Intelligent Document Processing Market Size - By Component (Solution, Services), Enterprise Size (SMEs, Large Enterprises), Technology (Machine Learning, Natural Language Processing (NLP), Computer Vision, Others), Deployment, End User & Forecast, 2023 -

Intelligent Document Processing Market Size - By Component (Solution, Services), Enterprise Size (SMEs, Large Enterprises), Technology (Machine Learning, Natural Language Processing (NLP), Computer Vision, Others), Deployment, End User & Forecast, 2023 - 2032

Intelligent Document Processing Market size is poised to record over 24.7% CAGR from 2023-2032. The rapid growth of mobile devices is leading to the development of mobile IDP solutions for enabling users to capture and process documents using smartphones and tablets. As per Datareportal, the number of mobile users across the globe reached 5.6 billion in October 2023. With the continuous evolution of mobile devices, the capabilities and applications of mobile IDP solutions is further growing for enhancing convenience, efficiency, and productivity for users to cater to different industries.

The overall intelligent document processing market is segmented based on component, deployment, enterprise size, technology, end user, and region.

In terms of deployment, the industry size from the cloud segment may record appreciable CAGR from 2023-2032 owing to growing need to automate extraction whilst processing the incoming invoices as well as sales orders for enhancing efficiency and accuracy in accounts receivable functions. Cloud-based IDP also assists organizations in keeping track of contract milestones and obligations. Advantages, such as scalability, flexibility, and cost-effectiveness in automating document-centric processes and improving operational efficiency will add to the segment growth.

On the basis of end-user, the IPD market value from the healthcare segment is expected to expand up to 2032 due to higher adoption to improve operational efficiency, patient care, and compliance. With the generation and management of vast amounts of administrative documents in the healthcare sector, overall intelligent document is largely deployed for automating the processing and limiting the need for manual data entry and paperwork. The surging focus of streamlined administrative processes and reduced risk of errors for ultimately saving time and resources will define the industry expansion.

Regionally, Asia Pacific intelligent document processing industry is projected to record notable CAGR through 2032 due to the surge in data security and privacy concerns. The presence of large population base and the rising digitalization efforts in emerging economies, including India, China, and Southeast Asian countries is adding to the substantial adoption of IDP solutions. The growing diverse and stringent regulatory requirements in the finance, healthcare, and government sectors will also push the regional market growth.