PUBLISHER: Allied Market Research | PRODUCT CODE: 1193390
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193390
The intelligent document processing market was valued at $1,087.4 million in 2021, and is projected to reach $7,427.48 million by 2031, registering a CAGR of 21.7% from 2022 to 2031. The intelligent document processing process transforms unstructured data. Data that is unstructured or semi-structured may be transformed into information that is organized and useable, enabling the complete automation of business operations that revolve around documents.
The intelligent document processing market share is predicted to expand significantly during the forecast period due to increasing requirements for improved customer satisfaction. Furthermore, the increase in the usage of digitalization and artificial intelligence (AI) fuels the expansion of the market. However, government initiatives associated with compliance requirements are the key factor constraining market expansion. On the contrary, increased market penetration across different end-use verticals is expected to propel intelligent document processing market growth.
The global intelligent document processing market research is segmented into components, organization size, deployment, technology, end-use vertical, and regions. On the basis of components, the market is bifurcated into solutions and services. By organization size, it is divided into large enterprises and small & medium-sized enterprises (SMEs). Based on the deployment the market is segmented into cloud and on-premise. On the basis of technology, the market is segmented into natural language processing (NLP), optical character recognition (OCR), machine learning (ML), artificial intelligence (AI), and others. By end-use vertical, the market is categorized into BFSI, government, healthcare, retail, manufacturing, and others.
Region-wise, the Intelligent document processing market trends are analyzed across North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Netherlands, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America, specifically the U.S., remains a significant participant in the global Intelligent document processing industry. Major organizations and government institutions in the country have been actively using intelligent document-processing
The intelligent document processing market is fragmented in nature with many players such ABBYY Solutions Ltd., Datamatics Technologies Ltd., Deloitte Touche Tohmatsu Limited, HCL Technologies Limited, Hyland Software, Inc., Infrrd Inc., International Business Machines Corporation, Kodak Alaris (Eastman Kodak Company), Kofax Inc. and WorkFusion, Inc.
Key Benefits For Stakeholders
By Component
By Organization Size
By Deployment Model
By Technology
By End Use Vertical
By Region