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Office Document Solutions Market Forecasted to Grow to $864 Million by 2007, 30% CAGR March 03, 2004 (Norwell, MA) March 03, 2004…The Office Document Solutions Market represents a new and growing niche within the broader market for information technology. CAP Ventures believes that the office document solutions market will grow from $187 million in 2002 to almost $864 million by 2007, representing a compound annual growth rate (CAGR) of 30%.
CAP Ventures’ new forecast entitled 2002-2007 U.S. Office Document Solutions Report: Estimates & Forecast quantifies and defines the current state and future growth prospects for office document solutions. The market estimate and forecast data focuses specifically on new software solutions targetingad-hoc workgroup processes that can effectively integrate with workgroup class network copiers, printers, fax machines, and scanners.
“This market represents a young and undefined segment within the broader information technology industry,” commented Joel Mazza, a Director at CAP Ventures. “By understanding the numbers and trends in this forecast as well as long-term revenue targets, industry players can better comprehend what they need to do to be successful and drive sustainable, long-term growth and profitability for their businesses.”
The forecast includes three primary revenue categories for installation services, software licenses, and support and integration services. Overall, these services will experience upward growth with software licensing demonstrating a 37% CAGR between 2002 and 2007 and integrations services experiencing a 30% CAGR over the same period.
The forecast includes segmentation splits by distribution channel, including six primary channel categories. These categories include facilities management companies, independent dealers, mega-dealers, direct sales organizations, PSO/Systems Integrators, and value-added resellers (VARs).
Facilities management companies currently capture the largest share of solutions revenue. These companies accounted for approximately $79.4 million in 2002 and are expected to reach $256.2 million by 2007, demonstrating a CAGR of 26%. At this stage of market development, all channels are forecasted to achieve robust growth, due in large part to the small size of the market and customer demand that currently exceeds the industry’s capacity to supply.
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