Harvey Spencer Associates Forecasts Worldwide Capture Software Revenues to Grow by 19.5% in 2019

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Capture 2.0 Cloud Services and Robotic Process Automation (RPA) energizes market

2018 was in inflection point when RPA and cloud services became engines of double digit growth.

Harvey Spencer Associates (HSA) today released its 16th annual survey of the Worldwide Capture Software market, which showed an increase of 15.4% to US$4.7bn in 2018. The increase was driven by the growth in Robotic Process Automation (RPA); a move to Cloud Services and an increasing need to understand and extract data from unstructured inputs at the time of impact. Artificial Intelligence (A)I based classification and extraction has started to make an impact on the market. HSA forecasts a further increase to 19.5% in 2019.

RPA, which has attracted a lot of interest from investors, has been one catalyst for a broader interest in Capture Technologies. Based on a capability to eliminate keystrokes and mouse movement, RPA is evolving into traditional forms processing capture with integration into business processes. “This is the same trajectory as document capture took several years ago” observed Harvey Spencer.

The move towards value from ‘post-process’ to higher value ‘pre-process’ capture has been quite noticeable, with Case Management reported as “the reason to capture” increasing to be worth over US$1½bn. In contrast, revenue from Batch based back office capture, previously the largest area, decreased by -3.8% - the first decline seen by HSA in this segment.

Mobile based capture, driven by wider bandwidth and improved mobile phone cameras increased by more than 40% to account for nearly US$500m of revenue.

“It is now clear that we are seeing an inflection point in the market with increasing numbers of Capture 2.0 solutions. The reduction in batch back office capture combined with the increases in Mobile and Case Management demonstrates the need to understand incoming unstructured information as quickly as possible in order to improve efficiency and for competitive reasons. Records Management as a primary driver for Capture is becoming less important. The need is to truncate the information as fast as possible. The market is broadening as we also saw a substantial increase in revenues from developing countries, which we think is driven by the availability of smart phones and broadband” said Harvey Spencer, President.

HSA estimates the total market opportunity for Capture 2.0 Services at $34bn worldwide. Transformation to containerized Capture 2.0 services will have a far reaching impact – resulting in double digit growth opportunities for vendors.

About Harvey Spencer Associates
Established in 1989 Harvey Spencer Associates (HSA) specializes in technologies used to create, understand and extract meaningful information from unstructured omni-channel inputs. Now in its 16th year, the HSA World Wide Capture Software Market Report is the only study providing complete coverage of the Worldwide Capture Software market. It is available to HSA clients via subscription and relied on by leading vendors and service providers in the Business Application and Document Capture software and hardware market. The Worldwide Market for Document Capture Software, is complemented by a Vendor Landscape Report; Vertical Market analyses; special reports; quarterly updates and access to HSA industry analysts.

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