Global Intelligent Document Processing Market Report and Forecast 2024-2032

Global Intelligent Document Processing Market Outlook

The global intelligent document processing market size reached approximately USD 4.51 billion in 2023. The market is estimated to grow at a CAGR of 34.7% between 2024 and 2032, reaching a value of nearly USD 65.87 billion by 2032.

Key Trends in the Market

Intelligent document processing (IDP) is an advanced AI-enabled technology used by organisations to digitise and automate their unstructured data from various sources, including business documents, emails, images, and PDF documents. IDP uses various technologies to scan through these documents, identify crucial pieces of information, and then contextualise the data before presenting it to the user.

• The growing digitisation in sectors worldwide to improve operational efficiency and generate revenue drives the global intelligent document processing market demand. The rising demand for cost-effective document-processing software from various sectors, including BFSI, healthcare, and life sciences, to gather crucial business insights and formulate strategies for the future also assists the market growth.

• The influx of unstructured and semi-structured data in organisations is driving the intelligent document processing market growth. The growing complexity of data and the need to process it accurately and quickly are boosting the adoption of this software. Incorporating robotic process automation (RPA) with IDP involves extracting unstructured data and structuring information from it, which allows businesses to automate the whole process, aiding the market growth.

• One of the significant intelligent document processing market trends include the growing emphasis by organisations on providing an enhanced customer experience, improving operational efficiency, and introducing customisation to improve their operational efficiency. IDP software can auto-classify, categorise, and crop documents to facilitate data extraction. The intelligent character recognition software can easily identify glyphs and other textual elements, resulting in a more in-depth analysis.

Market Analysis

Based on component, the intelligent document processing market segmentation includes solution and services. On the basis of organisation size, the market can be bifurcated into small and medium sized enterprises (SMEs) and large size enterprises. Based on deployment, the market is segregated into cloud and on-premise. On the basis of technology, the market is divided into natural language processing, optical character recognition, machine learning, and artificial intelligence, among others.

Based on end use, the intelligent document processing market is segmented into BFSI, healthcare, manufacturing, retail, government and public sector, transportation and logistics, and IT and telecom, among others. The major regional markets for intelligent document processing are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global intelligent document processing market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• ABBYY Development Inc.  

• Automation Anywhere, Inc.  

• IBM Corporation 

• HCL Technologies Limited  

• Kofax Inc.  

• WorkFusion, Inc.  

• Appian Corporation  

• Datamatics Global Services Limited.  

• UiPath 

• Others

Market Share by Deployment

Cloud-based IDP is expected to hold a significant portion of the global intelligent document processing market share over the forecast period as it provides remote access to the user. Additionally, cloud-based solutions are cost-effective in the long run, hence key market players are working towards offering cloud-based intelligent document processing solutions.

Cloud-based systems have allowed users to apply predictive capabilities for the entire organisation. Meanwhile, on-premise IDP is also expected to grow at a steady rate in the forecast period owing to its enhanced security.

Market Share by Organisation Size

As per the intelligent document processing market analysis, large enterprises are more likely to adopt intelligent data processing as they receive a huge amount of unstructured or semi-structured data on a regular basis. Hence, there is a growing demand for scalable solutions to process this data accurately and efficiently to reduce operational costs and improve internal workflows.

Large organisations need intelligent data processing software to identify patterns in data and develop chatbots and other features to carry out different operations, including making payments, checking account details, and analysing customer feedback.

Competitive Landscape

ABBYY Development Inc. is an American digital intelligence company that is headquartered in California. The company was started in 1989 and specialises in developing solutions for intelligent document processing, data capture, process intelligence, and optical character recognition.

Automation Anywhere, Inc. is an American software development company that began operations in 2003. Headquartered in California, the company develops robotic process automation software. The company was originally founded as Tethys Solution and was later rebranded as Automation Anywhere.

IBM Corporation, founded in 1911, is an American multinational technology corporation that is headquartered in New York. The company deals in over 175 countries and specialises in computer hardware, middleware, and software. IBM intelligent document processing software combines AI with deep learning and low code technology to extract information quickly, easily, and accurately.

Other market players included in the global intelligent document processing market report are HCL Technologies Limited, Kofax Inc., WorkFusion, Inc., Appian Corporation, Datamatics Global Services Limited., and UiPath, among others.

Key Highlights of the Report

Intelligent Document Processing Market Report Snapshots

Intelligent Document Processing Market Size

Intelligent Document Processing Market Analysis

Intelligent Document Processing Market Share

Intelligent Document Processing Companies