At 18.8% CAGR, Print Management Software Market is Advancing with Rise in Adoption of Big Data Solutions by 2027

Print Management Software provide print environment monitoring with the help of automated print queue control to keep projects moving forward; the system alerts when devices require maintenance, updates, or advanced troubleshooting. Increasing focus toward improved security and management of datais one of the major factors driving the growth of the print management software market. However, high costs of installation and lack of awareness regarding the print management software might hinder the growth of the print management software market.

Security breach is a major concern associated with the printing task. Print management software protect confidential documents as they ask for user authentication before publication, ensuring that sensitive documents can be printed and collected only by authorized users. These software can also be configured to require print approval—making sure that managers, teachers, or system administrators authorize it. In companies, several employees’handles sensitive data such as salary information, personal details, and other data related to company, which exposes the company to the data privacy concerns. The print management software address data privacy concerns by monitoring the printing process. The print management softwareprevents premature release of sensitive documents into print trays to keep the company’s information safe

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According to our latest market study on “Global Print Management Software Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Deployment (On-Premise and Cloud), Enterprise Size (Large Enterprises and SMEs), Industry (BFSI, IT and Telecom, Healthcare, Retail, and Other Industries), and Geography,” the global print management software market was valued at US$ 1,344.5 million in 2019 and is expected to reach US$ 5,282.2 million by 2027; it is estimated to grow at a CAGR of 18.8% during 2020–2027. The report highlights key factors driving the market growth, and prominent players and their developments in the market.

COVID–19 Impact on Print Management Software Market

According to the World Health Organization (WHO), the US, Turkey, Brazil, Spain, Germany, Italy, France, UK, Russia, Iran, India and China, are some of the worst affected countries due to the COVID-19 outbreak. As of August 11, 2020, ~20,281,373 confirmed COVID-19 cases were reported globally, with ~ 739,770 total deaths, and the number is growing at varying rates in different countries. The COVID-19 pandemic is affecting the industries worldwide, and the global economy is anticipated to take the worst hit in 2020,which is likely to continue in 2021 as well. The outbreak has created significant disruptions in various industries, such as logistics, retail, and e-commerce.

Companies that use big data solutions are increasingly adopting print management software to streamline their operations, reduce costs, and increase workplace productivity. These software enable users to create digital files by scanning documents, thus enabling companies to control, manage, and access their important documents in a better way. Print management software also allow better collaboration between different departments within an organization for analytical purposes. The software allow companies to sort and organize essential documents more efficiently by using optical character recognition (OCR). They also provide enhanced security features to help protect valuable information from network breaches.  Thus, increasing adoption of big data solutions is one of the significant trends in the print management market, which would drive its growth during the forecast period.

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