CHICAGO, IL (September 7, 2021)—In 2020, the Capture Software market grew 5% to reach $5.1 billion in worldwide revenue. This was despite a WW economic slowdown caused by the COVID-19 pandemic. Capture proved an integral piece of Digital Transformation initiatives which were pushed forward to facilitate an increase in remote interactions. Market demand was also driven by the continued growth of the Robotic Process Automation (RPA) space, where vendors accelerated their expansion into the input of unstructured information.
These findings are discussed in detail in Infosource’s 2020-2021 State of the Global Information Capture Market Executive Summary, which was published this month. Since its 2019 acquisition of HSA, Infosource has carried on the annual reporting done by the analyst firm on the Capture software market. Infosource defines Capture as software used to ingest primarily unstructured information and make it usable in business processes.
In recent years, as Capture software has moved further into the front office and closer to the point-of-entry for business input, Case Management has taken over as the primary use case. This includes applications like onboarding, claims processing, and contract management. Increased intelligence being infused into Capture through AI and Machine Learning technology has improved its automation capabilities and enabled Capture to address more diverse input sets.
The Capture market is at an inflection point as the technology is increasingly being made available through cloud services. This has opened the door for new entrants who are looking to displace established leaders with mature platforms.