NEW
YORK, Aug. 23, 2024 /PRNewswire/ -- The global
document scanner market size is estimated to grow by USD 4.41 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of 6.49%
during the forecast period. Enhance the security of data is
driving market growth, with a trend towards integration
of document scanner with cloud. However, increase in capital
and operational expenditure poses a challenge. Key market players
include Avision Inc., Best IT World India Pvt. Ltd., Brother
Industries Ltd., Canon Inc., FUJIFILM Corp., Fujitsu Ltd., Hanwang
Technology Co. Ltd., HP Inc., Image Access GmbH, Kodak Alaris Inc.,
Microtek International Inc., Mustek Systems Inc., Panasonic
Holdings Corp., Plustek Inc., Primax Electronics Ltd., Scan-Optics
LLC, Scantron Inc., Seiko Epson Corp., SPECKTRON, and UMAX.
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Document Scanner
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
6.49%
|
Market growth
2024-2028
|
USD 4418.1
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
6.06
|
Regional
analysis
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 45%
|
Key
countries
|
Japan, China, US,
India, and Canada
|
Key companies
profiled
|
Avision Inc., Best IT
World India Pvt. Ltd., Brother Industries Ltd., Canon Inc.,
FUJIFILM Corp., Fujitsu Ltd., Hanwang Technology Co. Ltd., HP Inc.,
Image Access GmbH, Kodak Alaris Inc., Microtek International Inc.,
Mustek Systems Inc., Panasonic Holdings Corp., Plustek Inc., Primax
Electronics Ltd., Scan-Optics LLC, Scantron Inc., Seiko Epson
Corp., SPECKTRON, and UMAX
|
Market Driver
Cloud storage has revolutionized the storage market with
on-demand services provided by companies like Amazon, Facebook, and
Google. Users can save text, files, and images on a cloud-based
platform without requiring any hardware. Cloud computing's
affordability, flexible capacity, and low environmental impact make
it ideal for businesses of all sizes. Vendors like Fujitsu Ltd.
Offer document scanners, such as ScanSnap iX500 or iX100, which can
connect to the cloud for storing scanned documents. ScanSnap Cloud
classifies and sorts documents, sending them to the correct cloud
space. This integration is expected to drive growth in the global
document scanner market, with receipts, documents, and business
cards being delivered directly to cloud services for future
use.
The Document Scanner market is thriving, with a significant
increase in demand for scanning printed pages into text files using
computers. Small firms and businesses prioritize scanning legal
documents, business cards, and printed materials for data entry and
backup. Hardware and software solutions enable scanning sensitive
information from paper documents, protecting against natural
hazards like floods and fires, as well as artificial hazards.
Encrypted, tracked, and electronic documents are essential for
organizations, especially those dealing with past papers, files,
graphs, and image processing. High-speed scanners are popular for
manufacturing plants and offices handling large volumes of
contracts, blueprints, charts, and antique pieces. Mobile-friendly
alternatives and cloud services are on the rise, allowing for easy
access to scanned documents on cell phones and office computers.
Scanning solutions optimize document quality, enable metadata
indexing, and offer printing and check-in features for boarding
passes and other applications.
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Market Challenges
- Document scanners enable businesses to create digital
copies of their documents, enhancing operational efficiency and
reducing paper usage. However, the implementation of digital
document storage comes with additional costs. Hardware failure and
the need for backup solutions, such as cloud-based storage,
increase operational expenses. On-premises storage necessitates
constant software and hardware updates, as well as potential IT
personnel hiring. Human error in managing electronic records is
another challenge, potentially hindering document digitization and
negatively impacting the document scanner market's growth.
- The Document Scanner Market faces several challenges in today's
digital world. Image processing software and mobile scanning apps
offer convenience but present challenges in ensuring data security.
Multifunction printers and flatbed scanners, while common, may lack
advanced security features. Data security issues, including
unauthorized access and data breaches, are major concerns.
Healthcare, financial institutions, e-commerce, and logistics
industries require strict data security and privacy. Image editing
tools and editable text files can pose cyber dangers.
Record-keeping, digital transformation, and data management require
advanced scanning technology for color reproduction, prepress
production, and record-keeping. Challenges include data security,
privacy issues, and the need for secure network scanners for
production and electronic health records. Different scanner types,
such as sheet-fed, drum, portable, CCD, 3D, and production
scanners, each have unique features and challenges.
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Segment Overview
This document scanner market report extensively covers market
segmentation by
- Application
- 1.1 Government
- 1.2 BFSI
- 1.3 Healthcare
- 1.4 IT
- 1.5 Others
- Distribution Channel
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Government- The global government sector handles
an immense volume of paper documents, posing challenges in
management, organization, and safety. With the increasing number of
records, the cost of storage becomes significant. To mitigate
potential damage and loss, there is a growing demand for digitizing
these documents through document scanning. The US District Courts,
with six hundred offices, process vast amounts of court records
manually. Defense personnel records are also stored in numerous
locations worldwide. The adoption of document scanners by various
government departments enables the automation of documentation
processes and the conversion of paper documents into searchable
digital files, addressing the challenges of managing escalating
document volumes and ensuring data security during the forecast
period.
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geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Document Scanner Market encompasses the sales and
distribution of hardware and software solutions for digitizing
printed pages, business cards, legal documents, and other physical
materials. This market caters to small firms and large enterprises
in various industries, including finance, healthcare, e-commerce,
logistics, and legal services. Scanned documents can be saved as
text files or digital versions, providing increased storage space
and improved information accessibility. Scanning rates and image
processing software are critical factors, ensuring high-quality
digital versions of documents. Paperless initiatives and digital
transformation are driving growth in this market, as businesses
seek to streamline operations and improve data management. However,
data security and privacy issues are significant concerns,
necessitating robust solutions to protect sensitive information.
Hardware and software offerings in this market cater to diverse
needs, from basic data entry to advanced data management systems
for financial institutions and electronic health records.
Market Research Overview
The Document Scanner Market encompasses the technologies,
hardware, and software used to convert physical documents,
such as printed pages, legal documents, business cards, and paper
materials, into digital formats. This includes text files,
electronic documents, and images. Document scanning is essential
for data entry, organization, and backup of sensitive information.
Scanning can be done using various hardware and software, including
high-speed scanners, flatbed scanners, and mobile scanning apps.
Natural hazards like floods and fires and artificial hazards like
data security issues pose challenges to document scanning. Data
security is crucial, ensuring encrypted, tracked, and indexed data.
The market caters to various sectors like IT, telecom, educational
institutions, healthcare, and SMEs. The market offers
mobile-friendly alternatives, multifunction printers, and cloud
services for efficient data management and digital transformation.
Document scanning enables accessibility to past papers, files, and
metadata, facilitating record-keeping and data management. Image
processing software and tools enhance scanned documents, optimizing
scanning rates and enabling tasks like graphic design, prepress
production, and color reproduction.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Government
- BFSI
- Healthcare
- IT
- Others
- Distribution Channel
-
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio