Document Scanner Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 6.40 Billion |
| Market Size (2029) | USD 8.20 Billion |
| CAGR (2024 - 2029) | 5.09 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | Asia-Pacific |
Major Players.webp "Document Scanner Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
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Document Scanner Market Analysis
The Document Scanner Market size is estimated at USD 6.40 billion in 2024, and is expected to reach USD 8.20 billion by 2029, growing at a CAGR of 5.09% during the forecast period (2024-2029).
- A document scanner electronically copies content from printed pages and converts it to a text file on a computer. Small firms use scanners to digitize legal documents, correspondence, business cards, and other printed materials, saving hours of precise data entry. The technology has two basic components: hardware converts a page into an image, and software extracts text from the image.
- As there are various risks associated with paper documents, such as floods, fires, and other natural and artificial hazards, scanning documents is a helpful way to store and secure them. Furthermore, scanned documents add to the safety of sensitive information as they can be backed up, encrypted, and tracked using various systems.
- Furthermore, electronic documents enable an organization to easily access past papers or files with the click of a button instead of rummaging through massive loads of paperwork to find something particular. As indicated in the graph, the penetration rate of scanners is significant, which is analyzed to grow nationally and internationally, thereby directly contributing to the market's growth.
- Moreover, with hybrid working practices becoming the new normal, the advancements make it easier to collaborate with accurate, high-volume scanning, advanced image processing, and a slew of document optimization and intelligent workflow options. Furthermore, paper documents must be correctly scanned and legible for the intended user, as modern offices increasingly rely on digital document management systems. To keep the contemporary office functioning smoothly, the capacity to quickly scan vast amounts of documents into archive-quality, searchable records are significant, and various innovations are witnessed in the market.
- Cell phones have turned into necessary devices in the office. As a result, businesses increasingly include mobile-friendly alternatives, such as printing and other processes. Mobile printing is a relatively simple concept that works. In addition to providing businesses with a high level of convenience and flexibility, on-the-go solutions allow users to publish documents from any device, including tablets and smartphones.
- The COVID-19 pandemic led to lockdowns imposed by governments to curb the spread of the virus. The lockdown across countries created severe supply chain challenges, leading to the temporary closure of manufacturing plants.
Document Scanner Market Trends
Increasing Use of High-speed Document Scanners to Drive the Market
- High-speed document scanning acquires images of hundreds of clean documents in seconds, converting them into digital versions saved remotely through a cloud service or locally in a database. A high-speed document scanner is often outfitted with technology that corrects pictures and extracts metadata from documents to provide indexing data for a firm's enterprise content management (ECM) systems.
- The process of scanning documents and transforming them into electronic representations is known as digitization. Most businesses scan papers to save money, boost efficiency, and improve access to information. Document digitization prevents the loss of sensitive information by providing a backup if physical documents are lost or damaged. Documents are scanned into digital pictures using high-speed scanners.
- Professionals in the field of paper-based document transformations typically use high-speed scanners. This technology is suitable for converting many documents into a digital archive. Digitization is performed rapidly due to the quick processing time. Furthermore, high-speed scanners may be utilized on a wide range of documents.
- Contracts, thick documents, minuscule blueprints, charts, and even delicate, antique pieces may be digitized with high-speed document scanners. These machines usually handle legal or 11"x17" papers. However, if technology is used correctly, everything from business cards to large plans may be transformed.
- Various companies in the industry are launching high-speed document scanners, which in turn is increasing the use of these scanners. For instance, in October 2022, Digital Check Corp. introduced the TellerScan TS250, exhibited at Gitex Global 2022 at a stand shared with Globalis. The TS250 is Digital Check's most recent high-speed check scanner for the financial industry, intended for usage at the teller window or high-volume remote deposit capture. The latest model is designed as the successor to the successful TellerScan TS240, which has sold thousands of units over the last decade and is the firm's best-selling multi-feed device. The redesigned TS250 will be available for purchase in early 2023.
Asia-Pacific to Hold Significant Market Share
- The demand for document scanners is predicted to rise due to a growth in the number of SMEs in the Asia-Pacific region. Furthermore, the increased use of digital technology in developing nations such as Singapore, India, Indonesia, Taiwan, and the Philippines is likely to boost development.
- Furthermore, the need for portable document scanners is predicted to rise in the region due to their benefits, such as mobility, wireless connectivity, the capacity to scan numerous documents, etc.
- With the rise in economic development and per-capita income in emerging countries, particularly in the Asia-Pacific region, the market is predicted to have increased new potential opportunities. This resulted in significant industrial growth and the expansion of the manufacturing sector as a whole. Furthermore, manufacturers' increased investment in technology and R&D efforts to produce innovative and effective technical devices will likely create new market prospects for development throughout the forecast period.
- For instance, in June 2022, a new collaborative book highlights the technological and legislative tools that governments utilize to transition to paperless cross-border trade and increase the efficiency of export/import operations. During the event, the World Trade Organization (WTO) released the "Cross-Border Paperless Trade Toolkit" in partnership with the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the United Nations Commission on International Trade Law (UNCITRAL).
Document Scanner Industry Overview
The document scanner market is highly competitive, with leading players such as HP, Fujitsu, and Canon holding significant market shares. The major players focus on organic growth strategies such as product launches, approvals, patents, and events. These activities pave the way for the expansion of the business and customer base of market players.
