Allied Market Research

2024

Document Capture Software Market

Document Capture Software Market Size, Share, Competitive Landscape and Trend Analysis Report, by Deployment Mode, by Solution, by Enterprise Size and, by Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2023-2032

IC : Software and Services

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Author's: | Onkar Sumant
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Document Capture Software Market Insight

Document capture software isa process ofscanning and uploading paper documents to an electronic repository.It is automatically identifies document types such as purchase orders, invoices, checks, packing slips, bills of lading, purchase requisition forms, business-specific documents, and receipts. In addition, document capture software has several advantages such as it helps manufacturers to maximizes asset utilization, improve product quality, reduce time to market, and eliminates paper records.. Adoption of document capture software by various industry verticals such as retail, manufacturing, and government & public sector to convert document into readable form is expected to boost growth of the document capture software market in the future.

Impact of COVID-19 on Document Capture Software Market:

  • Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost all countries around the globe, with the WHO declaring it a public health emergency. The global impacts of the disease are already starting to be felt, and expected to significantly affect the global document capture software market in 2020.
  • As governments have imposed lockdowns to contain spread of the virus, manufacturing and production units are at halt across the globe, which can affect the document capture software market in the short run.
  • Document capture software is expected to aid certain sectors during the COVID-19 situation such as FMCG and pharmaceuticals. The pharmaceutical sector has witnessed a rise in the current situation to maintain record to the treatment of the disease. Document capture software would help to maximize this production and increase operational efficiency without compromising with on quality.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis:

The development of software-as-a-service (SaaS)centered document capture software solutions has permitted organizations to progress efficiency and decrease the cost of deploying appreciated information technology structure, which propel growth of market. In addition,the increasing demand for document capture software in organizations allows data management and increases the effectiveness of data. This increases the demand for the document capture software market. Moreover, there is a growing need for web-based document management solutions, as enabling businesses to securely store, monitor and access digital records in a systematic and efficient way is driving the growth of the market. However, risk related with document sharing and security ishindering the growth of document capture software market. Contrarily, highly advanced applications and extended R&D facility centers across small & medium size businessare expected to provide lucrative opportunities for global document capture software market.

Increasing adoption of SaaS-based document capture market

Increasing adoption of SaaS-based document capture software solutions allows business to decrease expenses and expand their efficiency in installing valuable information technology infrastructure.The SaaS based document capture software is that provides a model with facilitates pay-per-use, and easy accessibility for end users. Growing demand for SaaS-based document capture software is propelling thedemand for document capture software market.

Cloud systems integration in organizations

Cloud systems are expanding and providing a better platform for capturing and storing business processes data. Rising adoption of cloud computing technology in organizations isfuelingdocument capture software market expansion as it enables larger participation from smaller organizations and caters needs of core requirements while decreasing their cost on IT infrastructure integration. Increasing usage of cloud-computing technology in various vertical sector including FMCG, retail, BFSI, healthcare and pharmaceuticals as document capture provides enterprise storage solutions, which will boost the demand for document capture software market in the forecasted years

Key benefits of the report:

  • This study presents the analytical depiction of the global document capture softwareindustry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global document capture softwaremarket share.
  • The current market is quantitatively analyzed to highlight the global document capture softwaremarket growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global document capture softwaremarket analysis depending on competitive intensity and how the competition will take shape in coming years.

Document Capture Software Market Report Highlights

Aspects Details
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By Deployment Mode
  • On-Premise
  • Cloud
  • Hybrid
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By Solution
  • Multiple-Channel Capture
  • Cognitive Capture
  • Mobile Capture
  • Others
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By Enterprise Size
  • Small and Medium Enterprises
  • Large Enterprises
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By Industry Vertical
  • Retail
  • BFSI
  • IT and Telecom
  • Healthcare
  • Transportation and Logistics
  • Energy
  • Others
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By Region
  • North America  (U.S., Canada)
  • Europe  (France, Germany, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

Canon Inc., KnowledgeLake Inc., EMC Corporation, Adobe Systems, Kofax, IBM Corporation, Hyland Software Inc., Capsys Corporation, ABBYY Software, Oracle Corporation

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Document Capture Software Market

Global Opportunity Analysis and Industry Forecast, 2023-2032