Market Overview:
The global fax services market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for cloud-based fax services and hybrid fax solutions. The healthcare sector is expected to be the fastest-growing application segment during the forecast period, followed by BFSI and legal applications. North America is expected to hold the largest share of the global fax services market in 2018, while Asia Pacific is projected to be the fastest-growing region during the forecast period.
Product Definition:
Fax Services is a technology that allows the transmission of scanned documents or images over telephone lines. Fax Services are used to send and receive text, graphics, and photos from one fax machine to another. Fax machines have been largely replaced by email and other digital communication methods, but they are still used in some businesses for sending signed documents or for sending large files that cannot be sent through email.
On-premises Fax Solutions:
On-premises fax solutions are computer software and related hardware that allows users to send and receive documents via fax. The solution is installed on the end user's computers or devices directly. It offers benefits such as easy accessibility, affordability, reliability, security from cyber threats & data theft along with high quality of document transmission which increases its demand among businesses for internal as well as external communications.
Cloud-based Fax Services:
Cloud-based fax services are the electronic documents that are sent by one fax machine to another via a network. The service is provided without any intervention of an operator and it is done automatically. It saves time, paper, and cost for both the companies as well as customers. Cloud-based fax services have replaced traditional methods of sending a document such as facsimile (fax) or printer based printing from one location to another via physical media like tapes or discs.
Application Insights:
The application segment is segregated into seven sub-segments, namely healthcare, BFSI, legal, manufacturing, transportation, education and others. In 2017 the BFSI sector dominated the global fax services market with a revenue share of over 30%. The rapid growth of this industry can be attributed to its increasing need for paperless transactions and facilitation of remote business operations. Moreover faxes are being replaced by digital documents which further reduces the demand for fax services in this sector. However involving Fax Services in various industries has increased their security risks as hackers can easily access those systems via internet protocol (IP) address or URL.
The healthcare segment is expected to register a significant CAGR over the forecast period owing to its capability to transmit critical information without any human intervention resulting in enhanced operational efficiency across hospitals and clinics worldwide.
Regional Analysis:
North America dominated the global market in 2017. The growth of this region can be attributed to the presence of a large number of service providers, such as AT&T; and Verizon Communications Inc.; among others. These companies are offering their services through various platforms, such as web-based faxing and mobile applets. Moreover, these companies are investing in research & development activities to develop advanced products for customers. For instance, in September 2018, VistoPay Inc., a U.S.
Asia Pacific is expected to witness significant growth over the forecast period owing to increasing demand from developing countries like India and China along with other countries across Southeast Asia region including Indonesia and Vietnam among others which have high penetration rates for internet users worldwide is anticipated drive regional growth over next eight years or so till 2030 timeframe).
Growth Factors:
- Increasing demand for fax services from small and medium businesses (SMBs) due to its low cost and easy-to-use interface.
- Rapid growth in the number of internet users, especially in developing countries, is expected to drive the fax services market as more people adopt online faxing as a communication tool.
- Proliferation of mobile devices is also expected to boost the demand for fax services, as it allows users to send and receive faxes from anywhere at any time.
- The increasing trend of outsourcing by businesses is also anticipated to fuel the growth of the global fax services market over the forecast period.
- Growing awareness about green technology and its benefits is likely to create new opportunities for players operating in this market over the next few years
Scope Of The Report
Report Attributes
Report Details
Report Title
Fax Services Market Research Report
By Type
On-premises Fax Solutions, Cloud-based Fax Services, Hybrid Fax Solutions
By Application
Healthcare, BFSI, Legal, Manufacturing, Transportation, Others
By Companies
Biscom, eFax, MyFax, Neotel (Lqiuid Telecom), OceanX Technology, Upland Software (Omtool), GoldFax, SRFax, Nextiva, Open Text, Concord Technologies, Crosby Fax, Data on Call, eComfax (Cloud Worldwide Services), Equisys, iFax, Imagicle, InterFAX, Joyhong Software, Kofax, Lane Telecommunication, Messagenet, MetroFax, Monfax - Bjt Partners, ActFax, Alhambra, PamFax, Retarus, RingCentral, XMedius, Esker, EtherFax, Extracomm, FaxAge
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
197
Number of Tables & Figures
138
Customization Available
Yes, the report can be customized as per your need.
Global Fax Services Market Report Segments:
The global Fax Services market is segmented on the basis of:
Types
On-premises Fax Solutions, Cloud-based Fax Services, Hybrid Fax Solutions
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Healthcare, BFSI, Legal, Manufacturing, Transportation, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Biscom
- eFax
- MyFax
- Neotel (Lqiuid Telecom)
- OceanX Technology
- Upland Software (Omtool)
- GoldFax
- SRFax
- Nextiva
- Open Text
- Concord Technologies
- Crosby Fax
- Data on Call
- eComfax (Cloud Worldwide Services)
- Equisys
- iFax
- Imagicle
- InterFAX
- Joyhong Software
- Kofax
- Lane Telecommunication
- Messagenet
- MetroFax
- Monfax - Bjt Partners
- ActFax
- Alhambra
- PamFax
- Retarus
- RingCentral
- XMedius
- Esker
- EtherFax
- Extracomm
- FaxAge
Highlights of The Fax Services Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- On-premises Fax Solutions
- Cloud-based Fax Services
- Hybrid Fax Solutions
- By Application:
- Healthcare
- BFSI
- Legal
- Manufacturing
- Transportation
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Fax Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Fax services are a way to send documents over the telephone. Fax machines print out documents and then send them over the phone line to recipients.
