Cloud enabled Capture 2.0 is changing industry fundamentals
Northport, NY – August 11, 2016. HSA, Inc., the leading analyst firm covering the Capture Software market, today released its annual Worldwide Market for Document Capture Software report featuring 2015-2020 Capture Software market analysis. In 2015, the worldwide market grew by 5.1% reaching US$3.2bn in end-user revenues, paced by 11% growth in the on-demand transaction segment.
According to Harvey Spencer, President of HSA, “There is a fundamental shift in how Capture Software is being deployed and integrated into transactional business processes taking place. This shift extends benefits far beyond the simple digitization of paper documents. Capture is being implemented as an application that can recognize, classify, understand, extract, and route information for input into the appropriate business process. Capture is becoming “medium agnostic” as it can be applied to both electronically born data or information found on unstructured paper documents.”
HSA is modeling not only the “document-centric” Capture market but is providing analysis on the capture and understanding of input sources from voice, video, still images and data streams. “There is a new approach to Capture that is being enabled through Cloud computing platforms. Capture APIs can be integrated quickly and efficiently with other applications that are serving a particular business process. In the new “API economy” there is a fundamental shift in the way that Capture applications will be developed and delivered. Capture vendors need to take notice, as we are moving into a Capture 2.0 world”, Harvey Spencer explained.
Capture 2.0, with cognitive computing capabilities is impacting business process solution providers, scanner and MFP hardware vendors, as well as software vendors that support this market. Through new Cloud architectures, the benefits of Capture will become more available to mid-size enterprises and will enable automation of existing processes in Enterprise businesses. Recurring revenue models are developing for these Capture services which initially will keep revenue growth low but provide a healthy, stable long term return.
With crucial focus on Customer Experience, Case Management applications will be employed to improve process efficiency, improve visibility through analytical tools and improve the customers’ experience. These Case Management applications reside within a variety of vertical markets including: Retail banking, Insurance, Healthcare and have applicability in accounting, legal, supply chain and Human Resources to name a few.
The World Wide market study is the only study available covering this complete market. It is available to HSA clients who have subscribed to the 2016 Document Capture Software Market Analytics Subscription Service. This service, which is used by leading vendors and service providers in the Business Application and Document Capture software and hardware market, offers year round expert analysis of, and commentary on, industry trends and events. The Worldwide Market for Document Capture Software, is complemented by a Major Vendor Report, Vertical Market analysis, special reports, quarterly updates, as well as, access to HSA industry analysts.
For more information and a Table of Contents from this report please contact HSA at 1-631-368-8393, or e-mail: [email protected]