Industry Background:
Cloud Fax Services is an easy, less costly cloud-based substitute to conventional fax machines and servers. It is a modern communication method which propels the users to send, receive and store faxes in a central location on the internet. By the two different modes of payments namely per-fax charge or a monthly subscription fee, users can access their messages through a single username and password online. Hence enhancing the no need for paper wastage of ink. This faxing service gives a streamlined faxing technique while decreasing the overall faxing costs. Thus due to the aforementioned reason, it is observed that the concept of faxing is anticipating in 2020 will continue an ongoing trend of growth in the cloud faxing industry that's expected to last into 2025.This growth is primarily driven by Surging Shifting of Industries Towards Cloud Fax Services globally, Increasing in Digitisation across the Globe and Increased Adoption of Cloud-Based Communication and Collaboration Platforms.
Globally, a noticeable market trend is evident Adoption of FOIP (Fax over Internet)
. Major Players, such as J2 Global (United States), Open Text (Canada), Softlinx (United States), CenturyLink (United States), Biscom (United States), Esker (France), Concord Technologies, XMedius (Canada) and Retarus (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
eFax Corporate Launched a Fax Router feature for digital cloud fax technology. The eFax corporate Fax Router is a customizable Windows application that allows auto-download and simultaneous distribution of faxes from multiple numbers. Based on the user-defined configuration and fax metadata, faxes can be automatically saved to folders, auto-printed, and distributed to designated departments or locations.
Regulatory Insights:
"Regulations like the Junk Fax Prevention Act from 2005 were just the start of governmental oversight for online faxing. Continued HIPAA regulations for companies in the healthcare sector, as well as data privacy laws like the European Union's General Data Protection Regulation (GDPR), will have a continued effect on online faxing. In the coming years, expect companies like J2 Global to continue pushing for higher data security and privacy standards to meet regulations and potentially head legislators off at the pass".
Market Drivers
- Surging Shifting of Industries Towards Cloud Fax Services globally
- Increasing in Digitisation across the Globe
- Increased Adoption of Cloud-Based Communication and Collaboration Platforms
Market Trend
- Adoption of FOIP (Fax over Internet)
- Continuation of Federal Security Requirement Towards Cloud Fax Services
Restraints
- High Cost of Manufacturing
- Security Risk for Data Breaching
Opportunities
Focusing on the Internet Infrastructure to Introduce Fast and Cost-Effective Solutions and Integration of Communication Systems and Collaboration Platforms such as Data and Voice Services
Challenges
Stringent Cyber Security Regulations and Lack of Skilled Professional for IT Development
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Cloud Fax Services Study Sheds Light on
— The Cloud Fax Services Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Cloud Fax Services industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
— Where Cloud Fax Services industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
— How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.