The global document scanner market is expected to grow by USD 1.28 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled Global Document Scanner Market 2020-2024 (Graphic: Business Wire)
Security is one of the major challenges observed in paper-based systems as they can be easily damaged, replicated, lost, or stolen. Placing and storing these confidential paper documents in cabinets leaves them vulnerable to tampering. The is leading to an increase in the demand for data security enhancement. It can be enhanced by scanning the papers to not only encrypt and track the documents but also maintain a backup. Sharepoint, account package, HR system, and customer relationship management (CRM) allow secured sharing of these scanned papers among authorized users. Thus, the data security enhancement obtained by document scanners will boost the growth of global document scanner market during the forecast period.
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As per Technavio, the need for data recovery will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Document Scanner Market: Need for Data Recovery
Document scanners are gaining prominence in various end-user industries as they enable data recovery during disasters such as floods and fires or manmade disasters. Organizations are adopting e-vaulting solutions as they can electronically protect these scanned documents or copies. The scanned documents can also be backed up in clouds or hard drives. Thus, the benefits of maintaining scanned copies is leading to the adoption of document scanners, which is expected to showcase a positive outlook for the market during the forecast period.
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Document Scanner Market: Segmentation Analysis
This market research report segments the document scanner market by industry application (government, BFSI, IT, healthcare, and others), and geographic segmentation (APAC, Europe, MEA, North America, and South America).
The APAC region led the document scanner market in 2019, followed by North America, Europe, South America, and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as rising adoption of high-level automation across industries and increasing awareness to improve the operational efficiency and business process productivity.
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Some of the key topics covered in the report include:
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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