Cloud and Cognition Services enabled by Capture 2.0 Invigorates Market
Northport, NY – August 31, 2017. Contrary to expectations, revenues from Capture Software grew by double digits according to HSA, Inc., the leading analyst firm covering the Capture Software market in its annual Worldwide Market for Capture Software report.
Featuring 2016-2021 Capture Software market analysis. Cloud based systems; integration with Transactional systems; and cognition services are impacting revenues. Cloud services are expected to grow by 46% CAGR through 2021 to over $1bn. In 2016, the worldwide market grew by 10.4% reaching US$3.6bn in end-user revenues, paced by sustained 17% growth in the on-demand transaction segment and more than double the revenue attributed to Cloud Capture Services.
Capture advanced technologies are gaining traction, especially in near real time, customer facing Case Management capture applications which exceeded Accounting capture for the first time. 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.
New technologies are being assembled utilizing Cloud Services that enable automation of business processes. These include technologies that enable the ability to classify, apply business rules and extract needed data from a variety of media types not limited to 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.
There has been major consolidation in the Capture market. There is increasing interest in Capture on the part of major ECM players in Capture solutions. These solutions are increasingly being integrated with ECM and business applications to provide for digitalization capabilities.
Capture 2.0 services, which HSA estimates, worth $30bn will have far reaching impact on software vendors, integrators, scanner and MFP hardware vendors, as well as business process solution providers. Cloud service solution offerings are providing access to technology to mid-size organizations that was once only affordable for the Enterprise. These cloud services will also enable the rapid assembly of customized solution according to specific Enterprise business requirements. “As Capture 2.0 incorporates cognitive computing capabilities it becomes a critical element of Artificial Intelligence. Capture Services are also a foundation for future advances in Robotic Process Automation (RPA)”, says Mike Spang, VP Research for Harvey Spencer Associates.
Now in its 15th year, the HSA World Wide Capture Software market study is the only study providing complete coverage of the Capture Software market. It is available to HSA clients who have subscribed to the 2017 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.
HSA will be hosting its annual capture conference Capture 2017, in GlenCove, NY October 4th & 5th. Details can be found at https://www.hsassocs.com/capture/
Media contact: Mike Spang firstname.lastname@example.org 1+ 585-233-8364 www.hsassocs.com
For more information on this report and a Table of Contents from this report please contact HSA at 1-631-368-8393, or e-mail: email@example.com