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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 Market
How Large Will the Document Capture Software Market Size By 2025?
The market size of software used for document capture has experienced significant growth over the years. We predict it will increase from $9.48 billion in 2024 to $10.29 billion in 2025, maintaining a compound annual growth rate (CAGR) of 8.5%. The expansion in the previous period is related to the heightened demand for effective document management and organization, regulatory constraints and compliance requirements, increase in digital and paper-based documents, emphasis on cost efficiency and operational effectiveness, and businesses implementing digital transformation strategies.
How Big Is the Document Capture Software Market Size Expected to Grow by 2029?
The expansion of the document capture software market is predicted to be quick and substantial in the upcoming years, projected to reach $17.53 billion in 2029 at a 14.3% Compound Annual Growth Rate (CAGR). This imminent growth for the forecast period can be linked to an increased demand for cloud-based document capture methods, the proliferation of remote work environments requiring digital document management, a focus on data security and privacy compliance, and integration with Enterprise Resource Planning (ERP) and other business operations. There is also a rising trend for mobile document capture apps. Notable future trends include the inclusion of artificial intelligence (AI) and machine learning (ML) into document capture software, a move towards intelligent document recognition and data extraction, the introduction of advanced analytics for document insights, the use of blockchain technology for document verification and safety, and the creation of scalable and adjustable document capture solutions.
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Which Key Market Drivers Powering Document Capture Software Market Expansion and Growth?
The growth of the document capture software market is anticipated to be driven by the growing use of cloud-based systems. Cloud-based software, which is stored in the cloud and only accessible through an internet-connected web browser, provides a low cost and easy maintenance option for businesses. As a result, many firms opt for this software to store and monitor digital files and folders, thereby fostering the uptake of document capture software. For instance, according to a December 2023 report by Eurostat, a Luxembourg-based government body, 42.5% of enterprises in the EU were leveraging cloud computing services in 2023, primarily for emails, file storage, and office software. This marked a 4.2 percentage point growth from 2021. Thus, the expanding use of cloud-based software is spurring 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 rising trend in the document capture software market is driven by technological innovations. The industry participants are consistently inventing and embracing fresh techniques to expand their customer reach. An example of this is when Kodak Alaris, a photographic hardware and software firm from the UK, launched Capture Pro, a cutting-edge document capture software, in July 2022. This software comes with various security updates, improved features, and compatibility with third-party applications. It also aligns with PDF/UA (Portable Document Format/Universal Accessibility), ensuring easy access for individuals using supportive technology to access electronic content.
What Are the Emerging Segments in the Document Capture Software Market?
The document capture softwaremarket 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, Healthcare, 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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