LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global document scanner market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
| The global document scanner market is expected to grow at a CAGR of 16.42% in terms of unit shipment and 13.85% in terms of revenue during the forecast period. |
Sunil Kumar Singh, a lead analyst from Technavio, specializing in research on computing devices sector, says, “The demand for document scanners is high especially in sectors such as the banking, telecom, and government, where a significant portion of the work is related to sharing information and documents. The ease of use of scanners helps organizations receive and transfer documents on and off the network.”
The demand for scanners will grow more during the forecast period, as customers across the globe are increasingly adopting mobile computing devices. Customers (employees in an organization or individuals) are expected to use such devices for sharing and reading documents. Vendors will generate revenue due to premium pricing of certain products and declining ASPs. The vendors are expected to generate additional revenue in the market by offering customized scanning solutions for large enterprises and small businesses. Vendors are also expected to strengthen their after-sales service and sales network by penetrating the market in developing regions such as APAC.
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The top three emerging trends driving the global document scanner market according to Technavio hardware and semiconductor research analysts are:
- Shift toward cloud computing
- Popularity of handheld document scanners
- Integration of document scanning solutions with business processes
Shift toward cloud computing
Mobile cloud computing includes cloud computing, mobile computing, and wireless networks. It enables users to access internet-based data and applications through mobile computing devices such as smartphones and tablets. These mobile computing devices comprise a mix of web-based apps and native apps. Mobile cloud apps such as Google Mail and Google Voice are increasingly used by both business organizations and individual customers.
“Mobile cloud computing enables business customers to access company data and share files. Mobile devices play a crucial role during a corporate meeting arranged outside of the office, where the business professional do not have access to enterprise Wi-Fi. Mobile hotspots can be used to connect multiple devices, enabling them to share project-related information and emails,” according to Sunil.
Popularity of handheld document scanners
Handheld document scanners are gaining traction among individual consumers, especially among students, as they can be used for studying in public or college libraries. Handheld document scanners help avoid queuing for a photocopier and the scans can also have editable text, which saves time. Some handheld scanners exclusively capture text and provide text files that can be edited. They are called pen scanners, and they read a line at a time.
VuPoint, The Wolverine, TaoTronics Scanner SVP combo scanner, and Ectaco C-Pen are some of the popular handheld scanners. They are not expected to make much of an impact in the market due to the fact that there are document scanning apps available across all operating system of smartphones, and there is also high penetration of smartphones among individual consumers.
Integration of document scanning solutions with business processes
Enterprises are focusing on developing efficient digital business processes that involve multiple operational processes including document scanning. They have shifted their focus from hardware to software and are demanding solutions that can be integrated with existing software infrastructure. These solutions need to be cost-effective and easy to use. This has compelled vendors to focus on solutions that can be integrated with existing business processes and provide customized solutions to enterprises. Vendors are benefiting from this, as customized solutions provide an additional source of revenue and involve regular maintenance and services that have high profit margins.
The key vendors are as follows:
- Canon
- Epson
- Fujitsu
- HP
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