Shibuya-ku, Tokyo, Japan, Japan, Feb 04, 2021, 02:15 /Comserve / -- The Global Online Fax Market. Ringcentral, Efax, Hellofax, Srfax, Nextiva, Open Text Are Major Vendors Profiled In The Report
The global online fax market is expected to cross $2.4 billion, growing impressively at a CAGR close to 11% during 2016−2022. Many organizations across the world still believe faxing is a securer way of communication than other modern methods. This is likely to aid in the growth of the market during the forecast period.
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Online Fax Market: Key Vendor Analysis
International players are likely to grow inorganically by acquiring regional or local players
The market for internet faxing is becoming competitive due to the evolution of cloud-based faxing technology. J2 Global, the owner of eFax, is a leader in the global online fax market. RingCentral, eFax, HelloFax, SRFax, Nextiva, Open Text are major vendors profiled in the report.
Online Fax Market: Segmental Overview
Healthcare sector will contribute maximum revenue
In terms of industry sectors, the use of online fax services is higher 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 online fax services during the forecast period.
Large enterprises are the major contributors of online fax services with 48.6% of share to the market. The market for home office users will decline during the forecast period because of the growth of their organizations, and hence adding more revenue to the SME markets.
Online Fax Market: Geographical Analysis
North America to account for the largest market share
North America is likely to be the largest market followed by Europe. The availability of local and toll-free number in the North America region at no extra cost for the basic plan is major boost to the market. The healthcare sector in North America is likely to contribute the maximum revenue chunk to the online fax market in the region. In Europe, the online fax services market has witness a high growth in the UK, Germany, and France. The APAC region will witness tremendous growth during the forecast period. In the RoW region, the adoption of online fax service is expected to grow during the forecast period only through integration of fax solutions with document management or cloud communication software.
Table of Content
1 Research Methodology
2 Research objectives
3 Research Process
4 Report Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
4.3.1 Market Segmentation by User Type
4.3.2 Market Segmentation by Industry Sector
4.3.3 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1.1 Inclusions
5.1.2 Exclusions
5.2 Currency Conversion rate
5.3 Market Derivation
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"The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market)."
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.
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