In line with a paradigm shift of business industry towards a paperless ecology, the global document imaging market generated revenues worth US$ 70 Bn in 2018. The market will thrive at a robust double digit CAGR during 2019 – 2029, attributing to the accelerating adoption of automated document imaging solutions that can provide secure print and document imaging services. The recent past has seen rapidly growing interest of customers in multi-functional printers and mobile printing apps. Organizations seeking automation are mainly looking for automated supply and service fulfillment scanners.
Key Takeaways – Document Imaging Market Study
- Utilization of integral automated workflow technology and centralization of documents offer well-timed transfer to stakeholders. The shift of users from manual to automated workflow is boosting demand for document imaging software.
- In terms of value, cloud-based deployment is identified as a preferred alternative.
- Companies are migrating from traditional server host to cloud host, fueling document imaging market growth.
- Software will create an incremental opportunity of over US$ 70 Bn.
- Sales of document imaging solutions are projected to be high in Western European and North American countries owing to strong presence of market leaders.
In an effort to reach a superior level of information security, collaboration, and governance, enterprises from across the globe are embracing the paperless transition. Document imaging has come up as a reliable means to facilitate this transformation. Government entities, educational institutions, law firms, and several industries remain prime users of this technology.
Cloud-Hosted Software with Infrastructure Management Service
Many companies are preferring cloud-hosted document imaging software to reduce their hardware maintenance costs and complexities. In addition, companies also choose vendors who offer features such as cloud hostage and maintenance services. Thus, they can grab the opportunity to increase their customers by providing such facilities and features through their document imaging software.
In November 2018, Xerox Corporation announced the launch of new ECi e-automate software. This new integration shortens many back-office tasks from days to hours.
These insights are based on a report on Document Imaging Market by Future Market Insights.