PaperCut has secured top spot in IDC’s Worldwide and U.S Device and Print Management Market Shares for the fourth consecutive year, boasting a 14.7% market share. The print management leader outperformed predictions with its 2023 revenues 5.1% stronger than expected and registering an impressive 17.7% year-on-year growth. Looking ahead, IDC forecasts further growth opportunities as businesses shift towards cloud-based solutions, with PaperCut’s offerings perfectly positioned to meet this demand.
- PaperCut ranked number 1 in IDC’s Worldwide and U.S. Device and Print Management Market Shares for the fourth consecutive year, with a 14.7% market share.
- PaperCut leads all other Independent Software Vendors in Year on Year growth at 17.7% and exceeded its 2023 revenues by 5.1%.
- PaperCut’s solutions align with modern market requirements in the hybrid-working era by focusing on cloud-based offerings, enhanced security, sustainability and easy integration with third-party products.
Another Triumph for PaperCut in the Print Management Market
For the fourth consecutive year, PaperCut has impressively topped the IDC’s Worldwide and U.S Device and Print Management Market Shares, according to their 2023 report. The report details that PaperCut, with a 14.7% market share, outperformed all other Independent Software Vendors, boasting an impressive Year on Year growth rate of 17.7%. PaperCut’s financial performance in 2023 exceeded expectations, with revenues 5.1% stronger than predicted.
Cloud Transition Fuels Growth
IDC forecasts further growth opportunities emerging from the acceleration of cloud-based sales. The report suggests that Small and Medium-sized Businesses (SMBs) are increasingly opting for public cloud solutions, while larger enterprises and governments are transitioning from on-premise to private cloud deployments.
A Cost-Effective Solution
As the economic outlook weakens, IDC anticipates that more organisations will seek to cut costs. One effective way to achieve this is through the implementation of a print management solution, like those provided by PaperCut. These solutions meet the modern market requirements, offering flexibility, enhanced security and easy integration with third-party products and software applications.
A Commitment to Security and Sustainability
In the past 12 months, PaperCut has achieved ISO 27001 and BCorp certification, further asserting its position as a trusted partner in the industry.
Regarding the company’s achievements, Steve Holmes, PaperCut’s Head of Global Sales & Channels/EMEA GM, commented:
“PaperCut has worked extremely hard to make our solutions even more secure as well as easy to buy, deploy, maintain and to use. It is encouraging to see that customers have responded so positively to our efforts as reflected in our performance in the market.”
Final Thoughts
PaperCut’s performance and growth is impressive, particularly in the context of a challenging economic climate. PaperCut’s focus on security and sustainability further sets them apart, making them one of the first options for organisations looking to manage their print needs effectively.
FAQ
Q: What has IDC ranked PaperCut number 1 for, and for how many years in a row?
A: IDC has ranked PaperCut number 1 in its Worldwide and U.S Device and Print Management Market Shares for the fourth year in a row.
Q: What is PaperCut’s market share according to the IDC report?
A: PaperCut holds a 14.7% market share according to the IDC report.
Q: How much was PaperCut’s Year on Year growth percentage according to IDC?
A: PaperCut leads all other Independent Software Vendors in Year on Year growth at 17.7%.
Q: How much stronger were PaperCut’s 2023 revenues compared to the predictions?
A: PaperCut’s 2023 revenues were 5.1% stronger than predicted.
Q: What growth opportunities does IDC predict for PaperCut in the future?
A: IDC predicts growth opportunities from increasing cloud-based sales, migration to private cloud deployments, and organisations looking to reduce costs.
Q: What are some of the benefits of implementing a print management solution according to IDC?
A: One of the benefits of implementing a print management solution is the ability for organisations to analyse and reduce costs.
