The global document imaging market size is expected to grow from US$ 119.7 Billion in 2022 to US$ 267.7 Billion by 2029. The document imaging market is anticipated to grow at a CAGR of 12.2% from 2022 to 2029.
| Attribute | Details |
|---|---|
| 2022 Market Value | US$ 119.7 Billion |
| 2029 Market Value | US$ 267.7 Billion |
| CAGR% (2022 to 2029) | 12.2% |
| Share of Top 5 Market Players | 25% |
Document imaging accounts for almost 45% market share of the global printing technology market. The global market for document imaging market is anticipated to show significant growth in coming years. This attributes to the increasing adoption of document imaging hardware such as scanners, printers, and document imaging software across various business verticals. The growing adoption of smart scanning systems and wireless printing technology boosts the demand for the document imaging market.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 15.0% |
| H1,2022 Projected (P) | 14.8% |
| H1,2022 Outlook (O) | 14.0% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 80 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (-) 100 ↓ |
The rapid shift of various firm files and data from on-premise computers to cloud storage. Cloud services are critical for document management systems because they provide a platform that allows users to rapidly access their papers, conveniently make comments to differentiate one from another, and precisely categorize each file based on its contents. This eliminates the use of various document imaging hardware like printers, scanners, etc.
According to FMI analysis, the variation between the BPS values observed in the document imaging market in H1, 2022 - Outlook (O) over H1, 2022 Projected (P) reflects a decline of 80 units. The reason behind this is the increasing digitalization in document sharing and editing. The ability to access documents anytime, anywhere with the help of mobile phones is also a reason for the decline in sales of document imaging products. In addition, compared to H1, 2022 (O) over H1, 2021 Actual (A) also reflects a decline of 100 units.
The reason behind this is that there is a decline in the use of document imaging electronics in various government organizations and educational institutions. The government is also promoting the digitization of various documentation processes and discouraging the use of papers in various fields.
The global document imaging market is estimated to be valued at US$ 48.7 Billion in 2014. The demand for document imaging is expected to rise at the rate of a CAGR of 11.5% during the period from 2014 to 2021. The growth in North America is supported by rising demand for digitalized documentation across industries, over the years. The document imaging hardware segment is set to register the highest market share 67.5% of the total global document imaging market share in 2022.
Document image processing system used to convert paper documents into bitmaps (digital images) by electronic transfer or scanning process. These digital copies can be organized by index values and indexed with metadata in the document management system. Scanning or printing software helps to start or edit, print, and scan data directly from the computer. Through this software, end users can select pages, color, length, format, and other requirements of that particular scan and print copies.
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The demand for document imaging is expected to show significant growth in the coming years. This attributes to various factors such as increasing demand for automated workflow, rising adoption of cloud-based document imaging solutions, and going-green initiatives with paperless documents.
Document imaging solutions with an automated workflow deliver more efficient workflows and helps to reduce costly paper handling with intelligent document routing, which saves money. Therefore, the demand for automated workflow increases over the manual and it drives the demand for document imaging systems. Moreover, technology like Big Data analytics in document imaging is also driving the adoption of document imaging systems.
The document imaging system also saves hidden costs of a business workflow such as misfiling, labor costs, office and storage space, paper, and other operational expenses. Thus, such factors are expected to drive the growth of the document imaging market.
The COVID-19 pandemic has had a significant impact on nearly all spheres of the global economy. Due to restricted connectivity during the lockdown, supply chains, exchange and transfer of essential goods and services, and distribution of various commodities have all been affected. Due to factors such as the rising adoption of online education and paperless process across various sectors, the demand for imaging documents is set to witness significant growth, over the forecasted period.
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Currently, the USA market anticipates the largest consumption of document imaging systems in the North American region and is expected to grow at 9.5% CAGR from 2022 to 2029. The USA document imaging market is expected to reach 1.8X by 2029.
The USA market witnessed significant growth in the document imaging market, attributed to the presence of developed IT infrastructure and emerging large and small & medium-scale enterprises in the country.
Rising adoptions of digitalization in document management infrastructure across various industry verticals and technological advancements in document imaging software and hardware by key players in the country are set to drive the growth of the document imaging market in the USA.
