Global Document Capture Software Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global document capture software market in its upcoming report titled, “Global Document Capture Software Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027”. The global document capture software market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the global document capture software market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global document capture software market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global document capture software market report has been segmented on the basis of deployment type, end-user, and region.
Document capture software is used to convert physical document into digital representation. Major types of document capture software include barcode recognition, patch code recognition, optical character recognition (OCR), optical mark recognition (OMR), and indexing. Document capture software scans documents and creates an image of documents in various formats such as portable document format (PDF), tagged image file format (TIFF), joint photographic expert group (JPEG), bitmap (BMP), etc. as per user requirements.
Rising demand for software as a service (SaaS) based document capture software that facilitates pay-per-use, and has user friendly interface is a key factor driving growth of the global document capture software market. In addition, increasing penetration of Internet of Things (IoT), and growing adoption of cloud based software are other factors expected to boost growth of the global document capture software market over the forecast period.
However, concerns related to data security during data sharing is a major factor restraining growth of the global document capture software market. Additionally, lack of professional workforce, and concerns related to automation are some other factors expected to hamper growth of the global document capture software market over the forecast period.
Increasing demand for document capture software by healthcare industry to manage records, and to reduce paperwork is expected to generate potential growth opportunities for key players.
A major and rising trend in the global document capture software market is increasing adoption of cloud technology in business process as it offers enterprise storage solutions. This is another factor expected to aid in growth of the global document capture software market over the forecast period.
The market in North America is expected to account for highest share in terms of revenue as compared to that of other regions. This can be attributed to development in business process, and growing penetration of internet in countries in the region. The market in Asia Pacific is projected to register highest growth rate over the forecast period, owing to increasing awareness about benefits of document capture software in business process in emerging economies such as China, and India.
Global Document Capture Software Market Segmentation:
Global document capture software market segmentation by deployment type:
Global document capture software market segmentation by end-user:
- Banking, Financial services and Insurance (BFSI)
- IT & telecommunication
Global document capture software market segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- ABBYY Software Ltd.
- Adobe Systems Incorporated
- Seiko Epson Corporation
- Canon Inc.
- Nuance Communications, Inc.
- International Business Machines Corporation
- Oracle Corporation
- Notable Solutions, Inc.
- Lexmark International, Inc.
- Xerox Corporation
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