Global Desktop Document Reader Market - 2023-2030

Global Desktop Document Reader Market - 2023-2030

Global Desktop Document Reader Market reached US$ 0.3 billion in 2022 and is expected to reach US$ 0.8 billion by 2030, growing with a CAGR of 8.7% during the forecast period 2023-2030.

During the forecast period, the market is expected to develop due to an increase in the number of immigrants and the increased acceptance of e-passports. Furthermore, technology improvements such as optical character recognition, which is used to convert images of typed or printed text into machine-encoded text from a document photo, a scanned document or a scene-photo, are likely to increase demand for a passport reader.

RFID tags encode a passport holder's personal information. Gemalto NV has announced the release of the AT9000 MK2 passport reader, which can read and authenticate various documents swiftly and effortlessly. The newly released reader is capable of reading ID cards, passports, visas, ePassports, driver's licences, national IDs and military common access cards from printed documents and mobile phones.

Asia-Pacific is expected to have the highest CAGR over the forecast period holding a market share of about 1/4th of the global desktop document reader market. Countries such as China and India are predicted to create considerable income over the next six years due to the existence of various manufacturers and the development of innovative goods like as self-service kiosks, combo readers and others.

Dynamics

Rising Digital Transformation and Remote Working

Organisations throughout the world are prioritising digital transformation activities in order to remain competitive and adaptable in a fast changing business landscape. Desktop document readers are critical to this shift because they provide tools for digitising paper documents, automating procedures and assuring effective document management. The need to move away from paper-based procedures and towards digital workflows has fueled the widespread adoption of desktop document readers in a variety of industries.

The extraordinary rise of remote work is one of the primary drivers of the global desktop document reader industry. Desktop document readers are indispensable for professionals working from home in terms of document scanning, conversion and collaboration. The market has responded to the demand for solutions that allow for smooth remote access, document sharing and virtual collaboration, boosting productivity in scattered work environments.

Enhancements in Security and Advancements in AI

The incorporation of AI technologies is a major force boosting the capabilities of desktop document readers. AI-powered optical character recognition (OCR), natural language processing (NLP) and machine learning methods improve document processing accuracy and efficiency. Advanced capabilities like as intelligent search, content classification and automated data extraction are enabled by the technologies.

As organisations seek to extract relevant insights from their papers, AI-powered desktop document readers are playing an important role in converting raw data into valuable business knowledge. The growing emphasis on data security and privacy is a major factor affecting desktop document reader adoption.

Organisations prioritise systems with comprehensive security measures, particularly in areas dealing with sensitive information such as healthcare, banking and legal. The selection of desktop document readers is influenced by major issues such as encryption, access controls and compliance with data protection standards. In an era of escalating cyber dangers, the necessity to protect personal information has pushed the industry towards solutions that prioritise data protection.

High Costs and Technological Complexity

The initial expenditures of adopting desktop document reader systems, including hardware and software components, might be significant. It could be a deterrent, especially for small and medium-sized firms (SMEs) with restricted expenditures. It can be difficult to integrate desktop document readers into existing workflows and business systems.

It may be difficult for organisations to align document readers with their own processes and provide seamless interaction with other software programmes. Document management must take security and privacy into account. Concerns about the security of sensitive information, potential data breaches or noncompliance with data protection rules may cause organisations to be cautious to deploy desktop document readers.

Segment Analysis

The global desktop document reader market is segmented based type, technology, application and region.

Growing Adoption of Bar Codes in Various Industries

Barcode is expected to drive the market by holding a share of about 1/3rd of the global market in 2022. Barcodes can help to reduce data entry errors, which can be costly and time-consuming to correct. By reducing the risk of human error, barcode scanning can improve accuracy and productivity. It has been shown to be a faster and more efficient technique of data collecting than manual methods.

Barcodes allow for speedier scanning, allowing for faster checkouts in retail outlets, faster tracking and processing of products in logistics and faster patient processing in healthcare. Barcodes are used to trace goods as they move through the supply chain, giving firms more flexibility and control. Cognex Corp. launched the DataMan 580, a fixed-price barcode scanner, in January 2023 to optimise logistical processes via edge intelligence, management and performance options to monitor real-time system performance and enhance operations.

