Font management software is widely used by designers to create static and animated content. Bloggers and content creators also use it to improve the overall quality of content posted on various portals.
According to research by The Insight Partners, the global font management software market was worth US$3,427.7 million in 2019 and is projected to reach US$13,466.3 million by 2027 to grow at a CAGR of 18 .8% from 2020 to 2027. Growing internet penetration and digital content creation, and rising importance of effective product design and packaging are the critical factors credited to the expansion of the market.
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The major players in the global font management software market are Extensis, Corel Corporation, Fontstand BV, High-Logic BV, Insider Software Inc, Monotype Imaging Inc, Adobe Inc, A. & M. Neuber Software, Proxima Software, and RightFont, among which the others.
• In November 2019, Extensis launched a new suitcase fusion subscription service for sketch, adobe creative cloud and affinity products. Later, in June 2020, the company released new updates in the merging of the font management solution suitcases. It includes dark mode and list view previews.
• In August 2017, Corel Corporation released the new CorelDraw 2017 graphic design suite, which offers advanced surface dial support and offers a hands-on approach to vector design and graphic creation. In June 2018, the company acquired Gravit Designer to expand its graphic design software portfolio.
• In July 2018, Fontstand BV introduced a new font licensing program with high quality digital font functionality, especially for educational institutions.
The number of internet users worldwide is increasing due to the affordable prices of computers, smartphones and internet subscriptions. According to Hootsuite, the number of internet users worldwide was 4.57 billion in July 2020. Asian countries have been major contributors to overall internet traffic over the past decade. With the increasing penetration of internet services, businesses are embracing digital media to target potential prospects. Both SMEs (small and medium-sized enterprises) and large enterprises are moving towards the creation and deployment of digital content to attract optimal customers via the Internet.
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However, high cost of software and lack of awareness is hampering the growth of the global font management software market.
Based on the operating system, the font management software market is segmented into Mac system, Windows system and other systems. The window system segment occupied 48.9% market share in 2019 with total revenue of US$1,675.8 million. It is assumed to earn US$5,791.6 million by 2027 to grow at a CAGR of 16.9% during the period 2020-2027.
On the basis of deployment, the business sphere of the Font Management Software market is classified into on-premises and cloud-based. The latter dominated the field in 2019 with a market share of 84.0%. It generated US$2,880.2 million in 2019 and is projected to gross US$11,724.7 million by 2027 to grow at a CAGR of 19.4% throughout the forecast period. .
In terms of end user, the global font management software market is categorized into web designers, printing agencies, advertising agencies, freelancers, and others. The web designer segment held 45.9% market share in 2019. It was valued at US$1,571.6 million in 2019 and is expected to raise US$5,584.2 million by 2027 to show a CAGR of 17.3% throughout the forecast period.
From the regional benchmark, it was observed that North America dominated the market in 2019 with 36.78% market share. It was valued at US$1,260.7 million in 2019 and is projected to reach US$4,718.6 million by 2027 at a CAGR of 18.1% during the forecast period. The Asia-Pacific market recorded a CAGR of 20.1%, accounting for US$878.8 million in 2019. The regional business is expected to be worth US$3,751.7 million by 2027.
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The Insight Partners is an industry unique research provider of actionable intelligence. We help our clients find solutions to their research needs through our syndicated research and advisory services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Health IT, Manufacturing and Construction, Medical Devices , technology, media and telecommunications, chemicals and materials.
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