COVID-19 Aside, the Future Is Bright for Software Solutions

Annual forecasts for North America and Western Europe coming soon

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11/13/2020

Lee Davis

 

 

In the next week or so, we will release our Document Imaging Solutions Forecasts for North America and Western Europe. Released annually, these key indicator files estimate and project revenue figures from 2019 to 2024.

 

This year’s forecast is a little different than in years past as we’ve consolidated revenue figures for each product category (Output Management, Content and Document Management, Document Capture and Workflow, and Fleet Management). But we didn’t just stop there! We also split revenue for those product categories by company size (small, medium, and large), revenue type (software cost, ongoing maintenance, and services), channel (OEM direct, office equipment dealer, or IT reseller/VAR), deployment model (on-prem or cloud), and payment model (license or subscription).

 

Like in every other industry, COVID-19 made its mark on the software solutions market. Fortunately, that impact wasn’t as harsh as it was for others. Coming off a strong 2019, we expected big things for 2020. In an alternate universe where the pandemic did not happen, the market experienced healthy growth this year.

 

But we don’t exist in that other dimension, and 2020 revenues are down because of it. While there is great uncertainty around us digging out of this year, we expect that revenues will start to grow again in 2021. In 2022 and beyond, Keypoint Intelligence expects the market to experience even better growth and create new opportunities.

 

Subscribers to our Office CompleteView and Network Document Solutions services can soon log in to the InfoCenter to view the forecasts. Not a subscriber? No problem. Just send us an email at sales@keypointintelligence.com for more info.