Integral Workflow Automation Tools to Propel Document Imaging Demand, Finds FMI

[300 pages Report] The global document imaging market size is expected to grow from US$ 119.7 Bn in 2022 to US$ 267.7 Bn by 2029. The document imaging market is anticipated to grow at a CAGR of 12.2% during 2022-29.

Document imaging accounts for almost 45% market share of global printing technology market. The global market for document imaging market is anticipated to show significant growth in coming years. This attributes to increasing adoption of document imaging hardware such as scanners, printers, and document imaging software across various business verticals. The growing adoption of smart scanning systems and wireless printing technology to boost the demand for the document imaging market.

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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 2021. The market will thrive at a robust double digit CAGR during 2022 – 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 2021, Xerox Corporation announced the launch of new ECi e-automate software. This new integration shortens many back-office tasks from days to hours.
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More Valuable Insights on Document Imaging Market

Future Market Insights, puts forward an unbiased analysis of the global market for global document imaging market, providing historical data for period 2014-2021 and forecast statistics for the period 2022-2029. To understand opportunities of document imaging, the market is segmented on the basis of component (hardware, software), deployment (on premise, cloud), and end user (government organizations, law firms, physician practices, educational institutions, and others), across seven major regions.