Intelligent Document Processing Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Intelligent Document Processing Market
The intelligent document processing market size was valued at USD 1.75 billion in 2023, and the market is now projected to grow from USD 2.30 billion in 2024 to USD 19.32 billion by 2032, exhibiting a CAGR of 30.5% during the forecast period of 2024-2032.
The COVID-19 pandemic drastically expanded virtual transformation across industries due to social distancing and stringent government measures. Previously hindered with the aid of complexity and fee, digital transformation has become urgent. According to the IMF, digitalization advanced by way of a mean of 6 percentage factors in superior economies.
As organizations develop, handling and organizing growing volumes of files is critical to save time, boom accuracy, and decrease fees. Manual data entry errors value over USD 600 billion yearly, prompting groups to undertake Intelligent Document Processing (IDP) for particular facts extraction. Leveraging device gaining knowledge of, IDP reduces manual access reliance, and the upward push of cloud computing enhances file accessibility and control.
Generative AI has converted sensible file processing by way of the usage of advanced neural networks to automate statistics extraction and recognize complicated file systems. Utilizing strategies such as natural language processing (NLP) and laptop imaginative and prescient, generative fashions appropriately interpret unstructured statistics, which include images and text. This ends in more green and reliable report evaluation, improving basic facts processing abilities.
Comprehensive Analysis of Intelligent Document Processing Market
The intelligent document processing market growth is rising at an exponential rate due to its market segmentation. This marketplace enlargement successfully affords an in-depth local exam thinking about the dominant deliver and demand forces that effect the enterprise. These segmentations are methodically segregated by function analysis, by deployment model analysis, by enterprise type analysis and by industry analysis. By function analysis include, finance & accounting, human resources, supply chain & procurement, and others. By deployment model analysis include, on-premises and cloud. By enterprise type analysis include small and medium-sized enterprises and large enterprises. By industry analysis include, BFSI, healthcare & life sciences, retail & e-commerce, manufacturing, government, IT & telecom, and others (construction, travel & transportation, and energy & power).
The North America region lead the intelligent document processing market share by benefitting a market size of USD 0.78 billion in 2023 due to the presence of well-hooked up players, extended automation across diverse industries, and considerable technological improvements in the place.
The pinnacle players inside the market play a critical function in the enterprise assuring market growth and placing marketplace requirements. These players include, Key players in the Intelligent Document Processing (IDP) market include ABBYY, Rossum, AntWorks, Hyperscience, Celaton Limited, Infrrd Inc., UiPath, Automation Anywhere Inc., Hyland Software Inc., and Kofax Inc. These market players provide a level-playing competitive landscape.
In February 2024, AND Global's Mindox is a clever report processing software program tailored for monetary institutions, leveraging NLP (Natural Language Processing) and OCR (Optical Character Recognition) technologies. It helps streamlined extraction and control of insights from various documents which includes texts, forms, reviews, and financial documents, ensuring excessive speed and accuracy in report processing.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019 - 2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024 – 2032
Historical Period 2019 - 2022
Growth Rate CAGR of 30.5% from 2024 to 2032
Unit Value (USD billion)
Segmentation By Function
Finance & Accounting
Human Resources
Supply Chain & Procurement
Others (Legal, Marketing, etc.)
By Deployment Model
On-premises
Cloud
By Enterprise Type
Small and Medium-sized Enterprises
Large Enterprises
By Industry
BFSI
Healthcare & Life Sciences
Retail & E-commerce
Manufacturing
Government
IT & Telecom
Others (Construction, Travel & transportation, Energy & Power, etc.)
By Region
North America
- U.S. (By Function)
- Canada (By Function)
- Mexico (By Function)
South America
- Brazil (By Function)
- Argentina (By Function)
- Rest of South America
Europe
- U.K. (By Function)
- Germany (By Function)
- France (By Function)
- Italy (By Function)
- Spain (By Function)
- Russia (By Function)
- Benelux (By Function)
- Nordics (By Function)
- Rest of Europe
Middle East & Africa
- Turkey (By Function)
- Israel (By Function)
- GCC (By Function)
- North Africa (By Function)
- South Africa (By Function)
- Rest of Middle East & Africa
Asia Pacific
- China (By Function)
- India (By Function)
- Japan (By Function)
- South Korea (By Function)
- ASEAN (By Function)
- Oceania (By Function)
- Rest of Asia Pacific
Please Note: It will take 5-6 business days to complete the report upon order confirmation.
- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities, and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Intelligent Document Processing Key Players Market Share/Ranking, 2023
- 5. Global Intelligent Document Processing Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Function (USD)
- 5.2.1. Finance & Accounting
- 5.2.2. Human Resources
- 5.2.3. Supply Chain & Procurement
- 5.2.4. Others (Legal, Marketing, etc.)
- 5.3. By Deployment Model (USD)
- 5.3.1. On-premises
- 5.3.2. Cloud
- 5.4. By Enterprise Type
- 5.4.1. Small and Medium-sized Enterprises
- 5.4.2. Large Enterprises
- 5.5. By Industry
- 5.5.1. BFSI
- 5.5.2. Healthcare & Life Sciences
- 5.5.3. Retail & E-commerce
- 5.5.4. Manufacturing
- 5.5.5. Government
- 5.5.6. IT & Telecom
- 5.5.7. Others (Construction, Travel & transportation, Energy & Power, etc.)
- 5.6. By Region (USD)
- 5.6.1. North America
- 5.6.2. South America
- 5.6.3. Europe
- 5.6.4. Middle East & Africa
- 5.6.5. Asia Pacific
- 6. North America Intelligent Document Processing Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Function (USD)
- 6.2.1. Finance & Accounting
- 6.2.2. Human Resources
- 6.2.3. Supply Chain & Procurement
- 6.2.4. Others (Legal, Marketing, etc.)
- 6.3. By Deployment Model (USD)
- 6.3.1. On-premises
- 6.3.2. Cloud
- 6.4. By Enterprise Type
- 6.4.1. Small and Medium-sized Enterprises
- 6.4.2. Large Enterprises
- 6.5. By Industry
- 6.5.1. BFSI
- 6.5.2. Healthcare & Life Sciences
- 6.5.3. Retail & E-commerce
- 6.5.4. Manufacturing
- 6.5.5. Government
- 6.5.6. IT & Telecom
- 6.5.7. Others (Construction, Travel & transportation, Energy & Power, etc.)
- 6.6. By Country (USD)
- 6.6.1. U.S.
- 6.6.1.1. By Function
- 6.6.2. Canada
- 6.6.2.1. By Function
- 6.6.3. Mexico
- 6.6.3.1. By Function
- 7. South America Intelligent Document Processing Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Function (USD)
- 7.2.1. Finance & Accounting
- 7.2.2. Human Resources
- 7.2.3. Supply Chain & Procurement
- 7.2.4. Others (Legal, Marketing, etc.)
- 7.3. By Deployment Model (USD)
- 7.3.1. On-premises
- 7.3.2. Cloud
- 7.4. By Enterprise Type
- 7.4.1. Small and Medium-sized Enterprises
- 7.4.2. Large Enterprises
- 7.5. By Industry
- 7.5.1. BFSI
- 7.5.2. Healthcare & Life Sciences
- 7.5.3. Retail & E-commerce
- 7.5.4. Manufacturing
- 7.5.5. Government
- 7.5.6. IT & Telecom
- 7.5.7. Others (Construction, Travel & transportation, Energy & Power, etc.)
- 7.6. By Country (USD)
- 7.6.1. Brazil
- 7.6.1.1. By Function
- 7.6.2. Argentina
- 7.6.2.1. By Function
- 7.6.3. Rest of South America
- 8. Europe Intelligent Document Processing Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Function (USD)
- 8.2.1. Finance & Accounting
- 8.2.2. Human Resources
- 8.2.3. Supply Chain & Procurement
- 8.2.4. Others (Legal, Marketing, etc.)
