Report : Middle East & Africa 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 12.8% CAGR, the MEA Print Management Software Market is speculated to be worth US$ 341.32 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the MEA print management software market was valued at US$ 166.08 million in 2022 and is expected to reach US$ 341.32 million by 2028, registering a CAGR of 12.8% from 2022 to 2028. Increase in print-on-demand software and rise in adoption of big data solutions are the critical factors attributed to the MEA print management software market expansion.
Companies using Big Data solutions are increasingly adopting print management software to streamline their operations, reduce costs, and increase workplace productivity. The software enables users to create digital files by scanning documents, thus enabling companies to control, manage, and access their most important documents better. Print management software also allows better collaboration among different departments within the organization for analytical purposes. The software allows companies to sort and organize essential documents more efficiently by using optical character recognition (OCR). They also provide enhanced security features to help protect valuable information from network breaches. Thus, the increasing adoption of Big Data solutions is one of the significant trends in the MEA print management software market, which would drive its growth during the forecast period.
On the contrary, high costs of installation and maintenance, and lack of awareness hurdles the growth of MEA print management software market.
Based on deployment, the MEA print management software market is bifurcated into on-premises and cloud. The cloud segment held 66.8% market share in 2022, amassing US$ 111.01 million. It is projected to garner US$ 236.43 million by 2028 to expand at 13.4% CAGR during 2022–2028.
Based on enterprise size, the MEA print management software market is bifurcated into large enterprises and small and medium enterprises. The large enterprises segment held 69.4% market share in 2022, amassing US$ 115.26 million. It is projected to garner US$ 225.34 million by 2028 to expand at 11.8% CAGR during 2022–2028.
Based on industry, the MEA print management software market is segmented into BFSI, IT and telecom, healthcare, retail, and other industries. Other industries segment held 38.2% market share in 2022, amassing US$ 63.51 million. It is projected to garner US$ 126.62 million by 2028 to expand at 12.2% CAGR during 2022–2028.
Based on country, the MEA print management software market has been categorized into the UAE, Saudi Arabia, South Africa, and the Rest of MEA. Our regional analysis states that Saudi Arabia captured 37.2% market share in 2022. It was assessed at US$ 61.78 million in 2022 and is likely to hit US$ 124.24 million by 2028, exhibiting a CAGR of 12.3% during the forecast period.
Key players dominating the MEA print management software market are Canon Inc; ePaper Ltd; HP Development Company, L.P.; Kofax, Inc.; PaperCut Software International Pty Ltd; 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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