Facts and Factors Market Research has published a new report titled “Mailroom Management Software Market By Type (On-Premise and Cloud-Based) and By End-User (Small Business, Large Business, and Medium-Sized Business): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”.
According to the report, the global mailroom management software market was valued at approximately USD 321 million in 2018 and is expected to reach a value of around USD 466 million by 2027, at a CAGR of around 4.2% between 2019 and 2027.
Any organization, big or small, requires effective handling of document flow that is both inbound and outbound. These documents facilitate the effective functioning of any business and are integrated with the routine activities of the firm. Moreover, mailroom management software can also successfully handle huge volumes of organizational data. In addition to this, proficient mailroom management software helps in automation of complicated processes like receiving, sorting, and distribution of all inbound mail in the current business scenario. It also helps in saving the time of the firms.
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Diminishing operational costs to drive market growth
With mail management software being totally automated, the requirement of the human hand is not required to perform a task. This helps in saving the time as well as the utilization of the resources and thus facilitates the reduction of the personnel costs. This, in turn, will push the growth of the mailroom management software industry over the forecast timespan.
Moreover, automation helps in reducing the possibility of human error and thereby increasing accuracy. Apart from this, the mailroom management software helps in improving customer service as it avoids communication interruptions or breakdowns. It also ensures that the firm and the existing & potential customers of that firm receive the required mail. All these aspects are predicted to steer market demand over the forecast period. Nonetheless, technological breakthroughs in the email are likely to obstruct the expansion of mailroom management software industry over the forecast timeline.
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Cloud-based type segment to dominate the overall market expansion
The cloud-based type segment is projected to record the highest CAGR of nearly about 6.5% over the forecast period. It is also projected to accrue huge revenue during the projected timeline. The segmental growth is credited to the beneficial characteristics of the cloud-based software such as anywhere & anytime access. Apart from this, the cloud-based type does not incur any upfront expenses and offers software support along with providing daily backups.
Large Business to lead the end-user segment over the forecast period
In large businesses, outsourcing of the mailroom can help in acquiring immediate advantages in the form of cost-savings along with saving time and increasing output. All these aspects will help the large business segment to dominate the overall market share over the forecast period.
North America to account for major revenue of the overall market by 2027
North American market is predicted to accrue revenue of nearly USD 180 million by 2027. The regional market growth is credited to the huge presence of key market players in countries like the U.S. Moreover, the thriving IT sector in the U.S. has contributed notably towards the growth of the regional market. In addition to this, a huge customer base inclined towards the usage of technologically advanced customer interface software will further embellish the regional market surge during the forecast timeline.
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The key players included in this market are iOFFICE, Mail Labs, Ricoh, Notifii, iPostal1, Earth Class Mail, Inc., EZTrackit, SIERRA ODC Private Limited, Pitney Bowes, Kofax, Inc., Stamps.com, Inc., ERP FM, and Envoy.
This report segments the mailroom management software market as follows:
Global Mailroom Management Software Market: By Type Segment Analysis
Global Mailroom Management Software Market: By End-User Segment Analysis
- Small Business
- Large Business
- Medium-Sized Business
Global Mailroom Management Software Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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