- 8.3. By Deployment Model (USD)
- 8.3.1. On-premises
- 8.3.2. Cloud
- 8.4. By Enterprise Type
- 8.4.1. Small and Medium-sized Enterprises
- 8.4.2. Large Enterprises
- 8.5. By Industry
- 8.5.1. BFSI
- 8.5.2. Healthcare & Life Sciences
- 8.5.3. Retail & E-commerce
- 8.5.4. Manufacturing
- 8.5.5. Government
- 8.5.6. IT & Telecom
- 8.5.7. Others (Construction, Travel & transportation, Energy & Power, etc.)
- 8.6. By Country (USD)
- 8.6.1. U.K.
- 8.6.1.1. By Function
- 8.6.2. Germany
- 8.6.2.1. By Function
- 8.6.3. France
- 8.6.3.1. By Function
- 8.6.4. Italy
- 8.6.4.1. By Function
- 8.6.5. Spain
- 8.6.5.1. By Function
- 8.6.6. Russia
- 8.6.6.1. By Function
- 8.6.7. Benelux
- 8.6.7.1. By Function
- 8.6.8. Nordics
- 8.6.8.1. By Function
- 8.6.9. Rest of Europe
- 9. Middle East & Africa Intelligent Document Processing Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Function (USD)
- 9.2.1. Finance & Accounting
- 9.2.2. Human Resources
- 9.2.3. Supply Chain & Procurement
- 9.2.4. Others (Legal, Marketing, etc.)
- 9.3. By Deployment Model (USD)
- 9.3.1. On-premises
- 9.3.2. Cloud
- 9.4. By Enterprise Type
- 9.4.1. Small and Medium-sized Enterprises
- 9.4.2. Large Enterprises
- 9.5. By Industry
- 9.5.1. BFSI
- 9.5.2. Healthcare & Life Sciences
- 9.5.3. Retail & E-commerce
- 9.5.4. Manufacturing
- 9.5.5. Government
- 9.5.6. IT & Telecom
- 9.5.7. Others (Construction, Travel & transportation, Energy & Power, etc.)
- 9.6. By Country (USD)
- 9.6.1. Turkey
- 9.6.1.1. By Function
- 9.6.2. Israel
- 9.6.2.1. By Function
- 9.6.3. GCC
- 9.6.3.1. By Function
- 9.6.4. North Africa
- 9.6.4.1. By Function
- 9.6.5. South Africa
- 9.6.5.1. By Function
- 9.6.6. Rest of Middle East & Africa
- 10. Asia Pacific Intelligent Document Processing Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Function (USD)
- 10.2.1. Finance & Accounting
- 10.2.2. Human Resources
- 10.2.3. Supply Chain & Procurement
- 10.2.4. Others (Legal, Marketing, etc.)
- 10.3. By Deployment Model (USD)
- 10.3.1. On-premises
- 10.3.2. Cloud
- 10.4. By Enterprise Type
- 10.4.1. Small and Medium-sized Enterprises
- 10.4.2. Large Enterprises
- 10.5. By Industry
- 10.5.1. BFSI
- 10.5.2. Healthcare & Life Sciences
- 10.5.3. Retail & E-commerce
- 10.5.4. Manufacturing
- 10.5.5. Government
- 10.5.6. IT & Telecom
- 10.5.7. Others (Construction, Travel & transportation, Energy & Power, etc.)
- 10.6. By Country (USD)
- 10.6.1. China
- 10.6.1.1. By Function
- 10.6.2. Japan
- 10.6.2.1. By Function
- 10.6.3. India
- 10.6.3.1. By Function
- 10.6.4. South Korea
- 10.6.4.1. By Function
- 10.6.5. ASEAN
- 10.6.5.1. By Function
- 10.6.6. Oceania
- 10.6.6.1. By Function
- 10.6.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. ABBYY
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Rossum
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. AntWorks
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Hyperscience
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Celaton Limited
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Infrrd Inc.
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. UiPath
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Automation Anywhere Inc.
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Hyland Software Inc.
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Kofax Inc.
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook