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