A market research company has released its forecast of the leading vendors and detailed segmentations of the global output management software market between 2017 and 2021.
The analysts at Technavio, the market research company, predict that the global output management software market is expected to rise at a CAGR of close to 3% between 2017 and 2021. The growth in the market was driven by the push for major cost reduction in the IT department.
According to Technavio, companies are opting to outsource their output management activities such as the printing process and document management to Asia. The research firm explains that this has become one of the latest trends in the output management software market. The outsourcing helps companies to focus more on R&D and the product itself, rather than spending time and resource on print-related activities.
The outsourcing primarily occurs in operational print activities such as printing of materials including memos, brochures, stationary, and manuals.
The research company has also named the leading global vendors dominating the market, among whom were HP, KYOCERA, Lexmark, LRS, Pitney Bowes, Ricoh and Rochester Software Associates.
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