Document scanning is nothing but the conversion of paper documents into useful and accessible digital files, such as: PDF, TIFF, JPEG, and other formats. Document scanning services are widely used in various industries such as healthcare, legal firms, BFSI, government, education, e-commerce and logistics, architecture firms, and others. The increasing demand for document scanning services in the medical sector is expected to drive the global and japan document scanning services market growth during the forecast period. Moreover, the rising adoption of smartphones, smart scanners, and connecting technologies such as Wi-Fi, Bluetooth 5.0, and the Internet of Things (IoT) are expected to drive demand for these services during the forecast period.
The global and Japan document scanning services market is expected to witness significant growth during the forecast period (2020–2027). The increasing demand for document scanning services in the medical sector is expected to drive the global and Japan document scanning services market growth during the forecast period. Due to advancements in technologies such as optical character recognition (OCR), many hospitals and clinics are adopting paperless management systems and paperless medical records. As in the medical industry, every firm faces a huge amount of data entry work, which also include numerous paperwork. Thus, many firms are adopting document scanning services and converting data into electronic health records (EHR), which reduces time wasted in billing, reduces cost of scanning, and create enough storage space in the organizations. For instance, according to Stratagem Market Insight analysis, NHS, The National Health Service, a publicly funded healthcare system in England save US$ 425.4 million a year, in order to save money and also to improve the quality of care. Thus, scanning medical records solution saw a 30% reduction in paper-handling costs.
Moreover, a huge amount of data is generated in the hospitals and clinics, owing to the increasing number of patients being treated and the rising number of medical facilities. Management of data and the need to minimize the use of paper to reduce operational costs and storage issues are expected to drive the market growth during the forecast period.
There are many possible vulnerabilities present in managing the document services. The vulnerabilities such as data and security breaches, identity theft, sharing of sensitive information, and other threats of cyberattacks. This will damage the reputation of the organization and eventually hamper the confidence of people who is running the business. This in turn, may create liability to lawsuits and criminal penalties. Important information is stored in cloud and databases, which enable cybercriminals to disrupt valuable company data and use it to enter unlawful dealing. Besides, data privacy, crucial document management security concern, and need for huge investment are expected to hamper the market growth during the forecast period.
In the Japan the companies are focused on adopting strategies such as partnerships in order to expand their global presence. For instance, in September 2020, Fuji Xerox Co., Ltd., a Japan-based company, together with Ripcord Inc., the leading robotics and integrated SaaS digitization company based in California, U.S. established a joint venture FUJIFILM RIPCORD in Tokyo, Japan. This newly formed company offers digital transformation services such as the digitalization of paper documents, automation, and systems connections in Japan and the Asia Pacific region.
Impact of COVID-19:
The rapid outbreak of COVID-19 across the globe has significantly affected all the industries globally. The situation caused significant deterioration in economic conditions and government had to shut down commercial as well as educational sectors for a specific period. Strict containment measures have resulted in a drop of economic activities and the business environment of many organizations has changed. For instance - the ongoing and planned projects of construction, mining, and other industries have been delayed, or cancelled. The impact of COVID 19 on the Global and Japan document scanning services market can be divided into two types: short time impact and long term impact. In the short term impact, the document scanning services market witnessed various types of challenges such as lack of proper logistic infrastructure during the COVID 19 pandemic to collect and deliver documents, and others which resulted in drop of the companies’ revenue. For instance, Iron Mountain Inc., a U.S.-based storage and information management services providing company, witnessed 2.7% drop in the revenue in year 2020 compared to 2019. This drop in revenue is mainly attributed to COVID-19’s impact on the business.
North America held the dominant position in the global document scanning services market during the forecast period
North America held dominant position in the global document scanning services market in 2020, accounting for 34% share in terms of value, followed by Asia Pacific and Europe.
Figure 1: Global Document Scanning Market Share (%), By Region, 2020
North America accounted for the highest market share in the global document scanning services market over the forecast period. The growth in the region is attributed to the rising penetration of core technologies such as OCR (Optical Character Recognition), ICR (Intelligent Character Recognition), and the presence of technology giants in the region such as Iron Mountain Inc., Access Scanning Document Services, LLC, and others.
Asia Pacific is expected to exhibit highest CAGR over the forecast period owing to the increasing adoption of cloud-based document scanning services among various organizations. Document Scanning offers a safe repository of data which can also be shared on cloud or local document management system enabling recovery of important documents in just a simple click. For instance, Essjay Copier Pvt. Ltd., an India-based company, offers document scanning services and secure storage in the cloud.
|Base Year:||2020||Market Size in 2020:||US$ 2,852.8 Mn|
|Historical Data for:||2017 to 2019||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||9.6%||2028 Value Projection:||US$ 5,834.9 Mn|
Access Scanning Document Services, LLC, Ripcord, Inc., Armstrong Archives, LLC, Chicago Records Management Inc., Cube Records Management Services, The Scanning Company, Smooth Solutions Inc., VENSO Technologies, Shoreline Records Management, Inc., Pearl Scan, iGuana, Cleardata UK Ltd., KnowledgeLake, Microimage Technologies Limited, ScanWorld Station Limited, The Apache Software Foundation, Advanced Data Solutions, Inc., Blue-Pencil Information Security Inc., Iron Mountain Inc., Flatworld Solutions Pvt. Ltd., Royal Imaging, Pacific Records Management, DataGuard USA (Record Nations), Scanning America Inc.
