The growing use of big data analytics, surging reduction of document management costs, and rising compliance with regulatory requirements and industry protocols are some of the major factors propelling the market growth. However, factors such as risks of data theft and cyber attacks, high possibilities of data loss, and implementation of data encryption are some factors anticipated to hinder the market growth during the forecast period.
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Document Capture Software Market: End-user
The report segments the market by end-user into segments including BFSI, healthcare, government, legal, and others. The document capture software market share growth by the BFSI segment will be significant during the forecast period. This software help companies in the BFSI sector to improve their operational efficiency and increase the satisfaction of clients by implementing accurate processing of financial documents.
Mortgage applications, loan and lease applications, check capture (counter and mobile), wholesale and retail remittance, and new account opening and claim processing are some of the prominent areas of applications in BFSI sector that deploy the document capture software, in turn, driving the market growth.
Document Capture Software Market: Geographic Landscape
In terms of Geography, the market is segmented by North America, Europe, APAC, South America, and MEA. North America is anticipated to hold the largest document capture software market share during the forecast period due to the integrat ..
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