Geographical Penetration

Rising Document Security in North America

During the forecast period, North America is the dominant region in the global desktop document reader market covering more than 1/3rd of the market. The region's dominance is due to the increasing number of aviation passengers. The growing usage of e-passports at hotels, airport terminals, immigration checkpoints and other sites is raising demand for passport readers in the region.

Desktop document readers are used to manage sensitive information securely in industries such as healthcare and finance, which have stringent regulatory and compliance requirements. The widespread use of advanced document management solutions is driven by regulatory compliance, such as HIPAA in healthcare and numerous banking requirements.

Document readers with advanced capabilities like optical character recognition (OCR), e-signature integration and cloud connectivity continue to be in great demand. Organizations need solutions that connect smoothly with their existing systems and increase overall efficiency. The industry is seeing continuous technical improvements, such as the incorporation of artificial intelligence (AI) and machine learning (ML) technologies into document readers.

Competitive Landscape

The major global players in the market include Adobe Systems, Microsoft Corporation, Nikon, Nuance Communications, ReadSoft, Xerox Corporation, IBM, Google, Dropbox and Hewlett-Packard.

COVID-19 Impact Analysis

Organizations globally quickly adopted remote work solutions with lockdowns and social distancing measures in place. As professionals required tools for effective document processing and administration from their home offices, the demand for desktop document readers surged. The epidemic sparked digital transformation projects across industry. Companies have accelerated their efforts to digitize records, automate operations and improve collaboration.

Desktop document readers aided these attempts by providing scanning, OCR and document organization facilities. The shift to remote work emphasized the significance of document security. As organizations tried to protect sensitive information in a scattered work environment, desktop document readers with advanced security features such as encryption and access restrictions gained popularity.

AI Impact

AI-powered OCR technology has considerably increased text recognition accuracy and efficiency in document readers. It enables desktop document readers to extract text with great precision from photographs or scanned documents, making them more versatile in dealing with varied document formats. AI techniques allow document readers to automatically classify and categories materials.

Machine learning models can be trained to recognize patterns and structures within documents, allowing users to more effectively organize and retrieve information. Document readers powered by AI excel at extracting important data from unstructured documents. The is especially useful in businesses dealing with enormous numbers of papers, such as financial, legal and healthcare.

Russia- Ukraine War Impact

Geopolitical crises, such as the conflict between Russia and Ukraine, can affect global supply networks. If either Russia or Ukraine plays a substantial role in the production or supply of components for desktop document readers, the manufacturing and distribution processes may be disrupted. Businesses may become more conservative in their investment and purchase decisions, perhaps resulting in delays or decreases in expenditure on office equipment such as document readers.

Geopolitical developments can cause regulatory settings to alter. Changes in rules or compliance requirements may have an impact on the features and functionalities that organizations seek in document readers in order to satisfy new standards. Businesses that want to encourage remote work arrangements might invest in technologies that make document sharing, collaboration and efficient information management easier.

By Type
• Portable
• Fixed

By Technology
• OCR
• QR Code
• Bar Code
• Others

By Application
• Airlines and Airports
• Security and Government
• Hotels and Travel Agencies
• Banks
• Train and Bus Terminals
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• On June 2023, Adobe Systems introduced Adobe Acrobat Pro, which uses Adobe Sensei AI-powered services to optimize PDFs for screen readers. The new Auto-Tag tool will now employ AI to better detect headings, paragraphs, sections, tables and other page elements while also indicating the reading order.
• On 2020, Thales launched the world's only double-sided ID card reader, the first to be able to analyze ID cards or driving licenses in the cloud1 in under four seconds. The clever reader's architecture enables for faster processing while maintaining high security and giving cost savings to operators.

Why Purchase the Report?
• To visualize the global desktop document reader market segmentation based on type, technology, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of desktop document reader market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global desktop document reader market report would provide approximately 61 tables, 60 figures and 203 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies