There are two different approaches in America, but both show potential for print management software in the US.
In the last article, we showed a study by The Insight Partners that indicate some main trends for the print market in 2023. Among them, it is possible to mention the growing demand, the environmental concerns, the installation, and maintenance restrictions, the opportunity for Print-on-demand (POD), and the big data impact.
We approached in another article the evolution of the cloud, which is already a reality in the print management software market. Besides global evaluations, the study covers specific regions, as we showed some details about Europe.
Read some perspectives of the United States and South America in this article.
United States
The print management software market in the US was valued at US$ 505.61 million in 2021 and should reach US$ 1.27 billion by 2028. The CAGR expected is 14.5%. As in other economic segments, the US is relevant in this market. The research indicates that the North American share will maintain above 35% during the forecast period.
The continent context collaborates for the results:
- There are several print management software providers in the region, which makes governments across the region support & invest in print management software, aiming to reduce costs. Furthermore, there is tremendous growth in the e-commerce sector, accelerating the demand for print management software and infrastructure.
- “Security breach has become a primary concern associated with printing tasks,” mainly due to online services dissemination. That is the reason features that keep the confidentiality of documents are essential.
- The technological advances make North America a highly competitive marketplace. One of the reasons is the presence of important players. They are “increasingly providing complete solutions for managing and monitoring print operations, improving efficiency, and automating off-site operations processes,” says the study.
According to research, there is a demand for information about themes related to security audits & assessments, privacy, data integrity & secure document collaboration to prevent data leaks and maintain regulatory compliance.
The insurance sector must be a key player in the MPS market, as well as healthcare and retail. “As the insurance industry responds to rising market and cost pressures, it is essential to optimize the print environment to save time and money that could be better spent working with customers and growing business, which is contributing to the increasing demand for MPS,” emphasize the research.
That is also a trend for small and medium size companies. They should grow faster in the forecast period: 15.7% against 13.8% from the big enterprises. In other words, MPS will expand to all kinds of companies.
South America
The print management software market in South America was valued at US$ 62.03 million in 2021 and should reach US$ 130.92 million by 2028. The expected CAGR is 11.5%. However, the continent global share will fall from 3.5% to 2.8% due to the expansion of European and Asiatic markets.
According to research, countries in South America are making continuous investments in information technologies, which support the growth of the MPS market. “Economies such as Brazil, Chile, Argentina, Colombia, Peru, etc. are witnessing positive growth in their infrastructure and technology sector,” explains the report.
Cloud services are enhancing on account of the increasing Internet user penetration in countries such as Brazil and Argentina: “This is influencing the adoption of digitalized solutions across the countries in the region. Further, a country such as Brazil and Columbia are focusing on boosting IT infrastructure across the printing industry, which ultimately drives the cloud adoption.”
One of the consequences is the e-commerce growth associated with internet dissemination. However, one of the major challenges for market growth is the increasing demand for engineers, software designers, and prototyping specialists, among other professions, a kind of labor that is missing in some countries.
As we see in the US, the small and medium size companies will grow above average (13.6%), while the big companies will register 10.6%. That indicates the necessity to reach this kind of market for print providers.
