Printing Software Market Share, Size, Trends, Industry Analysis Report, By Component (Software and Services); By Organization Size; By End Use; By Region; Segment Forecast, 2023- 2032
- Published Date:Apr-2023
- Pages: 118
- Format: PDF
- Report ID: PM3127
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global printing software market was valued at USD 1,461.78 million in 2022 and is expected to grow at a CAGR of 16.61% during the forecast period. The growing need for timely printing of various processes and documents, including invoicing, record keeping, and shipping, has paved the way for higher adoption of printing software across the globe and is likely to fuel the global market at a rapid pace in the forecast period. Moreover, various large service providers operating in the market are also delivering numerous value-added features, including network security, regulatory compliance, user authentication, information governance, and data security, to improve the user experience with the help of innovations and heavily investing in R&D activities, which is further anticipated to create huge growth opportunities for the market. For instance, in November 2022, Chromatic 3D Materials announced the launch of its latest printing software, "ChromaScan." It enables manufacturers to 3D print durable on substrates of any shape, such as metal, textiles, & plastic.
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Furthermore, the continuous rise in the emphasis on lowering deforestation by minimizing paper usage among private businesses and governments has gained significant traction in the last few years. The rising need and demand for real-time data of printer fleets, optimization through advanced software, and effective and efficient enterprise printing process management have propelled the demand and supported the printing software market growth.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the printing software market. The spread of the lethal coronavirus across the globe has caused crises in almost every sector, including social, economic, and energy, because of the imposed lockdown and various other stringent regulations on trade activities and mass movement. The retail and smartphone industries had also seen a massive drop in sales, as consumers were unwilling to spend their money on this kind of thing, directly affecting the overall demand for printing software during the pandemic.
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Industry Dynamics
Growth Drivers
The rapidly growing implementation of big data platform among various large firms across the globe to have an advantage over their competitor companies by efficiently manipulating, analyzing, and processing data with the help of using computing tools have gained significant traction and driving the global market demand and growth over the coming years. Printing software services are being highly adopted by various businesses to recognize their operational processes, boost work productivity, and reduce costs, enabling companies to sort and arrange vital documents effectively using OCR, which fuels the demand significantly. Furthermore, substantial growth in the government and tech giant's investments to develop more innovative and advanced printing solutions and maintain the manufacturing sector's competitive index is also expected to stimulate demand and growth over the projected period.
Report Segmentation
The market is primarily segmented based on component, organization size, end-use, and region.
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By Component |
By Organization Size |
By End-Use |
By Region |
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Software segment accounted for the largest market share in 2022
The software segment accounted for a significant global market share in 2022 and is likely to retain its position over the study period. The growing use of advanced printing software across a wide range of industry verticals to effectively design objects, along with the increasing number of manufacturing companies across the globe that are shifting away from conventional printing methods and practices, are major factors driving the global segment market. Moreover, growing integration and introduction to cloud-based software in the technology sector, as these types of software can easily deploy through a simple process even at lower costs, thereby influencing the market growth.
The services segment is expected to expand at the fastest growth rate over the coming years on account of its increasing adoption among a large number of industries to find out the actual cost per page, discover the true cost of ownership for each type of printer, error, and also history reports. It further helps optimize the fleet for enhanced workflows and easy-to-use web interfaces and allows the teams to do their jobs efficiently, which will likely positively impact the segment market growth.
Small and medium-sized enterprises segment is expected to witness highest growth in 2022
The small and medium-sized enterprises segment is projected to grow at fastest CAGR during the anticipated period, which is highly accelerated by continuously growing investment and high focus on deploying new advance printing solutions developed by major technology companies across the globe. In addition, growing emphasis on properly managing the vast and sophisticated printing and improved networking systems and continuously surging need to preserve and secure the digital data along with this, increasing proliferation for decreasing the paper waste and also carbon emissions, which in turn, fueling the demand and growth of the segment market over the next coming years.
Retail segment held the significant market share in 2022
The retail segment held a considerable market share in revenue in 2022, mainly driven by increased adoption of these software services among retailers across the globe to provide a variety of improved services, including customer communications, content management, and operational workflow automation. Additionally, a rapid growth in the number of security data threat scenarios and data loss cases in the retail industry, coupled with the evolving use of electronic devices mainly for printing labels and receipts, is further projected to fuel market growth.
The BFSI segment will likely expand at the fastest growth rate throughout the projected period. The growing awareness regarding the benefits of using innovative printing software solutions in the banking & financial sector in terms of customized report printing, centralized print management, reduced printing costs, and secure printing, among others, are expected to be the major factors influencing the demand and growth in the upcoming years.
The North America region dominated the global market in 2022
The North America region led the market for printing software in 2022 and is projected to maintain its dominance throughout the study period. The regional market growth is mainly attributed to high technological advancements, early adoption of innovative solutions, equipped and highly developed infrastructure, and the ability to afford printing software systems, especially in countries like the US and Canada. In addition, the growing number of newly established programs to raise awareness of managed print services will further fuel the market growth in the region.
The Asia Pacific region is expected to be the fastest growing region in the global market over the coming years, which is highly accelerated by the increasing need for innovation, flexibility, agility, and speedy business processes and high prevalence among key market players to manage and prevent their confidential documents from unauthorized access. Additionally, the expansion of the printing software market, mainly in major developing nations of the region like China and India, will be aided by a rapid surge in the number of start-ups and government funding for developing advanced products and services.
Competitive Insight
Some of the major players operating in the global market include Canon Inc., Hewlett-Packard Development Company, Nuance Communication, Honeywell International Inc., HID Global, Ringdale UK Ltd., Print Manager, PaperCut Software International, ePaper Ltd., Autodesk Inc., AND Technologies Inc., PrinterLogic, Process Fusion, Xerox Corporation, ThinPrint GmbH, KOFAZ Inc., and 3D Systems Inc.
Recent Developments
- In November 2022, Markforged introduced new simulation software for 3D carbon fiber printing. The newly developed software allows the company's customers to easily adopt the “Digital Forge” deep into the production & manufacturing operations by eliminating various mission-critical tools and efficiently optimizing the 3-D printed composite parts with fiber reinforcement.
- In July 2021, Dyndrite, a leading 3D printing software developer, introduced its new set of software that support-free 3D printing and many other functions. The new software has been developed in collaboration with the company’s OEM customers and the Dyndrite Developer Council partners and is available as a part of Accelerated Computation Engine Toolpathing API.
Printing Software Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 1,700.92 million |
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Revenue forecast in 2032 |
USD 6,781.17 million |
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CAGR |
16.61% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019– 2021 |
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Forecast period |
2023– 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
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Segments covered |
By Component, By Organization Size, By End-User, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Canon Inc., Hewlett-Packard Development Company, Nuance Communication, Honeywell International Inc., HID Global, Ringdale UK Ltd., Print Manager, PaperCut Software International, ePaper Ltd., Autodesk Inc., AND Technologies Inc., PrinterLogic, Process Fusion, Xerox Corporation, ThinPrint GmbH, KOFAZ Inc., and 3D Systems Inc. |
FAQ's
The global printing software market size is expected to reach USD 6,781.17 million by 2032.
Key players in the printing software market are Canon Inc., Hewlett-Packard Development Company, Nuance Communication, Honeywell International Inc., HID Global, Ringdale UK Ltd., Print Manager, PaperCut Software International.
North America contribute notably towards the global printing software market.
The global printing software market expected to grow at a CAGR of 16.61% during the forecast period.
The printing software market report covering key segments are component, organization size, end-use, and region.
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