According to the latest report by IMARC Group, titled “Output Management Software Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global output management software market size reached US$ 53.6 Billion in 2019. Output management software (OMS), also known as enterprise output management, automates and centralizes the production, distribution, formatting and management of documents that are distributed throughout an enterprise. It also integrates scheduling and workflow management systems to automate IT administrative tasks. OMS assists in improving regulatory compliance, enhancing the performance and stability of IT systems, and achieving cost reduction by providing digital channels like email to distribute documents instead of printing.
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Global Output Management Software Market Trends:
The market is currently experiencing steady growth, owing to the growing need for business process automation and minimizing operation costs. OMS increases the flexibility of the IT department by helping them in making timely decisions and quickly implementing them. Apart from this, one of the key trends witnessed in the industry is the outsourcing of services. Some of the leading companies are currently opting to outsource their output management activities, which includes the printing process and document management. This aids them in focusing on research and development (R&D) activities and product development. Furthermore, OMS also finds applications in healthcare centers to help clinicians in gaining convenient access to large amounts of data and ensuring the seamless delivery of system-generated documents to the patients. Looking forward, the market value is projected to reach US$ 62.7 Billion by 2025, expanding at a CAGR of 2.6% during the forecast period (2020-2025).
Market Breakup by Component Solutions:
- Online Report Viewing
- Flexible Report Distribution
- Subject Indexing
On the basic. Component solution type online reporting viewing and printing hold the largest market share.
Market Breakup by Component Services:
- Implementation and Integration
- Training and Education
- Support and Maintenance
Market Breakup by Deployment Type:
- On-premise Segments
Market Breakup by Organization Size:
- Medium enterprises.
Market Breakup by Vertical:
- Financial Services
- Insurance (BFSI)
Market Region Summary:
Region-wise, the market has been segregated into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
The competitive landscape of the market has been examined, with some of the key players being:
- CA Technologies (Broadcom Inc.)
- DocPath Corporation
- HP Development Company LP
- Kyocera Corporation
- LBM Systems Corporation
- Levi, Ray & Shoup Inc.
- Lexmark International Inc.
- Quadient Group
- Plus Technologies LLC
- Ricoh Company Ltd.
- Rochester Software Associates Inc
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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