TECH SUPPLIER Dec 2020 - Market Forecast - Doc # US47037820
Worldwide Capture Applications Forecast Update, 2020–2024
This IDC study provides a sizing of the worldwide capture applications market in 2019 and a five-year forecast through 2024 by geographic region and type of deployment (public cloud versus on-premises/other software). It updates Worldwide Capture Applications Forecast, 2020–2024 (IDC #US45393320, June 2020) and is a companion document to Worldwide Capture Applications Market Shares, 2019: Continued Transition to Cloud Services (IDC #US45393420, June 2020). In the past, capture applications were often packaged with enterprise content management (ECM) solutions. This was reflected in the previous software taxonomy, in which capture applications were defined as a submarket of ECM. In the 2020 software taxonomy, we have defined capture applications as its own functional market, recognizing the segment's importance as a standalone solution fueling process automation and governance applications (see IDC's Worldwide Software Taxonomy, 2020, IDC #US45718419, January 2020). This means that capture applications revenue is no longer included as a component of the enterprise content management market revenue.
"The worldwide capture applications market will grow at a CAGR of 1.2% over the next five years, significantly tempered by the reduction in spending due to COVID-19," said Holly Muscolino, vice president, IDC's Content and Process Strategies and the Future of Work research programs. "Nonetheless, we expect the market to rebound in subsequent years as the requirement for the digitization and automation of content-centric processes is illuminated by the current crisis."
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