Author:
mFax by Documo

The Future of the Cloud Fax Market

There's a persistent myth about faxing that states it has become obsolete. If you work in one of the many industries that still rely on fax machines to convey documents and information between different teams, offices, or business partners, you've probably been scratching your head at that misconception. While faxing may be changing with the times, it's clearly still alive and well.

Why Faxing Is Still Relevant in the 21st Century

In some industries, such as the healthcare and finance sectors, these machines are still used regularly to meet industry compliance standards regarding data security. Even outside of these specialized fields, the recent push to digitize everything has left a lot of businesses with legacy equipment like older fax machines. These machines aren't useless. They can be converted into digital, cloud-based communications equipment that can maintain the security features that make faxing such a valuable form of communication.

The continued popularity of faxing isn't just about access to legacy equipment, either. There are several industries that remain loyal to fax machines despite recent changes in technology. They include:

●      The healthcare sector

●      Law enforcement offices

●      The financial services industry

If you work in one of these industries, chances are, you've already heard people vouch for faxing over sending emails because of its interoperability, enhanced security and compliance, and ease of use. These benefits are just as important today as they were before the invention of the Internet.

The Current State of the Fax Industry in 2021

The fact that faxing remains popular does not mean it is unchanged. Like all forms of communication, faxing in the 21st century is quickly becoming digitized. The switch to remote work during the pandemic speeded up that trend, but it didn't create it.

These days, the number of major industry players still relying on analog phone connections to send faxes is on the wane. Most businesses that still rely on fax machines now choose cloud fax over analog services. Cloud faxing allows for the secure transmission of documents to and from not just Internet-connected fax machines but also regular email addresses.

Part of the reason that faxing persists as a communication method is that the fax industry has changed to accommodate new digital technologies. The same traditional fax machines that used to be hooked up to analog phone lines can now be outfitted with analog telephone adaptors (ATAs) that allow them to connect to the Internet and send faxes via Voice over Internet Protocol (VoIP) services.

Remote Work Speeds Up the Transition to Digital Faxing

More companies than ever started allowing their employees to work remotely during the early stages of the coronavirus pandemic, and many plan to continue that practice. The abrupt switch forced a transition from traditional methods of communication to more flexible alternatives. While faxing was certainly not the only communication strategy that was forced to undergo fast, substantial changes, the cloud fax industry did a better job than many in keeping up with the changing times.

Remote workers need to have access to secure and dependable communications infrastructure, and that's what they found in newly popularized digital faxing solutions. The fact that so many companies allowed administrative employees to work remotely, even in sensitive industries such as the healthcare sector, was a huge driver of the change to digital faxing. Though around 90% of healthcare organizations still use legacy fax machines for some of their communication transactions, most now offer HIPAA-compliant online faxing as a viable alternative for remote employees and virtual patients, alike.

The healthcare industry is just one of many that have faced unprecedented changes. The increased accessibility, flexibility, and convenience of digital faxing have also driven businesses such as insurance agencies, financial service providers, and even government entities to make the switch. The best part of digital faxing is that it allows office workers who prefer to continue using legacy fax machines to stick to their old ways while simultaneously integrating more modern, remote workforces using advanced, cloud-based technologies.

Anticipating Future Global Cloud Fax Market Trends

Now that you have a decent idea of why fax machines remain such a vital part of today's business communications landscape and how the switch to remote work helped to drive the adoption of digital faxing technologies, it's time to look towards the future. According to market analysts and other industry experts, the future of the cloud fax market looks quite bright.

An estimated 17 billion faxes were sent in 2021, with an upwards of 66% of that volume still being faxed via physical/on-premise devices. And some estimates show about 75% of all medical communication still being done by fax.

It's not just US-based businesses that have embraced the transition to cloud-based faxing. Companies across the world are making the same transition at the same time, which is driving strong global market growth rates across the board. Experts predict that the global cloud fax market will grow to 860.5 million dollars by the year 2026. That's a five year growth of 9.99%.

There are a few relevant factors influencing the growth of the global cloud fax market. They include:

●      Increasing urbanization across the globe

●      Greater Software as a Service (SaaS) sales volumes

●      Increased acceptance by local merchants and multinational corporations, alike

●      Reduced supply chain disruptions

The cloud fax market can be segmented into different segments based on how faxes are sent and received. The popularity of faxing from desktops, email, and the web is growing at an even greater rate than the adoption of ATAs and the digitization of analog fax machines. However, the same SaaS and API providers that allow businesses to send digital faxes from analog machines also provide email-to-fax and other web-based services.

Catch Up With the Changing Times

Are you ready to start catching up with the times? Whether you manage an office and want to connect your old fax machine to the Internet via VoIP or you're working from home and need to find a way to communicate with coworkers or clients securely via email-to-fax, you'll need a reliable service provider on your side. The best choice for business owners and employees alike is to work with a vendor like mFax that provides a full range of secure and compliant digital faxing services to meet any company's needs.

