The market would be driven by the need for productivity and cost savings
As per a new study from International Data Corporation (IDC), entitled EMEA Document Solutions Forecast and Analysis, 2011-2015, the European market for document solutions is expected to reach $2.5bn by 2015, driven by the need for productivity and cost savings.
In the backdrop of the uncertain economic environment, companies are looking for strategies to reduce costs and improve efficiencies. This is triggering demand for managed print services and document solutions that enable business process efficiencies and cost controls linked to printing. According to IDC, European document solution revenues will grow from $1.6bn in 2010 to $2.5bn in 2015.
IDC director Imaging Hardcopy and Document Solutions Europe Arnaud Gagneux said companies of all sizes are focusing on reducing costs and driving efficiencies. "Large corporations and the public sector lead the way and small and medium businesses are now asking for affordable solutions that will help them identify, monitor, and reduce print costs as well as control the way documents are used while streamlining some paper-based processes," added Gagneux.
The total Western European document solutions revenue opportunity, which includes software offered by hardcopy peripheral vendors and independent software companies, is expected to demonstrate an 8.8% CAGR during the period 2010-2015.
The Western European paper/digital document management solutions segment continues to be the largest in dollars. This is expected to increase at a high single-digit compound annual growth rate.
The mobile printing and security software subsegments, including authentication and authorisation, are experiencing the most significant growth rates during the forecast period.