Understand some trends from print management software in 2023, and individual analysis for India, Germany, the UK, Italy, and Spain.
One of the paths to anticipate the future is to understand the past. Recently, Insight Partners released a study about print industry trends, including growing forecasts. The research shows that the market should increase from $1.77 billion in 2021 to 4.67 billion in 2028, as we showed in this article. According to the paper, it is possible to perceive some trends for the next year:
– Demand should grow – The reduced cost of printing, the enhancement of performance, and most companies searching for print management software integrated, with the print fleet, will move the market. Most enterprises expect solutions in the cloud, without the need for local servers.
– Environmental concerns – The print management software relates to the volume of paper and energetic efficiency, which may align with ESG strategies. According to the research, a company generates more than 7.5 tons of waste per year. The paper represents 40% of the total. Enhancing the ability to print management is an attribute under this perspective.
– Restrictions of installation and maintenance – Many players try to optimize installation and maintenance costs, expanding the return on investment (ROI). However, companies suffer from a shortage of specialized workforce, which struggles in expansion and affects clients’ relationships.
– Print-on-demand (POD) opportunity – The technology aims to optimize infrastructure and reduce waste, allowing better customization control and print volume. Many players are offering this kind of feature, looking for a unified monitor of all devices in a print fleet.
– Big Data impact – The technology will be necessary for most businesses. Big Data creates opportunities, assuring structured and safe management of information. Besides, it is related to digital transformation, resulting in the best decision-making process and the most effective flow of digitizing with OCR technology.
There are different paths to keep competitiveness in the print management software market. Some companies are investing in customer acquisition to enhance their position in the global market. Another way is the addition of services or features, especially those related to hybrid work or that reach customers’ expectations.
What is the perspective for some markets?
The print industry trends mentioned above reach all markets. However, the study allows the analysis of some countries. See the expectations for India, Germany, UK, Italy, and Spain:
Assessed at $64.47 million in 2021, the market should reach $204.37 million in 2028. The CAGR expected is 18.2% due to retail, healthcare, IT, and telecom growth. The country will have one of the highest growth, and the “Digital India” project allows small and medium-sized companies to invest in this solution.
The market should grow from $126.36 million to $352.39 million from 2021 to 2028, achieving a CAGR of 16.1%. Retail and healthcare should leverage the development. Germany is a mature market, with representative players’ that contribute to the results.
This market has the most safety concerns, which opens the opportunity for companies that succeed in this market, planning and positioning. The expected growth is from $159.64 million to $471.29 million from 2021 to 2028, with a 17.1% CAGR. As in Germany, retail and healthcare appear highlighted.
The Italian print industry is one of the most important in Europe. However, other segments, such as retail, IT, and telecom, appear highlighted in the research. The Italian market should expand from $36.68 million to $90.14 million.
The research does not assess specific data from Spain. The country combines under the label of “rest of Europe” with less industrialized countries, such as Portugal, Poland, and Austria. These countries should grow $89.73 million in 2021 to $207.32 million in 2028, with a 13% CAGR.
In the following article, we will show some perspectives on the print management software market in Latin America and USA.