Report : North America Print Management Software Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Deployment (On-Premise and Cloud), Enterprise Size (Large Enterprises and Small and Medium Enterprises), and Industry (BFSI, IT and Telecom, Healthcare, Retail, and Other Industries)
At 14.7% CAGR, the North America Print Management Software Market is speculated to be worth US$ 1,673.88 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America print management software market was valued at US$ 735.03 million in 2022 and is expected to reach US$ 1,673.88 million by 2028, registering a CAGR of 14.7% from 2022 to 2028. Reduced cost of printing and enhanced performance and improved security and management of data are the critical factors attributed to the North America print management software market expansion.
The print management software helps to find out true cost per-page, discover the actual cost of ownership for each printer, error and history reports deliver valuable information to improve fleet management, optimize fleet for improved workflows, easy-to-use web interfaces provide visibility to help staff members and its teams do their jobs more efficiently, and free up IT staff to focus on core business objectives and training. For example, Equitrac is a print tracking and cost recovery software solution that can be integrated with multifunctional printers such as HP, Sharp, Canon, and Konica Minolta. It can help an organization reduce waste, recover costs, increase security, and simplify IT support once implemented. Equitrac reduces overhead costs by automatically capturing, tracking, and allocating every print job, it increases productivity by streamlining operations, increases document security, and minimizes print waste and toner consumption. Print management software also improves the performance of different companies through different abilities such as maintaining control over paper consumption, using effective power products, and syncing printer fleet. So, reduced cost of printing and enhanced performance is expected to drive the North America print management software market growth.
On the contrary, high costs of installation and maintenance, and lack of awareness hurdles the growth of North America print management software market.
Based on deployment, the North America print management software market is bifurcated into on-premises and cloud. The cloud segment held 73.7% market share in 2022, amassing US$ 541.98 million. It is projected to garner US$ 1,273.16 million by 2028 to expand at 15.3% CAGR during 2022–2028.
Based on enterprise size, the North America print management software market is bifurcated into large enterprises and small and medium enterprises. The large enterprises segment held 63.9% market share in 2022, amassing US$ 469.48 million. It is projected to garner US$ 1,029.78 million by 2028 to expand at 14.0% CAGR during 2022–2028.
Based on industry, the North America print management software market is segmented into BFSI, IT and telecom, healthcare, retail, and other industries. Other industries segment held 33.8% market share in 2022, amassing US$ 248.40 million. It is projected to garner US$ 554.70 million by 2028 to expand at 14.3% CAGR during 2022–2028.
Based on country, the North America print management software market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 77.2% market share in 2022. It was assessed at US$ 567.44 million in 2022 and is likely to hit US$ 1,278.85 million by 2028, exhibiting a CAGR of 14.5% during the forecast period.
Key players dominating the North America print management software market are A.N.D Technologies, Inc.; Canon Inc; ePaper Ltd; HP Development Company, L.P.; Kofax, Inc.; PaperCut Software International Pty Ltd; PrinterLogic; Process Fusion; ThinPrint GmbH; and Xerox Corporation, among others.
- In Feb 2019, UniPrint.net Corp. announced a merger with Process Fusion Inc., the merger would enable the businesses to accelerate their business transformation process.
- In June 2020, Kofax announced a partnership with Microsoft. It will deliver more value to Microsoft Universal Print users by letting them leverage Kofax ControlSuite, the company’s print management, and cognitive capture software solution.
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