Worldwide Capture Software market grows 11.3%

Editorial Type: Research Date: 11-2018 Views: 775 Tags: Document, Analysis, RPA, Cloud, BPM, HSA PDF Version:
Cloud services and Robotic Process Automation enabled by Capture 2.0 are 'energising the market' according to HSA research

HSA, Inc., the leading analyst firm covering the Capture Software market, reported that analysis of its most recent annual Worldwide Market Survey showed that the market for Capture Software is experiencing double-digit growth.

Capture 2.0 Intelligent Capture services, Cloud based systems, along with a strong revenue base from On-Demand and Batch Capture systems are positively impacting revenues. The worldwide market has grown by 11.3% reaching US$4.1bn in end-user revenues. Robotic Process Automation (RPA) Capture Systems are also contributing to strong growth with an increase of more than 110% year over year. Cloud services are predicted to continue to grow by 40% CAGR through 2022 to over $1.4bn.

RPA is generating high interest and expectations. Organisations are finding that a lot of effort is being spent on keystrokes devoted on transferring data from one system to another. RPA is being implemented to solve simple data look up and transfer tasks. But "Intelligent Capture 2.0 is critical to take RPA to the next level" says Mike Spang, VP Research for Harvey Spencer Associates.

Intelligent Capture Technologies are affecting near real time, customer facing business applications. Case Management applications are in demand in top vertical markets including: Retail Banking, Insurance, and Healthcare. They have applicability in loan processing, supply chain tracking and Human Resources on-boarding to name a few.

Cloud Services enable automation of business processes in enterprise size business, but HSA is seeing these capabilities now extended to the mid-market. These include AI technologies that provide the ability to classify, apply business rules and extract needed data from a variety of media types not limited to traditional documents. Voice, object and image understanding are included in what HSA defines as Capture 2.0. Cloud Service platforms will be the new standard for development and delivery of Capture applications where Capture APIs will be integrated quickly and efficiently with other applications all of which is designed to automate a particular business process.

The dynamics of the Capture Software market also are changing, providing new opportunity. The Capture Software vendors that are the traditional market leaders are being challenged by ECM players that have invested in and integrated Capture into their solutions portfolios. There are also a number of up and coming vendors that are challenging the "top 5" with a portfolio of Capture 2.0 Service.

HSA estimates the worth of the total available market for Capture 2.0 Services at $30bn worldwide. Transformation to Capture 2.0 will have far reaching effect resulting in opportunities for software vendors, integrators, scanner and MFP hardware vendors, as well as business process solution providers.
More info: www.hsassocs.com

"The dynamics of the Capture Software market also are changing providing new opportunity. The Capture Software vendors that are the traditional market leaders are being challenged by ECM players that have invested in and integrated Capture into their solutions portfolios. There are also a number of up and coming vendors that are challenging the "top 5" with a portfolio of Capture 2.0 Service."