China is set to register exponential growth in the Asian document imaging market with a CAGR of 14.1% from 2022 to 2029. China's market is anticipated to create an absolute dollar opportunity of US$ 9,600 Million from 2022 to 2029.
For instance, the China-United Kingdom collaboration on International Forest Investment & Trade (InFIT) and the Chinese Academy of Forestry (CAF) developed their own timber legality standards and frameworks. Through this collaboration, CNFPIA announced timber legality requirements for transport and sales, document management, legality verification for imported and domestic timber, development of a timber legality management system, and trading & processing. Such development in the country helps to reduce manual courier-based and paper-driven documentation processes and it is set to fuel the demand for the document imaging market in China.
The German market is set to report the largest consumption of document imaging systems in the Europe region, and the market size is expected to reach 2.2X by 2029. The German market is anticipated to create an absolute dollar opportunity of US$ 5,500 Million from 2022 to 2029.
The demand for document imaging solutions in Germany is driven by the presence of developed infrastructure for advanced technology such as Big Data, adoption of automation, and cloud-based document imaging solutions across the industry. Germany witnesses a large number of emerging start-ups such as Conatix, COI, Tutum, Padrino, Ninox, and others. Thus, the presence of emerging document management startups in Germany spurs the demand for the document imaging market.
Document imaging hardware segment by component will dominate the document imaging market and is expected to reach 1.5X by 2029. Moreover, the document imaging software segment is set to witness the highest growth rate of 13.5% CAGR from 2022 to 2029.
The demand for document imaging hardware is attributed to the rising adoption of scanners, printers, and microfilm readers by various end-users such as government, hospitals, and other industries, across the globe. Therefore, migration from manual to automated document workflow is contributing to the demand for document imaging hardware segment in recent years.
On the basis of deployment, the on-premise segment will be a dominating segment. The market size of the on-premise segment is expected to expand up to 2.0X by 2029. Moreover, the cloud segment is set to register the highest growth at the rate of CAGR of 13.8% from 2022 to 2029.
On-premise segment constitutes the highest market share in the global document imaging market. Document imaging solutions help to reduce costly paper handling with intelligent document routing, and save money and time for law firms, medical practitioners, educational institutions, and others. Moreover, the rising adoption of cloud-based document imaging solutions across the globe by many enterprises is supposed to drive the demand for document imaging solutions, during the forecasted period.
The market size of government organizations segment by end user is set to expand up to 2.2X by 2029. Moreover, the law firms segment is set to register the highest growth at the rate of CAGR 13.5% from 2022 to 2029.
Document imaging solutions help government organizations in various tasks such as automatic distribution, document routing, document printing, track printing, customized electronic forms, document barcoding, document control, and other features. Thus, many government organizations started using document imaging solutions to save the cost of paper-based document management. Also rising adoption of digitization in law firms across the globe is expected to drive the demand for document imaging solutions in the law firms segment in coming years.
Many key document imaging system manufacturers are inclined at investing heavily in product innovations to uncover increased applications of document imaging. With the use of printing technology, vendors also try to accelerate their business transformation and growth objectives by increasing their partner base.
| Attribute | Details |
|---|---|
| Market value in 2021 | US$ 104.1 Billion |
| Market CAGR 2014 to 2021 | 11.5% |
| Share of top 5 players | Around 25% |
| Forecast Period | 2022 to 2029 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | USD Million for Value |
| Key regions covered | North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, Middle East, and Africa |
| Key countries covered | USA, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC countries, Turkey, Northern Africa, and South Africa |
| Key market segments covered |
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| Key companies profiled |
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| Report Coverage | Market forecast, company share analysis, competition intelligence, Drivers, Restraints, Opportunities and Threats analysis, market dynamics and challenges, and strategic growth initiatives |
| Customization & pricing | Available upon request |
The global document imaging market is valued at over US$ 104.1 Billion in 2021.
The factors such as the transition towards document automation and digitalization in healthcare, government organizations, educational institutions, and other verticals across the globe are driving the document imaging market.
From 2014 to 2021, demand for document imaging increased at a CAGR of 11.5%.
Sales of document imaging are projected to increase at 12.2% CAGR and be valued at over US$ 267.7 Billion by 2029.
The USA, United Kingdom, India, China, and Germany are major demand countries for document imaging solutions.
