Document Capture Software Market Industry Analysis, Size, Share, Trends, Demand, Growth, Opportunities and Forecast 2029
The impact of the COVID-19 pandemic on the globe is devastating. There is a lack of sufficient medical aid to suffice the increasing patient pool, thereby putting the healthcare sector in a vulnerable position. The imposition of the lockdown period and social distancing regulations by the government has impacted most of the businesses. Some of them are barely able to manage meager incomes by operating from homes. At this time, the software-as-a-service market has gained pace for safe and protected operations.
Detailed analytical reports on various markets impacted by the COVID-19 pandemic. These reports provide an overview of the current scenario and how financiers and investors benefit from them.
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What is the Scope of the Report?
The Document Image Capture Software Market report is based on a qualitative and quantitative analysis of the market and emphasizes mainly drivers, restraints, challenges, and upcoming opportunities. It also discusses the key industry trends, current developments, and other insights into the market. The report also highlights the list of players operating in the market and their attributed factors. The report is available for sale on the company website.
Drivers & Restraints
Adoption of Concepts Integrated with Artificial Intelligence to Boost Growth
Several business sectors today have adopted software-as-a-service for operating and maintaining business documents as they are less tedious and reduce the chances of manual errors or loss of data. Sectors such as financial services, healthcare, and business analytics opt for technology-oriented industrial developments and digital solutions, thereby, boosting the global document capture software market growth. In addition to this, the increasing trend of the mobile workforce and the additional benefits offered by document handling software will also aid in the expansion of the Document Capture Software Market.
Detailed Segmentation of Documents Capture Software Market:
The global market for documents capture software is categorized on the basis of deployment, solution, application area, and geography. Based on deployment, the market is bifurcated into on-premise and cloud. By solution, the market is grouped into mobile capture, cognitive capture, and multiple-channel capture. In terms of application area, the market is classified into government, telecom, IT, healthcare, BFSI, banking, retail, and others.
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Players Engaging in Mergers and Acquisition Strategies to Gain Competitive Edge
The market for document capture software is highly competitive owing to the presence of major players such as IBM Corporation, Dell Technologies, and others. A few companies are engaging in joint ventures, partnerships, mergers and acquisitions, and others to gain a significant position in the market competition. The others are focusing on launching innovative software tools with new features to hold the leading position in the market.
December 2019 - Vertex Scientific and Hyland Software Inc. engaged in a partnership to create a robust and complete set of solutions for clinicians.
September 2019 - Automation Anyware and Ephesoft Inc., entered into a collaboration for combining robotic process automation (RPA) and document capture technologies. This combination can unlock amorphous data and can solve the most complex content problems.
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