Worldwide Document Capture Software Market Grows 7.7% in Latest Report from HSA Inc.
Northport, NY (PRWEB) August 13, 2014 -- Now in its 10th year, HSA Inc. today released its annual Worldwide Market for Document Capture Software report featuring 2013-2018 Capture Software market analysis. In 2013, the worldwide market grew by 7.7% reaching US$2.9bn in end user revenues, paced by 16% growth in the on-demand transaction segment.
“Capture software is being used more often as an Enterprise Service with inputs from multiple input channels – paper, fax, email, and mobile. The systems then classify the inputs, creating metadata and extracting relevant transactional related data”, observed Harvey Spencer, President of HSA. “Cloud services have also started to impact on the capture business with little growth in license revenues being offset by an increase in maintenance and cloud services.”
HSA’s forecast changes in the Batch Capture software segment are materializing. For the last several years there has been stronger than expected growth in basic Batch Image acquisition software used for indexing and backfile conversions. This year the move to Transaction Capture accelerated, resulting in our predicted overall increase in Batch Capture software. But it was attained through a decline in the growth of Batch Image Capture offset by an increase in Batch Transaction software. The On-demand Transaction segment continued to outperform, indicating the value associated with intelligently understanding and extracting the contents of incoming documents at the point of impact.
Overall growth was negatively affected in North America through cutbacks by the Federal Government and regional events in EMEA (Europe, Mid East and Africa) -- a decline in revenue from Eastern European sales was offset by increases in Western Europe, Africa and the Mid East. With the exception of Japan, the Asia Pacific market was soft.
Intelligent Shared Office Scanner/printer Peripherals (MFP’s) increased their share of capturing at the expense of document scanners, and capturing information from emails increased.
“We believe that integration with dynamic Case Management will be a major driver of growth in the future as the need to capture all aspects of a document moves to the front end to provide real time information and analytics,” explained Harvey Spencer.
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 2014 Document Capture Software Market Analytics Subscription Service. This service, which is used by leading vendors and service providers in the ECM 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 Vendor Report; Vertical Market analysis; Regional Reports and quarterly updates.
Founded in 1989 HSA Inc. (http://www.hsassocs.com) is the leading analysis company specializing in software to capture unstructured and semi-structured information into business processes. An annual conference is held every September in Glen Cove, New York (hsassocs.com/capture). Follow us on twitter: @HSAssocs and read our blog: ‘Intelligent Understanding’ at: hsassocs.com/blog/. For more information and a Table of Contents from this report please contact HSA at 1-631-368-8393, or e-mail: inquiries(at)hsassocs(dot)com.
Mike Spang, Harvey Spencer Associates, Inc, http://www.hsassocs.com, +1 585-789-1970, [email protected]
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