Intelligent Document Processing Market Report: Trends, Forecast and Competitive Analysis

Intelligent Document Processing Market Trends and Forecast

The future of the intelligent document processing market looks promising with opportunities in the banking, financial services and insurance (BFSI), government, healthcare & life sciences, retail and e-commerce, manufacturing, and transportation & logistics industries. The global intelligent document processing market is expected to grow with a CAGR of 35% to 37% from 2023 to 2028. The major drivers for this market are increasing need for enterprises to process large volumes of semi-structured and unstructured documents with more accuracy and speed, increasing investments in digitalization, and the adoption of cloud-based document processing solutions.

Intelligent Document Processing Market by Component, Deployment Model, Technology, and End Use Industry

Emerging Trends in the Intelligent Document Processing Market

Emerging trends, which have a direct impact on the dynamics of the industry, include growing demand for automated advanced document processing software, and adoption of new technology.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below. To learn the scope, benefits, companies researched and other details of the global intelligent document processing market report, please download the report brochure.

Intelligent Document Processing Market by Segments

Intelligent Document Processing Market by Segment

The study includes a forecast for the global intelligent document processing market by component, deployment model, technology, end use industry, and region, as follows:

Intelligent Document Processing Market by Component [Value ($B) Shipment Analysis from 2017 to 2028]:

Solutions

Services

Intelligent Document Processing Market by Deployment Model [Value ($B) Shipment Analysis from 2017 to 2028]:

Cloud

On-Premises

Intelligent Document Processing Market by Technology [Value ($B) Shipment Analysis from 2017 to 2028]:

Natural Language Processing (NLP)

Optical Character Recognition (OCR)

Machine Learning (ML)

Artificial Intelligence (AI)

Robotic Process Automation (RPA)

Google Vision

Deep Learning (DL)

Vision API

Intelligent Document Processing Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

BFSI

Government

Healthcare and Life Sciences

Retail and eCommerce

Manufacturing

Transportation & Logistics

Others

Intelligent Document Processing Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

North America

Europe

Asia Pacific

The Rest of the World

List of Intelligent Document Processing Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies intelligent document processing companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the intelligent document processing companies profiled in this report include.

OpenText

IBM

ABBYY Solutions

Appian

Automation Anywhere

UiPath

WorkFusion

Deloitte Touche Tohmatsu

Kofax

Intelligent Document Processing Market Insights

Lucintel forecasts that services will remain the larger segment over the forecast period due to increasing demand for intelligent document processing solutions as a result of the expanding technical advancements.

BFSI is expected to remain the largest segment due as most of the banks are increasingly deploying intelligent document processing solutions to enhance productivity, improve cost savings, and enhance customer experiences.

North America will remain the largest region due to favorable factors such as increased productivity, presence of new technologies, and better protection available to companies regarding their intellectual property.

Features of the Intelligent Document Processing Market

Market Size Estimates: Intelligent Document Processing market size estimation in terms of value ($B)

Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.

Segmentation Analysis: Intelligent document processing market size by various segments, such as by component, deployment model, technology, end use industry, and region.

Regional Analysis: Intelligent document processing market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.

Growth Opportunities: Analysis on growth opportunities in different by component, deployment model, technology, end use industry, and regions for the intelligent document processing market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape for the intelligent document processing market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the intelligent document processing market size?

Answer: The global intelligent document processing market is expected to reach an estimated $xx billion by 2028.

Q2. What is the growth forecast for intelligent document processing market?

Answer: The global intelligent document processing market is expected to grow with a CAGR of 35% to 37% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the intelligent document processing market?

Answer: The major drivers for this market are increasing need for enterprises to process large volumes of semi-structured and unstructured documents with more accuracy and speed, increasing investments in digitalization, and the adoption of cloud-based document processing solutions.

Q4. What are the major segments for intelligent document processing market?

Answer: The future of the intelligent document processing market looks promising with opportunities in the banking, financial services and insurance (BFSI), government, healthcare & life sciences, retail and e-commerce, manufacturing, and transportation & logistics industries.

Q5. What are the emerging trends in intelligent document processing market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, growing demand for automated advanced document processing software, and adoption of new technology.

Q6. Who is the key intelligent document processing companies?

Answer: Some of the key intelligent document processing companies are as follows:

OpenText

IBM

ABBYY Solutions

Appian

Automation Anywhere

UiPath

WorkFusion

Deloitte Touche Tohmatsu

Kofax

Q7. Which intelligent document processing segment will be the largest in future?

Answer: Lucintel forecasts that services will remain the larger segment over the forecast period due to increasing demand for intelligent document processing solutions as a result of the expanding technical advancements.

Q8. In intelligent document processing market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region due to favorable factors such as increased productivity, presence of new technologies, and better protection available to companies regarding their intellectual property.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1. What are some of the most promising, high-growth opportunities for the intelligent document processing market by component (solutions and services), deployment model (cloud and on-premises), technology (natural language processing (NLP), optical character recognition (OCR), machine learning (ML), artificial intelligence (AI), robotic process automation (RPA), google vision, deep learning (DL), and vision API), end use industry (BFSI, government, healthcare & life sciences, retail and ecommerce, manufacturing, transportation and logistics, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?