Faxing documents with the use of internet instead of conventional phone lines and fax machines is online fax. Many organizations till date believe in using fax machines to send or receive documents, and not emails as they consider it more secure. The number of industries opting for online faxing is continuously going upwards and this directly contributes to the growth of the global online fax market. Similar to most of the industries, the coronavirus pandemic dented the growth of this market. The global shut down, unavailability of labour and logistics also proved to be a hurdle for this market’s progress.
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Majority of organizations are shifting towards adoption of cloud-based communication and this drives the growth of the global online fax market. This is basically because using this type of faxing brings down total costs related to capital and operational overheads. As online faxing brings in scalability along with flexibility and automated fax workflow are directly contributing to this market’s growth. Also, the fact that cloud-based solutions are not only cost-efficient but also can be accessed from any part of the globe which helps businesses send or receive documents easily.
While the internet is a boon for mankind, the same can hinder the growth of the global online fax market. Online faxing cannot be done from any place where there is no or poor connectivity conditions. This happens to be the only restraining factor that dents this market’s growth. The healthcare sector which is rapidly opting to use of online fax as the nature of documents contains sensitive information about patients as faxing is a more secure option. Also, the fact that many organizations are inclined towards use of products or services and this too drives the growth of the global online fax market.
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Key Takeaways - Global Online Fax Market:
- The services segment of the global online fax market is forecasted to witness the growth at the fastest rate courtesy of the recurrent nature of the revenue generated by this segment.
- The yearly pricing not only accounts for maximum revenue generated by the global online fax market but is also expected to continue the same at the fastest rate.
- Thanks to cloud-based solutions, most of the individuals and home office are now opting to use online faxing and this is exactly why this segment will grow rapidly.
- The region of Asia Pacific is forecasted to witness growth at the fastest rate for the global online fax market. The integration of faxing solutions through management of documents will driving the growth of this market in countries like India and China.
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Few of the major players operating in the global online fax market are listed below:
- Open Text
- Other Market Participants
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Global Online Fax Market
By End Use
- Individual and Home Office
- Large Enterprises
- Small and Medium Enterprises (SMEs)
- Legal & Law Firms
- Banking and Financial Services
- Real Estate
- Schools & Educational Institutes
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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