The global document imaging market is poised for substantial growth, with projections indicating an increase from USD 119.7 billion in 2022 to an estimated USD 267.7 billion by 2029. This remarkable expansion reflects a robust Compound Annual Growth Rate (CAGR) of 12.2% over the forecast period, highlighting the escalating demand for document imaging solutions across various industries.
Document imaging technology, comprising nearly 45% of the global printing technology market, is set to play a pivotal role in reshaping digital transformation strategies worldwide. Businesses are increasingly turning to document imaging hardware such as scanners, printers, and advanced software solutions to streamline operations and enhance efficiency.
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Key Takeaways – Document Imaging Market Study
- Utilization of integral automated workflow technology and centralization of documents offer well-timed transfer to stakeholders. The shift of users from manual to automated workflow is boosting demand for document imaging software.
- In terms of value, cloud-based deployment is identified as a preferred alternative.
- Companies are migrating from traditional server host to cloud host, fueling document imaging market growth.
- Software will create an incremental opportunity of over US$ 70 Bn.
- Sales of document imaging solutions are projected to be high in Western European and North American countries owing to strong presence of market leaders.
Cloud-Hosted Software with Infrastructure Management Service
Many companies are preferring cloud-hosted document imaging software to reduce their hardware maintenance costs and complexities. In addition, companies also choose vendors who offer features such as cloud hostage and maintenance services. Thus, they can grab the opportunity to increase their customers by providing such facilities and features through their document imaging software.
In November 2021, Xerox Corporation announced the launch of new ECi e-automate software. This new integration shortens many back-office tasks from days to hours.
Competitive Landscape
Many major document imaging system manufacturers tend to invest heavily in product innovation to discover increased applications of document imaging. Using printing technology, suppliers seek to expand their partner base to accelerate their business transformation and growth goals.
- Hewlett-Packard Company
- Epson
- Canon Co., Ltd.
- Fujitsu Co., Ltd.
- Toshiba Corporation
- Newgen Software Technology Limited
- Adobe Systems, Inc.
More Valuable Insights on Document Imaging Market
Future Market Insights, puts forward an unbiased analysis of the global market for global document imaging market, providing historical data for period 2014-2021 and forecast statistics for the period 2022-2029.
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Document Imaging Market Research by Categories
By component:
- document imaging software
- document imaging hardware
- scanner
- printer
- microfilm reader
- Other
By Distribution criteria:
- On-premises document imaging
- Cloud document imaging
By end-user:
- Agency
- law firm
- doctor’s practice
- educational institution
- Other
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Japan
- Middle East and Africa
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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