The global artwork management software market was valued at US$ 5.1 billion in 2021 and it is anticipated to grow up to US$ 10.9 billion by 2031, at a CAGR of 7.8% during the forecast period.
Artwork management is the practice of simplifying approval cycles, reducing manual processes, and increasing overall efficiency. Artwork management software streamlines the process to save users time and money, help the user stay organized, and keep branding consistent and accurate. Artwork management software helps to bring the whole team to one place, proof artworks faster, and manage assets in one place, meaning faster approvals, fewer iterations, and more productivity. Further, cosmetic, chemical, food and beverage, life sciences, pharmaceuticals, chemicals, paints, manufacturing, packaging, design agencies, and marketing companies are adopting this software.
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Market Drivers and Trends
The artwork management software market growth is attributed to the expansion of pharma and life science businesses. With the increasing demand for medicines and other life science elements worldwide, the need for artwork management tools is also increasing. Throughout the pharmaceutical sector, packaging & labeling are highly recognized as a mission-critical process, which assists the organization in framing strategic goals for attracting more customers. And frequent label changes and implementation of new rules & regulations is helping in artwork management software market growth, as artwork management system helps reduce discrepancies in processes, lower human errors, and improve label quality & business agility. Moreover, the medical device firms have to comply with regulatory requirements such as the European Union’s MDR systems and Falsified Medicines Directive (FMD), Drug Supply Chain Security Act (DSCSA), and Food and Drug Administration’s Unique Device Identification (UDI) to maintain the smooth operations of pharmaceutical and life sciences sectors. Therefore, the manufacturers are reviewing medical device packaging and barcode labeling processes to comply with the emerging regulatory requirements, and for that, artwork management software is necessary.
Market Restraints and Challenges
In this day and age, cyber security should be a top priority in companies of all types and sizes. The number of threats and their sophistication is increasing by the day. Data has become the lifeblood of most organizations and the major driver of day-to-day operations and top-level decision-making. Security breaches that lead to loss of data can result in a catastrophe. Not taking cyber security seriously can lead to irreparable reputational damage, fines & issues with licensing in the case of regulated businesses, adverse media coverage, increased anxiety & stress levels in the workforce, business interruption, and breach of privacy & financial losses. And some of the artwork management software are unable to counter cyber-attacks. Thus, security concerns due to the lack of cybersecurity measures are acting as a restraining factor for the global artwork management software market.
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Global Artwork Management Software Market Segmentation
By Deployment Type
- On-Premise
- Cloud-Based
By Application
- Life Sciences
- Retail
- Manufacturing
- Others
Major Players in the Global Artwork Management Software Market
The key players studied in the global artwork management software market are Discus IT Pvt Ltd (India), Esko (Belgium), Freyr (US), GreatFour Systems (US), Kallik Ltd. (UK), Karomi Inc (ManageArtworks) [US], Lascom (Aptean) [US], Loftware, Inc. (US), Perigord Asset Holdings Limited (Ireland), and Twona (The Netherlands).
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Reasons to buy Artwork Management Software Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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