The Insight Partners’ latest market study on “Artwork Management Software Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” the market was valued at US$ 469.05 million in 2020 and it is projected to reach US$ 942.80 million by 2028; it is expected to grow at a CAGR of 9.2% from 2021 to 2028.
Market Size Value in – US$ 469.05 Million in 2020
Market Size Value by – US$ 942.80 Million by 2028
Growth rate – CAGR of 9.2% from 2021-2028
Forecast Period – 2021-2028
Base Year – 2021
No. of Pages – 143
No. Tables – 71
No. of Charts & Figures – 62
Historical data available – Yes
Segments covered – Deployment and Application
Regional scope – North America; Europe; Asia Pacific; Latin America; MEA
Country scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage – Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Adoption of Cloud-Based Artwork Management Platform
Owing to an increase in business activities in pharmaceutical, food & beverages, consumer goods, logistics, and life science industries across the globe, the adoption of advanced artwork management tools is ready to capture attention of massive end users. Additionally, it has been observed that more than 75% of enterprises are planning to foster their digital transformation with an aim to have business recovery out of 2020. The enterprises are looking ahead to adopt cost-effective and collaborative solutions to accomplish their pre-determined digital goals.
For instance, penetration of free and cloud-based platforms, such as Artwork Flow, is expected to gain high momentum. The cloud-based platform assists teams to track, collaborate, and manage artwork in possible manner. Artwork Flow enables the end user to automate management approval workflow process for business and release complete transparency. Similarly, Karomi Inc. provides ManageArtwork which is a cloud-based packaging and an artwork lifecycle management system. The system connects processes and individuals across customers, internal departments, agencies, suppliers, and vendors to avail the products into market quickly while fulfilling regulatory compliance. The company’s system is a basis for packaging and artwork requirements delivering supply chain agility and compliance. Amul, Trinchero, Dr. Reddy’s, Nivea, and Groupe Casino are among the prominent companies that use ManageArtworks to enhance packaging artwork project workflow.
Impact of COVID-19 Pandemic on Artwork Management Software Market
The pandemic has had a negative impact on the artwork management software market. Due to travel bans, restrictions on movement, and temporary closure of supply chains, the manufacturing of labels & packaging industry business got impacted adversely. On the contrary, due to the operational activities of essential goods such as food & beverage, pharmaceuticals for biological or pharmaceutical laboratories, the demand for packaging & labelling have spurred, which has increased the adoption of artwork management system. This has led the artwork management tool market players to witness the constant flow of demand for their products.
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Deployment-Based Insights
Based on deployment, the artwork management software market is bifurcated into on-premises and cloud. The cloud segment held a larger market share in 2020.
Application-Based Insights
Based on application, the artwork management software market is segmented into life sciences, retail, manufacturing, and others. The retail segment is projected to register the highest CAGR during the forecast period.
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