Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on document capture software market provides in-depth
analysis of segments and sub-segments in the global as well as regional
document capture software market. The study also highlights the impact of
drivers, restraints, and macro indicators on the global and regional document
capture software market over the short term as well as long term. The report is
a comprehensive presentation of trends, forecasts, and dollar values of the global
document capture software market. According to the report, the global document
capture software market is projected to grow at a CAGR of 12.1% over the
forecast period of 2020-2026.
Document Imaging and Content
Management technologies, which can make important business information
available, have been around for decades. Most large and medium-sized businesses
have executed document management capture software solutions. The document capture
process engages the digitization of data entry and it gives the ability to save
documents to be referenced later as digital files (generally in a PDF file
format). Data extraction happens through OCR (optical character recognition)
technology. This technology utilizes high-speed scanners to capture and file
the new document accordingly. Document capture software reads the characters
and maps them in the system. Data capture involves a process known as indexing,
which is simply a simple way to categorize a document in the program.
Document capture software offers
an easier and more rapid way to process the company’s paperwork. It’s a
reliable way to stay organized, save time, and reduce the demands of
back-office administration when the user is dealing with a high volume of
documents. Further, it makes the use of document management systems easier,
augments productivity, and increases the speed of business processes, as a
result achieving more benefits with the same resources. Moreover, it also
serves to renovate the company's operations. Collaborating and sharing
information in the company is easier and safer by digitizing the documentation
and carrying out the electronic capture of documents. The factors such as
Increasing demand for document management, the growing trend of the mobile
workforce, coupled with multiple benefits offered by document management
software are driving the document capture software market growth. Increasing
Adoption of document capture software by small and medium-sized enterprises
(SMEs) is fueling the document capture software market growth. The effects of
COVID-19 has been quick and substantial on the global document capture
software. The pandemic has resulted in being a major disrupter, shifting the
global dynamics. Manufacturing companies around the world are now focusing on
developing plans to reduce the aftershocks of this pandemic. The pandemic has
led to large-scale distress to supply bases, assembly plant closures, and
further downshift to the declining consumer demand.
Geographically, the North American region accounted for the largest market share for document capture software.
This region is identified as the major adopter of emerging technologies such as
big data analytics, IoT, and BI tools. The Asia Pacific and European regions
have the fastest-growing market. The growing adoption of cloud-based enterprise
applications and growing technological advancement are influencing the market
growth in the Asia Pacific and Europe. Furthermore, the increasing amount of
data, investments in the market and rising penetration of the internet is
propelling the market growth.
The report on the global document
capture software market covers segments such as deployment type, solution,
organization size, and industry. On the basis of deployment type, the
sub-markets include on-premise, cloud, and hybrid. On the basis of solution,
the sub-markets include cognitive capture, mobile capture, and multiple-channel
capture. On the basis of organization size, the sub-markets include large
enterprises and small & medium enterprises. On the basis of industry, the
sub-markets include telecom & IT, banking, transportation & logistics,
financial services & insurance, retail, healthcare, energy, and others.
The report provides profiles of
the companies in the market such as KOFAX INC., KnowledgeLake, Eastman Kodak
Company, IBM Corporation, Hyland Software, Inc., Ephesoft Inc, Dell Inc,
DocStar, CAPSYS Technologies, Inc., and Artsyl Technologies, Inc.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO analysis
of the document capture software market. Moreover, the study highlights current
market trends and provides forecasts from 2020-2026. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
Request Quote