Portland, OR, June 29, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Scanner Market By Type (Flatbed Scanner, Sheetfed Scanner, Handheld Scanner, and Drum Scanner), End-User (Individual and Commercial) Global Opportunity Analysis and Industry Forecast, 2022–2032: Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global scanner industry generated $5.2 billion in 2022, and is anticipated to generate $8.7 billion by 2032, witnessing a CAGR of 5.7% from 2023 to 2032.
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Prime determinants of growth
The global scanner market is driven by factors such as surge in penetration of document management needs and growing need for handheld scanners. However, the increasing shift toward paperless workflows restricts the market growth. Moreover, the increase in technological advancements presents new opportunities in the coming years.
Report Coverage and Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $5.2 billion |
| Market Size in 2032 | $8.7 billion |
| CAGR | 5.7% |
| No. of Pages in Report | 215 |
| Segments covered | Type, End-User, and Region |
| Drivers | Surge in penetration of document management needs |
| Growing need for handheld scanners | |
| Opportunities | Increase in technological advancements |
| Restraints | Increasing shift toward paperless workflows |
COVID-19 Scenario:
- The COVID-19 epidemic significantly changed the dynamics of the supply chain, raised demand for e-commerce packaging, and brought attention to health and safety precautions, all of which influence the scanner market.
- Many businesses had to swiftly adjust to the growth in e-commerce by developing packaging that can endure the rigours of shipping and handling.
- The pandemic had intensified the attention on sustainable scanning solutions as people looked for eco-friendly choices.
The flatbed scanner segment to maintain its leadership status throughout the forecast period
Based on type, the flatbed scanner segment held the highest market share in 2022, accounting for more than half of the global scanner market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to the increasing demand for digital document management, archiving, and reproduction. While the market has faced some competition from alternative scanning technologies like sheet-fed scanners and portable scanners, flatbed scanners continue to hold a significant share due to their versatility and superior image quality. The handheld scanner segment is projected to manifest the highest CAGR of 6.84% from 2023 to 2032, as Handheld scanners offer the flexibility to scan documents or barcodes on the go, without the need for bulky scanning equipment.
The commercial segment to maintain its leadership status throughout the forecast period
Based on end-user, the commercial segment held the highest market share in 2022, accounting for nearly three-fifths of the global scanner market and is estimated to maintain its leadership status throughout the forecast period. Commercial scanners are increasingly equipped with advanced features and software that enable workflow automation. However, the same segment is projected to manifest the highest CAGR of 6.07% from 2023 to 2032, scanners are being integrated with enterprise content management (ECM) systems, customer relationship management (CRM) platforms, and other business software.
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Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly half of the global scanners market revenue and is likely to dominate the market during the forecast period. In Asia-Pacific, logistics companies require high-speed scanners for efficient processing of shipping documents, while e-commerce platforms utilize scanners for inventory management, barcode scanning, and order fulfilment. However, the same region is expected to witness the fastest CAGR of 6.56% from 2023 to 2032. Scanners with advanced security features, such as encryption, secure document capture, and access controls are in demand to protect sensitive information during the scanning process. The rapid expansion of e-commerce in the region is also expected to drive the growth of the scanner market.
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Leading Market Players:
- ZEBRA TECHNOLOGIES
- HP DEVELOPMENT COMPANY, L.P.
- FUJITSU
- CANON INC.
- SEIKO EPSON CORP
- HONEYWELL INTERNATIONAL INC.
- XEROX CORPORATION
- BROTHER CORPORATION
- DYMO, INC.
- COLORTRAC
The report provides a detailed analysis of these key players in the global scanner market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits For Stakeholders:
- This study comprises analytical depiction of the scanner market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall scanner market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current scanner market forecast is quantitatively analyzed from 2022 to 2032 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the scanner system.
- The report includes the market share of key vendors and scanner market trends.
Scanner Market Key Segments:
By Type:
- Flatbed Scanner
- Handheld Scanner
- Sheetfed Scanner
- Drum Scanner
By End-User:
- Individual
- Commercial
By Region:
- North America (U.S., Canada, and Mexico)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East and Africa)
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