Fax Services Market - Global Outlook and Forecast 2017 - 2022

LONDON, Oct. 18, 2017 /PRNewswire/ -- The global fax services market is likely to cross $2.8 billion by 2022
Biscom, RingCentral,eFax, HelloFax, SRFax, Nextiva, Open Text, and Xmedius are the major players in the market. 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. The deployment of hybrid models is likely to increase during the forecast period.

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Regulated industries such as healthcare and financials are the major end-users of faxing services, followed by legal, manufacturing, logistics, and transportation sectors.

The revenue contribution by the government agencies is also higher and is expected to grow during the forecast period. North America is expected to lead the market followed by Europe.

Report Timeline
? Historic Year: 2014?2015
? Base Year: 2016
? Forecast Year: 2017?2022

Major vendors profiled in the report are as following:
? RingCentral
? Biscom
? eFax
? HelloFax
? SRFax
? Nextiva
? Open Text
? XMedius

Other prominent vendors include ActFax, Alhambra, Alt-N Technology, Cleo, Copia International, Concord Technologies, Crosby Fax, Data on Call, eComfax (Cloud Worldwide Services), Equisys, Esker, EtherFax, Extracomm, FaxAge, FaxCore, GFI Software, GoldFax, iFax, Imagicle, InterFAX, Joyhong Software, Kofax, Lane Telecommunication, Messagenet, MetroFax, Monfax - Bjt Partners, MyFax, Neotel (Lqiuid Telecom), OceanX Technology, Upland Software (Omtool), PamFax, Retarus, Softlinx, Sfax, Utbox.

Scope of the Report
The study considers the present scenario of the global fax services market and its market dynamics for the period 2017?2022. It covers a detailed overview of various market growth enablers, restraints, and trends.

The study covers both the demand and supply side of the market. It also profiles and analyzes the leading 6 companies and 24 other prominent companies operating in the market.

To calculate the market size, the report considers the revenue generated by vendors in the market through subscription of fax services by end-users. It also considers geographical revenue via customer operating locations.

The report provides the analysis of the key segments of the market by user, distribution channel, geography, and vendors. It provides a detailed analysis of revenue from various segments:

Deployment Type
? On-premises fax
? Online fax
? Hybrid fax

User Types
? Individual and home office
? Small and medium enterprises (SMEs)
? Large enterprises

Industry Sector
? Health sector
? BFSI
? Legal sector
? Manufacturing, transportation, and logistics sector
? Other sectors

Application
? Production
? End-user

Major Geographies
? APAC
? EMEA
? Latin America
? North America

Key Countries
? Australia
? Brazil
? Canada
? China
? France
? Germany
? South Africa
? UAE
? UK
? US

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.

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 Dynamics
Increased adoption of cloud-based communication and collaboration platforms to drive the market growth

Increased awareness about operating green office environment, regulatory compliance requiring fax services, flexibility and scalability of internet fax, and increased adoption of cloud-based communication and collaboration platforms are the major factors that are driving the market growth. Further, the report includes the latest trends and opportunities such as high preference for green offices.

With increasing adoption of fax services, the consumption of paper can be controlled to a large extent, which can lead to the greener and cleaner environment. Other trends explained in the report are migration to the cloud-based faxing model, availability of hybrid fax solutions, and vendor consolidation.

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.

Fax Services Market: Geographical Analysis
North America to account for the largest market share followed by Europe

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.

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