Print Management Software Market Insights by Growth, Segmentation, Emerging Trends and Forecast By 2028

The print management software market is projected to grow from US$ 2,000.99 million in 2022, it is estimated to grow at a CAGR of 15.2% from 2022 to 2028.

PUNE, MAHARASHTRA, INDIA, April 13, 2023 /EINPresswire.com/ -- The print management software market is segmented on the basis of deployment, enterprise size, industry, and geography. Based on deployment, the market is bifurcated into on-premises and cloud. In terms of enterprise size, the print management software market is bifurcated into small and medium enterprises, and large enterprises. Based on industry, the market is segmented into IT & telecom, BFIS, healthcare, retail, and others. Based on geography, the print management software market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). Print-on-demand software helps in the accurate and efficient management and optimization of printing machines and other procedures. These software solutions are mainly available as standalone software and embedded functionality for managed print facilities. In addition, tracking, managing, and controlling the entire printer fleet from a single application interface helps businesses save money on printing. Moreover, features such as scanners, desktop printers, and managed copiers further allow for unified control in the print management software. Thus, the growing awareness of print-on-demand software is anticipated to create lucrative opportunities for the print management software market growth in the upcoming years.

Technological advancements have led to a highly competitive marketplace in North America. The presence of key market players, such as Xerox Corporation; Canon Inc.; HP, Inc.; Printer Logic; and Kofax, Inc., are increasingly providing complete solutions for managing and monitoring print operations, improving efficiency, and automating off-site operations processes. Similarly, many organizations across North America and the world currently use print management software from Paper Cut; its four offices respond to the demands for these solutions and implement the same successfully in several schools and other significant accounts across Ontario. Moreover, there is an increasing number of on-demand webinars providing security audits & assessments in North America, to ensure privacy, data integrity, and security to prevent data leaks and maintain regulatory compliance. For example, PriApps conducted webinars on August 4, 11, and 18, 2020. Its print management software deployment in North America has benefited many leading universities. Further, the insurance industry in North America has grown substantially in the past. As the insurance industry responds to rising market and cost pressures, it is essential to optimize the print environment to save time and money that could be better spent working with customers and expanding businesses.

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Print Management Software Market Segmentation

By Deployment
On-Premise
Cloud

Enterprise Size
Large Enterprises
Small and Medium Enterprises

By Industry
BFSI
IT & Telecom
Healthcare,
Retail
Other

A rise in the middle-class population and urbanization in Asia Pacific countries is providing a significant opportunity for the key players in the print management software market. Rapid technological advancements and policy support, and economic digitization and growing disposable income—especially in the middle-income class community—are assisting in the transition of economies in this region from the growth phase to the developed phase. APAC is projected to register the fastest CAGR in the global print management software market during the forecast period. The region has a robust IT infrastructure and access to robust software and service offerings. As the labor crisis and high rents continue to impact the retail sector in APAC, enterprises in the region seek to increase investments in self-service technologies and automation to cut costs and enhance the customer experience. Several supermarket chains have installed self-service kiosks at checkout counters with an optimistic objective to obtain improved results due to reduced waiting times. The need for innovation, agility, and flexibility, and speedy business processes propel the demand for SaaS-based solutions, as these vendors provide solutions that help drive margins with lower operating costs. These factors are contributing to the growth of the software print management market in APAC.

Impact of COVID-19 Pandemic on Print Management Software Market Growth
The COVID-19 pandemic led to significant disruptions in industries such as logistics, retail, and e-commerce. An increase in the number of COVID cases affected the manufacturing and sales of smartphones and digital cameras in North America. The factory and business shutdowns across the US, Canada, and Mexico hampered the adoption of print management software. However, the health and economic crisis boosted digitalization in several countries, supporting remote working & learning processes, delivery services, and telemedicine. North America is one of the most critical regions for adopting and growing new technologies due to favourable government policies implemented to boost innovation, the presence of a vast industrial base, and high purchasing power in developed countries such as the US and Canada. The US is a significant for print management software market, especially in the retail & e-commerce sectors. The global health crisis created lucrative opportunities for cloud-based print management software providers in the region. In addition, several businesses moved to cloud-based operations, ensuring that remote and office workers have secure, flexible access to prints and other confidential documents. The key players in the printing sector in the region continued to engage in strategic partnerships and digitalization efforts.

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Print Management Software Market: Competitive Landscape and Key Developments

AND Technologies, Inc.; Canon Inc.; ePaper Ltd; KOFAX, INC.; Printer Logic; PaperCut Software International Pty Ltd; Process Fusion; The Hewlett-Packard Company; Thin Print GmbH; and Xerox Corporation are among the leading players profiled in the print management software market report. Several other essential market players were analysed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their growth. A few developments are mentioned below:

• In August 2021, Kofax acquired Printix.net ApS, a cloud-based SaaS print management software provider, to expand its customer and partner ecosystem for establishing a strong position in the competitive market.
• In September 2021, HP Development Company, L.P. launched HP Managed Print Flex, a new cloud-first managed print service (MPS) subscription plan that helps businesses optimize costs by simplifying management, improving productivity, and delivering flexibility to scale or customize as business needs change.

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Sameer Joshi
The Insight Partners
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