Published Date : Jun 28, 2018
ALBANY, New York, June 28, 2018 - A new market study, titled “Document Capture Software Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026”, has been featured on MarketResearchReport.biz. The report presents an in-depth assessment of the global document capture software market in the upcoming years. It does so via quantitative and qualitative insights, historic growth reports, and verifiable market size projections. The report examines all the prevalent market trends that could influence the growth of the document capture process market over the forecast period.
The document capture software market is predicted to display significant growth during the forecast period between 2018 and 2026. This is mainly because of rising demand for big data analytics in organizations especially the large ones. Big data analytics is a new potential revenue generating source for organizations.
However, increasing use of cloud based storage and processing have led to paramount concern among organizations and users to utilize platform as a service (PaaS) to undertake their document capture and storage operations. PaaS platform being relatively new is subject to numerous account hijacking, insider threats, malware injections, data loss, and shared vulnerabilities.
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The global market for document capture software has been segmented on the basis of deployment, solution, enterprise, end-use industry, and region. By deployment, the market has been segregated into on-premise, cloud, and hybrid. In terms of enterprise, the document capture software market has been segmented into small & medium (SMEs) and large enterprises. By solution, the document capture software market has been divided into multiple-capture, mobile capture, cognitive capture, and others. By end-use industry, the market has been classified into banking, financial services & insurance, retail, telecom & IT, transportation & logistics, healthcare, energy, and others.
Geography-wise, the document capture software market has been classified into North America, Asia Pacific, Europe, South America, and the Middle East & Africa. North America led the overall market in 2017 holding the maximum share. The region is anticipated to hold on to its supremacy through the forecast period. Growth in the number of expansion facilities and logistics network and growing demand for digitalized documentation solutions account for dominant position of North America.
Europe held the second-leading share of the market in 2017. Asia Pacific led the overall market vis-à-vis growth rate in 2017. Going forward, Asia Pacific is facing growth hurdles due to varying regulatory compliances in different countries and limited efficient Internet connectivity infrastructure.
Leading companies operating in the global document capture software market include ABBYY Software, Artsyl Technologies Inc., CAPSYS Technologies LLC, EMC Corp., Hyland Software Inc., Knowledge Lake Inc., Kofax Inc., Notable Solutions Inc., Oracle Corp., Adobe Systems Software Ltd., Canon Inc., DocuLex Inc., Ephesoft Inc., IBM Corporation, Kodak Company, Meniko Nuance Communications, and Xerox Corporation.
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