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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Intelligent Document Processing Market Size
The global intelligent document processing market 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.
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
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 4.51 billion.
The market is projected to grow at a CAGR of 34.7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach nearly USD 65.87 billion by 2032.
The major market drivers include the influx of data from various sources and the growing digitisation across various end-use sectors.
The key trends of the market are the growing awareness regarding intelligent document processing software and the incorporation of robotic process automation with IDP software.
The major regional markets for intelligent data processing solutions are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The various end uses of intelligent document processing are BFSI, healthcare, manufacturing, retail, government and public sector, transportation and logistics, and IT and telecom, among others.
The key players included in the market report are ABBYY Development Inc., Automation Anywhere, Inc., IBM Corporation, HCL Technologies Limited, Kofax Inc., WorkFusion, Inc., Appian Corporation, Datamatics Global Services Limited., and UiPath, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124