1. Executive Summary | Document Imaging Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Product Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
5. Global Market Demand Analysis 2014 to 2021 and Forecast, 2022 to 2029
5.1. Historical Market Size (US$ Million) Analysis, 2014 to 2021
5.2. Current and Future Market Size (US$ Million) Projections, 2022 to 2029
5.3. Y-o-Y Growth Trend Analysis
6. Market Background
6.1. Macro-Economic Factors
6.2. Forecast Factors – Relevance & Impact
6.3. Value Chain Analysis
6.4. Market Dynamics
6.4.1. Drivers
6.4.2. Restraints
6.4.3. Opportunity Analysis
7. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, By Component
7.1. Introduction / Key Findings
7.2. Historical Market Size (US$ Million) Analysis By Component, 2014 to 2021
7.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Component, 2022 to 2029
7.3.1. Software
7.3.2. Hardware
7.3.2.1. Scanner
7.3.2.2. Printers
7.3.2.3. Microfilm Readers
7.3.2.4. Others
7.4. Market Attractiveness Analysis By Component
8. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, By End-user
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Million) Analysis By End-user, 2014 to 2021
8.3. Current and Future Market Size (US$ Million) Analysis and Forecast By End-user, 2022 to 2029
8.3.1. Government Organization
8.3.2. Law Firms
8.3.3. Physician Practices
8.3.4. Educational Institution
8.3.5. Others
8.4. Market Attractiveness Analysis By End-user
9. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, By Deployment
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Million) Analysis By Deployment, 2014 to 2021
