Report : Europe 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 15.6% CAGR, the Europe Print Management Software Market is speculated to be worth US$ 1,430.75 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe print management software market was valued at US$ 600.30 million in 2022 and is expected to reach US$ 1,430.75 million by 2028, registering a CAGR of 15.6% from 2022 to 2028. Improved security and management of data and reduced cost of printing and enhanced performance are the critical factors attributed to the Europe print management software market expansion.
Security breach is a major concern associated with the printing task. Print management software protect confidential documents as they as for user authentication before publication, ensuring that sensitive documents can be printed and collected only by authorized users. This software can also be configured to require print approval—making sure managers, teachers, or system administrators authorize it. In many companies, employees regularly report confidential correspondence, salary information, and other sensitive information on papers lying in print trays. The print management software addresses such vulnerabilities with their capability to facilitate secure print release. They prevent premature release of sensitive documents into print trays to keep the company's information safe. Additionally, print management software provide print environment monitoring with the help of automated print queue control to keep projects moving forward; the system alerts when devices require maintenance, updates, or advanced troubleshooting. So, several advantages of print management software is expected to drive the Europe print management software market growth.
On the contrary, high costs of installation and maintenance, and lack of awareness hurdles the growth of Europe print management software market.
Based on deployment, the Europe print management software market is bifurcated into on-premises and cloud. The cloud segment held 69.6% market share in 2022, amassing US$ 418.10 million. It is projected to garner US$ 1,035.04 million by 2028 to expand at 16.3% CAGR during 2022–2028.
Based on enterprise size, the Europe print management software market is bifurcated into large enterprises and small and medium enterprises. The large enterprises segment held 64.8% market share in 2022, amassing US$ 389.16 million. It is projected to garner US$ 896.04 million by 2028 to expand at 14.9% CAGR during 2022–2028.
Based on industry, the Europe print management software market is segmented into BFSI, IT and telecom, healthcare, retail, and other industries. Other industries segment held 37.0% market share in 2022, amassing US$ 222.19 million. It is projected to garner US$ 506.95 million by 2028 to expand at 14.7% CAGR during 2022–2028.
Based on country, the Europe print management software market has been categorized into the UK, Germany, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that the UK captured 30.5% market share in 2022. It was assessed at US$ 183.25 million in 2022 and is likely to hit US$ 471.29 million by 2028, exhibiting a CAGR of 17.1% during the forecast period.
Key players dominating the Europe print management software market are 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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