Document Imaging Market: Key Players Focus on Product Innovation to Stay Competi

Posted by chaitali gawande on May 15th, 2019

Some of the prominent names operating in the global document imaging market are Fujitsu Ltd., Hewlett-Packard Company, Canon Inc., Eastman Kodak Company, Xerox Corporation, Qorus Software Ltd., CBSL Group, Epson America, Aramex, and Newgen Software Technologies. While some companies are targeting to capture increased market share by investing in research and development pursuits and develop advanced and upgraded document imaging solutions, some others are expanding their market share by entering into strategic alliances and partnerships.

A report by Transparency Market Research estimates the global document imaging market is likely to expand at a healthy 13.8% CAGR between 2017 and 2025. Progressing at this rate, the market is estimated to become worth US3.05 bn by 2025 increasing from US.16 bn in 2016.

Rising Digitalization has Pushed Asia Pacific to Top Slot in 2016

The segments of the global document imaging market depending upon service are cloud and on-premises. While currently on-premises leads the market, the segment of cloud service is expected to display robust growth over the market and surpass the market share of on-premises.

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The global document imaging market classified based upon region are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America which is segmented into the U.S. and Rest of North America captured the leading share in 2016 backed by the growth in production facilities and rising demand for digitalized documents. However, Asia Pacific displayed the leading growth in 2016 due to rapid adoption rate of digitalization solutions over the years.