The Global Document Imaging Market is valued at USD 118.40 Billion in 2021 and is expected to reach USD 242.34 Billion by 2028 with a CAGR of 12.68% over the forecast period.
Global Document Imaging Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2022-2028- Increasing adoption of cloud-based document imaging solutions, growing demand for automated workflows, and rising demand for workplace efficiency are some of the major factors driving the growth of the Global Document Imaging Market.
Document imaging is the process that converts paper documents into an electronic format. The proper document imaging software also does much more than that, including, providing simultaneous access to the same document by many users. A document image processing system consists of scanners character recognition, image compression/decompression boards, mass storage devices, laser printers, and indexing/ retrieval software. Scanners are the primary input devices for an imaging system. Computer imaging technology automates many business processes that have recently been performed using paper processes. Documents are scanned into the imaging system and placed in electronic account folders. Document imaging is an information technology category for systems capable of recreating records ordinarily utilized in business. Document imaging systems can take many structures including microfilm, on-demand printers, copiers, copy machines, document scanners, multifunction printers, computer output microfilm (COM), and archive writers. The picture can be structured in TEM (transmission electron magnifying lens); here the form is structured by scattering of the electron beam. In TLM (transmission light microscope), the image is formed by the outcome observation of light. By the rising density or thickness, the image can diverge from acceleration voltage.
The Covid-19 pandemic had a significant impact on almost all spheres of the global economy. Owing to restricted connectivity during the lockdown, supply chains, exchange, transfer of essential goods and services, and distribution of various commodities have all been affected. However, during the Covid-19 pandemic, rising reception of online schooling, and the paperless cycle across different areas, the demand for imaging documents is set to observe significant development, over the forecasted period.
The global document imaging market is segmented on the bases of deployment, component, end-user, and region & country level. On the bases of deployment, global document imaging is segmented into on-premise and cloud. By component, the market is segmented into document imaging software, document imaging hardware, scanners, printers, and microfilm readers. On the basis of end-user, the document imaging market is segmented into government organizations, law firms, physician practices, educational institutions, and others.
Some major key players for the global document imaging market report cover prominent players like
On May 4th, 2022; Epson announced the launch of its WorkForce DS-790WN Wireless Network Color Document Scanner. Whether in the office or remote, work is becoming more dispersed, increasing the demand for networking technologies, like wireless document scanning solutions, to enhance collaborative productivity in fast-paced business environments. The WorkForce DS-790WN is designed for reliability and ease of use and delivers high-quality scans at fast speeds so businesses can manage documents with confidence. The WorkForce DS-790WN is well-suited to a wide range of segments including government, service bureaus, higher education, banking, and healthcare.
On February 15th, 2022; Fujitsu Computer Products of America announced the Fujitsu fi-8000 series of enterprise scanners. With more than 13 million scanners sold worldwide, Fujitsu continues its two-decade history of delivering innovative, reliable, and high-quality products with its new fi-8000 series. Set to revolutionize the document imaging category with technology backed by 32 new patents (pending), this new series of scanners include an innovative and industry-first features to help companies achieve their digital transformation, sustainability, and efficiency goal, enabling organizations to digitize workflow and leverage data that previously only existed on paper.
One of the major factors driving the growth of the global document imaging market is the increasing adoption of cloud-based document imaging solutions. The establishment of document imaging has decisively changed because of the rising installation of cloud-based document imaging solutions. Cloud deployment is turning into a basic and flexible part of an association, for storing information and speeding up work processes. Information technology divisions are extending their cloud spending plans for its various advantages. Quality document-management systems are accessible on the cloud for the most recent couple of years. Almost every business entity has begun introducing the cloud as the most modern deployment solution for storing significant information. Associations are always very careful about putting away basic documents in a cloud climate, and as of late expanding significance of cloud, deployment is filling the development of the document imaging market which is expected to see important development during the forecast period. For example; as per the news published on May 12th, 2022, Santander is perhaps the earliest significant bank on the planet to digitalize its core banking, having previously moved 80% of its IT infrastructure to the cloud.
In addition, growing demand for automated workflows is also supplementing the market growth. Organizations are additionally learning how to use document imaging solutions in new ways. They are bringing down their total cost of ownership by sending imaging abilities inside the more extensive context of ECM suites as opposed to point solutions. They are starting to understand how the product can empower them to change the weight of regulatory compliance into opportunities for performance improvement. Also, they are discovering ways for imaging solutions to reinvigorate heritage and line-of-business (LOB) application ventures. A document imaging solution with an automated workflow delivers more productive work processes and helps with decreasing costly paper handling with smart intelligent document routing, which saves cash.
Furthermore, the rising demand for workplace efficiency also drives the global document imaging market. The joining of advanced technology like real-time tracking solutions, artificial intelligence, and distributed computing arrangements are supposed to flood the item interest. For instance; as per the news published on 4th August 2021, eGrove Systems Corporation declared an integrated high-level agile document and time tracking project management. This element expanded workplace efficiency by utilizing progressed software solutions. Furthermore, consolidating the software empowers the organizations to deal with the workplace environment and accomplish their goals.
However, rising data privacy fears and regulatory compliances may hamper the market growth. In spite of that, the growing trend of records digitalization can offer more opportunities for the further growth of the document imaging market.
North America is expected to dominate the global document imaging market because of better infrastructure and adoption of digitization in document management, technological advancement coupled with partnership activities within the region. For instance; in June 2019, Eastman Kodak Company reported the accessibility of the KODAK SMILE instant print digital camera and the KODAK SMILE instant digital printer. It helps organizations with upgrading their document imaging item pipeline.
The Asia Pacific is the fastest-growing region in the global document imaging market due to the rising investment in the development of advanced technology and the presence of key companies in this region.
Middle East and Africa
|2018 - 2021
|2022 - 2028
|Market Size in 2020:
|USD 118.40 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2027:
|USD 242.34 Billion
|Tables, Charts & Figures:
|Document Imaging Companies
|Fujitsu, Aramex, Hewlett-Packard Company, Newgen Software Technologies Limited, Canon Inc., Kodak Alaris Inc, Xerox Corporation, QorusDocs Ltd., Eastman Kodak Company, CBSL Group, IBM, Epson America Inc., Aramex, Adobe Toshiba America Business Solutions Inc., Others
|By Deployment, By Component, By End-User
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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