Press release
Industrial Automation Fuels Growth In The Scanner Software Market: Powering Innovation and Expansion in the Scanner Software Market by 2025
Scanner Software
What Is the Expected CAGR for the Scanner Software Market Through 2025?
The market size of scanner software has experienced rapid expansion in the most recent years. The growth forecast suggests it will increase from $5.12 billion in 2024 to $5.72 billion in 2025, exhibit a compound annual growth rate (CAGR) of 11.6%. The surge during the historic period can be credited to the improvement in scanning hardware technology, digital transformation, compatibility with office applications, betterment of OCR (optical character recognition) functions, as well as the emergence of cloud computing and storage.
What's the Projected Size of the Global Scanner Software Market by 2029?
The predicted expansion of the scanner software market is substantial in the coming years, with an expectation to reach $8.75 billion by 2029 growing at a compound annual growth rate (CAGR) of 11.2%. Factors contributing to this anticipated growth, over the forecast period, encompass initiatives for digitization, observance of regulatory compliance, the rising trend of remote work, and amalgamation with other systems. It is foreseen that during this same forecast period, there will be an escalating demand for AI-enabled document processing, intensified focus on security measures, integration with IoT devices for more efficient workflows, and a rapid increase in the use of mobile scanning applications.
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Top Growth Drivers in the Scanner Software Industry: What's Accelerating the Market?
Industrial automation's escalating growth is anticipated to fuel scanner software market expansion in the future. Industrial automation encapsulates the application of control systems, like robots or computers, along with information technologies for managing various processes and equipment in an industry, eliminating the need for human interference. Its rapid proliferation is chiefly due to its unique ability to boost productivity and efficiency, which is a result of technological advancements and the burgeoning demand for more streamlined processes. Scanner software plays a crucial role in automating and simplifying document and barcode processing, enhancing data management and operational workflow efficiency. For example, the International Federation of Robotics, a non-profit organization for industrial robotics based in Germany, reported that in September 2024, the number of operating industrial robots rose by 10% from 2022 to 4,281,585 units in 2023. Thus, the upward trajectory of industrial automation is a significant factor propelling the scanner software market's growth.
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What Trends Will Shape the Scanner Software Market Through 2029 and Beyond?
Leading firms in the scanner software market are prioritizing the development of innovative solutions, such as interfaces for smartphone scanning, to attain a competitive advantage. A smartphone scanning interface allows for effective data capturing through the use of mobile cameras, and it is specially designed for barcode scanning. For example, Scandit AG, a technology-oriented organization based in Switzerland, introduced SparkScan in January 2023. It's a bespoke smartphone scanning interface engineered for high-performing barcode scans, aimed at making data capture processes in scan-intense operations like retail inventory management and receiving of logistic goods more efficient. SparkScan can effortlessly integrate with any smartphone app without the need for redesigning the app and can be implemented quickly with a few lines of code. Its various scanning modes and configurations provide users flexibility to tailor scanning activities for different tasks. A user-friendly interface has been developed for SparkScan enhancing aiming and triggering irrespective of the device's orientation, thereby improving comfort and productivity.
What Are the Main Segments in the Scanner Software Market?
The scanner software market covered in this report is segmented -
1) By Type: On-Premise, Cloud-Based
2) By Application: Original Equipment Manufacturer (OEM), Aftermarket
3) By Industry: Retail, Banking, Financial Services And Insurance, Telecommunication And Information Technology, Healthcare, Transportation And Logistics, Energy, Other Industries
Subsegments:
1) By On-Premise: Installation And Setup, Software Maintenance, Security Management
2) By Cloud-Based: Cloud Integration, Subscription Services, Data Storage And Backup
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Which Top Companies are Driving Growth in the Scanner Software Market?
Major companies operating in the scanner software market are Panasonic Corporation, Hewlett Packard Inc., Fujitsu Limited, Canon Inc., Adobe Inc., Xerox Corporation, Brother Industries, Thomson Reuters Corporation, Seiko Epson Corporation, Kodak Alaris, Nuance Communications, Iris Software Inc., Kofax Ltd., Abbyy LLC, Dynamsoft Corp, Contex A/S, Image Access Inc., Microtek International Inc., Visioneer Inc., SimpleIndex, Ambir Technology Inc., Plustek Inc., VueScan, ExactCODE GmbH, ImageWare Systems
Which Regions Will Dominate the Scanner Software Market Through 2029?
North America was the largest region in the scanner software market in 2023. The regions covered in the scanner software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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