Industry Background:
Document capture is refer as the systematic collection of data in industries. That means it is the integration of tools which is used to capture, store, preserve and process the business process information. Document capture software take care of the managing, processing, creating, and retention of any content which is being handled by the organisations. Document capture software manages the complex business workflow for reducing the workload. Alos it improves the efficiency related to operational. It provides the integration of structured and unstructured data with the usage of Business Intelligence (BI) applications
This growth is primarily driven by Growing demand from many organisations for big data and analytics and Rising awareness related to the threat associated with the legal liability along with compliance requirements in FMCG, IT and transportation sector.
Globally, a noticeable market trend is evident Rising demand in document capture software in Web APIs
. The Internet Software & Services sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as ABBYY Software, (Russia), Hyland Software Inc., (United States), Canon Inc., (Japan), Capsys Corp., (United States), Adobe Systems, (United States), EMC Corp., (United States), KnowledgeLake Inc., (United States), IBM Corp., (United States), Kofax, (United States), Oracle Corp., (United States), Omtool Ltd., (United States), Perceptive Software, (United States) and Xerox Corp., (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
Blue Prism (AIM: PRSM), the pioneer and market leader in Robotic Process Automation (RPA), and ABBYY, a global leader in content intelligence solutions and services, announced a strategic partnership to integrate ABBYY's FlexiCapture solution with Blue Prism's Digital Workforce – automating the process of turning unstructured content into structured, actionable data for enterprise users
ABBYY a leading provider of content intelligence solutions and services, announced FineReader 14 now has added support for the latest PDF ISO standard and improved functionality to create PDF/UA (Universal Accessibility) documents. Along with improved optical character recognition (OCR) for Japanese and added Hanja symbols for documents in Korean, FineReader 14 is a more powerful PDF productivity tool for global organizations needing to offer digital information easily accessible to the public
Market Drivers
- Growing demand from many organisations for big data and analytics
- Rising awareness related to the threat associated with the legal liability along with compliance requirements in FMCG, IT and transportation sector
Market Trend
- Rising demand in document capture software in Web APIs
- Machine Learning and Big Data Analytics integration in Document Capture Software
- Mobile-based data capture software
Restraints
- Rising use of cloud based storage and processing service has also rise the concerns
Opportunities
Due to the limited capital investment and cost efficiency the product is capturing the market
Challenges
High cost associated with the product and Changing technology for the same product
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Document Capture Software Study Sheds Light on
The Document Capture Software Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Document Capture Software industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Document Capture Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.