Intelligent Document Processing Market By Component (Solution, Services), By Organization Size (SMEs, Large Enterprises), By Deployment Model (Cloud, On Premise), By Technology (Natural Language Processing, Optical Character Recognition, Machine Learning, Artificial Intelligence, Others), By End Use Vertical (BFSI, Government, Healthcare, Retail, Manufacturing, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
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
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the intelligent document processing market analysis from 2021 to 2031 to identify the prevailing intelligent document processing market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the intelligent document processing market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global intelligent document processing market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
Solution
Services
By Organization Size
SMEs
Large Enterprises
By Deployment Model
Cloud
On Premise
By Technology
Natural Language Processing
Optical Character Recognition
Machine Learning
Artificial Intelligence
Others
By End Use Vertical
BFSI
Government
Healthcare
Retail
Manufacturing
Others
By Region
North America
U.S.
Canada
Europe
Germany
Italy
France
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
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.
WorkFusion, Inc.
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