A $2.5 Billion European Market for Document Solutions

A $2.5 Billion European Market for Document Solutions

Summary: 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.

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Doc recently found out that the European market for document solutions is expected to grow to $2.5 billion by 2015, fueled by the need for productivity and cost savings, according to a new study from International Data Corporation (IDC).

In this uncertain economic environment, companies are looking for ways to reduce costs and improve efficiencies. This is driving demand for managed print services and document solutions that enable business process efficiencies and cost controls linked to printing. According to the study, European document solution revenues will grow from $1.6 billion in 2010 to $2.5 billion in 2015.

"Companies of all sizes are focusing on reducing costs and driving efficiencies," said Arnaud Gagneux, director, Imaging Hardcopy and Document Solutions Europe, IDC. "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."

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% compound annual growth rate (CAGR) from 2010 through 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 sub-segments, including authentication and authorization, are experiencing the most significant growth rates during the forecast period.

For more information, you can visit the IDC Website or call Arnaud Gagneux in the UK at +44-208-987-7131.

Topics: Software, Banking, CXO, Data Management, Enterprise Software

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