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Cloud print technology allows users to print via web-connected devices over the network using cloud computing technology. These web-connected devices can be smartphones, tablets, PCs among others. As the printer and its devices are connected through the cloud, this reduces the requirement of external cable or connectivity. Cloud printing providers are offering complete safe, secured, and faster printing practices.
The cloud printer is witnessing rapid adoption amongst the small and medium enterprises owing to its cost-effective and efficient services. The large enterprises might tend to adopt cloud print services to a large extent as it saves the operational costs, boost productivity, reduces the burden of connections, and more. The cloud printer offers work flexibility in the organization, thus it is majorly adopted across industries such as government, BFSI, healthcare, IT and telecom, retail, and others. This is likely to boost the demand for the cloud print in near future.
Key Market Driver -
• Rising inclination towards cloud-based solutions is likely to drives the market.
Key Market Restraint -
• The rising privacy issue is expected to hamper the adoption in the market
Additionally, the prominent providers of the market are also launching compact and affordable printers for personal usage at home. It can be anticipated that the cloud printer will enable the provisions of secure home printing solutions for work-from-home employees amid COVID -19. It is expected that post-pandemic there will be a rise in cloud-enabled digital workflow services.
Some of the key players in the global cloud print market are Google LLC, Microsoft Corporation, HP Inc., Xerox Corporation, Amazon.com, Inc., ePRINTit.com, Konica Minolta Business Solutions, Process Fusion (UniPrint.net), ezeep GmbH, ThinPrint Cloud Services, Inc. among others. The players in the market are adopting the acquisition and partnership strategies to expand product portfolios.
The global cloud printer market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is expected to have a major share in the cloud printer market. US is likely to witness significant growth for the forecast period. Also, US accounts for the significant share of cloud printer providers such as Google LLC, Microsoft Corporation, Xerox Corporation, and HP Inc, among others are likely to boost the demand for the services. These dominant players are entering into a strategic partnership with the businesses in the country to expand its product portfolio.
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Europe is expected to gain a major share of the market followed by North America. The rising competition of the local players is boosting the demand for the cloud printing services in the region. Additionally, the European Commission launched the European Cloud Initiative in 2016 to strengthen its digital and cloud infrastructure. It is anticipated that these factors will promote market growth in the forecast period. Asia Pacific is expected to have rapid growth in the cloud printer market for the forecast period.
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