Some of the major players in the fax services market are Biscom, eFax, MyFax, Neotel (Lqiuid Telecom), OceanX Technology, Upland Software (Omtool), GoldFax, SRFax, Nextiva, Open Text, Concord Technologies, Crosby Fax, Data on Call, eComfax (Cloud Worldwide Services), Equisys, iFax, Imagicle, InterFAX, Joyhong Software, Kofax, Lane Telecommunication, Messagenet, MetroFax, Monfax - Bjt Partners, ActFax, Alhambra, PamFax, Retarus, RingCentral, XMedius, Esker, EtherFax, Extracomm, FaxAge.
The fax services market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Fax Services Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Fax Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Fax Services Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Fax Services Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Fax Services Market Size & Forecast, 2018-2028
4.5.1 Fax Services Market Size and Y-o-Y Growth
4.5.2 Fax Services Market Absolute $ Opportunity
Chapter 5 Global Fax Services Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Fax Services Market Size Forecast by Type
5.2.1 On-premises Fax Solutions
5.2.2 Cloud-based Fax Services
5.2.3 Hybrid Fax Solutions
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Fax Services Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Fax Services Market Size Forecast by Applications
6.2.1 Healthcare
6.2.2 BFSI
6.2.3 Legal
6.2.4 Manufacturing
6.2.5 Transportation
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Fax Services Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Fax Services Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Fax Services Analysis and Forecast
9.1 Introduction
9.2 North America Fax Services Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Fax Services Market Size Forecast by Type
9.6.1 On-premises Fax Solutions
9.6.2 Cloud-based Fax Services
9.6.3 Hybrid Fax Solutions
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Fax Services Market Size Forecast by Applications
9.10.1 Healthcare
9.10.2 BFSI
9.10.3 Legal
9.10.4 Manufacturing
9.10.5 Transportation
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Fax Services Analysis and Forecast
10.1 Introduction
10.2 Europe Fax Services Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Fax Services Market Size Forecast by Type
10.6.1 On-premises Fax Solutions
10.6.2 Cloud-based Fax Services
10.6.3 Hybrid Fax Solutions
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Fax Services Market Size Forecast by Applications
10.10.1 Healthcare
10.10.2 BFSI
10.10.3 Legal
10.10.4 Manufacturing
10.10.5 Transportation
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Fax Services Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Fax Services Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Fax Services Market Size Forecast by Type
11.6.1 On-premises Fax Solutions
11.6.2 Cloud-based Fax Services
11.6.3 Hybrid Fax Solutions
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Fax Services Market Size Forecast by Applications
11.10.1 Healthcare
11.10.2 BFSI
11.10.3 Legal
11.10.4 Manufacturing
11.10.5 Transportation
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Fax Services Analysis and Forecast
12.1 Introduction
12.2 Latin America Fax Services Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Fax Services Market Size Forecast by Type
12.6.1 On-premises Fax Solutions
12.6.2 Cloud-based Fax Services
12.6.3 Hybrid Fax Solutions
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Fax Services Market Size Forecast by Applications
12.10.1 Healthcare
12.10.2 BFSI
12.10.3 Legal
12.10.4 Manufacturing
12.10.5 Transportation
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Fax Services Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Fax Services Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Fax Services Market Size Forecast by Type
13.6.1 On-premises Fax Solutions
13.6.2 Cloud-based Fax Services
13.6.3 Hybrid Fax Solutions
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Fax Services Market Size Forecast by Applications
13.10.1 Healthcare
13.10.2 BFSI
13.10.3 Legal
13.10.4 Manufacturing
13.10.5 Transportation
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Fax Services Market: Competitive Dashboard
14.2 Global Fax Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Biscom
14.3.2 eFax
14.3.3 MyFax
14.3.4 Neotel (Lqiuid Telecom)
14.3.5 OceanX Technology
14.3.6 Upland Software (Omtool)
14.3.7 GoldFax
14.3.8 SRFax
14.3.9 Nextiva
14.3.10 Open Text
14.3.11 Concord Technologies
14.3.12 Crosby Fax
14.3.13 Data on Call
14.3.14 eComfax (Cloud Worldwide Services)
14.3.15 Equisys
14.3.16 iFax
14.3.17 Imagicle
14.3.18 InterFAX
14.3.19 Joyhong Software
14.3.20 Kofax
14.3.21 Lane Telecommunication
14.3.22 Messagenet
14.3.23 MetroFax
14.3.24 Monfax - Bjt Partners
14.3.25 ActFax
14.3.26 Alhambra
14.3.27 PamFax
14.3.28 Retarus
14.3.29 RingCentral
14.3.30 XMedius
14.3.31 Esker
14.3.32 EtherFax
14.3.33 Extracomm
14.3.34 FaxAge
