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The document scanner market size is estimated to grow at a CAGR of 6.95% between 2022 and 2027. The market size is forecast to increase by USD 4,506.51 million. The growth of the market depends on several factors, such as enhancing the security of data, the use of high-speed document scanners, and the need to adhere to industry sustainability standards. A document scanner is a device that scans a paper document and converts it into a digital format, which can be stored on digital devices. The process of document scanning is also referred to as document imaging.
This document scanner market report extensively covers market segmentation by application (government, BFSI, healthcare, IT, and others), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The use of high-speed document scanners is driving growth in the document scanner market. Scanning an enormous number of records can be a work concentrated too as lumbering interaction, which can deplete the assets of an endeavor and influence the progression of business tasks. In their day-to-day operations, businesses in sectors like BFSI must deal with a lot of paperwork. The speed of operations would be impacted, and data collection errors could rise, if these documents were scanned and uploaded to systems.
In addition, fast scanners assist undertakings with taking out the failures and dangers related to conventional high-volume filtering. With these scanners, the document capture process can be made more productive, the quality of the captured document can be maintained, and document preparation time can be cut down. Equipment for high-speed scanning that is both intelligent and affordable is available from the vendors, and it can help an organization increase its operational efficiency. High-speed scanners like these help businesses cut down on misfeeds and simplify their workflow. This raises demand for document scanners, which is expected to help the global market in focus grow during the forecast period.
The integration of document scanners with the cloud is a primary trend in the document scanner market. One of the most prominent innovations that have disrupted the storage market is cloud storage. It is offered by different companies to users as an on-demand service. The cloud-based platform allows users to store text, files, and pictures. Cloud computing allows users to access computing resources remotely without the need for any supporting system hardware. Some of the other advantages of cloud computing are its affordability, which makes it suitable for businesses of any size, its flexible capacity, and its low environmental impact. The use of cloud technologies in day-to-day business has been dramatically increased by these benefits.
However, various vendors are offering document scanners that can connect with the cloud for storing scanned documents due to the increasing demand for cloud storage. You can classify and sort documents and send them to the right cloud space with ScanSnap Cloud. For future use, receipts, documents, and business cards will be delivered directly to the cloud service. Thus, integration with the cloud is expected to boost the growth of the global market in focus during the forecast period.
The increase in capital and operational expenditure is a major challenge faced by the document scanner market. In order to increase the efficiency of business processes, Document Scanners assist enterprises in obtaining a digitized copy of all their documents. Compared with enterprises that use more than one sheet of paper in their daily activities, e.g. day to day operations, making a digital copy of the documents is an environmentally preferable option. The backup of digital documents can be maintained by investing in cloud-based storage solutions, which increases the operational costs for the organization. Businesses also have to bear the expenses of updating the software and hardware to store their digital documents.
One of the most serious problems in a Paperless Office is hardware failure. A sudden power outage or accident can lead to the Digital solution failing at any time. Computer records are susceptible to errors made by humans. Human error may include errors such as incorrect names on files, not completing scanned documents, or accidental loss of data in storage. Such events may hinder businesses from digitizing their documents, thus making it difficult for them to adopt document scanners that are expected to hamper the growth of the worldwide document scanner market over the forecast period.
The market share growth by the government segment will be significant during the forecast period. The public authority area all around the world should manage the best number of paper records, and it tends to be challenging to sort, make due, and coordinate these reports, which are incredibly expensive to store. In addition, in the event of any kind of man-made or natural disaster, such as a fire or flooding, these government documents ought to be safe and should have the lowest possible risk of being damaged.
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The government segment showed a gradual increase in the market share of USD 2,780.51 million in 2017 and continued to grow by 2021. The government has various departments to manage under its supervision. In view of the fact that they serve a whole nation's population, each department would have enormous quantities of documents to deal with. It is becoming more and more difficult for the government to maintain such records, due to a growing number of documents in the public sector. Hence, various departments in the government are adopting document scanners to digitize and automate documentation processes.
Similarly, the BFSI sector will also increase segment growth during the forecast period. Paper is still used in many financial services operations in many countries, like India. In any case, organizations in this area are searching for approaches to working on their momentum physically carried out processes. During the forecast period, this is anticipated to result in a rise in the global document scanner market. A large number of documents pertaining to account information, loan applications, and transaction forms must be kept up by BFSI sector employees. Sorting and storing important documents becomes more challenging for businesses as the number of documents grows. It also makes it more likely that people will file and lose forms due to human error.
Based on the distribution channel, the market has been segmented into offline and online. Offline sales channels had the largest share of the global document scanner market in 2022. Offline channels offer customers an in-depth experience with the scanners before making a purchase. Technical support and aftersales service are also often provided by independent retail outlets. Document management solutions, cameras, and office technology are some of the specialty retailers' special interests. These retailers are expected to offer a broader range of scanner options, including high-volume scanners, during the forecast period. Thus, increasing sales through the offline segment is expected to positively impact the growth of the global document scanner market during the forecast period.
In recent years, there has been a significant increase in sales of scanners through the online channels. The comfort and simplicity of internet shopping, alongside many choices and serious evaluation, have added to the development of online deals for record scanners. There are various scanner makers who have online shops or Official Sites that permit shoppers to purchase their items directly from them. This will empower them to exploit new models, advancements, and client care from the producer. Hence, the developing reception of online channels for buying record scanners is supposed to help the development of the worldwide market.
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APAC is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The document scanner market in APAC is expected to grow significantly during the forecast period. It is mainly due to the increased adoption of higher-level automation across the sector, as well as raising awareness of improving process efficiency in order to increase business process productivity. With a high rate of adoption of mechanization across industries such as transportation, especially due to the push from e-commerce, APAC is estimated to offer greater opportunities for market growth during the forecast period.
The outbreak of COVID-19 hampered the growth of the regional document scanner market in 2020. However, in 2021, given the availability of COVID-19 vaccines and vaccination drives implemented by many governments, e.g. China, India, or Singapore, a number of companies have resumed business activities that had been restricted to strict lockdowns. The trend of digital transformation was taking place in 2021, leading to an increased need for scanners in offices and homes. Overall, the market in focus is expected to show significant growth in APAC during the forecast period.
The Document Scanner Market industry report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Document Scanner Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Avision Inc. - The company offers document scanner products such as paperair 215L, paperair 10, and paperair 215.
Best IT World India Pvt. Ltd. - The company offers document scanner products such as Iball click scan A404.
Brother Industries Ltd. - The company offers document scanner products such as ADS 2800W and ADS 3600W.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The document scanner market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Document Scanner Market Scope |
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Report Coverage |
Details |
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Page number |
170 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.95% |
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Market growth 2023-2027 |
USD 4,506.51 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.87 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 43% |
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Key countries |
US, Canada, China, India, and Japan |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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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 |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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