Recent Report by Davidson Consulting Highlights Compliance as Key Driver for Continued Double-Digit Growth in Fax Services
WATERLOO, ON, Jan. 8, 2013 /PRNewswire/ - OpenText (NASDAQ: OTEX, TSX: OTC), a leading provider of Enterprise Information Management (EIM) solutions, today announced that it was recently named the market leader in fax services by analyst firm Davidson Consulting, a fax industry analyst firm.
In its "Fax Service Markets, 2012-2017," report, Davidson Consulting assessed the major players in the industry and provided forecasts for several aspects of the fax service industry including compliance, fax servers versus fax services, fax machine connections, and fax over IP, looking forward to 2016.
"Fax has proved much stickier than anyone would have expected several years ago. Businesses find it an essential tool to comply with regulatory mandates and use fax because their trading partners prefer them to," according to Peter Davidson, President of Davidson Consulting.According to the report, the fax market has grown 23.2 percent over the past year, with an 18 percent compound annual growth rate (CAGR) projected through 2016. The report positions OpenText as the clear market leader in 2012, holding three times the market share of the next closest competitor in both the large enterprise market segment and the broadcast fax service market. "The enterprise fax services market represents a significant growth opportunity in EIM," stated Gary Weiss, Senior Vice President of OpenText's Portfolio Group. "With the acquisition of the cloud-based market leader EasyLink earlier this year, we have accelerated our leadership in the fax services market and will continue building out our leadership in fax software both on premises and in the OpenText cloud." According to the report, OpenText leads the overall enterprise Internet fax services market with more than 20 percent market share, nearly twice the market share of the next closest competitor. The report further validates the company's leadership in this market, showing OpenText with 40 percent market share in enterprise production fax, a heavily compliance-driven subset of Internet fax services.