Dublin, Jan. 21, 2022 (GLOBE NEWSWIRE) -- The "Fax Services Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The report considers the present scenario of the fax services market and its market dynamics for the period 2022-2027. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyses leading companies and several other prominent companies operating in the market.
Fax services have evolved significantly over the past two decades, and organizations are still using around 10% of conventional fax. Thereby, the use of fax machines still exists among users across the world. A major development of the modern fax system was the result of digital technology, where the analog signal from scanners was digitized and then compressed, resulting in the ability to transmit high rates of data across standard phone lines.
he use of on-premises FOIP solutions is still higher among large enterprises worldwide. The increase in the adoption of cloud-based VOIP services can lead to the growth of hybrid fax services, thereby anticipated to increase the fax services market.
SEGMENTATION ANALYSIS
Large enterprises consist of an employee base of more than 50 and include Fortune 1000 companies. The large enterprise segment is one of the highest revenue contributors to the global automated fax market. In addition, large enterprises are the major contributor to the international faxing revenue.
The revenue for the online fax market is generated through small and medium healthcare clinics, insurance companies, and legal adversaries. There are atleast 30-35% of SMEs still using on-premises fax infrastructure solutions. Several individual users with frequent fax requirements (10 pages per month) will opt for services that cost less than USD 5 per month with no hidden cost, which in turn, will boost the market demand across the globe.
GEOGRAPHICAL ANALYSIS
The Canadian market is expected to grow significantly in the upcoming years. According to the leading Canadian online fax provider, it witnesses at least 1,000 new customers for its services every month in the North American region. Therefore, North America will continue to be a major revenue-generating region in the fax service market during the forecasted period.
Increasing adoption of online fax services through the integration of fax solutions with document management or cloud communication software is expected to accelerate the market for fax services in the Middle East and Africa.
VENDOR ANALYSIS
Prominent players with a dominant presence in the market include Consensus Cloud Solutions, Biscom, Dropbox, RingCentral, and OpenText. Major vendors are adopting innovative technologies to retain their market position.
Biscom, a provider of computer-based enterprise fax management and document conversion and communications solutions, acquired vVault, one of the leaders in providing mobile productivity applications and software infrastructure.
KEY MARKET DYNAMICS
- Technological Convergence
- Role of New Technologies
- Digital Transformation
- Replacement of On-premises with Cloud Fax
- Flexibility & Scalability of Internet Fax
- Automation of Fax Workflow
- Regulatory Compliance
- Data Security and Portability
COMPETITIVE LANDSCAPE
Prominent Vendors
- Consensus Cloud Solutions
- Biscom
- Dropbox
- RingCentral
- OpenText
Other Prominent Vendors
- Concord
- ActFax
- Alhambra
- MDaemon Technologies
- Celo
- Copia
- Esker
- etherFAX
- Extracomm
- EC Data Systems
- Faxcore
- GFI Software
- iFAX
- Imagicle
- Upland
- Utbox
- Softlinx
- PamConsult
- Retarus
- OceanX Technology
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope Of The Study
4.4 Market Segments
4.4.1 Market By User Type
4.4.2 Market By Service Type
4.4.3 Market By Industry-Users
4.4.4 Market Segmentation By Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.1.1 Increased Awareness About Operating Green Office Environment
7.1.2 Migration To Cloud-Based Faxing Model
7.1.3 Increased Migration To Hybrid Fax Solutions
7.1.4 Evolution Of Fax Services
7.1.5 Fax Servers
7.1.6 Consumer Preference
7.2 Covid-19 Scenario
7.3 Historical Data
8 Market Opportunities & Trends
8.1 Technological Convergence
8.2 Role Of New Technologies
8.3 Digital Transformation
8.4 Replacement Of On-Premises With Cloud Fax
9 Market Growth Enablers
9.1 Flexibility & Scalability Of Internet Fax
9.2 Automation Of Fax Workflow
9.3 Regulatory Compliance
9.4 Data Security & Portability
10 Market Restraints
10.1 Unstructured Data
10.2 Presence Of Effective Alternatives To Fax
11 Market Landscape
11.1 Market Overview
11.2 Five Forces Analysis
11.2.1 Threat Of New Entrants
11.2.2 Bargaining Power Of Suppliers
11.2.3 Bargaining Power Of Buyers
11.2.4 Threat Of Substitutes
11.2.5 Competitive Rivalry
12 User Type
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Large Enterprises
12.4 Small & Medium Enterprises (SMEs)
12.5 Individuals & Home Offices
13 Service Type
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 On-Premises Fax Solutions
13.4 Cloud-Based Fax Services
13.5 Hybrid Fax Solutions
14 Industry-Users
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Healthcare
14.4 Banking, Financial Services & Insurance (BFSI)
14.5 Legal
14.6 Manufacturing
14.7 Others
15 Geography
15.1 Market Snapshot & Growth Engine
15.2 Geographic Overview
For more information about this report visit https://www.researchandmarkets.com/r/rdcsz7
