At 17.1% CAGR, South & Central America Print Management Software Market is Projected to be Worth US$ 292.53 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the South & Central America print management software market was valued at US$ 82.82 million in 2023 and is projected to reach US$ 292.53 million by 2031, registering a CAGR of 17.1% from 2023 to 2031. Increasing concerns about security breaches and rise in adoption of big data and AI solutions are among the critical factors attributed to drive the South & Central America print management software market growth.

Big Data and AI are likely to play vital roles in the printing industry in the coming years. Printing businesses have started to enable automation and Big Data analytics to obtain data-driven insights to bring improvements in the production processes. A printing business can create a process to find available data-centering print workflow with the aid of Big Data analytics. AI capabilities can also result in profitable print management systems.

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. They also provide enhanced security features to help protect valuable information from network breaches. Thus, the increasing adoption of Big Data solutions is expected to be one of the significant trends in the print management market.

On the contrary, lack of awareness in SMEs hampers the growth of the South & Central America print management software market.

Based on deployment, the South & Central America print management software market is bifurcated into cloud and on-premise. The cloud segment held 84.4% market share in 2023, amassing US$ 69.93 million. It is projected to garner US$ 261.96 million by 2031 to register 18.0% CAGR during 2023–2031.

Based on enterprise size, the South & Central America print management software market is bifurcated into large enterprises and small & medium enterprises. The large enterprises segment held 79.3% market share in 2023, amassing US$ 65.67 million. It is projected to garner US$ 221.68 million by 2031 to register 16.4% CAGR during 2023–2031.

Based on industry, the South & Central America print management software market is segmented into BFSI, healthcare, IT & telecom, retail, and other industries. The other industries segment held 37.6% market share in 2023, amassing US$ 31.17 million. It is projected to garner US$ 107.17 million by 2031 to register 16.7% CAGR during 2023–2031.

Based on country, the South & Central America print management software market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 68.1% share of South & Central America print management software market in 2023. It was assessed at US$ 56.37 million in 2023 and is likely to hit US$ 208.26 million by 2031, registering a CAGR of 17.7% during 2023–2031.

Key players operating in the South & Central America print management software market are Canon Inc; ePaper Ltd; HP Inc; PaperCut Software International Pty Ltd; PrinterLogic; ThinPrint GmbH; Tungsten Automation Corporation; and Xerox Holdings Corp, among others.

• In January 2024, Printix has been awarded the prestigious title of "Cloud Print Management Solution of the Year" at this year's PrintIT Awards. Tungsten cloud print management solution Printix, has set the standard in this rapidly evolving field. By improving the efficiency of on-premise print infrastructure, Printix helps businesses of all sizes to streamline their printing processes, reduce costs, and increase overall productivity.
• In May 2023, ThinPrint, one of the leading providers of print management solutions, launched ThinPrint 13, the latest version of its ThinPrint Engine solution, the company's on-premise and private cloud print management software for remote and virtual desktop environments.

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