The global market for intelligent enterprise data capture software market is poised for significant expansion, projecting a robust Compound Annual Growth Rate (CAGR) of 12.70% over the forecast period. According to industry analysts, the market, valued at USD 11,281.20 million in 2024, is anticipated to reach an impressive USD 37,189.90 million by 2034.
This remarkable growth trajectory underscores the increasing adoption of advanced data capture technologies across various industries. Intelligent enterprise data capture software offers organizations enhanced efficiency, accuracy, and scalability in managing and processing data, driving its demand worldwide.
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Growth of Enterprise Application Realm Favoring Adoption
Digitisation of industries across the globe is increasing. Companies are moving from traditional manufacturing to digital manufacturing and adopting advanced technologies. Increase in investments in industrial IoT technology will bring about a significant change in the near future. Intelligent enterprise data capture software plays a crucial role in industrial automation. Manufacturing, construction, and other industries have witnessed the rapid adoption of advanced technologies. These factors are positively impacting the intelligent enterprise data capture software market. Due to the growth of industrialisation, the overall enterprise application market has witnessed significant growth in the past couple of years. This is expected to have a cascading effect on the intelligent enterprise data capture software market.
Intelligent enterprise data capture software uses different types of technologies such as optical character recognition, intelligent document recognition, and handwriting recognition. Optical character recognition technology is used to convert different types of machine-printed documents, such as image files, PDF files, or scanned paper documents, into searchable and editable data. Intelligent document recognition technology helps recognise and capture handwritten printed characters from image files. Handwriting recognition is the ability of a mobile device or a computer to take as input handwriting from sources such as printed physical documents, pictures and other devices, or to use handwriting as a direct input to a touchscreen and then interpret this as text.
SMEs Emerging as Lucrative Targets for Investors
Advancements in the retail industry have revolutionised the adoption of intelligent enterprise data capture software components in various developing as well as developed regions. To meet the growing demand for error reduction and improved accuracy in the East Asia and South Asia regions, several intelligent enterprise data capture software platform providers have started investing in these regions. The established as well as growing intelligent enterprise data capture software platform providers should focus on expanding their intelligent enterprise data capture software businesses across untapped developing country markets to enhance their global intelligent enterprise data capture software market share.
In addition, it has been observed that growing companies from various sectors are investing significantly on next generation data management solutions and business analytics platforms. Across the world, a growing number of small and medium enterprises are becoming prominent targets for the providers of intelligent enterprise data capture software. Hence, East Asian and South Asian markets are creating new business models for intelligent enterprise data capture software platform providers.
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Competition Insights
Key players are focusing on increasing their market shares in the intelligent enterprise data capture software market by entering into joint ventures and strategic partnerships with regional players. In addition, major intelligent enterprise data capture software market players are also expanding their global presence via strategic mergers and acquisitions. Some of the key players in the global intelligent enterprise data capture software market research report include Microsoft Corporation, SAP SE, IBM Corporation, OpenText Corporation, Oracle Corporation, Hyland Software, Inc., Box, Newgen Software Technologies Limited, M-Files, Oracle Corporation, and Nuxeo.
Key Segments of Intelligent Enterprise Data Capture Software Industry Survey
By Product Type:
- Intelligent Enterprise Data Capture Software
- Handwriting Recognition
- Optical Character Recognition
- Intelligent Document Recognition
- Intelligent Enterprise Data Capture Services
- Consulting
- Training
- Implementation & Support
By Deployment
- On-premise Intelligent Enterprise Data Capture Software
- SaaS & PaaS Intelligent Enterprise Data Capture Software
- Hybrid Intelligent Enterprise Data Capture Software
By Line of Business:
- Intelligent Enterprise Data Capture Software for Finance
- Intelligent Enterprise Data Capture Software for Sales
- Intelligent Enterprise Data Capture Software for Human Resource
- Intelligent Enterprise Data Capture Software for Marketing
- Intelligent Enterprise Data Capture Software for Legal Sector
By Industry:
- BFSI
- Healthcare
- Media & Entertainment
- Education
- Professional Services
- Construction
- Retail
- Government
- Manufacturing
- Others
By Region:
- North America Intelligent Enterprise Data Capture Software Market
- Latin America Intelligent Enterprise Data Capture Software Market
- Europe Intelligent Enterprise Data Capture Software Market
- East Asia Intelligent Enterprise Data Capture Software Market
- South Asia & Pacific Intelligent Enterprise Data Capture Software Market
- Middle East & Africa (MEA) Intelligent Enterprise Data Capture Software Market
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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