Table of Contents
Schedule your mFax Demo
User-Friendly Interface
Full-Featured Cloud Fax API
Reliable White-Label Fax Solution
Secure and Encrypted
Schedule Your mFax Demo

Recent posts

Phil Charron
Phil Charron

Administrative Burdens are the Real Reason US Healthcare is Broken

4 Mins
June 11, 2024
Tony Cox
Tony Cox

Unlock New Revenue Streams: Cloud Fax for Agents and Resellers with Documo

3 Mins
June 7, 2024
Steve Chong
Steve Chong

The Promise of Artificial Intelligence in Managing Healthcare Information

5 Mins
May 24, 2024
Denis Whelan
Denis Whelan

Healthcare Interoperability, more than EHR to EHR

3 mins
May 8, 2024
Shane Fitch
Shane Fitch

Product Managers' Guide to Integrating Cloud Fax in Healthcare Applications

6 mins
April 2, 2024
Steve Chong
Steve Chong

What To Look For in a Cloud Fax Solution as a Reseller

9 mins
March 26, 2024
Denis Whelan
Denis Whelan

Ultimate Cloud Fax Buyers Guide: 7 Key Considerations When Choosing an Online Fax Service

10 mins
April 9, 2024
Sam Dorshorst
Sam Dorshorst

Enterprise Cloud Fax Implementation Pitfalls

9 mins
March 19, 2024
Matt Overlund
Matt Overlund

How OCR Fax Software Saves Healthcare Organizations Critical Time

7 min
March 12, 2024
Jack Hoover
Jack Hoover

Effortless Fax Online Solutions: Your Guide to Modern, Reliable Faxing

8 min read
December 19, 2023
Jack Hoover
Jack Hoover

Effortless Guide to Fax with iPhone: Send & Receive Faxes on the Go

11 min read
November 29, 2023
Jack Hoover
Jack Hoover

How to Fax an Email: Simple Steps to Send and Receive Faxes via Email

5 min read
November 17, 2023
mFax by Documo
mFax by Documo

Fax Plus vs. mFax - A Comprehensive Comparison

5 min read
November 2, 2023
mFax by Documo
mFax by Documo

WestFax vs. mFax - A Comprehensive Comparison

November 2, 2023
mFax by Documo
mFax by Documo

OpenText vs. mFax - A Comprehensive Comparison

November 2, 2023
mFax by Documo
mFax by Documo

Concord vs. mFax - A Comprehensive Comparison

November 2, 2023
mFax by Documo
mFax by Documo

mFax vs. Retarus - A Detailed Comparison

5 min read
November 2, 2023
mFax by Documo
mFax by Documo

mFax vs. RingCentral - A Detailed Comparison

5 min read
November 2, 2023
mFax by Documo
mFax by Documo

mFax vs. Biscom - A Detailed Comparison

5 min read
November 2, 2023
mFax by Documo
mFax by Documo

mFax Versus iFax - A Detailed Comparison

November 2, 2023
mFax by Documo
mFax by Documo

mFax vs. eFax - A Detailed Comparison

5 min read
November 2, 2023
mFax by Documo
mFax by Documo

Securely Fax HIPAA Compliant in 2023 - Your Guide to Online Fax Services

6
October 18, 2023
mFax by Documo
mFax by Documo

Free Fax Cover Sheet Templates

5
October 30, 2023
mFax by Documo
mFax by Documo

Top 10 eFax Best Alternatives | 2023

3 minutes
October 25, 2023
Brynna Carman
Brynna Carman

Part 2: ViVE 2023 Innovators

March 8, 2023
Brittany Woo
Brittany Woo

50 Must See HealthTech Innovators @ ViVE

March 8, 2023
mFax by Documo
mFax by Documo

Health Tech Innovator Profile: Phreesia

February 6, 2023
mFax by Documo
mFax by Documo

Comparably’s Top Companies for Women - Documo Selected for Inclusive Culture

January 17, 2023
mFax by Documo
mFax by Documo

SOC 2 Compliance is Just Table Stakes for Vendor Evaluations

January 12, 2023
mFax by Documo
mFax by Documo

Documo Selected as 2022 Comparably Award Winner

November 30, 2022
mFax by Documo
mFax by Documo

What is Faxploit and How Can We Avoid It?

6 min read
July 11, 2022
mFax by Documo
mFax by Documo

Why Does Faxing Still Exist Despite Advancing Technology?

11 min read
August 15, 2022
mFax by Documo
mFax by Documo

How to Send a Fax in 2023: A Comprehensive Guide

7 min read
September 10, 2022
mFax by Documo
mFax by Documo

Why Is Fax Still Important in Financial Industries?

