Document Imaging Market Size is Expected to Reach USD 242.34 Billion by 2028 Growing with 12.68% CAGR, Says Brandessence Market Research

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Brandessence Market Research and Consulting Private Limited

03 Aug, 2022, 13:30 BST

LONDON, Aug. 3, 2022 /PRNewswire/ -- 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.  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 Market Size, Share & Trends Analysis Report by Deployment (On Premise, Cloud), By Component (Imaging Software, Document Imaging Hardware, Scanner, Printer, Microfilm Reader), By End-User (Government Organization, Document Imaging for Low, For Physician Practice, Educational Institution), Based On Region, And Segment Forecasts, 2022 – 2028

Document Imaging Market: Market Scope

The global document imaging market is expected to see a consistent growth in the coming years as the paper documents get changed over into the electronic pictures which utilize the record imaging. Because of their capacity to give the high data mystery and security, the document imaging tool is getting a lot of popularity. The document imaging is now turning into becoming an essential part of many different endeavors. This also includes the huge data analytics. The rise in demand for the handling of big data and analytics in many organizations is going to be the biggest driving force in the market.

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 Document Imaging Market: Competitive Analysis 

Some of the major document imaging companies 2021 are the companies like Hewlett-Packard Company, Fujitsu Ltd, Canon Inc., Kodak Alaris. Xerox Corporation, Eastman Kodak Company, Qorus Software Ltd, CBSL Group, Aramex, Epson America, Newgen Software Technologies, HP Development Company, L.P., IBM Corporation, Adobe, and Toshiba America Business Solutions, Inc. The global document imaging key players are going to be working on innovation and making their software easier to use for the world.

  • 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

Document Imaging Market: Key Drivers

Document imaging growth drivers refer to extending acknowledgement of consistence drives for the decrease in cost, data caught and also created utilizing the devices which are handheld, developing of utilizations for the cell phones, workstations, tablets among others and the other bring-your-own-device approaches which are getting typical can be termed as some of the main elements that are going to drive the market and its growth in the foreseeable future. Apart from that, the imaging conveys many different advantages over the paper or the microfilm frameworks.

These are advantages which drive the growth of this market. Also, the entrance of the portable, tablets, cell phones and PCs are expanding in a dramatic fashion. This also aids the growth of the market in the coming years. Further, the need to digitalize the clinical records is going to be a major driver for the global document imaging market. The document imaging solutions however are very hard to utilize and need the utilization of a prepared staff. The administrators may not exclusively have knowledge about how the gear is to be used and not know about the utilization of the related projects for modifying and saving the electronic documents.

The administrators need specialized instructions as well as capacities which require the tedious specific preparation. The deficiencies of the talented administrators are one of the issues in the complex innovative regions such as modern center points and IT points are going to be hindering the growth of the market. Further, the security, movement and protection inconveniences will be restraining the market in the next few years.

Document Imaging Market: Key Trends

Document imaging trends suggest that there is a necessity for lessening the working experiences by putting the resources into the creative processing of documents and their access. This will provide a major opportunity for this market in the coming years. Moreover, the major participants are now reaching a consensus on catching the extreme offer by the resources being put into the innovative work pursuits and creating overhauled and progressed arrangements of document imaging which will also offer many opportunities of growth.

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Document Imaging Market: Segmentation Analysis

On the basis of services, the global document imaging market has been dominated by the on-premise service which is going to rule the global market here. This is because the other segment which is the cloud segment has not been adopted as much yet. However, as far as the growth is concerned, the market is going to grow in the cloud market. The cloud assists with the enormous scope of data as well as the checking and printing on the web data. Further, the cloud organizations are preferably organized over the incorporated frameworks for handling the enormous steady data streaming all over the value chain.

The economic benefits which it offers along with the decrease in the chances of losing archives will be driving the growth of the market. the market is going to see growth as the dealings with the data are increasing and they are the heaviest drivers for the market. The huge analytics of data that is coming from the income framing stream is going to be a significant factor of growth for the organizations and consequently for the market. The cloud service will be seeing a significant amount of growth in the coming years and it will be the largest market share.  The cloud service is going to assist with the huge scope of data and filtering. The cloud sending is going to become adaptable and indispensable for an organization for the data capacity. The organizations are becoming cautious about putting the basic reports away in the cloud climate as it would hinder a bit of the growth.

The large data analytics hold the big factor for the potential for an organization all over the world. The data process use in the global document imaging market is going to become more mainstream when it comes to the data analytics. The main factor with respect to the corporates is going to be how they structure the unstructured texts and pictures. The filtered records are used in the form of the components of huge data analytics document.

By Deployment:

  • On-premise
  • Cloud

By Component:

  • Imaging software
  • Document Imaging Hardware
  • Scanner
  • Printer
  • Microfilm reader

By End-User:

  • Government organization
  • Document imaging for low
  • For physician practice
  • Educational institution
  • Other

Document Imaging Market: Regional Analysis

When it comes to the document imaging statistics regionally, the North American region is going to see a significant amount of growth in the coming years. The growing document imaging market all over the world is going to take place because of the IT infrastructure being present. The region has the greatest infrastructure for information technology and that is going to drive the market significantly. the market is going to grow with the fastest reception of the digitalization in the infrastructure of the document management. This takes place across the different sectors and industries. The presentation of the technological advancements and the solutions will be a major part of the regional market being driven. The market will continue to grow as the incorporations grow in their numbers.

On Special Requirement Document Imaging Market Report is also available for below region:

North America

  • U.S, Canada

Europe

  • Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

  • South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

  • Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

  • Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

Recent Developments

  • Epson Launched Document Scanner with Built-in Networking Connectivity for Paper-Intensive Businesses

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.

  • Fujitsu Computer Product of America is Reading Document Imaging with Introduction of Fujitsu Fi-8000 Series

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.

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