Surge in use of big data platform, strict measures taken to reduce office paper usage, and strengthened information security drive the growth of the global Printing Software Market. However, recurring expenses restrain the market growth. On the other hand, the emergence of innovative software and services along with lowered IT workload and costs present new opportunities in the coming years.
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Based on end user, the retail segment held the largest market share in 2021, accounting for more than one-fourth of the global printing software market, and is projected to maintain its lead in terms of revenue throughout the forecast period. This is due to improved customer communications, content management, and operational workflow automation.
Based on organization size, the large enterprises segment held the largest market share in 2021, contributing to nearly three-fifths of the global printing software industry, and is expected to continue its dominance during the forecast period. This is attributed to adoption of managed print services to monitor their IT costs, human resources, and almost every other area of their business.
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Based on deployment model, the on-premise segment contributed to 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 during the forecast period. This is attributed to offering users more control over how security is established, monitored, and contained.
Based on component, the software segment accounted for the largest market share in 2021, contributing to more than three-fifths of the global printing software market, and is projected to maintain its lead position during the forecast period. This is due to its ability to join the existing printing infrastructure and save a vast amount of money on toner, paper, electricity, and costly maintenance.
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Based on region, North America contributed to the highest market share in 2021, holding nearly two-fifths of the global printing software market, and is expected to maintain its lead status by 2031. This is due to surge in the adoption of advanced technology by several business verticals to optimize operational efficiencies, improve the financial situation, and enhance security. However, Asia-Pacific is projected to grow at the fastest CAGR of 19.7% from 2022 to 2031, owing to adoption of third platform technologies, notably regarding cloud, big data, and mobility.
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Covid-19 Scenario
- Owing to economic uncertainty that occurred with the outbreak of the Covid-19 pandemic, business organizations began to find ways for reducing overall operational costs. This led them to adopt print software for tracking printer usage and reduce department costs.
- In addition, post-pandemic, companies are searching 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 across various enterprises.
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