According to IDC’s newly released Asia/Pacific Semiannual Imaging Market Solution Tracker, the Serviceable Available Market (SAM) market for imaging vendors in Asian/Pacific region (excluding Japan) grew from $58.5 billion in 2019 to $71.6 billion in 2023.
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Under the SAM category, markets within the hardware, software and services areas indicate potential expansion opportunities for imaging solution providers. These vendors, having detected the signals, have taken respective actions, including implementing collaborative applications, content workflow and management applications, and enterprise resource management (ERM) solutions.
The center of expansion is anticipated to fall into categories such as robotic process automation software, artificial intelligence software services, and security software. These markets have shown a robust average increase of 37.2% annually over the four years in the SAM. However, when examining the Serviceable Obtainable Market (SOM), hardware and supplies market segments saw declines over the same period, which may be mainly attributed to the shift toward digitalized workflows.
“User choices are no longer confined to the cost performance of hardware alone,” says Mr. Jimmy ErSheng Li, Research Manager, Imaging Domain, IDC. “This shift of workflows becoming increasingly digital provides a strong growth trajectory for Software and Services in the serviceable available market. Such a trend underscores the diversification of conventional vendors’ product offerings beyond hardware towards total office solutions,” he adds.
Imaging vendors will be competing their understanding of traditional document workflows to introduce digital solutions with maximized efficiency and cost-effectiveness. Consequently, IDC expects a broader range of product portfolios for vendors to meet customers’ diversifying demands.
Source: RTM World
Covered By: Imaging Solution / IDC
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