- Document 2023: Latvian forensic and biometric digital identity firm Regula has released a new multifunctional passport and travel document scanning device, the Regula 7029. Efficiency is also key. With Regula 7029, enabled with automated ID document processing, ICTS Europe Systems can scan and verify an ID in three seconds. This means a quicker experience for passengers during check-in and boarding. This Regula 7029 deployment follows the launch of the Regula 5006, a spectrometer-microscope intended for laboratory installation.
- November 2023: Google has rolled out an Android Google Drive app update, introducing an improved document scanner. The update, version 2.23.457.1, brings a new interface to the document scanner, enhancing the user experience. Notable changes include a dedicated FAB (Floating Action Button) labeled Scan positioned above the rectangular FAB for New. Unlike the previous version, the updated Drive app now opens the camera viewfinder within the app itself, eliminating the need to redirect to the default camera app. The controls have been streamlined, offering an “Auto capture” mode and a Manual mode.
Document Scanner Market Leaders
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HP Inc.
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Canon Inc.
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Seiko Epson Corporation
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Xerox Corporation
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Brother Industries Ltd
*Disclaimer: Major Players sorted in no particular order
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Document Scanner Market News
- August 2023: Konica Minolta Business Solutions U.S.A., Inc. reported a strategic alliance with Epson America, Inc. Konica Minolta will offer Epson’s retail scanning solutions to its nationwide network of channel partners and office equipment dealers. The collaboration will enable Konica Minolta to provide a broad range of scanning solutions to meet the growing needs of its consumers and partners. In advanced document management technologies, IT Services, and application solutions, Konica Minolta concentrates on comprehensive solutions, including business systems, digital services, production print methods and printers, vertical application solutions, and related services.
- August 2023: To ensure success, business tools must deliver fast speeds and the right functionality and fit seamlessly into any environment. Epson America, a global imaging technology leader, introduced the DS-C330, DS-C480W, and DS-C490 compact desktop document scanners for efficient workspaces. Featuring a vertical paper feed system, the small and lightweight scanners save up to 60 percent of desk space,1 enabling businesses from a wide range of industries to stay productive and keep workflow moving even when space is limited.
Document Scanner Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
- 4.2 Industry Value Chain Analysis
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Bargaining Power of Suppliers
- 4.3.2 Bargaining Power of Consumers
- 4.3.3 Threat of New Entrants
- 4.3.4 Threat of Substitute
- 4.3.5 Intensity of Competitive Rivalry
- 4.4 Assessment of the Impact of COVID-19 on the Market
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Increasing Use of High-speed Document Scanners
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5.2 Market Restraints
- 5.2.1 Digital Transformation Solutions (Mobile Printing) Being Integrated into the Workplace
6. MARKET SEGMENTATION
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6.1 By Application
- 6.1.1 Government
- 6.1.2 BFSI
- 6.1.3 IT & Telecom
- 6.1.4 Educational Institutions
- 6.1.5 Other Applications
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6.2 By Geography
- 6.2.1 North America
- 6.2.2 Europe
- 6.2.3 Asia-Pacific
- 6.2.4 Latin America
- 6.2.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
- 7.1.1 HP Inc.
- 7.1.2 Canon Inc.
- 7.1.3 Seiko Epson Corporation
- 7.1.4 Brother Industries Ltd
- 7.1.5 Xerox Corporation
- 7.1.6 Plustek Corp.
- 7.1.7 Fujitsu Limited
- 7.1.8 Mustek Systems Inc.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Document Scanner Industry Segmentation
The document scanner converts the physical document into digital format. It enables the user or an organization to store and retrieve the documents online, which lessens storage costs and delivers greater work efficiency. Furthermore, digital records allow greater collaboration within business processes, reducing cycle times and costs.
The market is segmented by application (government, BFSI, IT, telecom, educational institutions) and geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa).
The market sizes and forecasts are provided regarding value (USD) for all the above segments.
| By Application | Government |
| BFSI | |
| IT & Telecom | |
| Educational Institutions | |
| Other Applications | |
| By Geography | North America |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle East and Africa |
Document Scanner Market Research FAQs
How big is the Document Scanner Market?
The Document Scanner Market size is expected to reach USD 6.40 billion in 2024 and grow at a CAGR of 5.09% to reach USD 8.20 billion by 2029.
What is the current Document Scanner Market size?
In 2024, the Document Scanner Market size is expected to reach USD 6.40 billion.
Who are the key players in Document Scanner Market?
HP Inc., Canon Inc., Seiko Epson Corporation, Xerox Corporation and Brother Industries Ltd are the major companies operating in the Document Scanner Market.
Which is the fastest growing region in Document Scanner Market?
Middle East and Africa is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Document Scanner Market?
In 2024, the Asia-Pacific accounts for the largest market share in Document Scanner Market.
What years does this Document Scanner Market cover, and what was the market size in 2023?
In 2023, the Document Scanner Market size was estimated at USD 6.07 billion. The report covers the Document Scanner Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Document Scanner Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Document Scanner Industry Report
Statistics for the 2024 Document Scanner market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Document Scanner analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
