Global Cloud Fax Market Size Will Hit USD 947 Million By 2025

Facts and Factors Market Research has published a new report titled “Cloud Fax Market By User Type (Individual & Home Office, Small & Medium Enterprises, and Large Enterprises) and By End-User (Health Sector, Legal Sector, Manufacturing, BFSI, and Transportation & Logistics Sector): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2025”. According to the report, the global Cloud Fax market was valued at approximately USD 462 million in 2018 and is expected to reach a value of around USD 947 million by 2025, at a CAGR of around 10.69% between 2019 and 2025.

Cloud fax is used to receive, send, and store the fax. It requires a desktop or a laptop or a mobile instrument with connectivity to send the information to some type of receiving instrument like smartphone, tablet, or computer at the other end. Additionally, cloud faxing operates more rapidly as compared to other traditional fax machines. It saves time, expenditure on ink & paper, and is eco-friendly.

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Furthermore, cloud faxing is encoded before it is sent at the time of processing & transfer. It is eco-friendly and safer as compared to manual faxing procedures.

Reduction in the capital & operational spending via web-based faxing services to drive the market trends

Cloud fax is a kind of faxing solution that assists the employees in receiving & sending faxes in the form of electronic messages directly through their currently configured emails. Moreover, it annihilates the requirement for fax servers, fax equipment, and infrastructure pertaining to the setting of fax equipment, thereby reducing the fax costs & enhancing the output as well as profits for the firms. All these aforementioned factors are predicted to steer the expansion of the market over the forecast timeline.

Furthermore, cloud fax solutions usually operate or function on a fixed and utilization-based monthly payment also encompassing support activities. This has made cloud fax services cost-efficient. Apparently, fax is sent, received, and stored in the digital form in cloud database, there is no need for physical storage space like office floor. These aspects are expected to prop up the growth of the market over the forecast period.

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Additionally, a rise in the acceptance of cloud-based communication systems & collaborative tools will further aggrandize the growth graph of cloud fax industry over the forecast period. However, growing tendency of the firms to adhere to the old fax machines or old fax technology usage will inhibit the business growth over the forecast period. Nonetheless, escalating BYOD trends will open new growth facades for the market during the forecast timespan.

Large enterprises to lead the user type segment by 2025 in terms of revenue

The growth of the large enterprises segment over the forecast timeline is owing to large-scale utilization of cloud faxing by large or giant firms across the globe.

BFSI segment to dominate the end-user landscape over the forecast period

The segmental growth over the forecast timeline is attributed to the massive usage of cloud computing technology across the BFSI industry. Moreover, cloud faxing can assist the financial organizations in reducing the up-front capital spending through transformation of the total funding into small current operational costs. This will further enrich the market growth over the forecast period.

North America to contribute majorly towards the overall market revenue share by 2025

The regional market surge during the forecast period is credited to swift digitization witnessed in countries like the U.S. Moreover, huge investments made in research activities for developing new technologies will succor the growth of the regional market over the forecast timeline.

Some of the key players in the market include CenturyLink, Concord Technologies, Documo LLC, eFax Corporate, Esker, GFI Software, Integra LTC Solutions, OpenText Corporation, Retarus Group, TELUS, and Xmedius.

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This report segments the Cloud Fax market as follows:

Global Cloud Fax Market: By User Type Segment Analysis

Individual & Home Office
Small & Medium Enterprises
Large Enterprises

Global Cloud Fax Market: By End-User Segment Analysis

Health Sector
Legal Sector
Manufacturing
BFSI
Transportation & Logistics Sector

Global Market: Regional Segment Analysis

North America
U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East and Africa

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