Asia Pacific Print Management Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Deployment (On-Premise and Cloud), Enterprise Size (Large Enterprises and Small and Medium Enterprises (SMEs)), and Industry (BFSI, IT and Telecom, Healthcare, Retail, and Other Industries)
The print management software market in APAC is expected to grow from US$ 344.7 million in 2019 to US$ 1,471.6 million by 2027; it is estimated to grow at a CAGR of 20.1% from 2020 to 2027.
Security breach is a major concern associated with printing tasks, and print management software protects confidential documents, ensuring that sensitive documents are printed and collected by authorized users only. Also, print management software can be configured to demand print approvals by authorized personnel, including managers, teachers, or system administrators hence driving the growth of APAC print management software market. In many companies, employees regularly report the presence of papers displaying confidential correspondence, salary information, and other sensitive information in print trays. Print management software addresses such vulnerabilities with its capability to facilitate secure print release. The software also prevents premature release of confidential documents to unauthorized audiences to keep the company's information safe. Additionally, print management software monitors print environment with the help of automated print queue control to ensure continuity in projects. The system also sends alerts when devices require maintenance, updates, or advanced troubleshooting. Therefore, upgrades insecurity and data management bolster the growth of print management software market in APAC. Minimized printing prices and better printing performance are among the other factors driving the demand for print management software in APAC which is driving the APAC print management software market
The region is characterized by a large number of developing countries, positive economic outlook, high industrial presence, huge population, and rising disposable income. The increasing number of smartphone users, growing adoption of connected devices, and surging e-commerce sector provide lucrative opportunities for the growth of the print management software market in APAC. The COVID-19 crisis is causing considerable disruptions in the growth of various industries across APAC, and China and India are among the worst-affected countries in the region. China is considered as a manufacturing hub and the most prominent raw material supplier for various industries around the world. Plants and factory shutdown imposed by the government of China, to contain the COVID-19 infection, is restricting supply chain activities, which limits manufacturing operations, delivery schedules, and product and service sales which is directly affecting the APAC print management software market.
On the basis of industry, the other industries segment led the APAC print management software market in 2019. The segment includes industries associated with education and government sectors. In the education sector, print management software empowers learning and reduces operating costs with user-friendly, fully tracked, and flexible printing solutions. The software is trusted by institutions ranging from small schools to multi-campus universities. Multiple government and political institutions in APAC strive to maintain an active audit trail, alongside minimizing miscellaneous prices, including printing costs. Sentinel is a print management solution, designed with a major focus on needs of government institutions. It helps secure the printing tasks for government organizations by allowing the access of documents, public details, and international contract-related information, as well as other confidential information, to the authorized users only. Hence several advantages is expected to increase its demand in coming year, which will drive the APAC print management software market
The overall APAC print management software market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the APAC print management software market. The process also serves the purpose of obtaining an overview and forecast for the APAC print management software market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically associated with this process include industry experts, such as VPs, business development managers, print management software market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC print management software market. Canon Inc.; HP, Inc.; Kofax, Inc.; PaperCut Software International Pty Ltd; PrinterLogic; ThinPrint GmbH; and Xerox Corporation are a few players operating in the print management software market in APAC.
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