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Cloud-Based Software Accelerates Growth In The Document Capture Software Market: Strategic Insights Driving Document Capture Software Market Momentum in 2025
Document Capture Software
How Large Will the Document Capture Software Market Size By 2025?
In recent times, there has been significant growth in the market size of document capture software. It is projected to rise from $9.48 billion in 2024 to $10.36 billion in 2025, registering a compound annual growth rate (CAGR) of 9.2%. The expansion observed in the historic period can be credited to the escalated demand for effective document administration and organization, the necessity for compliance and regulatory pressure, an increase in digital and paper-based documentation, a focus on decreasing costs and enhancing operational efficiency, as well as the adoption of digital transformation strategies by various business sectors.
How Big Is the Document Capture Software Market Size Expected to Grow by 2029?
Rapid expansion is projected in the document capture software market over the coming years, with its worth estimated to reach $17.85 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 14.6%. This growth in the predicted period can be credited to a surge in the requirement for cloud-based document capture solutions, the proliferation of remote work necessitating digital document management, heightened focus on data security and privacy compliance, harmonization with enterprise resource planning (ERP) and other business mechanisms, and an increased implementation of mobile document capture applications. Key trends for the forecast duration involve the integration of Artificial Intelligence (AI) and machine learning into document capture software, a pivot towards intelligent document recognition and information extraction, the usage of advanced analytics for insights into documents, the application of blockchain technology for document verification and security, and the creation of scalable and customizable document capture solutions.
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Which Key Market Drivers Powering Document Capture Software Market Expansion and Growth?
The rising use of cloud-based software is anticipated to boost the expansion of the document capture software market in the future. Software hosted in the cloud and accessed through a web browser using the internet is classified as cloud-based software. Because it reduces IT and maintenance expenses for businesses, many are opting for it to manage and monitor electronic files and folders, thereby stimulating the uptake of document capture software. For instance, a report from Eurostat, a government agency in Luxembourg, revealed in December 2023 that 42.5% of EU enterprises were harnessing cloud computing services mainly for email, storing files, and office software, marking a 4.2 percentage point surge from 2021. Therefore, the ongoing increase in the use of cloud-based software is driving the growth of the document capture software market.
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Which Fast-Growing Trends Are Poised to Disrupt the Document Capture Software Market?
The rise of technology is a notable trend clearly prevalent in the document capture software market. Companies in this market are continually improving and introducing new advancements to bolster their customer reach. As an illustration, Kodak Alaris, a British firm that specialises in photographic hardware and software, launched Capture Pro, its advanced version of document capture software, in July 2022. In addition to security upgrades, this software also comes with enhanced features and compatibility with third-party apps. What sets it apart is its compliance with PDF/UA (Portable Document Format/Universal Accessibility), ensuring its usability for those relying on assistive technology to access electronic content.
What Are the Emerging Segments in the Document Capture Software Market?
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, HealTH*Care, Transportation And Logistics, Energy, Other Industries
Subsegments:
1) By Multiple-Channel Capture: Email Capture, Web Capture, Scanner Capture
2) By Cognitive Capture: Data Extraction, Document Classification
3) By Mobile Capture: Smartphone Capture, Tablet Capture
4) By Other Solutions: Batch Capture, Real-Time Capture
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Who Are the Global Leaders in the Document Capture Software Market?
Major companies operating in the document capture software market include 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, Outback Imaging Pty Ltd, OpenText Corporation, Eastman Kodak Company, Ricoh Company Ltd., SpringCM, Alfresco Software Inc., AnyDoc Software Inc., DocuLex Inc., DocuWare Corporation, Esker Inc., FileHold Systems Inc., Intellidact AI, Konica Minolta Business Solutions U. S. A. Inc., M-Files Corporation, Nuance Communications Inc., Parascript LLC, ReadSoft Inc.
Which are the Top Profitable Regional Markets for the Document Capture Software Industry?
North America was the largest region in the document capture software market in 2024.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
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