Business Card Software Market to Grow at a CAGR of 14.7% to reach US$ 3,065.8 Million from 2020 to 2027

Business Card Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Deployment (Cloud and On-premise), Application (Mobile, PC, and Web Browser)

  • Report Code : TIPRE00011353
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 166
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The Business Card Software market was valued at US$ 357.1 million in 2019 and is expected to grow at a CAGR of 9.4% during the forecast period of 2020 to 2027 to reach US$ 709.5 million by 2027.

Business events and conferences serve as significant opportunities for participants to engage in discussions on leading technologies, thereby encouraging trust and socialization. These events prove to be a meaningful way for them to engage with prospects, peers, and potential partners. Any business seeking rapid expansion of its footprint prefers collaborating with such events as a sponsor, an attendee, or an organizer. Maximizing both the money and time invested in an event, events and conferences can become their prime source for lead generation and sales acceleration. Thus, business events and conferences prove to be more effective low-cost marketing methods for developing contacts via face-to-face meetings at gatherings and meetings or by approaching the prospects through e-mail, phone call, and business networking and social websites, post event. Business officials carry business cards and offer those to their professional connections when they meet; building up a strong company profile through business cards has, thus, become a trend. Branding is a vital part of successful business operations, and the business cards enable professionals to increase brand recognition. The cards display crucial business information such as address and phone number, and these details help prospective customers approach the officials for business purposes seamlessly.

Several top conferences held for entrepreneurs in 2019 include Startup Grind Global Conference (CA, US), Collision Conference (Toronto, Canada), The Montgomery Summit (CA, US), and Next Gen Summit (New York, US). Likewise, several other conferences held in 2019 include Disruptive Technology Summit (Boston, MA), FEI Europe (Florence, Italy), The Next Web Conference (Amsterdam), EU-Startups Summit (Barcelona), Cyber Security XChange 2019, and Blockchain Summit Singapore. Moreover, B2B Rocks Conference, SaaStock Conference, International Conference on Economics and Business Management (ICEBM), and International Conference on Business Analytics and Operations Research, are among other conferences that are likely to be held in different locations around the world in the coming years. Such rise in meetings and events escalates the demand for business cards by business professionals gathering in such meetings. Business card software plays a crucial role in building business relations during meetings and events as the software swiftly and most precisely recognizes text and helps one reach out to new connections and save new contacts to the address book.

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Business Card Software Market: Strategic Insights

Business Card Software Market

  • CAGR (2019 - 2027)
    9.4%
  • Market Size 2019
    US$ 357.1 Million
  • Market Size 2027
    US$ 709.5 Million

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • ABBY
  • Adobe
  • BeLight Software Ltd
  • CAM Development
  • DRPU SOFTWARE PVT. LTD
  • Haystack
  • IntSig Information Co., Ltd. Corporation
  • NCH Software
  • PENPOWER TECHNOLOGY LTD

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Deployment
  • Cloud and On-premise
Application
  • Mobile
  • PC
  • Web Browser
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Impact of COVID-19 Pandemic on Business Card Software Market

The COVID-19 crisis has positively impacted the growth of a few sectors, such as software and technology. The demand for digital solutions has grown at a high rate in the past few months. Nevertheless, the decrease in business meetings and events in various countries is anticipated to lower the demand for business card software during this crisis period. Hence, there will be a mixed impact due to which the growth rate would drop by a little margin in 2020 and 2021.

Market Insights

Rising Demand for Digital Business Cards

Business cards are a staple of the professional and corporate world. However, digital business cards are transforming the market of business cards. In the digital era, it's important to also make use of digital business cards for sharing all of the contact information in one convenient view. Digital business cards are perfect for consolidating and easy to share all of your accounts and contact information in a single view. With digital business card technology, business contacts are instantaneously transferred to the user's smartphone through mobile applications, enabling them to access all contacts and retrieve or store contacts from the cloud. Unlike a paper prototype, a digital business card facilitates the user to reach a bigger audience. Some of the key advantages of digital business cards are smart communication, ease of usage, and unlimited space. The latest technologies utilized in digital business cards are near field communications (NFC) and augmented reality. With the relatively low costs, the user can create a digital business card that utilizes NFC and can be read through a smartphone to transfer contact details. There is an increasing trend of exchanging business cards and forgetting about it. However, with changing times, people comprehend that a strong business relationship is developed by meeting in-person and exchanging contacts. As for coming major trends such as offline networking and building business communities, digital business cards support to engage people efficiently and professionally. In developed economies, more than 60% of SMEs believe that digital presence supports them in customer acquisition, which in turn boosts the adoption of digital business cards. Some of the best online services and mobile apps used for developing digital business cards are, Haystack, Switchit, Inigo, L-Card, and about.me. Further, these digital business cards require business card software programs that scan them. Some of the best software to scan digital business cards include WorldCard Mobile, ScanBizCards, DigiCard, and many others. Thus, the rising demand for digital business card further increased the demand for business card software, thereby creating lucrative opportunities for the market players.

Deployment Market Insights

The business card software market by deployment has been segmented into cloud and on-premise. The companies that are planning to make significant investments in business card software might opt for modern platforms by rapidly adopting cloud-based solutions. Numerous organizations in various regions are adopting cloud-based business card software due to reliability and low cost. Thus, the business card software market is led by cloud segment with highest share and is expected to dominate in the forecast period.

