Output Management Software Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2576
Output Management Software Market size is expected to exhibit a lucrative growth over the forecast period due to the growing need for efficiently producing, managing, and distributing business output information. As the output management software simplifies the management of business output documents by integrating different enterprise workflow management systems, IT administrative tasks can be accelerated resulting in the reduced IT expenditure in enterprises.
The output management software market is defined as a commercial software that enables organizing, enhancing, dynamically routing, securing, and delivering critical business documents created by enterprise management systems such as Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Healthcare Management Systems (HMS), and accounting systems. The software helps in capturing and formatting business information for reliable and secure document delivery in hard copy or electronic form. It minimizes unnecessary printing in enterprises by tracking the document printing and access to enable cost reduction and compliance management.
The numerous benefits offered by the solution also foster the growth of the output management software market. It facilitates the reliable delivery of print jobs to output resources such as printers, fax-destinations, web, and email destinations in distributed and non-distributed space. Through these solutions, administrators manage delivery operations centrally, while eliminating the limitations of point solutions that address the requirements of an independent user. The fast delivery of reports from numerous simultaneous processes or users to many fax machines, printers, emails, and other destinations can be easily managed through these solutions fueling output management software market. Enterprises derive immense value from these solutions in terms of significant reduction in the number of help desk calls, improved on-time performance, accurate tracking, and monitoring of business documents generated from ERP systems, reduced distribution, and shipping costs along with the reduction in network traffic originating from the enterprise’s central website.
North America is expected to hold the majority share of the output management software market over the forecast period due to the robust growth in the BFSI sector in the region along with the rising adoption of solutions by the healthcare industry in the U.S. As the region is witnessing a rapid digitization in the healthcare sector due to favorable government initiatives, it is expected to dominate the global output management software market between 2018 and 2024. Asia Pacific output management software market is expected to register accelerated growth during the forecast period due to a growing trend among enterprises in North America and Europe to outsource output management functions, such as print management, to the companies operating in Asia Pacific. The outsourcing allows these companies to focus on their core competencies such as research and development, product designing, and commercialization.
The companies operating in the output management software market focus on product development and aim at introducing tailor-made solutions for specific applications in a diverse range of customer segments. For instance, in November 2017, Lexmark International, one of the leading global providers of imaging solutions introduced the Lexmark Advanced Output Management solution for the healthcare sector. The system provides an advanced queue management software coupled with durable, easy-to-use Lexmark printers to provide highly accurate, reliable, and fast delivery of healthcare information. Similarly, in June 2016, Neopost, a global provider of mailing, shipping, and document management solutions announced the availability of the version 5 of its OMS-500 output management software solution, which enables Small and Medium Enterprise (SMEs) to efficiently manage their customer-oriented communication functions across digital and physical channels.
Some of the companies operating in the output management software market are Lexmark, Levi, Ray & Shoup (LRS), CA Technologies, Ricoh, Neopost, KYOCERA, DocuMatrix, HP Development Company, Plus Technologies, Barr Systems, Rochester Software Associates, Pitney Bowes, OpenText, Nuance, Formate, Fuji Xerox, and Unisys.
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