The need for print management software is growing in response to the growing need for more efficient and effective printing process management.

PORTLAND , PORTLAND, OR, UNITED STATE, September 20, 2022 /EINPresswire.com/ -- Surge in use of big data platform, strict measures taken to reduce office paper usage, and strengthened information security drive the growth of the global printing software market. However, recurring expenses restrain the market growth. On the other hand, the emergence of innovative software and services along with lowered IT workload and costs present new opportunities in the coming years.

Based on component, the software segment accounted for the largest market share in 2021, contributing to more than three-fifths of the global printing software market, and is projected to maintain its lead position during the forecast period. This is due to its ability to join the existing printing infrastructure and save a vast amount of money on toner, paper, electricity, and costly maintenance.

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However, the services segment is estimated to witness the largest CAGR of 20.1% from 2022 to 2031, owing to its assistance in determining the true cost-per-page, discovering the actual cost of ownership for each printer, and delivering history reports to offer information to improve fleet management and optimize fleet for improved workflows.

Based on the deployment model, the on-premise segment contributed to the highest market share in 2021, accounting for nearly three-fifths of the global printing software market, and is expected to maintain its dominant share during the forecast period. This is attributed to offering users more control over how security is established, monitored, and contained. However, the cloud segment is projected to manifest the fastest CAGR of 20.0% from 2022 to 2031. This is due to cloud-based print services dramatically lowering the IT workload and costs related to print server management.

Based on organization size, the large enterprises' segment held the largest market share in 2021, contributing to nearly three-fifths of the global printing software industry, and is expected to continue its dominance during the forecast period. This is attributed to the adoption of managed print services to monitor IT costs, human resources, and almost every other area of their business. However, the small and medium-sized enterprises segment is projected to register the largest CAGR of 19.7% during the forecast period, owing to the adoption of printing software by SMEs for transitioning toward control of their services.

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Based on end user, the retail segment held the largest market share in 2021, accounting for more than one-fourth of the global printing software market, and is projected to maintain its lead in terms of revenue throughout the forecast period. This is due to improved customer communications, content management, and operational workflow automation. However, the food and beverages segment is projected to register the largest CAGR of 21.5% from 2022 to 2031, owing to the adoption of printing software to reduce the price of document generation, printing, and dissemination.

Based on region, North America contributed to the highest market share in 2021, holding nearly two-fifths of the global printing software market, and is expected to maintain its leadership status by 2031. This is due to a surge in the adoption of advanced technology by several business verticals to optimize operational efficiencies, improve the financial situation, and enhance security. However, Asia-Pacific is projected to grow at the fastest CAGR of 19.7% from 2022 to 2031, owing to the adoption of third platform technologies, notably regarding cloud, big data, and mobility.

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Some of the key Printing Software industry players profiled in the report include Canon, Inc., Epaper Ltd., Seiko Epson Corporation, Hewlett-Packard Inc., HID Global, Honeywell International Inc., Lenovo Group Ltd., L.P. Printing, MaPrinter Ltd, Nuance Communications, PaperCut Software International, Pcounter, Print Manager, Printix.net, Ringdale UK Ltd., Te Connectivity, Xerox Corporation. This study includes Printing Software market share, trends, Printing Software market analysis, and future estimations to determine the imminent investment pockets.

KEY FINDINGS OF THE STUDY

• On the basis of components, in 2021, the software segment dominated the printing software market size. However, the services segment is expected to exhibit significant growth during the forecast period.

• Depending on the end user, the retail segment generated the highest revenue in 2021.

• On the basis of organization size, the large enterprises segment generated the highest revenue in 2021. However, the small & medium enterprises segment is expected to exhibit significant growth during the forecast period.

• On the basis of region, North America dominated the market in 2021. However, Asia-Pacific is expected to witness significant growth in the upcoming years.

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