Document Capture Software Market 2022 Key Players, End User, Demand and Consumption by 2032

The global document capture software market is estimated to secure US$ 17.1 Billion while recording a CAGR of 8.5% during the forecast period from 2022-2032. The market is valued at US$ 6.9 Billion in 2021 and is expected to garner US$ 7.6 Billion in 2022. Growth can be attributed to the rising penetration of IoT and rising adoption of cloud computing technology. Rising demand for SaaS-based document capture software is expected to fuel the market in the coming time.

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.

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

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.

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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