Print Software Market to Reach $6.3 Billion Globally by 2031 at a CAGR of 18.4%: Allied Market Research

Rising use of big data platform, stringent measures taken to reduce office paper usage and enhanced information security are driving the growth of the global printing software market.

PORTLAND, Oregon., August 12, 2022 /PRNewswire/ — Allied Market Research has released a report titled, “Printing Software Market by Component (Software, Services), Deployment Model (On-Premise, Cloud), Organization Size (Enterprise, Small, and Midsize Business), by End User (Retail, BFSI, Food & Beverage, Travel & Hospitality, Healthcare, IT & Communication, Others): Global Opportunities Analysis and Industry Forecast, 2021-2031. According to the report, the global printing software industry generated $1.2 billion in 2021, and should reach $6.3 billion by 2031, with a CAGR of 18.4% from 2022 to 2031.

Drivers, constraints and opportunities

Rising use of big data platform, stringent measures taken to reduce office paper usage and enhanced information security are driving the growth of the global printing software market. However, recurring expenses are restraining the growth of the market. On the other hand, the emergence of innovative software and services as well as the reduction of IT workload and costs offer new opportunities in the years to come.

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Covid-19 scenario

  • Due to the economic uncertainty that has occurred with the outbreak of the Covid-19 pandemic, business organizations have started to find ways to reduce overall operational costs. This led them to adopt printing software to track printer usage and reduce service costs.
  • In addition, post-pandemic, companies are looking for software capable of optimizing and consolidating their printer fleets. Therefore, the need to manage costs during the post-pandemic era will lead to high adoption of print management software in various businesses.

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The software segment to maintain its leading position during the forecast period

Based on components, the software segment accounted for the largest market share in 2021, contributing more than three-fifths of the global printing software market, and is expected to maintain its leading position during the forecast period. This is due to its ability to join existing printing infrastructure and save a large amount of money on toner, paper, electricity and costly maintenance. However, the service segment is estimated to see the largest CAGR of 20.1% from 2022 to 2031, thanks to its help in determining the true cost per page, discovering the true cost of ownership for each printer and providing performance reports. history to offer insights to improve fleet management and fleet optimization for improved workflows.

The on-premises segment to maintain its dominant share over the forecast period

Based on the deployment model, the on-premises segment contributed the highest market share in 2021, accounting for nearly three-fifths of the global printing software market, and is expected to maintain its dominant share over the period. forecast. This is attributed to giving users more control over how security is established, monitored, and contained. However, the cloud segment is expected to show the fastest CAGR of 20.0% from 2022-2031. print servers.

The large enterprise segment will continue its dominance during the forecast period

Based on organization size, the large enterprise segment held the largest market share in 2021, contributing nearly three-fifths of the global printing software industry, and is expected to maintain its dominance during of the forecast period. This is attributed to the adoption of managed print services to monitor their IT costs, human resources, and almost every other area of ​​their business. However, the small and medium business segment is expected to register the largest CAGR of 19.7% during the forecast period, owing to the adoption of printing software by SMBs to shift control over their services.

The retail segment to maintain its revenue lead throughout the forecast period

On an end-user basis, the retail segment held the largest market share in 2021, accounting for more than a quarter of the global printing software market, and is expected to maintain its revenue lead. throughout the forecast period. This is due to improved customer communications, content management and operational workflow automation. However, the food and beverage segment is expected to register the highest CAGR of 21.5% from 2022 to 2031, owing to the adoption of printing software to reduce the price of generating, printing and distribution of documents.

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North America maintain its leadership status by 2031

Based on the region, North America contributed the highest market share in 2021, holding almost two-fifths of the global printing software market, and is expected to maintain its leading status by 2031. This is due to the rise of the adoption of advanced technologies by multiple verticals to optimize operations for efficiency, improve financial condition and enhance security. However, Asia Pacific is expected to grow at the fastest CAGR of 19.7% from 2022 to 2031, driven by the adoption of third-platform technologies, including cloud, big data and mobility.

Main market players

  • Canon Inc.
  • ePaper Ltd.
  • Hewlett-Packard Development Company, LP
  • Maprinter
  • Communications Shades
  • International PaperCut Software
  • Counter
  • Print Manager
  • Printix.net
  • Ringdale UK Ltd.
  • Photocopy
  • Epson
  • Honeywell
  • Lenovo
  • cannon
  • AND
  • HIDDEN global

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