The research report by The Insight Partners, titled, “Font Management Software Market”, offers a comprehensive analysis of key growth drivers, key segments, development strategies, market opportunities, and competitive landscape. This study offers detailed insights for market players, investors, stakeholders, and new entrants to understand the industry dynamics and determine strategic steps to gain a competitive advantage.
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Font management software provide a single platform to users to enable them to install, browse, and organize fonts. The fonts are stored in library, and can be searched and previewed for various end users. These software solutions enable users to organize font library with various folders and tags. The font management software products are majorly used on operating systems (OS) such as Windows and macOS, as well as on Linux to a certain extent. Organizations and individuals often store font collection obtained from font marketplace or develop their own fonts and upload the same.
Impact of COVID-19 Pandemic on Font Management Software Market
The COVID-19 crisis is affecting the industries worldwide, and the global economy is anticipated to continue to witness its ill-effects in 2021. The outbreak has created notable disruptions in prime sectors such as technology, media and telecommunications, electronics & semiconductor, and retail and e-commerce. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the infection spread have impacted both smartphone and camera manufacturing., thereby retsraining the adoption of font management software products.
APAC is witnessing rapid growth in its manufacturing and industrial sectors, and any disruptions in these sectors may negatively impact the growth of various industries dependent on this region. The governments of various countries in APAC are striving to reduce the effect of the COVID-19 pandemic through the imposition of lockdowns, and travel and trade bans. These measures are limiting the adoption of font management software, especially in the retail and e-commerce sector.
The players operating in the font management software 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 2020, Monotype Imaging Inc. acquired Fontsmith. With this acquisition, Monotype focuses on expanding its library of font families such as FS Brabo, FS Albert, FS Koopman, FS Untitled, FS Millbank, and FS Meridian.
- In 2019, Monotype Imaging Inc. was acquired by HGGC, LLC. HGGC, LLC has acquired all shares of Monotype for $19.85 per share and representing an aggregate value of approximately $825 million.
Key Findings of Study:
The global font management software market is segmented into five major regions—North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and South America (SAM). The market in APAC is projected to experience significant growth during the forecast period due to the growing penetration of internet and digital devices such as computers, smartphones, and tablets. Furthermore, the containment measure implemented in the world to control the COVID-19 outbreak have led to significant decline in the revenues of various industries, which has subsequently affected to the growth of font management software market.
- Nevertheless, significant strategic initiatives by several font management software market players are observed in the market; for instance, in 2020, Monotype Imaging Inc. acquired Fontsmith to expands its library of font families such as FS Brabo, FS Albert, FS Koopman, FS Untitled, FS Millbank, and FS Meridian. Moreover, in 2019, Monotype Imaging Inc. was acquired by HGGC, LLC. HGGC, LLC has acquired all shares of Monotype for $19.85 per share and representing an aggregate value of approximately $825 million.
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