11 min read
September 15, 2022
mFax by Documo
mFax by Documo

Ultimate FAQ For Online Faxing

6 min read
September 15, 2022
mFax by Documo
mFax by Documo

The Regulated Company's Guide To Online HIPAA Fax Compliance in 2021

June 30, 2022
mFax by Documo
mFax by Documo

Why Your Business Needs A Programmable Fax API

June 30, 2022
mFax by Documo
mFax by Documo

Why These 4 Industries Still Fax In 2020

July 5, 2022
mFax by Documo
mFax by Documo

VoIP vs FoIP - How to Choose the Best Service for Your Business

June 30, 2022
mFax by Documo
mFax by Documo

Why is HIPAA-Compliant Fax Crucial for the Healthcare Industry?

June 29, 2022
mFax by Documo
mFax by Documo

Why Fax is Better Than Email

July 6, 2022
mFax by Documo
mFax by Documo
Tech talk

What Personal Information is Protected Under HIPAA?

12
June 29, 2022
mFax by Documo
mFax by Documo

Vanilla Go Paperless Cupcakes

June 30, 2022
mFax by Documo
mFax by Documo

Ultimate Guide to HIPAA Fax

July 7, 2022
mFax by Documo
mFax by Documo

T.38 and the VoIP Fax Stigma

July 5, 2022
mFax by Documo
mFax by Documo

The Matter of Fax: A look at faxing in healthcare

July 7, 2022
mFax by Documo
mFax by Documo

The Limitations (and Even Dangers) of Free Fax Services

June 29, 2022
mFax by Documo
mFax by Documo

The Future of the Cloud Fax Market

June 29, 2022
mFax by Documo
mFax by Documo

The Evolution of Fax Technology

June 29, 2022
mFax by Documo
mFax by Documo

Partner Spotlight - Skyetel

July 7, 2022
mFax by Documo
mFax by Documo

Is Cloud Faxing Secure & Safe?

June 30, 2022
mFax by Documo
mFax by Documo

Interesting Fax Facts for People to Ponder

June 29, 2022
mFax by Documo
mFax by Documo

Online Signature Analysis: What Your Signature Says About You

June 29, 2022
mFax by Documo
mFax by Documo

Is it Safe to Fax Personal Information?

June 29, 2022
mFax by Documo
mFax by Documo

How to Protect Your MFPs from Security Breaches

June 30, 2022
mFax by Documo
mFax by Documo

How to Send an International Fax the Old-Fashioned Way

June 29, 2022
mFax by Documo
mFax by Documo

Innovaccer and Documo Bring HIPAA-Compliant Digital Fax to the Innovaccer Health Cloud

June 29, 2022
mFax by Documo
mFax by Documo

Industries That Are Benefiting the Most from Online Faxing

June 29, 2022
mFax by Documo
mFax by Documo

How to Get a Fax Number Without a Phone Line

June 29, 2022
mFax by Documo
mFax by Documo

How the Elections Benefit from Online Faxing

June 29, 2022
mFax by Documo
mFax by Documo

How Emailing Private Docs Can Leave You Vulnerable

June 30, 2022
mFax by Documo
mFax by Documo

How mFax is Helping These 6 Healthcare Organizations Live in the Future

June 29, 2022
mFax by Documo
mFax by Documo

How Cloud Fax Enables Healthcare Interoperability During Coronavirus

July 5, 2022
mFax by Documo
mFax by Documo

How Healthcare IT Teams Can Deliver Interoperability In 2020

July 5, 2022
mFax by Documo
mFax by Documo

How Do Cloud Faxes Work?

June 30, 2022
mFax by Documo
mFax by Documo

Beginners' Guide to Business Automation

July 5, 2022
mFax by Documo
mFax by Documo

HIPAA Fax Cover Sheet: A Secure Guide and Free Templates

June 29, 2022
mFax by Documo
mFax by Documo

Cloud Faxing: Top 5 Questions That You’re Guaranteed to Ask

June 30, 2022
mFax by Documo
mFax by Documo

HIPAA and The Cloud

July 7, 2022
mFax by Documo
mFax by Documo

Are You on the Brink of a HIPAA Disaster? How Physical Fax Machines Put You at Risk

July 7, 2022
mFax by Documo
mFax by Documo

Healthcare Technology Trends to Watch Out for

July 7, 2022
mFax by Documo
mFax by Documo

Cloud Fax or Fax Server - How to Compare Solutions

June 30, 2022
mFax by Documo
mFax by Documo

5 Reasons Why Online Faxing is Important

June 29, 2022
mFax by Documo
mFax by Documo

Are You Losing 15% of Your Faxes?

June 30, 2022
mFax by Documo
mFax by Documo

5 Winning Reasons mFax is the All-Star Player in Today’s Financial Industry

July 6, 2022
mFax by Documo
mFax by Documo

5 Best Concord Cloud Fax Alternatives

June 29, 2022
mFax by Documo
mFax by Documo

4 Simple Ways You Can Quickly Improve Patient Retention

July 5, 2022
mFax by Documo
mFax by Documo
mSign me up

Advantages and Disadvantages of Online Faxing

June 29, 2022

Get in touch with our US based team of fax experts

We'll help you assess your fax needs and determine the best solution for your business.

+1 (888) 966-4922
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.