|By Business Wire||
|January 22, 2014 08:55 AM EST||
Research and Markets (http://www.researchandmarkets.com/research/ks6696/global_document) has announced the addition of the "Global Document Capture Software Market 2014-2018" report to their offering.
The analysts forecast the Global Document Capture Software market to grow at a CAGR of 9.65 percent over the period 2013-2018. One of the key factors contributing to this market growth is the need for regulatory compliance. The Global Document Capture Software market has also been witnessing the emergence of SaaS-based document capture software. However, the issues related to scalability, automation, and professional expertise could pose a challenge to the growth of this market.
The key vendors dominating this market space are EMC Corp., Kofax plc, and Nuance Communications Inc.
Other vendors mentioned in the report are ABBYY Software, Adobe Systems, Canon Inc., Capsys Corp., DocuLex Inc., Hyland Software Inc., IBM Corp., Kodak Company, KnowledgeLake Inc., Notable Solutions Inc., Omtool Ltd., Oracle Corp., Outback Imaging Pty Itd, Perceptive Software, ReadSoft Inc. and Xerox Corp.
Commenting on the report, an analyst from the team said: The emergence of SaaS-based document capture software solutions has enabled organizations to increase their efficiency and reduce the cost of deploying valuable IT infrastructure. However, many organizations are still analyzing the feasibility and relevance of such cloud computing solutions in their IT operations. SaaS-based deployment offers a pay-per-use model, which provides cost-effective accessibility and a paradigm where document capture solutions can be accessed at any time and in any place by multiple users. Although many enterprises have an increased understanding of the benefits of SaaS-based document capture software solutions, a number of concerns and risks, particularly relating to data sharing and security, are affecting the steady adoption of such solutions. Hence, the Global Document Capture Software market is witnessing a trend where many vendors have begun to offer their solutions through the SaaS-based model to expand their services and enter new markets. In addition, web-based document management solutions are becoming increasingly popular since they enable businesses to securely store, access, and maintain digital records more easily. This in turn is leading to the increased adoption of SaaS-based document capture software during the forecast period.
For more information visit http://www.researchandmarkets.com/research/ks6696/global_document
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