9.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Deployment, 2022 to 2029
9.3.1. On-premise
9.3.2. Cloud
9.4. Market Attractiveness Analysis By Deployment
10. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, by Region
10.1. Introduction
10.2. Historical Market Size (US$ Million) Analysis By Region, 2014 to 2021
10.3. Current Market Size (US$ Million) Analysis and Forecast By Region, 2022 to 2029
10.3.1. North America
10.3.2. Latin America
10.3.3. Western Europe
10.3.4. Eastern Europe
10.3.5. Asia Pacific excluding Japan
10.3.6. Japan
10.3.7. Middle East and Africa (MEA)
10.4. Market Attractiveness Analysis By Region
11. North America Market Analysis 2014 to 2021 and Forecast 2022 to 2029
11.1. Introduction
11.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2014 to 2021
11.3. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2029
11.3.1. By Country
11.3.1.1. USA
11.3.1.2. Canada
11.3.2. By Component
11.3.3. By End-user
11.3.4. By Deployment
11.4. Market Attractiveness Analysis
11.4.1. By Country
11.4.2. By Component
11.4.3. By End-user
11.4.4. By Deployment
11.5. Market Trends
11.6. Key Market Participants - Intensity Mapping
11.7. Drivers and Restraints - Impact Analysis
12. Latin America Market Analysis 2014 to 2021 and Forecast 2022 to 2029
12.1. Introduction
12.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2014 to 2021
12.3. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2029
12.3.1. By Country
12.3.1.1. Brazil
12.3.1.2. Mexico
12.3.1.3. Rest of Latin America
12.3.2. By Component
12.3.3. By End-user
12.3.4. By Deployment
12.4. Market Attractiveness Analysis
12.4.1. By Country
12.4.2. By Component
12.4.3. By End-user
12.4.4. By Deployment
12.5. Market Trends
12.6. Key Market Participants - Intensity Mapping
12.7. Drivers and Restraints - Impact Analysis
13. Western Europe Market Analysis 2014 to 2021 and Forecast 2022 to 2029
13.1. Introduction
13.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2014 to 2021
13.3. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2029
13.3.1. By Country
13.3.1.1. Germany
13.3.1.2. Italy
13.3.1.3. France
13.3.1.4. United Kingdom
13.3.1.5. Spain
13.3.1.6. BENELUX
13.3.1.7. Rest of Western Europe
13.3.2. By Component
13.3.3. By End-user
13.3.4. By Deployment
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Component
13.4.3. By End-user
13.4.4. By Deployment
13.5. Market Trends
13.6. Key Market Participants - Intensity Mapping
13.7. Drivers and Restraints - Impact Analysis
14. Asia Pacific excluding Japan Market Analysis 2014 to 2021 and Forecast 2022 to 2029
14.1. Introduction
14.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2014 to 2021
14.3. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2029
14.3.1. By Country
14.3.1.1. China
14.3.1.2. India
14.3.1.3. ASEAN
14.3.1.4. Australia & New Zealand
14.3.1.5. Rest of Asia Pacific excluding Japan
14.3.2. By Component
14.3.3. By End-user
14.3.4. By Deployment
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Component
14.4.3. By End-user
14.4.4. By Deployment
14.5. Market Trends
14.6. Key Market Participants - Intensity Mapping
14.7. Drivers and Restraints - Impact Analysis
15. Eastern Europe Market Analysis 2014 to 2021 and Forecast 2022 to 2029
15.1. Introduction
15.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2014 to 2021
15.3. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2029
15.3.1. By Country
15.3.1.1. Russia
15.3.1.2. Poland
15.3.1.3. Rest of Eastern Europe
15.3.2. By Component
15.3.3. By End-user
15.3.4. By Deployment
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Component
15.4.3. By End-user
15.4.4. By Deployment
15.5. Market Trends
15.6. Key Market Participants - Intensity Mapping
15.7. Drivers and Restraints - Impact Analysis
16. Japan Market Analysis 2014 to 2021 and Forecast 2022 to 2029
16.1. Introduction
16.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2014 to 2021
16.3. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2029
16.3.1. By Component
16.3.2. By End-user
16.3.3. By Deployment
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Component
16.4.3. By End-user
16.4.4. By Deployment
16.5. Market Trends
16.6. Key Market Participants - Intensity Mapping
16.7. Drivers and Restraints - Impact Analysis
17. Middle East and Africa Market Analysis 2014 to 2021 and Forecast 2022 to 2029
17.1. Introduction
17.2. Pricing Analysis
17.3. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2014 to 2021
17.4. Market Size (US$ Million) Forecast By Market Taxonomy, 2022 to 2029
17.4.1. By Country
17.4.1.1. GCC Countries
17.4.1.2. Turkey
17.4.1.3. Northern Africa
17.4.1.4. South Africa
17.4.1.5. Rest of Middle East and Africa
17.4.2. By Component
17.4.3. By End-user
17.4.4. By Deployment
17.5. Market Attractiveness Analysis
