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Article: Worldwide Document Capture Software Market to Exceed $1 bn for the First Time in 2005 According to Latest Research from Harvey Spencer Associates.
- Article from:
- Business Wire
- Article date:
- April 4, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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EAST NORTHPORT, N.Y. -- Rapid Convergence Will Force Industry Consolidation as Industry Leaders Jockey for Position and Growth Shifts to New Market Segments
Spending on document capture software by the public sector and corporations grew by 14% in 2004 to $901M, and can be expected to surpass the $1B mark in 2005. Driven by the requirement to speed transaction processing while reducing data entry costs, substantial annual growth is expected to persist through 2008.
However, megatrends such as globalization of geographic markets, convergence between production document scanners and office copier hardware, and increasing adoption of electronic processes ...