According to our latest market study on "Print Management Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Deployment, Enterprise Size, and Industry," the market is projected to grow from US$ 2,000.99 million in 2022 to US$ 4,675.65 million by 2028; it is estimated to grow at a CAGR of 15.2% from 2022 to 2028.

Growing Demand for Cloud-Based Solution Fuels Print Management Software Market Growth
The increasing demand for print management software solutions is driven by organizations with server racks and local infrastructure that can integrate these solutions into their cloud environment. Cloud-based print management solutions administer, monitor, and track print environments using the cloud instead of relying on print servers, as with on-premise infrastructure. The leading players in the print management software market offer a wide variety of products that cater to customers seeking print solutions based on private and public clouds. Companies are seeking robust and secure printing capabilities without needing on-site print servers, fueling the growth of the print management software market. The cloud print management software can run on a printer or a dedicated device.

The COVID-19 pandemic significantly impacted Europe's economy in 2020 due to various restrictions such as lockdowns, travel bans, and supply chain disruptions. Many businesses had to halt or reduce their operations, resulting in severe economic difficulties. Companies providing print management services to trade fairs, exhibitions, meetings, and events were especially affected due to government restrictions. In Europe, the advertising sector is a significant consumer of printed products and the decline in orders for catalogs from travel agencies directly impacted printed advertising. Despite the moderate growth rate seen in the retail and e-commerce industries in 2021, the pandemic dampened the growth of the print management software market in Europe in recent years.

Key Findings of Study:
The print management software market segmentation is based on deployment, enterprise size, industry, and geography. The deployment category is divided into on-premises and cloud, while the enterprise size category is bifurcated into small and medium enterprises, and large enterprises. Based on industry, the print management software market is segmented into IT & telecom, BFIS, healthcare, retail, and others. Geographically, the print management software market is divided into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). The Asia Pacific region is expected to witness significant growth in the print management software market during the forecast period due to the rise in the number of print management software providers and an increasing focus on reducing printing costs.

The main purpose of print management software is to efficiently manage and improve printing processes and associated devices. This software facilitates mailing and distribution, offset printing functions, quick printing, and managing desktop printers, scanners, and copiers. To access printers and other print services, the software requires user authentication. Additionally, it offers various value-added features such as network security, data and document security, information governance, and regulatory compliance, enhancing the user experience. The increasing adoption of print management software across businesses of varying sizes fuels the market's growth.

Companies in the print management software market embrace inorganic market strategies to expand their footprints worldwide. They primarily focus on acquisition strategies to grow their business and maintain their brand image. For instance, in November 2019, PrinterLogic acquired MaxxVault, an enterprise content management software provider. This acquisition paved the way for combining serverless printing infrastructure at PrinterLogic with Maxxvault's digital transformation tools. The lack of product awareness is the main factor restraining the growth of the global print management software market. Further, the high initial cost of solution also curbs the print management software market growth.

The print management software is a solution that tackles several printing-related issues, including the transformation of paper-based processes into digital files, document control processes, and digital billing processes. This software is highly secure and provides user authentication processes. The demand for print management software is expected to increase with the growing adoption of analytics and cloud computing technologies by printer manufacturers.

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