Global Document Capture Software Market – Industry Analysis and Forecast (2018-2026)
Global document capture software market was valued US$ 5.03 Bn in 2017 and is expected to reach US$ 11.23 Bn by 2026, at a CAGR of 10.56% during a forecast period.
Document capture software is used to translate physical document into digital representation. It helps in decreasing the workload by managing the complex business workflow. Furthermore, it expands operational efficiency and provides enhanced customer experience.
Rising demand for software as a service (SaaS) based document capture software that facilitates pay-per-use, and has user-friendly interface is an important factor driving growth of the global document capture software market. Furthermore, growing penetration of Internet of Things (IoT), and rising adoption of cloud-based software are other factors projected to boost growth of the market over the forecast period.
However, concerns related to data security during data sharing is limiting growth of the market. Moreover, lack of professional workforce and concerns related to automation are some other factors estimated to hinder growth of the market.
Growing demand for document capture software by healthcare industry to manage records, and to reduce paperwork is estimated to generate potential growth opportunities for key players.
BFSI sector is the largest verticals segment of the document capture software market. Bank regulations are always changing and evolving, so it’s essential for banks of all shapes and sizes to keep up. Additionally, document capture software can help quickly and accurately resolve inquiries with valuable information captured from customer and client documents.
Mobile capture is the leading share solution segment in the document capture software market owing to document processing starts at moment of taking a photo. No need to wait for paper reaches the office. Mobile client creates new opportunities for working with documents. Assist customers with only a smartphone, and prepare field employees with smartphone capture solutions – no need to purchase portable scanners.
North America which consists of the U.S and Canada was the leading region in the document capture software market in 2017. The region accounted for more than one-third of the global market revenue share and is projected to continue its prominent position throughout the forecast period. Asia Pacific is expected to register highest growth rate over the forecast period, owing to growing awareness about benefits of document capture software in business process in emerging economies such as China, and India.
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Some of the key players in global document capture software market are ABBYY Software, Adobe Systems Software Ltd., Artsyl Technologies, Inc, Canon, Inc., CAPSYS Technologies, LLC, DocuLexInc (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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Scope of the Global Document Capture Software Market
Global Document Capture Software Market by Solution
• Multiple Channel Capture
• Cognitive Capture
• Mobile Capture
Global Document Capture Software Market by Deployment Mode
• Cloud
• On-premise
• Hybrid
Global Document Capture Software Market by Enterprise Size
• Small & Medium Enterprises
• Large Enterprises
Global Document Capture Software Market by Verticals
• Retail
• Banking, Financial Services and Insurance
• Telecom and IT
• Healthcare
• Transportation and Logistics
• Energy
• Others
Global Document Capture Software Market by Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
Key Players operating in the Global Document Capture Software Market
• ABBYY Software
• Adobe Systems Software Ltd
• Artsyl Technologies, Inc.
• Canon, Inc.
• CAPSYS Technologies, LLC
• DocuLexInc (DocStar)
MAJOR TOC OF THE REPORT
Chapter One: document capture software Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global document capture software Market Competition, by Players
Chapter Four: Global document capture software Market Size by Regions
Chapter Five: North America document capture software Revenue by Countries
Chapter Six: Europe document capture software Revenue by Countries
Chapter Seven: Asia-Pacific document capture software Revenue by Countries
Chapter Eight: South America document capture software Revenue by Countries
Chapter Nine: Middle East and Africa Revenue document capture software by Countries
Chapter Ten: Global document capture software Market Segment by Type
Chapter Eleven: Global document capture software Market Segment by Application
Chapter Twelve: Global document capture software Market Size Forecast (2019-2026)
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