Scanner Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Scanner Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021 •
  • 175 pages •
  • Report ID: 6071794 •
  • Format: PDF
Major players in the scanner market are Zebra Technologies, Hewlett-Packard, Fujitsu Limited, Canon Inc., Epson, Honeywell International Inc, Opticon, SATO Holdings Corporation, Metrologic Instruments, and Epson America Inc.

The global scanner market is expected to grow from $24.9 billion in 2020 to $27.45 billion in 2021 at a compound annual growth rate (CAGR) of 10.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $33.85 billion in 2025 at a CAGR of 5.4%.

The scanner market consists of sales of scanners by entities (organizations, sole traders, and partnerships) that provide scanners, which are input devices that can be connected to computers to optically scan images, print texts, handwriting, or objects and convert them to digital images. Only goods and services traded between entities or sold to end consumers are included.

The availability of alternatives such as scanning documents through smartphones is expected to hinder the growth of the demand for scanners market during the forecasted period.With advancements in technology, smartphones are available with scanning features which can also provide 3D scanning.

For instance, in August 2019, Samsung, a South Korean conglomerate company launched Samsung Galaxy Note10+ with instant 3D scanning capabilities.The mobile phone features a DepthVision camera that uses 3D Time-of-Flight (ToF) technology to allow users to scan objects for quick rendering.

Apart from 3D scanning, there are various applications that are available for smartphones for scanning for documents such as Adobe Scan, Microsoft Office Lens, ScanPro, and CamScanner. Therefore the availability of alternatives in scanning documents and images can restrain the market growth of scanners during the period.
The technological advances is shaping the scanners market.Scanner-based businesses are continually investing in the creation of emerging technology to enhance their company revenue.

For instance, in March 2020, Epson, a Japan-based Electronics company launched Epson WorkForce DS-3000 and DS-32000 A3 sheetfed scanners for business. With strong media versatility, these new scanners deliver high-speed image capture of up to 90ppm (180ipm), making them the perfect entry point to the digital workflow of an organisation and capable of scanning a variety of documents, from large-bound documents to passports.

The scanner market covered in this report is segmented by type into flatbed scanner; sheet-fed scanner; drum scanner; handheld scanner; others. It is also segmented by end-user industry into individual use; commercial use.

The increasing demand for sheet-fed scanners is expected to fuel the growth of the scanner market during the forecasted period.A sheetfed scanner is a computer scanning device primarily designed to scan loose sheets of paper.

The sheetfed scanners are widely used by businesses to scan office documents.Most of the businesses prefer paper digitization because scanning cuts the cost of document management.

It cuts the cost of paper, small supplies such as staplers, scissors, tape, glue, pen, pencils, and also save spaces in the office premises as there is no paper records space required with digitization. Therefore, the increasing demand for digitization is expected to increase the demand for sheet-fed scanners, thus driving the scanner market during the period.