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Scanner Market Overview: Segmentation, Outlook, and Trends Report 2033
Scanner Market Overview
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According to The Business Research Company's, The scanner market size has grown strongly in recent years. It will grow from $2.67 billion in 2023 to $2.83 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to document digitization and paperless trends, business process automation, government regulations and compliance, library and archiving needs, educational sector demand.
The scanner market size is expected to see strong growth in the next few years. It will grow to $3.55 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to integration with cloud services, remote work and collaboration tools, healthcare industry digitization, advancements in 3d scanning, consumer adoption for personal use. Major trends in the forecast period include focus on energy efficiency, rise of portable and handheld scanners, document management software integration, enhanced security features, adoption of ai and machine learning.
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Market Drivers and Trends:
Increasing demand for digitalization and automation is expected to propel the growth of the scanner market going forward. Digitization is the process of converting analog information into digital format, while automation is the automatic execution of tasks without periodic interference. Scanners play a crucial role in digitization and automation by converting physical documents into digital format, which can then be easily stored, accessed, and processed by computers. For instance, in March 2023, according to the International Monetary Fund, a US-based financial agency of the United Nations, digitalization across advanced economies increased by an average of 6 percentage points. Furthermore, in August 2022, according to Eurostat, a Luxembourg-based government agency, more than 90% of EU (European Union) SMEs (small-medium enterprises) should reach at least a basic level of digital intensity by 2030. Therefore, increasing demand for digitalization and automation is driving the growth of the scanner market.
Technological advances are shaping the scanners market. Scanner-based businesses are continually investing in the creation of emerging technology to enhance their company revenue. For instance, in July 2023, Canon Inc., a Japan-based imaging technologies company, launched imageFORMULA R30 document scanner. Canon imageFORMULA R30 is a versatile and easy-to-use scanner that is ideal for home offices and small businesses that can scan double-sided documents in batches of up to 60 sheets. It also comes with CaptureOnTouch Lite software, which allows users to convert scanned documents to a variety of file formats and make them searchable using keywords.
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Major Key Players of the Market:
Hewlett-Packard Development Company LP, Honeywell International Inc., Fujitsu Limited, Canon Inc., Seiko Epson Corporation, Xerox Corporation, Brother Industries Ltd., Zebra Technologies Corporation, Contex A/S, SATO Holdings Corporation, Epson America Inc., Faro Technologies Inc., Iris Software Private Limited, Creaform Inc., Opticon Inc., Dymo Industries Inc., Metrologic Group SAS, Image Access Corp., Handheld Group Ltd., Zeutschel GmbH, Artec 3D Inc., Microtek International Inc., Plustek Inc., Visioneer Inc., Metrologic Instruments Inc., Platypod Pro LLC, EVA Vision Ltd., Qidenus Technologies GmbH, EasyScan BV, Colortrac Ltd.
Scanner Market 2024 Key Insights:
• The scanner market size is expected to see strong growth in the next few years. It will grow to $3.55 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
• Rising Demand For Digitalization And Automation Fuels Scanner Market Growth.
• Technological Advancements Shape The Scanners Market
• The Asia-Pacific was the largest region in the scanner market in 2023
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