Published Date: 14-Jul-2021
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According to a new report Global Intelligent Document Processing Market, published by KBV research, The Global Intelligent Document Processing Market size is expected to reach $4.1 billion by 2027, rising at a market growth of 29.2% CAGR during the forecast period.
Based on the Component, the solution segment would acquire the largest market share over the forecast period. Intelligent document processing solutions enable companies to transform their unstructured & semi-structured data into structured data. In addition, intelligent document processing is the advanced automation, which captures, obtains, and processes information from numerous document formats. It utilizes AI technologies like computer vision, natural language processing (NLP), deep learning, and machine learning (ML), to organize, categorize, and obtain significant data and also authenticate the extracted data.
The cloud segment is projected to showcase highest growth rate over the forecast period. Cloud deployment provides a wide range of advantages to companies. The benefits of cloud deployment for IDP are easy availability, hassle-free deployment, scalability, and decreased operational costs. Additionally, the growing awareness among the companies regarding the advantages of cloud-based IDP solutions would further augment the growth of the intelligent document processing market during the forecast period. The cost-efficiency and scalability of cloud-based IDP are projected to spur the cloud-based intelligent document processing solutions market.
The North America market dominated the Global Intelligent Document Processing Market by Region 2020, and would continue to be a dominant market till 2027. The Europe market is experiencing a CAGR of 28.2% during (2021 - 2027). Additionally, The Asia Pacific market is poised to witness a CAGR of 31.2% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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).
By Deployment Type
By Enterprise Size
By End User
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