The global cloud printing services market is anticipated to be valued at USD 1,521.5 million in 2023, forecast to grow at a CAGR of 11.7% to be valued at USD 4,614.1 million from 2023 to 2033. From 2018 to 2022 a CAGR of 9.6% was registered for the biscuit mixes market.
| Data Points | Key Statistics |
|---|---|
| Growth Rate (2018 to 2022) | 9.6% CAGR |
| Expected Market Value (2023) | USD 1,521.5 million |
| Anticipated Forecast Value (2033) | USD 4,614.1 million |
| Projected Growth Rate (2023 to 2033) | 11.7% CAGR |
Cloud printing enables businesses to satisfy print-on-demand requirements while also lowering printing costs and eliminating the need to purchase, deploy, and manage gear and software. Cloud printing services save time by allowing users to instantly locate a printer and print from their own device without the need for driver installation.
Cloud printing connects printer units to computers, smartphones, tablets, and workstations. It has eliminated conventional printing hurdles such as software driver issues, compatibility concerns, and device connectivity issues.
Also, cloud printing reduced printing costs and the need to buy, deploy, and manage hardware and software. Cloud printing services save time by quickly finding a printer and printing from one’s own device without the need to set up driver installations.
The global demand for cloud printing services is projected to increase at a CAGR of 11.7% during the forecast period between 2023 and 2033, reaching a total of USD 4,614.1.0 million in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 9.6%.
Cloud printing allows users to connect any digital device to a printing station via network connectivity such as wi-fi, Bluetooth, TCP-IP, and many more, allowing them to print papers and other items on a device to the cloud. This aspect of cloud printing allows for greater flexibility inside the corporate premises.
Cloud printing eliminates the need for customers to invest in in-house servers, hardware, and software for document printing or other purposes, lowering the cost of deploying, maintaining, and replacing gear and software.
These assist firms or enterprises in lowering their operating and capital expenditures. It gives consumers control over printing and delivers rapid and efficient printing, which helps to decrease paper waste and carbon emissions.
Many cloud printing service providers give service level agreements that ensure year-round 24/7 availability, which helps to decrease downtime and issues. Geographical restrictions and physical linkages, which were previously necessary, have been eliminated by new cloud printing technology.
Printing critical papers, photos, PDFs, and other files from anywhere and at any time is possible by sending a print request from their digital devices via cloud technology, which is projected to enhance the industry in the near future.
Increasing Penetration of Mobile Devices to Boost Market Growth
The increased usage of cloud printing services in small and medium-sized businesses also contributes to market development. With increased business efficiency and the penetration of mobile devices, the mobile workforce is expanding, needing continual and secure internet connection as well as a decrease in infrastructure maintenance expenses. These are some of the primary drivers of the cloud printing services industry.
Cloud printing services are extensively utilised in numerous end-user industries such as information technology, healthcare, education, hospitality, manufacturing, logistics & transportation, government, financial services, telecommunication, and others due to its flexibility.
Privacy Concerns to Hinder Market Growth
Despite the fact that the cloud printing services market offers multiple end-uses, there are numerous barriers to market expansion. The cloud printing services industry is constrained by data-protection difficulties, privacy concerns, and management that necessitates thorough reporting on user activity.
The most significant obstacle to the cloud printing services market is constantly changing technology and platforms, which may impede market growth.
Another factor that is expected to negatively influence the growth of the cloud printing services market over the forecast period is a lack of understanding of the operational effectiveness and other benefits of technologically sophisticated systems.
Cloud printing services, such as a LAN or WAN, need a powerful internet connection. Inadequate network infrastructure in underdeveloped nations may provide a barrier to market expansion.
Rapid Technological Progress and a Rising Number of Enterprises to Boost Market Growth
North America was the largest market for cloud printing services, and this trend is likely to continue throughout the projection period due to the region's increasing digitization. The region is expected to account for 36.7% of the cloud printing services market.
North America is predicted to be the next dominating region with strong adoption rates for the cloud printing services market. With rapid technological progress and a rising number of enterprises in North America, the region's need for cloud printing services is expected to expand. Furthermore, rising sales of mobile phones, tablets, and laptops in the area contribute to the market's expansion.
The Presence of Well-Known Cloud Printing Services Market Manufacturers to Widen Growth Prospects
According to Future Market Insights, due to the region's expanding business sector, Europe is predicted to create enormous potential prospects for the cloud printing services market. The market for cloud printing services is predicted to increase steadily throughout the forecast period.
Europe accounts for 17.9% of the worldwide market for cloud printing services. The number of organisations and enterprises in the country is expanding as technology investments increase. The presence of well-known cloud printing services market manufacturers and providers boosts Europe's cloud printing services industry as well.
Public Cloud Printing Services Remains the Most Preferred Cloud Type in the Market
The public cloud printing services segment led the worldwide cloud services market share by cloud type in 2020 and is likely to retain its dominance in the following years. This is mostly owing to the fact that the public cloud printing services category is the most often used cloud type due to its ease of use and low cost.
However, the private cloud printing services segment is likely to develop the fastest, as private firms use cloud services to build assets. Thus, by cloud type, public cloud printing services are expected to hold 30% market share in 2022 for cloud printing services market.
Information Technology Segment to Have the Highest Demand
The information technology segment is projected to use cloud printing services on a significant scale because cloud printing services increase company cooperation and allow team members to share information simply and securely.
In addition, the cloud provides the security of quick data recovery and huge data centres capable of failover in the event of outages. Thus, by vertical, information technology segment is expected to hold 20% market share for cloud printing services market in the forecast period 2023 to 2033.
UniPrint Infinity, Printix, pharos Xerox, AirPrint, and Lexmark are some of the startup firms in the cloud printing services sector. Given the rising reliance on cloud-based platforms, particularly in the last two years, organisations are searching for effective solutions to assure business operations continuity.
IMS Group Ltd., Google Inc., UniPrint.net, Kyocera International, Inc., ezeep GmbH, Genius Bytes Software Solutions, Cortado Inc., and Cirrato Technologies AB are some of the main players in the worldwide cloud printing services market.
Because of the large number of competitors, the market is extremely competitive. While global giants such as IMS Group Ltd., Google Inc., and UniPrint.net command a sizable market share, various regional players are also active in important development regions, notably Asia Pacific.
Recent Developments
| Report Attributes | Details |
|---|---|
| Market Value in 2023 | USD 1,521.5 million |
| Market Value in 2033 | USD 4,614.1.0 million |
| Growth Rate | CAGR of 11.7% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
Cloud Type, Platform, Vertical, Region |
| Regions Covered |
North America; Latin America; Europe; Middle East and Africa; Asia Pacific |
| Key Countries Profiled |
United States, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Australia, GCC, South Africa, Israel |
| Key Companies Profiled |
IMS Group Ltd.; Google Inc.; UniPrint.net.; Kyocera International, Inc.; ezeep GmbH; Genius Bytes Software Solutions; Cortado Inc.; Levi Ray & Shoup |
| Customization | Available Upon Request |
The market is valued at USD 1,521.5 million in 2023.
The market will expand at an 11.7% CAGR through 2033.
The growing use of mobile devices is driving growth.
From 2018 to 2022, the market expanded at a 9.6% CAGR.
Public cloud printing services is the key cloud type.
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Cloud Printing Services Market
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