Output Management Software Market Fostered by Emerging Trend of Automation

Output management software (OMS), also known as enterprise output management, refers to a collection of computer applications that centralizes and automates document management. This software utilizes a point-and-click designer interface through which standard output is automatically converted into more attractive, functional, and efficient electronic documents. These documents can then be intelligently distributed over a variety of delivery channels, including print, email, fax, web or document management archive. According to IMARC Group, the global output management software market size reached US$ 53.6 Billion in 2019.

The numerous advantages offered by OMS represent one of the major growth-inducing factors. OMS aids in enhancing the efficiency of administrative tasks by integrating workflow management systems and assisting in improving regulatory compliance. Along with this, the growing information technology (IT) industry and rising need for business process automation have encouraged various business organizations to rapidly adopt OMS. This enables them to efficiently and cost-effectively manage high-volume business document distribution from virtually any source to any destination across the distributed enterprise, thereby eliminating the requirement for additional printing devices across multiple organizational departments.

Furthermore, OMS finds application in healthcare centers wherein it helps clinicians in gaining convenient access to large amounts of data and ensuring the seamless delivery of system-generated documents to the patients. Moreover, with the advancements in technology, several leading companies are developing advanced software systems. For instance, DocPath has designed DocManager, a complete document management software that offers the storage of business data and documents in different formats and versions for later, real-time retrieval. Using this mechanism, the company avoids in-house printing and printed mail delivery of documents. Looking forward, the market is further projected to reach a value of US$ 62.7 Billion by 2025, expanding at a CAGR of 2.6% during the forecast period (2020-2025).

Solutions exhibit a clear dominance in the global market

Based on the component, the market has been bifurcated into solutions and services. At present, solutions, which include online report viewing, flexible report distribution, subject indexing and others, represent the most popular OMS components.

Cloud-based IVA accounts for the majority of the market share

The market has been segregated on the basis of the deployment type into cloud-based and on-premise OMS. At present, cloud-based OMS dominates the market, holding the largest market share. This cloud-based software can run in public, private or hybrid cloud environments and also be installed on-premises, thereby enhancing hardware independence.

Large enterprises dominate the market

On the basis of the organization size, the report finds that OMS is mostly used in large enterprises, followed by small and medium enterprises. Large enterprises use OMS as it helps them improve the efficiency of administrative tasks by integrating workflow management.

Banking, financial services and insurance (BFSI) represents the largest segment

The market has been categorized based on the application into BFSI, manufacturing, healthcare, education and others. Amongst these, banking, financial services and insurance (BFSI) represents the largest segment owing to their high demand in automated customer support services.

North America holds the leading position in the market

Asia Pacific, which includes China, Japan, India, South Korea, Indonesia, Australia and others, currently holds the leading position in the market. This can be attributed to the growing trend of outsourcing these services and the technological advancements taking place across the region. Other major markets are North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.

The competitive landscape of the market has also been analyzed, with some of the key players being:

Broadcom Inc. (CA Technologies)

DocPath Document Solutions

S.L., Hewlett-Packard (HP) Development Company L.P.

Kyocera Corporation

LBM Systems

LLC, Levi Ray & Shoup Inc.

Lexmark International Inc,

Quadient Group

Plus Technologies LLC

Ricoh Company Ltd.

Rochester Software Associates (RSA) Inc.

Other Report by IMARC Group:

Storage Software Market Report 2020-2025

Imarc Group is a leading market research and consulting company that offers management strategy and market research worldwide.