Enterprise Capture Software Market to Observe Strong Development by 2028

Enterprise capture software

Enterprise capture software accumulates and takes control of a large volume of semi-structured, unstructured and structured data. Using advanced recognition technology and intelligent enterprise capture software enables the transformation of critical business documents into business process-ready digital content. Enterprise capture software is a scalable software solution that facilitates multiple and single entry points for the capture of documents procured by scanners, e-mail, fax and other multi-functional devices.

Enterprise capture software operates through five basic stages. Hard copy documents are scanned, e-mailed or faxed, after which they are transformed into process-ready digital content by enterprise capture software. The automated classification technology integrated into the enterprise capture software performs text and image-based analysis to identify different document types.

Optical character recognition and optical mark recognition enables it to extract the data from captured and classified documents. Via a database or an enterprise application, the enterprise capture software automatically validates the extracted data. Finally, it exports the document and data images and makes them available to other business systems, databases and content repositories.

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Enterprise capture software Market: Drivers & Challenges

The concept of enterprise capture software is gaining popularity among small, medium and large enterprises owing to its ability to facilitate high efficiency. Companies offering integrated intelligent features in enterprise capture software are expected to drive the global enterprise software market. Enterprise capture software eliminates the requirement of paper as it uses data capture to develop digital files. Also, the automated intelligent features boost productivity and enable the end user to cut back on expenditure.

On-paper data represents a large proportion of the day-to-day processes in a business. Enterprise capture software offers the ability to share and manage the large volume of on-paper data internally via an integrated document management system. This feature offered by enterprise capture software helps improve collaborations among employees & departments, and eliminates the threat of data loss. These factors are expected to drive the global enterprise capture software market.

However, the availability of cheap but low-quality enterprise capture software is restraining the growth of the global enterprise capture software market. The programming required to develop a customised enterprise capture software is lengthy and time consuming. This factor adversely affects the supply and demand proportions, which is, in turn, challenging the growth of the global enterprise capture software market.

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Enterprise capture software Market: Segmentation

On the basis of features, the global enterprise capture software market can be segmented into the following:

  • Migration
  • Indexing
  • Quality Assurance
  • Optical Mark Recognition (OMR)
  • Optical Character Recognition (OCR)
  • Separation
  • Patch Code Recognition
  • Bar Code Recognition
  • Other Features

Enterprise capture software Market: Regional Outlook

Among all the regions, North America holds the largest share of the global enterprise capture software market and is expected to maintain a balanced growth rate over the forecast period. The growth of the enterprise capture software market in North America can be attributed to the ever-rising adoption of intelligent commercial and industrial process control equipment. The high presence of data analysis services and solutions providers is driving the enterprise capture software market in the region.

During the forecast period, the market in Europe and Japan is expected to grow at the fastest rate as compared to other regions in the enterprise capture software market. This can be attributed to the rising need for efficiency and productivity in industrial & commercial processes and the reliability factor of enterprise capture software.

Enterprise capture software Market: Key Players

Few of the major players operating in the global enterprise capture software market include ABBYY; Adobe; Canon Inc.; Artsyl Technologies, Inc.; DocuLex Inc.; CAPSYS Technologies, LLC; EMC Corp.; Hyland Software, Inc.; Ephesoft Inc.; KnowledgeLake, Inc.; IBM Corporation; Kofax, Inc.; Eastman Kodak Company; Notable Solutions, Inc.; Meniko; Communications Inc.; Nuance Communications, Inc.; Xerox Corporation and Oracle Corp., among others.

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