Dublin, Sept. 19, 2023 (GLOBE NEWSWIRE) -- The "Global Document Capture Software Market by Solution (Cognitive Capture, Mobile Capture, Multiple-Channel Capture), Deployment (On-Cloud, On-Premise), Industry - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global document capture software market is on an upward trajectory, with an estimated value of USD 2.63 billion in 2023, marking a significant increase from USD 2.38 billion in 2022.
This robust growth is projected to continue at a Compound Annual Growth Rate (CAGR) of 10.88% over the forecast period, ultimately reaching a market value of USD 5.44 billion by 2030.
Market Segmentation & Coverage:
This comprehensive report categorizes the Global Document Capture Software Market to provide valuable insights into revenue forecasts and trends across various sub-markets:
- Solution Segmentation: The market is studied across three main solution categories: Cognitive Capture, Mobile Capture, and Multiple-Channel Capture. Notably, Cognitive Capture is poised to capture a significant market share during the forecast period.
- Deployment Segmentation: The document capture software market offers two primary deployment options: On-Cloud and On-Premise. The On-Premise deployment is expected to maintain a substantial market share during the forecast period.
- Industry Segmentation: Document capture software finds application in various sectors, including Banking, Energy, Financial Services & Insurance, Healthcare, Retail, Telecom & IT, and Transportation & Logistics. The Financial Services & Insurance sector is anticipated to dominate the market share during the forecast period.
- Regional Segmentation: Geographically, the market spans the Americas, Asia-Pacific, and Europe, Middle East & Africa, with detailed insights into subregions such as the United States, China, India, and many more. The Americas led the market with a commanding 38.74% market share in 2022, followed closely by Europe, Middle East & Africa.
Market Dynamics:
Drivers: The report identifies several drivers propelling the document capture software market's growth, including the increasing need for document management across corporate sectors, rising document collection volumes in various end-user industries, and the growing adoption of document capture software by SMEs.
Restraints: High software costs pose a challenge to market growth.
Opportunities: Opportunities abound in the form of rising demand for SaaS-based document capture software solutions, which promise cost reduction and efficiency improvements. Additionally, the integration of document capture software with big data analytics is set to drive market growth.
Challenges: The report highlights challenges related to data sharing and security.
Insights and Key Information:
The report offers a wealth of insights and answers pivotal questions for market stakeholders:
- Market Penetration: Comprehensive information on the market provided by key players.
- Market Development: In-depth analysis of emerging markets and penetration into mature market segments.
- Market Diversification: Detailed information about new product launches, untapped geographies, recent developments, and investments.
- Market Trends: A comprehensive understanding of the cumulative impact of COVID-19, the Russia-Ukraine Conflict, and high inflation.
- Competitive Assessment & Intelligence: Exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of leading players.
- Product Development & Innovation: Intelligent insights on future technologies, R&D activities, and breakthrough product developments.
Key Questions Addressed:
- What is the market size and forecast of the Global Document Capture Software Market?
- How do inhibiting factors and the impact of COVID-19 shape the Global Document Capture Software Market during the forecast period?
- Which products/segments/applications/areas should investors focus on in the Global Document Capture Software Market over the forecast period?
- What is the competitive strategic window for opportunities in the Global Document Capture Software Market?
- What are the technology trends and regulatory frameworks in the Global Document Capture Software Market?
- What is the market share of the leading vendors in the Global Document Capture Software Market?
- Which modes and strategic moves are considered suitable for entering the Global Document Capture Software Market?
Key Attributes of the Report:
- No. of Pages: 198
- Forecast Period: 2023 - 2030
- Estimated Market Value (USD) in 2023: $2.63 Billion
- Forecasted Market Value (USD) by 2030: $5.44 Billion
- Compound Annual Growth Rate: 10.88%
- Regions Covered: Global
Companies Mentioned
- ABBYY
- Adobe
- Artsyl Technologies, Inc.
- Canon Inc.
- CAPSYS Technologies, Inc.
- Dell, Inc.
- Ephesoft Inc.
- Epicor Software Corporation
- Epson America, Inc.
- Hyland Software, Inc.
- International Business Machines Corporation
- KnowledgeLake, Inc.
- Kofax Inc.
- Oracle Corporation
- Rossum Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/e5yni1
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
