print management software Market

The print management software 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.

Print management software is useful in determining the true cost per page and calculating the actual cost of ownership for each printer and error. The software generates reports on the printer's history and errors, which can provide valuable information for optimizing the printer fleet and improving workflows. The user-friendly web interfaces provide visibility that helps staff members and their teams perform their tasks more efficiently. With Equitrac, an integrated print tracking and cost recovery software solution, organizations can simplify IT support operations, recover costs, reduce waste, and enhance security. This software can be integrated with multifunctional printers from various brands such as HP, Sharp, Canon, and Konica Minolta. Equitrac automatically captures, tracks, and allocates print jobs, reducing overhead costs. It streamlines operations, improves document security, and minimizes print waste and toner consumption, increasing productivity. Print management software also improves the performance of different companies through the following abilities:

• Maintaining control over paper consumption: A print management system allows consumers to regulate the amount of paper used.
• A print management system can lead organizations to suggest new equipment that utilizes effective power products. With the software being a major investment, companies are taking into account power efficiency when designing new devices.
• Syncing printer fleet: The integration of printer fleets is another component of print management. This function synchronizes all the current printers and places them on the same page.

The growth of the tablet and smartphone market is significantly impacting the print management software market in the US. For example, PaperCut offers easy local printing from various devices, including iPads, iPhones, Android, Windows, Chromebook, and Mac devices. These solutions enable remote access to prints by transmitting print jobs over the internet, even outside the network. The US is at the forefront of emerging technologies; thus, enterprises in the country have a high exposure to print management software. Canon Inc. is one of the leading providers of smooth connectivity with its Canon PRINT application. It offers features such as effortless printing, smart device-enabled copying and scanning, and checking the printer's status and linking up to the cloud. In March 2020, Canon Inc. launched the Canon PIXMA TR150 Wireless1 Printer, which supports portability with its optional battery, benefiting companies and employees as millions of people across the US are working from home.

The MEA market for print management software is categorized into South Africa, Saudi Arabia, the UAE, and the remaining parts of the MEA. The region is predicted to experience a significant boost in both marketing and industrialization in the forthcoming years. As per the World Bank, six of the world's ten fastest-growing economies in 2020 were from Africa. Consequently, several international developers of print management software are eager to explore and invest in Africa and other emerging markets. The digital revolution in the printing industry in the MEA is expected to depend heavily on print management software. Besides, with technological advancements like 3D printing, companies in the traditional print arena are striving to reposition themselves in the market for print management software growth by introducing innovative solutions.

The print management software market is divided into various segments based on deployment, enterprise size, industry, and geography. The deployment segment is classified into on-premises and cloud. The enterprise size segment is divided into small and medium enterprises and large enterprises. The industry segment is categorized into IT & telecom, BFIS, healthcare, retail, and others. The geography segment is further segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

The print management software market size has been determined using a combination of primary and secondary research. The secondary research involved internal and external sources in gathering qualitative and quantitative information regarding the market. The primary research included multiple interviews with industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants, including valuation experts, research analysts, and key opinion leaders specializing in the print management software market. This process was carried out to validate the data and gain more analytical insights, thereby obtaining a comprehensive overview and forecast of the print management software market across all its segments.