Document Capture Software Global Market Report 2022: Increasing Adoption of Cloud-based Software - Market to Grow to $12.34 Billion in 2026 - ResearchAndMarkets.com

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The global document capture software market is expected to grow from $ 7.27 billion in 2021 to $ 8.16 billion in 2022 at a compound annual growth rate (CAGR) of 12.3%. The document capture software market is expected to grow to $ 12.34 billion in 2026 at a CAGR of 10.9%.

The main types of deployment in document capture software are cloud, on-premise, and hybrid. The cloud is used to access the software without the need to establish a server and data center. "Cloud" refers to services provided via the internet. The software is stored on the remote host server and is accessible to the customer via the internet.

This type is beneficial in low IT-cost operations. The different solutions include multiple-channel capture, cognitive capture, mobile capture, and others. The organizations that use document capture software are small and medium enterprises (SMEs) and large enterprises. It is employed in retail, banking, financial services and insurance, telecom and IT, healthcare, transportation and logistics, energy, and other industries.

North America was the largest region in the document capture software market in 2021. The regions covered in the document capture software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increasing adoption of cloud-based software is expected to propel the growth of the document capture software market going forward. Cloud-based software is software that is hosted in the cloud and is accessed via a web browser using the internet.

It lowers IT and maintenance costs for enterprises, which is why many enterprises are going for cloud-based software to store and track electronic files and folders, which in turn is promoting the adoption of document capture software. The increasing adoption of cloud-based software is propelling the document capture software market.

Technological advancements are the key trends gaining popularity in the document capture software market. The players operating in the document capture software sector are constantly innovating and incorporating new technologies to increase their consumer base.

For instance, in July 2022, Kodak Alaris, a UK-based photographic hardware and software manufacturer, released Capture Pro, a next-generation document capture software. This is available with security updates, feature enhancements, and integrations with third-party applications. This features conformance with PDF/UA (Portable Document Format/Universal Accessibility) that ensures accessibility for people using assistive technology to read electronic content.

In June 2021, Kofax, a US-based software company, acquired Psigen Software Inc. for an undisclosed amount. The acquisition would add to Kofax's previously existing document capture software and solutions offerings and further extend the leadership position of the company in the market. Psigen Software, Inc. is a US-based software company that develops document capture software.

The countries covered in the document capture software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Major players in the document capture software market are

• Adobe Inc
• Canon Inc
• DocStar ECM
• Hyland Software Inc
• ABBYY
• Artsyl Technologies Inc.
• KnowedgeLake Inc.
• Oracle Corporation
• Kofax Inc.
• Xerox Corporation
• IBM Corporation
• Siemens AG
• Outback Imaging Pty Ltd
• Dell Inc.

Key Topics Covered:

1. Executive Summary

2. Document Capture Software Market Characteristics

3. Document Capture Software Market Trends And Strategies

4. Document Capture Software Market - Macro Economic Scenario

4.1. COVID-19 Impact On Document Capture Software Market

4.2. Ukraine-Russia War Impact On Document Capture Software Market

4.3. Impact Of High Inflation On Document Capture Software Market

5. Document Capture Software Market Size And Growth

5.1. Global Document Capture Software Historic Market, 2016-2021, $ Billion

5.1.1. Drivers Of The Market

5.1.2. Restraints On The Market

5.2. Global Document Capture Software Forecast Market, 2021-2026F, 2031F, $ Billion

5.2.1. Drivers Of The Market

5.2.2. Restraints On the Market

6. Document Capture Software Market Segmentation

6.1. Global Document Capture Software Market, Segmentation By Solution, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Multiple-Channel Capture
• Cognitive Capture
• Mobile Capture
• Other Solutions

6.2. Global Document Capture Software Market, Segmentation By Deployment, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Cloud
• On-Premise
• Hybrid

6.3. Global Document Capture Software Market, Segmentation By Organization Size, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Small And Medium Enterprises
• Large Enterprises

6.4. Global Document Capture Software Market, Segmentation By Industry, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Retail
• Banking
• Financial Services And Insurance
• Telecom And IT
• Healthcare
• Transportation And Logistics
• Energy
• Others Industries

7. Document Capture Software Market Regional And Country Analysis

7.1. Global Document Capture Software Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

7.2. Global Document Capture Software Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

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View source version on businesswire.com: https://www.businesswire.com/news/home/20221221005234/en/