Print Management Software market Growth 2020, Trends & Global Industry Analysis

Posted by ReportCrux Market Research on February 10th, 2021

ReportCrux Market Research has published a Latest report titled Print Management Software Market by Organization Size (Large Enterprises and SMEs); By Software Type (Embedded Software and Stand-alone Software); By End User (Healthcare, Media and Entertainment, BFSI, Retail, IT and Telecommunications and Other End Users) and by Region: Global Industry Trends, Dynamics, Competitive Insights and Forecast Analysis, 2020 - 2027".

Print Management Software Market Size

Print Management Software market is estimated to grow from USD 399.1 Million in 2020 to USD 1,382.3 Million by 2027, at a CAGR of 16.8% between 2020-2027.

Print management software offers efficient and effective optimization and management of overall printing processes as well as devices. Print management software enables users to protect and secure digital data while it is shared from anywhere across various mobile solutions. It is widely used to manage costs, mobility, security, provide authentication and create smarter workflows.

Print management solutions allows organizations to manage and centralize printing devices and activities. It assists organizations in controlling, maintaining and monitoring multiple printing devices such as copiers, desktop printers, scanners etc. using single application. The software also aids in offset printing, quick printing, mailing and distribution. Increased adoption of print management software is due to optimized management of networked devices or printers.

To enhance user experience, service providers are also offering variety of value-added features such as network security, information governance and regulatory compliance, user authentication, data & document security etc.

Market Overview

The market report covers a basic overview of the market from the industry perspective. This will help the reader to get a gist about different industry dimensions from a manufacturer's view. The report divides the market into different sections and is comprised of market revenue (value) by segments.

The report provides market data from 2016 till 2027, wherein, 2016 to 2018 will be historic years, 2019 would be the base year and 2020 to 2027 will be forecast years. The report provides different statistics and figures and charts that will help analyze trends and global Print Management Software market share along with its growth rate in different regions and countries.

Key players across the globe are profiled in the report along with its company landscaping. Product portfolio for each company, recent developments and company strategies are covered along with the company financials.

Segmentation Analysis

Large Enterprises Dominated Market with Almost 62% Market Share

Based on organization size market is segmented into SMEs and Large Enterprises. Large enterprises dominated the market with revenue share of about 62% in 2019. SMEs segment is projected to witness rapid growth in the coming years.

Increasing emphasis by large organizations to effectively manage large and complex printing and networking system, need to protect and secure digital data, need to reduce paper wastage and carbon emissions and availability of budgets are contributing factors to the large market share.

Stand-alone Software to Register Fastest Growth in the Coming Years

Based on Software Type market is categorized into Embedded Software and Stand-alone Software. Stand-alone software segment is further sub-categorized into On-premise or Desktop-based Software and Cloud-based or Browser-based Software.

Cloud-based software segment held largest market share in 2019 and is projected to register fastest growth in the coming years. Demand for cloud solutions is more among all enterprises due to availability of established network in developed regions and lower deployment cost.

Banking, Financial Services and Insurance Industry Dominated Market in 2019

Information Technology (IT) & Telecommunications, Banking, Financial Service and Insurance (BFSI), Media and Entertainment, Retail, Healthcare and Other Industries are end users of the market. BFSI was the largest end user of the market. Retail segment will observe fastest growth in the coming years.

BFSI industry requires secure and large volume printing function to comply with the General Data Protection Regulation (GDPR). Print management software allows secure and managed printing with user authentication, auditing, print and copy control, thereby allowing better printing process management. Thus, BFSI sector has widely deployed print management software contributing to largest revenue share.

Print Management Software Companies

The top 14 Key players in Print Management Software market analysis

Canon Inc., ePaper Ltd., Hewlett-Packard Development Company, L.P., Maprinter, Nuance Communications, Inc., PaperCut Software International, Pcounter, Print Manager, Printix.net, Ringdale UK Ltd., Sepialine, Inc., United Carlton, Xerox Corporation, Y Soft Corporation

Regional Analysis

North America Captured Largest Revenue Share of Almost 38% in 2019

At regional level, North America held largest market share of almost 38% in 2019. Presence of large industrial base in U.S., government policies to boost innovation and large purchasing power are major attributing factors to the large market share. The growth in North America is majorly focused in U.S. Print management solutions are widely deployed by companies that use big data solutions are to reduce costs, streamline their operations, and increase workplace productivity.

Europe was second largest market for print management software market. Fastest growth is projected for Asia Pacific region during the forecast period. Increasing number of startups and large number of organizations in emerging markets like India and China would support the print management software market growth in this region.

Latin America will witness considerable growth in the years to come. However, lack of infrastructure in Middle East and Africa region may lead to slower growth in this region.