Global Document Capture Software Market Scope 2024, Forecast To 2033
19 Feb, 2024
The document capture software market has experienced rapid growth, increasing from $8.78 billion in 2023 to $9.7 billion in 2024, achieving a 10.4% CAGR. This growth is attributed to increased need for efficient document management and organization, compliance requirements and regulatory pressures, growth in the volume of digital and paper-based documents, focus on cost reduction and operational efficiency, and adoption of digital transformation strategies by businesses. The market is expected to see rapid growth, reaching $15.37 billion in 2028, driven by the rise in demand for cloud-based document capture solutions, expansion of remote work and the need for digital document handling, emphasis on data security and privacy compliance, integration with enterprise resource planning (ERP) and other business systems, and the increasing use of mobile document capture applications. Major trends in the forecast period include integration of artificial intelligence (AI) and machine learning (ML) in document capture software, shift towards intelligent document recognition and data extraction, implementation of advanced analytics for document insights, adoption of blockchain technology for document verification and security, and development of scalable and customizable document capture solutions.
Global Document Capture Software Market Key Driver
The increasing adoption of cloud-based software is poised to drive the growth of the document capture software market. The preference for cloud-based software is rising, with 65% of small and medium-sized enterprises relying more on cloud computing during the epidemic. The adoption of cloud-based software for storing and tracking electronic files is contributing to the growth of document capture software.
Get A Free Sample Of The Global Document Capture Software Market ReportGlobal Document Capture Software Market Segments
The document capture software market covered in this report is segmented –
1)By Solution: Multiple-Channel Capture, Cognitive Capture, Mobile Capture, Other Solutions
2)By Deployment: Cloud, On-Premise, Hybrid
3)By Organization Size: Small And Medium Enterprises, Large Enterprises
4)By Industry: Retail, Banking, Financial Services And Insurance, Telecom And IT, Healthcare, Transportation And Logistics, Energy, Other Industries
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the document capture software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the document capture software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Document Capture Software Industry Players
Adobe Inc.; Canon Inc.; DocStar ECM; Hyland Software Inc.; ABBYY Solutions Ltd; Artsyl Technologies Inc.; KnowledgeLake Inc.; Oracle Corporation; Kofax Inc.; Xerox Corporation; International Business Machines Corporation; Siemens AG; Outback Imaging Pty Ltd; Dell Inc.; OpenText Corporation; Eastman Kodak Company; Ricoh Company Ltd.; SpringCM; Alfresco Software Inc.; AnyDoc Software Inc.; DocuLex Inc.; DocuWare Corporation; Esker Inc.; FileHold Systems Inc.; Global360 Inc.; Intellidact AI; Konica Minolta Business Solutions U. S. A. Inc.; M-Files Corporation; Nuance Communications Inc.; Parascript LLC; ReadSoft Inc.
Get The Full Global Document Capture Software Market ReportDocument Capture Software Market Overview
Document capture software is specialized software for digitalizing the documentation process and reducing the burden of paper documents and storage-related issues. The software combines importing, scanning, and integration capabilities to digitize all the documents in a single location so that they are easily accessible. The document capture software is used to capture incoming documents and store them in a central digital repository.
Document Capture Software Global Market Report 2023 provides data on the global document capture software market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The document capture software market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.