|Restraints & Challenges:||
Offsite Service is expected to drive the market growth during the forecast period
Among service type, the offsite service segment is expected to hold dominant position in the global document scanning services market during the forecast period. In off-site document scanning, documents can be collected or shipped to the service provider company’s secure conversion centers and then scanning operations are performed. Most businesses look to expand their presence online and choose to carry out business operations digitally and are finding ways to achieve effective document digitisation. Businesses are now looking to digitise entire archives to keep up with their competitors. Rising need to achieve effective document digitisation coupled with reliable and cost effective document conversion processes offered by off-site document scanning services are expected to drive the market growth. Many organizations such as education institutes, banks, e-commerce and logistics companies, etc. choose off-site scanning services to undertake their digitisation projects. With an offsite scanning, businesses can be assured that their documents are going to be suitably looked after throughout the entire digitisation process.
Figure 2: Global Document Scanning Market Share (US$ Mn) Analysis and Forecast, 2017 - 2028
Key Takeaways of the Graph:
Figure 3: Japan Document Scanning Market Share (US$ Mn) Analysis and Forecast, 2017 - 2028
Key Takeaways of the Graph:
Major players operating in the global document scanning services market include Access Scanning Document Services, LLC, Ripcord, Inc., Armstrong Archives, LLC, Chicago Records Management Inc., Cube Records Management Services, The Scanning Company, Smooth Solutions Inc., VENSO Technologies, Shoreline Records Management, Inc., Pearl Scan, iGuana, Cleardata UK Ltd., KnowledgeLake, Microimage Technologies Limited, ScanWorld Station Limited, The Apache Software Foundation, Advanced Data Solutions, Inc., Blue-Pencil Information Security Inc., Iron Mountain Inc., Flatworld Solutions Pvt. Ltd., Royal Imaging, Pacific Records Management, DataGuard USA (Record Nations), Scanning America Inc.
Digitization is the process of scanning paper documents and converting them into electronic formats. Most of the companies are scanning documents, in order to save cost, increase productivity, and also to improve access to the information. The digitization of documents can prevent the loss of sensitive information by providing backup in case of loss or damage to the physical documents. The high-speed scanners are used to scan documents into digital images. For instance, in April 2020, iGuana, a Belgium-based company that provides digitization services, announced collaboration with Qidenus Technologies, an Austria-based company that manufactures V-shaped and robotic scanners, to enhance Qidenus Mastered Book Scanner to ensure top scan quality and top performance in book scanning environment.
Document outsourcing consists of intelligent character recognition (ICR) and optical character recognition (OCR) methods, in order to convert hand-written documents into electronic information. Moreover, due to the increasing demand for outsourcing document scanning services in organizations, document outsourcing service providers are trying to solve a business challenge by providing value-added services to their customers. For instance, Ricoh Ltd., specializing in office imaging equipment, production print solutions, document management systems, and IT services, introduced document process outsourcing services for organizations in order to outsource their document business processes. The outsourced service providers help organizations to reduce the overall cost, enhance productivity, and improve workflow efficiencies in the organizations.
The increasing demand for document scanning services in the logistics sector in Japan is expected to drive the market growth during the forecast period. Logistics document scanning services help transport companies to digitize and organize documents in such a way that will improve operational efficiency. These services are used by both small and medium enterprises (SMEs) and large enterprises to keep track of their workflow. For instance, in September 2020, Ripcord Inc., a U.S.-based leading robotics digitization company announced joint venture with Fuji Xerox Co., Ltd., a Japan-based company, which manufactures xerographic and document-related products and services, in order to bring digital transformation technologies in Japan and the APAC region. Through this joint venture, Ripcord Inc. and Fuji Xerox help their customers to streamline operations, accelerate digitization, reduce costs, reduce labor costs associated with digitizing and improve customer experiences.
The document scanning method captures detail from the paper document and converts it into digital format for ease of storage, retrieval, search, and use. Most of the business enterprises in Japan are adopting document scanning services, in order to save time and money in the organization. It can reduce storage costs and resources needed to maintain and retrieve records. Document scanning makes it easy to share documents and collaborate on projects without any need for paper information.
Document scanning not only benefits the business but also protects the environment as well. It enormously cut down the consumption of paper, stationery items, ink, and many others. Document scanning also plays important role in streamlining the work processes and improving workplace productivity. For instance, Canon Inc., a Japan-based company who manufacture lenses, cameras, medical equipment, and scanners, is taking steps to protect its business and reduce risk by converting paper documents into digital information. The document scanning services help businesses against loss of files, reduce operating costs, and enable safe transfer of products or business records.
Increasing adoption of document digitization services in Japan is driving the growth of the market. The companies prefer scanning paper documents and converting them into electronic formats in order to save cost, increase productivity, and also to improve access to the information.
For instance, in March 2021, NTT DOCOMO Inc., a Japan-based mobile operator company, signed a partnership with Ripcord, a U.S.-based robotic digitization company that launched a new digital transformation (DX) solution. The robotic approach to DX solution replaces manual, error-prone, labor-intensive processes and replaces traditional approaches with new automation technologies such as robotics and machine learning.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.