Application Market Insight

Based on application, the business card software market is segmented into PCs, mobile, and web browser. The web browser segment led the market in 2019 with highest share and is expected to continue its dominance during the forecast period. Also, web browser segment is expected to grow at a highest CAGR during the forecast period.

The players operating in the enterprise content management market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

  • In July 2020, Adobe, IBM and Red Hat declared a strategic partnership to assist boost the digital transformation and strengthen real-time data security for enterprises, with a focus on regulated industries. The aim of the partnership is to allow the companies to offer more personalized experiences across the customer journey, driving improved engagement, profitability and loyalty.
  • In Feb 2020, ABBYY, with acquisition of TimelinePI in August, Q4 was defined by the integration of what is now ABBYY Timeline into the complete  portfolio of products, equipping clients  with solutions to leverage both content intelligence and process intelligence to enhanced operational efficiencies, improved  profit margins, and change  the customer experience.

Business Card Software Market Report Scope

Report Attribute Details
Market size in 2019 US$ 357.1 Million
Market Size by 2027 US$ 709.5 Million
Global CAGR (2019 - 2027) 9.4%
Historical Data 2017-2018
Forecast period 2020-2027
Segments Covered By Deployment
  • Cloud and On-premise
By Application
  • Mobile
  • PC
  • Web Browser
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • ABBY
  • Adobe
  • BeLight Software Ltd
  • CAM Development
  • DRPU SOFTWARE PVT. LTD
  • Haystack
  • IntSig Information Co., Ltd. Corporation
  • NCH Software
  • PENPOWER TECHNOLOGY LTD
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Global Business Card Software Segments:

    Business Card Software Market – By Deployment

    • Cloud
    • On-Premise

    Business Card Software Market – By Application

    • Mobile
    • PCs
    • Web Browser

    Business Card Software Market – By Geography

    • North America

      • U.S.
      • Canada
      • Mexico
    • Europe

      • France
      • Germany
      • Italy
      • Spain
      • UK
      • Rest of Europe
    • Asia Pacific (APAC)

      • Australia
      • China
      • India
      • Japan
      • Rest of APAC
    • Middle East & Africa (MEA)

      • Saudi Arabia
      • UAE
      • South Africa
      • Rest of MEA
    • South America (SAM)

      • Brazil
      • Rest of SAM

    Companies

    • ABBYY
    • Adobe Inc.
    • BeLight Software Ltd
    • CAM Development.
    • DRPU Software Pvt. Ltd.
    • Haystack
    • IntSig Information Co.,Ltd. Corporation
    • NCH SOFTWARE
    • PENPOWER TECHNOLOGY LTD.
    • Vision-e
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Deployment , Application

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, Singapore, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    What factors are providing opportunities for Business card software market?

    Business cards are a staple of the professional and corporate world. However, digital business cards are transforming the market of business cards. In the digital era, it's important to also make use of digital business cards for sharing all of the contact information in one convenient view. Digital business cards are perfect for consolidating and easy to share all of your accounts and contact information in a single view. With digital business card technology, business contacts are instantaneously transferred to the user's smartphone through mobile applications, enabling them to access all contacts and retrieve or store contacts from the cloud. Unlike a paper prototype, a digital business card facilitates the user to reach a bigger audience. Further, these digital business cards require business card software programs that scan them. Some of the best software to scan digital business cards include WorldCard Mobile, ScanBizCards, DigiCard, and many others. Thus, the rising demand for digital business card further increased the demand for business card software, thereby creating lucrative opportunities for the market players.

    Which application led the Business card software market?

    The web browser segment led the market in 2019 with highest share and is expected to continue its dominance during the forecast period. Also, web browser segment is expected to grow at a highest CAGR during the forecast period. The business card software providers develop their solutions that can be used on the web browsers. Web-based software is software that can be used over the internet through a web browser. The users don’t have to download any software, install anything, or worry about upgrades. The users are allowed to use web-based software through their web-based email program such as Hotmail, Gmail, or Yahoo Mail.

    Which factor is driving the Business card software market?

    Owing to the rising demand for cloud-based software, the majority of the business card software market players are offering cloud-based products. For instance, ABBYY offers a cloud-based business card reader solution that allows professionals to scan business cards and manage contacts. The key features of this software include multi-device compatibility, and file sharing, data synchronization, image capture, data export, and location tracking abilities. Likewise, Bric is another cloud-based software designed and developed to assist large enterprises and SMEs to manage and record contacts by scanning business cards. Moreover, developed countries have matured the internet infrastructure, while it is flourishing in several developing countries. This allows end users to seamlessly access the cloud-based business card software, thereby driving the business card software market. Additionally, the software developers are continuously investing in developing robust and secured cloud-based software with a prime objective to protect customer data and prevent cyber-attacks. These developments in and could-based software technologies, along with connectivity technologies, contribute to the growth of the business card software market.

    The List of Companies - Business Card Software Market

    1. ABBY
    2. Adobe
    3. BeLight Software Ltd
    4. CAM Development
    5. DRPU SOFTWARE PVT. LTD
    6. Haystack
    7. IntSig Information Co., Ltd. Corporation
    8. NCH Software
    9. PENPOWER TECHNOLOGY LTD
    10. VISION-E

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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