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Document Capture Software Market is Anticipated to Secure US$ 17.1 Billion by 2032 | Future Market Insights, Inc.
Document Capture Software Market
SaaS-based services offer a model which facilitates pay-per-use, which boosts the demand for the same, thereby, benefitting the industry in the forecast period. In addition, growing awareness about risks associated with legal liability with compliance needed in IT, transportation sector, and FMCG sector is another factor propelling the industry growth. Document capture solutions are gaining significant traction to cater to the routine document imaging needs for sectors like healthcare, finance, education, insurance, and transportation.
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On the contrary, growing issues associated with professional expertise, scalability, and automation are likely to hamper the market growth. However, increasing adoption of cloud computing technology in companies is anticipated to counter impeding factors and boost the market significantly.
Key Takeaways from the Market Study
The global document capture software market to value US$ 6.9 Billion in 2021
The global document capture software market to expand at 8.5% CAGR from 2022-2032
The hybrid segment to record 8.8% CAGR during the forecast period
The Large Enterprises segment to exhibit 8.3% growth rate during the assessment period
The U.S market size to reach USD 5.3 Billion by 2032, growing at an 8.4% CAGR
Chinese market to value USD 1.1 Billion during the forecast period
Market in India to secure US$ 1.4 Billion from 2022-2032
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Competition Analysis
Key players in the global document capture software market include Adobe Systems Software Ltd., ABBYY Software, Artsyl Technologies Inc, Canon Inc., and IBM Corporation, among others. Players in the market take various initiatives to expand their reach in the global market. Some of the methods comprise partnership, mergers and acquisitions, and others. Recent key developments among players are:
In December 2019, Hyland Software, Inc. announced a partnership with Vertec Scientific to create a robust set of solutions that offers operational efficiencies for clinicians.
In September 2019, Ephesoft, Inc. announced a collaboration with Automation Anyware to combine document capture and RPA technologies. The combination can resolve amorphous data and ECM's (Enterprise Content Managers) complicated problems.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global document capture software market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
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Key Segments Covered In The Document Capture Software Market Report
Document Capture Software by Deployment:
Cloud-based Document Capture Software Deployment
On-Premise Document Capture Software Deployment
Hybrid Document Capture Software Deployment
Document Capture Software by Organization Size:
Document Capture Software for Small and Medium Enterprises
Document Capture Software for Large Enterprises
Document Capture Software by Solution:
Multiple-Channel Document Capture Software
Cognitive Document Capture Software
Mobile Document Capture Software
Other Document Capture Software Solutions
Document Capture Software by Industry:
Document Capture Software for Retail
Document Capture Software for Banking
Document Capture Software for Financial Services & Insurance
Document Capture Software for Telecom & IT
Document Capture Software for Healthcare
Document Capture Software for Transportation & Logistics
Document Capture Software for Energy
Document Capture Software for Other Industries
Document Capture Software by Region:
North America Document Capture Software Market
Europe Document Capture Software Market
Asia-Pacific Document Capture Software Market
Middle East & Africa Document Capture Software Market
South America Document Capture Software Market
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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