According to a new report published by Allied Market Research, titled, “Scanner Market," The scanner market size was valued at $5.2 billion in 2022, and is estimated to reach $8.7 billion by 2032, growing at a CAGR of 5.7% from 2023 to 2032.
Factors contributing toward the growth of the scanner market include the increasing need for mobility and flexibility. Portable scanners have become a popular choice for users on the go. These scanners are lightweight and compact, making them easy to carry around and scan documents from anywhere. For example, the introduction of automatic document feeders, high-speed scanning capabilities, and wireless connectivity has revolutionized the scanner market and made scanning more efficient and convenient.
Several regulations and compliance requirements, such as HIPAA, Sarbanes-Oxley Act, and GDPR, require businesses to maintain accurate and secure records. Scanners help organizations to comply with these regulations by providing a reliable and efficient way to digitize and store documents which is anticipated to offer potential growth opportunities for the global scanner industry.
In addition, scanners have become more affordable over the years, making them accessible to a broader range of users. This has increased their popularity and driven the growth of the scanner market. Additionally, the cost savings from reduced paper usage and increased efficiency further drive the demand for scanners. In addition, the surge in demand for flatbed scanners is expected to create lucrative opportunities during the forecast period.
The global scanner market analysis is segmented into types, end-user, and region. On the basis of type, it is categorized into flatbed scanner, sheetfed scanner, handheld scanner, and drum scanner. In 2022, the flatbed scanner segment dominated the scanner market share, in terms of revenue. As per end-user, it is fragmented into individual and commercial. The commercial segment acquired the largest Scanner Market Share in 2022 and is expected to grow at a significant CAGR from 2023 to 2032.
Flatbed scanners are increasingly offering higher optical resolutions to capture more detailed and sharper scans. Higher resolution allows for better reproduction of fine details and ensures the accuracy of scanned images or documents.Faster Scanning Speeds: Manufacturers are focusing on improving the scanning speed of flatbed scanners to enhance productivity. Faster scan speeds reduce the time required to digitize documents, making it more efficient for high-volume scanning tasks.Flatbed scanners have been a popular choice for many users due to their versatility and ability to scan various types of documents, including books, photographs, and fragile or irregularly shaped items.
Flatbed scanners are increasingly being equipped with wireless connectivity options such as Wi-Fi or Bluetooth. This enables users to connect and scan directly to their computers or mobile devices without the need for a physical connection. Wireless scanning provides greater flexibility and convenience, especially in shared office spaces.
Region-wise, the scanner market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). North America remains a significant participant in the scanner industry.
KEY FINDINGS OF THE STUDY
- The scanner market growth is expected to continue growing in the coming years, driven by increasing demand for laminated products across various industries, technological advancements, and a growing trend towards sustainability.
- The growing trend towards sustainability is driving the adoption of eco-friendly materials in the production of laminated products. Scanners that use sustainable materials and processes are in high demand, and manufacturers are investing in the development of environmentally friendly scanners.
- Asia Pacific is the largest market for scanners, driven by the increasing demand for scanner products in industries such as packaging, building materials, and automotive. The region is also home to some of the largest manufacturers of scanners.
- The scanner market is highly competitive, with several major players operating globally. To remain competitive, companies are focusing on product innovation, strategic partnerships, and expanding their distribution networks.
The key scanner market leaders profiled in the report include Seiko Epson Corporation, Zebra Technologies, Hewlett-Packard Company, Fujitsu, Canon Inc., Honeywell International Inc., Brother Corporation, Colortrac, Xerox Corporation, and DYMO, Inc. Market players have adopted various strategies such as product launch, acquisition, expansion, and others to expand their foothold in the scanner market.