Authored By: Sarah
04 Aug 2023

Intelligent Document Processing Market to Post a CAGR of progressing 29.69% through 2023-2027

The rising usage of big data analytics, the reduction of document management costs, and the introduction of cloud-based deployment solutions have developed the Intelligent Document Processing Market (IDP). It is estimated to grow by USD 3,342.6 million at a  CAGR of 29.69% between 2022 and 2027. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. 

Market Segment analysis: When it comes to segment analysis the market for  Intelligent Document Processing (IDP) can be segmented depending on several factors be it type, fastest-growing segment, fastest-growing region, or the overall geography of the market landscape.

  • The market for Intelligent Document Processing (IDP) is segmented by component (solution and services), end-user (BFSI, IT and telecom, manufacturing, healthcare, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 
  • When it comes to the growth of a particular segment rise of the solution segment of global intelligent document processing will be significant during the forecast period.
  • Speaking of fastest growing geography North America is estimated to contribute 38% to the growth of the global market. It is one of the prominent regions with the highest market share in intelligent document processing as enterprises in the region are tech-oriented and got substantial investments in technologies to digitize their paper-based processes around most of the operating segments.

Intelligent Document Processing Market to Post a CAGR of progressing 29.69% through 2023-2027

Intelligent Document Processing Market Segments at a Glance

Key Companies: Some of the prominent names worth mentioning are ABBYY Solutions Ltd., Adobe Inc., Alphabet Inc., Inc., Automation Anywhere Inc., Capgemini Service SAS, Celaton Ltd., DATAMARK Inc., Datamatics Global Services Ltd., Dell Technologies Inc., International Business Machines Corp., Kofax Inc., Lexmark International Inc., M Files, Microsoft Corp., Open Text Corp., SAP SE, SS and C Technologies Holdings Inc., UiPath Inc., and WorkFusion Inc.Our report on the Intelligent Document Processing Market offers in-depth insights into key vendor profiles with a wider understanding of the business ecosystem. Download a  sample report today.

Quick Info: IDP software has various day-to-day applications, such as identifying and authenticating users accessing different applications. It helps create a secure and seamless user experience across multiple platforms

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