Pune, India -- (SBWIRE) -- 11/09/2018 -- Cloud fax is used to send, receive and store faxes. Cloud fax is similar like traditional, manual faxing but it is faster and much more flexible. Cloud fax does not require two fax machines, reels of paper and lots of expensive ink. This technology need a computer or mobile device with connectivity to send the data and some form of receiving device at the other end such as computer, a tablet or a smartphone. The Global Cloud Fax Market, in terms of revenue, was valued at US$ 420.47 Mn in 2017 and is expected to reach US$ 689.56 Mn by 2022.

With manual faxing it is necessary to stand and feed page after page of documents into a fax machine and then wait in line for the received documents to be printed. With cloud faxing there is much more flexibility. There is no need to hover over a machine collecting pages, making sure no-one else intercepts sensitive documents–files come straight to a fax inbox, all in one place, ready to be viewed by an individual or a team at any time at the click of a mouse. Further, reduced capital and operational expenditure through internet-based faxing solution led to the increasing adoption of cloud fax. This is one of the few factors that are boosting the demand for cloud fax market in near future.
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Many companies do not want to shift from traditional fax to cloud fax, this factor is limiting the growth of the market. Furthermore, increasing trend of BYOD and flexibility and scalability of internet fax can provide substantial growth opportunity to the global market.

Cloud Fax Market, By User Type
Large Enterprise, among user type, accounted to capture the largest market share at present as this organization uses cloud fax services for sending and receiving faxes using laptops, smartphones, or tablet. It eradicates the expensive fax servers and departmental machines and also replaces the ongoing equipment, software, licenses and utility costs with a predictable pay-as-you-go model with the ultimate scalability, which is ideal for large enterprises.

Cloud Fax Market, By Region
On the basis of geographical segmentation, North America is expected to hold the largest market share owing to the rapid digitalization and technological advancement such as growing 4G and upcoming 5G technology. Moreover, the United States in this region is strongly investing in R&D activities. With these developments the cloud fax market in North America has gained the significant share.

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Competitive Landscape
The report provides both, subjective and quantitative research of the market, as well as integrates worthy insights into the rational scenario and favored development methods adopted by the key contenders. The report also offers extensive research on the key players in this market and detailed insights on the competitiveness of these players. The key business strategies such as M&A (Mergers & Acquisitions), affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the report recognizes their corporate headquarter, competitors, product/service type, application and specification, pricing, and gross margin.

Some of the primary players of global cloud fax market are BiscomIncorporated, Concord Technologies, DocumoLLC, eFaxCorporate, Esker, GFI Software, Integra LTC Solutions, Open Text Corporation, Retarus GmbH, TELUS Corporation, XMedius, amongst others.