Document Scanning Services Global Market Report 2024

The document scanning market size has grown rapidly in recent years. It will grow from $4.19 billion in 2023 to $4.67 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth during the historical period can be attributed to several key factors, including widespread digitization initiatives, advancements in scanning technology, reductions in operational costs, stringent compliance requirements, and enhancements in business process optimization.

The document scanning market size is expected to see rapid growth in the next few years. It will grow to $7.27 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The anticipated growth during the forecast period can be attributed to the escalating volume of digital documents, a surge in demand for cloud-based solutions, heightened focus on data security and privacy, the emergence of AI and automation technologies, and trends pertaining to remote workforces. Key trends expected to shape this period include heightened adoption of AI and machine learning, a rise in cloud-based document management solutions, intensified focus on security and compliance measures, greater integration with enterprise content management (ECM) systems, and the expansion of mobile scanning solutions.

The rising adoption of electronic health records (EHRs) is anticipated to drive the growth of the document scanning services market. EHRs are digital versions of patients' medical histories, including detailed health and medical information such as diagnoses, medications, treatment plans, immunization dates, allergies, lab test results, and more. The shift towards EHRs is fueled by the growing prevalence of chronic diseases, the need to reduce healthcare costs, and the demand for improved patient care quality and safety. Document scanning for EHRs involves transforming paper-based medical documents, such as patient charts and laboratory results, into digital formats, enhancing the efficiency of storage, retrieval, and sharing within EHR systems. For example, a 2021 report by the Office of the National Coordinator for Health Information Technology in the US indicated that nearly all non-federal acute care hospitals (96%) and about 78% of office-based physicians had implemented certified EHR technology. This widespread adoption of EHRs is propelling the expansion of the document scanning services market.

Leading players in the document scanning services sector are focusing on developing high-volume intelligent document processing solutions to secure a competitive edge. These advanced systems are designed to handle and intelligently process large volumes of documents, such as invoices, checks, and purchase orders, integrating capabilities such as document separation, classification, extraction, and imprinting at high speeds. For instance, in April 2023, Imaging Business Machines LLC (ibml), a prominent US-based software firm, introduced the FUSiON HD High Volume Document Scanner. This device meets the stringent imaging quality standards of the Federal Agencies Digital Guidelines Initiative (FADGI) 3 star, offering an industry-leading scan speed of 122 pages per minute at 600 DPI. It enables the rapid digitization of high-quality documents while complying with rigorous archival standards. Equipped with the ibml Capture Suite software and a FADGI Verification module, the scanner ensures consistent image quality and productivity.

In June 2023, Imaging Business Machines LLC (ibml), a leading US-based software company, completed the acquisition of Exela Technologies' IntelliScan Smart Scanning Solutions for an undisclosed sum. This strategic move significantly broadens ibml's portfolio and extends its service reach, reinforcing its position in the market for high-volume digitization and intelligent document processing solutions. Exela Technologies Inc. is an American business process automation (BPA) firm known for its document digitization and high-volume scanning capabilities.

Major companies operating in the document scanning services market are International Business Machines Corporation, Fujitsu Limited, Iron Mountain Incorporated, Nikon Inc., Agfa-Gevaert NV, Nuance Communications Inc., Eastman Kodak Company, Flatworld Solutions Private Limited, BenQ Corporation, Chicago Records Management Inc., Smooth Solutions Inc., KnowledgeLake, Microimage Technologies Limited, Pearl Scan Solutions Ltd., DataGuard USA LLC, The Apache Software Foundation, Armstrong Archives LLC, VENSO Technologies Pvt Ltd., Pacific Records Management, Digiscribe International LLC, Document Imaging Solutions LLC, Royal Imaging Services LLC, Cleardata UK Ltd., Blue-Pencil Information Security Inc., Ripcord Inc.

North America was the largest region in the document scanning services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the document scanning services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the document scanning services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Document scanning services are provided by specialized companies or agencies that convert physical documents into electronic formats. This process includes the rapid scanning of paper documents, files, and records, which are then transformed into digital images or searchable PDFs (Portable Document Format). These services enable organizations to digitize their paper-based documents, thereby simplifying management, storage, and retrieval.

The primary forms of document scanning services are onsite and offsite. Onsite document scanning involves a specialized team traveling to a client's premises, such as offices or storage sites, to perform the digitization of paper documents directly on location. This service caters to a variety of document types including medical records, legal documents, blueprints and maps, proof of delivery, HR documents, newspapers and magazines, as well as accounts payable and receivable. Various sectors utilize these services, including healthcare, legal, BFSI (banking, financial services, and insurance), government, educational institutions, e-commerce and logistics, architectural firms, among others.

The document scanning services market research report is one of a series of new reports that provides document scanning services market statistics, including document scanning services industry global market size, regional shares, competitors with a document scanning services market share, detailed document scanning services market segments, market trends and opportunities, and any further data you may need to thrive in the document scanning services industry. This document scanning services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The document scanning services market consists of revenues earned by entities by providing services such as document indexing, optical character recognition(OCR) services, file format conversion, retrieval services, and storage services. The market value includes the value of related goods sold by the service provider or included within the service offering. The document scanning services market also includes sales of document scanners, portable scanners and barcode scanners. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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