Fax Services Market | Industry Analysis, Growth, Price, Report and Forecast 2020-2027

Fax services are used to transfer personal and business documents through fax machines, fax servers, and online fax.The global fax services market is expected to cross $2.8 billion, growing impressively at a CAGR of more than 9% during 2016−2022. The use of computer-based analog fax continues to decline, whereas FOIP (Fax over Internet Protocol) connectivity is likely to prevail till the end of the forecast period. The use of on-premises FOIP solution is still higher among large enterprises worldwide. The increase in the adoption of cloud-based VOIP services is likely to lead to the growth of hybrid fax services, thereby declining the deployment of traditional on-premises fax services.

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Fax Services Market: Key Vendor Analysis
Global players are likely to grow inorganically by acquiring regional or local players

The fax services market is becoming competitive due to the evolution of cloud-based faxing technology. Many vendors offering on-premises solutions that integrate office and individual fax machines are now involved in offering cloud-based faxing solutions without the need to separate fax hardware and software. Open Text is the leading provider of on-premise fax solution, whereas the cloud-based faxing services is dominated by J2 Global. Biscom, eFax, HelloFax, SRFax, Nextiva, Open Text, RingCentral, and XMedius are major vendors profiled in the report.

Fax Services Market: Segmental Overview
The Healthcare sector will contribute maximum revenue

In terms of industry sectors, the use of fax services is high in the healthcare and financial sectors because of the regulatory compliance such as HIPPA and data protection laws. This trend will also continue during the forecast period. There is also a strong contribution from government, education institutions, manufacturing, and law firms to the revenue of the market from across the globe. Small-scale manufacturing, transportation, and logistics providers will enable the growth of the market through adoption of fax services during the forecast period. Similarly, in terms of deployment model, the market will witness more growth in the cloud-based faxing services segment than the on-premises segment. Similarly, the production fax market will be the dominant revenue contributor.
Large enterprises are the major contributors of fax services with 48.6% of share to the market. The market share of the home office users segment is likely to decline during the forecast period because of the growth of SMEs.

Table of Content

1 Research Methodology
2 Research objectives
3 Research Process
4 Report Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
4.3.1 Market Study Considerations
4.3.2 Market Segmentation by Fax Deployment Model
4.3.3 Market Segmentation by User Type
4.3.4 Market Segmentation by Industry Sector
4.3.5 Market Segmentation by Geography
4.3.6 Vendor Selection
5 Report Assumptions & Caveats
5.1.1 Inclusions
5.1.2 Exclusions
5.1.3 Market Study Assumption
5.2 Currency Conversion rate
5.3 Market Derivation

North America will continue to be a major revenue generating region during the forecasted period, with identified growth among SMEs in all industry sectors. In APAC, traditional fax solutions, which include fax machines and on-premises fax solutions are still prevalent. This region also records high growth in the use of desktop software for faxing needs, which is declining the usage of telephony faxing. The adoption of cloud-based fax in APAC is high in countries such as Australia and China. In Europe, the migration to cloud-based and hybrid fax services will be a key driver for the growth of the market. There are also corporate customers that use on-premises fax server solutions hosted in data centers.

Request to Fill The Form To get Sample Copy of This Report:

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”

The report provides a holistic view of the global market, the companies involved in the market, and the factors driving its growth. It also provides information on some of the latest trends that have started to surface and are likely to become strong market driving forces over the next five years. This report also provides the Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further, the report also provides complete value chain analysis of the global market.

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

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