17.5.1. By Country
17.5.2. By Component
17.5.3. By End-user
17.5.4. By Deployment
17.6. Market Trends
17.7. Key Market Participants - Intensity Mapping
17.8. Drivers and Restraints - Impact Analysis
18. Emerging Countries Market Analysis 2014 to 2021 and Forecast 2022 to 2029
18.1. Introduction
18.1.1. Market Value Proportion Analysis, By Key Countries
18.1.2. Global Vs. Country Growth Comparison
18.2. China Market Analysis
18.2.1. Introduction
18.2.2. Market Value Proportion Analysis by Market Taxonomy
18.2.3. Market Value (US$ Million) Analysis and Forecast by Market Taxonomy
18.2.3.1. By Component
18.2.3.2. By End-user
18.2.3.3. By Deployment
18.2.4. China Market - Competition Landscape
18.2.5. China - Trade Analysis
18.3. India Market Analysis
18.3.1. Introduction
18.3.2. Market Value Proportion Analysis by Market Taxonomy
18.3.3. Market Value (US$ Million) Analysis and Forecast by Market Taxonomy
18.3.3.1. By Component
18.3.3.2. By End-user
18.3.3.3. By Deployment
18.3.4. India Market - Competition Landscape
18.4. Russia Market Analysis
18.4.1. Introduction
18.4.2. Market Value Proportion Analysis by Market Taxonomy
18.4.3. Market Value (US$ Million) Analysis and Forecast by Market Taxonomy
18.4.3.1. By Component
18.4.3.2. By End-user
18.4.3.3. By Deployment
18.4.4. Russia Market - Competition Landscape
19. Market Structure Analysis
19.1. Market Analysis by Tier of Companies
19.2. Market Concentration
19.3. Market Share Analysis of Top Players
19.4. Market Presence Analysis
19.4.1. By Regional Footprint of Players
19.4.2. Product foot print by Players
19.4.3. Channel Foot Print by Players
20. Competition Analysis
20.1. Competition Dashboard
20.2. Pricing Analysis by Competition
20.3. Competition Benchmarking
20.4. Competition Deep Dive
20.4.1. Hewlett-Packard Company
20.4.1.1. Overview
20.4.1.2. Product Portfolio
20.4.1.3. Profitability by Market Segments (Product/Channel/Region)
20.4.1.4. Sales Footprint
20.4.1.5. Strategy Overview
20.4.1.5.1. Marketing Strategy
20.4.1.5.2. Product Strategy
20.4.1.5.3. Channel Strategy
20.4.2. Epson America Inc.
20.4.2.1. Overview
20.4.2.2. Product Portfolio
20.4.2.3. Profitability by Market Segments (Product/Channel/Region)
20.4.2.4. Sales Footprint
20.4.2.5. Strategy Overview
20.4.2.5.1. Marketing Strategy
20.4.2.5.2. Product Strategy
20.4.2.5.3. Channel Strategy
20.4.3. Canon Inc.
20.4.3.1. Overview
20.4.3.2. Product Portfolio
20.4.3.3. Profitability by Market Segments (Product/Channel/Region)
20.4.3.4. Sales Footprint
20.4.3.5. Strategy Overview
20.4.3.5.1. Marketing Strategy
20.4.3.5.2. Product Strategy
20.4.3.5.3. Channel Strategy
20.4.4. Fujitsu Ltd.
20.4.4.1. Overview
20.4.4.2. Product Portfolio
20.4.4.3. Profitability by Market Segments (Product/Channel/Region)
20.4.4.4. Sales Footprint
20.4.4.5. Strategy Overview
20.4.4.5.1. Marketing Strategy
20.4.4.5.2. Product Strategy
20.4.4.5.3. Channel Strategy
20.4.5. Toshiba Corporation
20.4.5.1. Overview
20.4.5.2. Product Portfolio
20.4.5.3. Profitability by Market Segments (Product/Channel/Region)
20.4.5.4. Sales Footprint
20.4.5.5. Strategy Overview
20.4.5.5.1. Marketing Strategy
20.4.5.5.2. Product Strategy
20.4.5.5.3. Channel Strategy
20.4.6. Newgen Software Technologies Limited
20.4.6.1. Overview
20.4.6.2. Product Portfolio
20.4.6.3. Profitability by Market Segments (Product/Channel/Region)
20.4.6.4. Sales Footprint
20.4.6.5. Strategy Overview
20.4.6.5.1. Marketing Strategy
20.4.6.5.2. Product Strategy
20.4.6.5.3. Channel Strategy
20.4.7. Adobe Systems Incorporated
20.4.7.1. Overview
20.4.7.2. Product Portfolio
20.4.7.3. Profitability by Market Segments (Product/Channel/Region)
20.4.7.4. Sales Footprint
20.4.7.5. Strategy Overview
20.4.7.5.1. Marketing Strategy
20.4.7.5.2. Product Strategy
20.4.7.5.3. Channel Strategy
20.4.8. Xerox Corporation
20.4.8.1. Overview
20.4.8.2. Product Portfolio
20.4.8.3. Profitability by Market Segments (Product/Channel/Region)
20.4.8.4. Sales Footprint
20.4.8.5. Strategy Overview
20.4.8.5.1. Marketing Strategy
20.4.8.5.2. Product Strategy
20.4.8.5.3. Channel Strategy
20.4.9. IBM Corporation
20.4.9.1. Overview
20.4.9.2. Product Portfolio
20.4.9.3. Profitability by Market Segments (Product/Channel/Region)
20.4.9.4. Sales Footprint
20.4.9.5. Strategy Overview
20.4.9.5.1. Marketing Strategy
20.4.9.5.2. Product Strategy
20.4.9.5.3. Channel Strategy
20.4.10. Eastman Kodak Company
20.4.10.1. Overview
20.4.10.2. Product Portfolio
20.4.10.3. Profitability by Market Segments (Product/Channel/Region)
20.4.10.4. Sales Footprint
20.4.10.5. Strategy Overview
20.4.10.5.1. Marketing Strategy
20.4.10.5.2. Product Strategy
20.4.10.5.3. Channel Strategy
21. Assumptions and Acronyms Used
22. Research Methodology
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Document Imaging Market
