Europe Intelligent Document Processing Market By Component (Solution and Services), By Deployment Type (On-premise and Cloud), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By End User (BFSI, Government & Defense, IT & Telecom, Healthcare, Manufacturing, Transportation & Logistics and Others), By Country, Growth Potential, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The Europe Intelligent Document Processing Market would witness market growth of 28.2% CAGR during the forecast period (2021-2027).
Intelligent document processing enables improved human knowledge of unstructured data by using some data science tools such as optical character recognition, computer vision, machine learning, and natural language processing, in every step of document data integration. Intelligent document processing (IDP) is becoming popular because it offers extensive solutions to automate the process of data extraction, which was difficult to solve earlier.
Document Processing is quite popular term for several companies, which helps in various business functions that are performed on a daily basis for many years. The procedure of transforming the data of any document be it physical or electronic, into some actionable information or structured data that has some meaning is referred to as document processing. The tasks needed to perform document processing were manual & repetitive and owing to the enormous amount of data received, it becomes a labor-intensive process, which is generally less than rewarding for the workers.
Europe is the second leading region in the global intelligent document processing market. The increasing adoption of intelligent document processing solutions by the BFSI sector of Europe to improve the banking processes is bolstering the growth of the regional market. The high adoption of intelligent document processing solutions by companies across this region is augmenting the market growth.
In addition, some government regulations and compliances support the adoption of intelligent document processing solutions to ensure the safety of consumers’ sensitive data, which would fuel the growth of the regional intelligent document processing market. All these factors are collaboratively driving the growth of the intelligent document processing market in this region.
The Germany market dominated the Europe Cloud Intelligent Document Processing Market by Country 2020, thereby, achieving a market value of $132.1 million by 2027. The UK market is exhibiting a CAGR of 31.6% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 33.6% during (2021 - 2027).
Based on Component, the market is segmented into Solution and Services. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, Government & Defense, IT & Telecom, Healthcare, Manufacturing, Transportation & Logistics and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include OpenText Corporation, IBM Corporation, ABBYY Solutions Limited, Appian Corporation, Automation Anywhere, Inc., UiPath, Inc., WorkFusion, Inc., Datamatics Global Services Limited (Delta Infosolutions Private Limited), Deloitte Touche Tohmatsu Limited, and Kofax, Inc. (Thoma Bravo LLC).
Scope of the Study
Market Segments Covered in the Report:
By Deployment Type
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
By End User
- Government & Defense
- IT & Telecom
- Transportation & Logistics
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- OpenText Corporation
- IBM Corporation
- ABBYY Solutions Limited
- Appian Corporation
- Automation Anywhere, Inc.
- UiPath, Inc.
- WorkFusion, Inc.
- Datamatics Global Services Limited (Delta Infosolutions Private Limited)
- Deloitte Touche Tohmatsu Limited
- Kofax, Inc. (Thoma Bravo LLC)
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