Document Capture Software – Catalyzing 'Paperless' Operations
According to a new market report published by Transparency
Market Research, the global
document capture software market is expected to reach a
value of US$ 11,384.5Mn by 2026,
supported by rising adoption of compliance initiatives, distributed capture,
and the reduction of expenses by investing in advanced document processing. The
market is projected to expand at a CAGR of 10.3% during the
forecast period from 2018 to 2026. Increasing demand for document management,
growing trend of mobile workforce, coupled with multiple benefits offered by
document management software are encouraging the higher adoption of document
capture software. In addition, rising penetration of mobile devices is boosting
the global demand for mobile based document capture software. Asia Pacific is
anticipated to be the fastest growing region during the forecast period which is
expected to be followed by Europe. Document capture software is experiencing
flourishing growth in terms of adoption across different industry verticals
around the globe. Increase in the implementation of big data analytics and
machine learning offered by vendors is further contributing to the growth of
the document capture software market.
Major Key Players of
the Document Capture Software Market are:
ABBYY Software, Adobe Systems Software Ltd., Artsyl Technologies, Inc,
Canon, Inc., CAPSYS Technologies, LLC, DocuLex Inc (DocStar), EMC Corp.,
Ephesoft Inc., Hyland Software Inc., IBM Corporation, Knowledge Lake Inc.,
Kodak Company, Kofax, Inc., Meniko, Notable Solutions Inc., Nuance,
Communications, Inc., Oracle Corp. and Xerox Corporation.
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Capture Software Market” at: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=36461
Growing list of vendors providing multi-channel capture
solutions likely to boost demand for document capture solutions over the
forecast period
Adoption of document capture software by small and
medium-sized enterprises (SMEs) is increasing mainly due to cost efficiency as
well as limited capital investment required for subscription based (cloud)
services. Installing document capture software in an organization for cost
cutting and time savings (process optimization) is fuelling the growth of the
market substantially with the trend expected to be maintained during the
forecast period.
The global document capture software market is segmented as
below:
Global Document Capture Software Market, by Deployment
- On-Premise
- Cloud
- Hybrid
Global Document Capture Software Market, by Enterprise
Size
- SMEs
- Large
Enterprises
Global Document Capture Software Market, by Solution
- Multiple-Channel
Capture
- Cognitive
Capture
- Mobile
Capture
- Others
Global Document Capture Software Market, by Industry
- Retail
- Banking
- Financial
Services & Insurance
- Telecom
& IT
- Healthcare
- Transportation
& Logistics
- Energy
- Others
(Education, Manufacturing)
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Document Capture Software Market: Scope of the Report
The document capture software market has been segmented on
the basis of parameters such as deployment, enterprise size, solutions, end-use
industry, and geographical regions. In terms of deployment, the market has been
segmented into cloud, on-premise and hybrid services. The enterprise size
segment includes small & medium enterprises (SME’s) and large enterprises.
While considering the solutions based segmentation, the market has been divided
into multiple-capture, cognitive capture, mobile capture and others. In terms
of end-user industry, the market has been segmented into retail, banking,
financial services & insurance, telecom & IT, healthcare,
transportation & logistics, energy and others. The report covers the
analysis of these segments across North America, Europe, Asia Pacific, Middle
East & Africa, and South America, along with the qualitative analysis for
market estimates supplementing the growth of the document capture software
market during the forecast period. Retail, healthcare, and BFSI segments are
anticipated to experience lucrative growth opportunities in the market. In
terms of adoption of document capture software, the retail sector is projected
to expand at a CAGR of approximately 12% during the forecast period from 2018
to 2026.
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