting the scale.
One such revolution has been witnessed in the printers manufacturing space.
In an era marked by growing environmental consciousness, printing firms are rolling out greener solutions like the Printing as a Service (PaaS) that also help customers cut operational costs.
Epson is now giving clients at option where instead of investing in expensive printers, copiers, and related equipment, businesses can opt for PaaS, which often provides access to high-quality equipment without the upfront capital costs.
This PaaS service by Epson eliminates the need for purchasing, maintaining, and replacing hardware as the cost is bone by the service provider.
The model typically operates on a subscription or pay-per-use model, making it easier for businesses to budget and plan for printing expenses.
This eliminates the unexpected repair or maintenance costs because these services are usually included in the subscription fee.
PaaS often includes centralized management tools that allow administrators to track and control printing activities across the organization. This centralized control can lead to better cost management.
Studies by Consultancy Firm McKingsley show that with the right printing technologies, companies can cut carbon emissions by over 80 percent and almost 45 per cent of printing costs.
The latest report by the International Data Corporation (IDC) estimates that cloud computing could eliminate a billion metric tons of CO2 emissions by the end of 2024.
Major players operating in the printing industry like Epson are having to re-focus on developing advanced technology solutions like printing as a service that enables organisations to cut on operating costs through outsourcing of printing services
The firm says that with organisations increasingly adopting paperless operations, purchasing printers is emerging as an additional cost to businesses.
“With the market trends shifting from selling devices to selling services, resellers are looking for tools that ensure they retain the long-term relationship with their end users while also receiving the full value of that relationship,'' the firm says about Cornerstone in a product review.
This program assists resellers in establishing enduring relationships with their customers, capturing the complete end-user system revenue and margin while concurrently reducing the overall cost for IT VARs (Value-Added Resellers) to serve their clientele.
Overdrive Consultants Kenya director Keval Devani says that at first they were skeptical about switching to a service model, but after adopting Epson everything changed.
“The efficiency gains are incredible, and the cost savings have exceeded our expectations. Our printers are now dependable assets, contributing to our success. In the past, we calculated ROI on printer purchases, now we just pay for what we print,” said Devani.
In Print as a Service (PaaS), Epson says it involves developing cloud-based platforms that enable seamless integration of printing services into various applications and workflows.
This essentially means multiple organisations can independently use a single printer for all their needs.
Epson’s prowess in Cloud Computing has resulted in cloud-enabled printing services that offer flexibility and scalability for businesses of all sizes.
Through deeper engagement in Managed Print Services (MPS), collaborations with partners such as Epson can lead to additional cost savings, particularly for industries reliant on extensive document usage.
Studies by UK firm Good Law Software, in their paper The Relationship Between Legal Technology & Profitability, suggest that sectors such as law firms could reduce print expenses by up to 41 percent through proper managed services, while financial institutions and healthcare organizations might achieve savings of 33 percent and 27 percent respectively.
“PAAS embodies reliability. With their proactive maintenance and support, we've experienced minimal disruptions to our workflow. The reduced operational costs have been a welcome bonus, boosting our bottom line. The inks are large and need changing only after printing 50+ reams and we have noted consistency in print quality and speed,” added Devani.
Studies show that the industry is one of the hardest hit by the changing business landscape, that has pushed industry players to the edge as they fight to remain relevant.
High operating costs of the printer are a key factor that hinders the growth of the printer market.
Even so, advancing technologies are gaining popularity, pushing the global printer market to grow from $10.71 billion in 2022 to $11.37 billion in 2023 at a compound annual growth rate (CAGR) of 6.1 percent.
“The streamlined experience, coupled with the cost-saving benefits, has allowed us to reallocate resources towards innovation and growth. The wastage and unauthorized printing has been cut back thanks to all the user-based configurations and limits we were able to enable per department,” added Devani
The report by Gartner shows shipments in the Middle East & Africa region were up by 32 per cent compared to Q1 2022 but were down by 17.6 per cent compared to Q4 2022
The report valued the global commercial printing market size/share at $466.64 billion in 2021 and is expected to reach $574.12 billion by 2030, growing at a CAGR of 2.4 per cent during the forecast period.
This is attributed to the fact that it is used by businesses to strengthen communication, drive sales and build brand awareness.