The global demand for Intelligent Document Processing (IDP) Solutions Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028.
Intelligent Document Processing (IDP) Solutions, often called Intelligent Capture is a set of technological solutions used to carry out a well-organized document processing in a firm. IDP uses machine learning (ML), natural language processing (NLP) and artificial intelligence (AI) technologies for automated processing of documents and hence eliminate redundancy. These solutions are sought after by firms where a huge volume of structured and unstructured data is processed regularly. It is an essential component in the digital transformation of a firm. IDP ensures a streamlined workflow, improved resource allocation, and enhanced performance along with reduced costs.
Growing demand for automated solutions for document processing and data analysis will be the most important driver for the IDP market. Increased demand for technological solutions involving AI and ML techniques for data analysis will boost market growth. Large volumes of documents involved in government, health care, banking and insurance sectors and need for automated solutions to handle complex documents with a high degree of accuracy will augment the market growth. The demand for IDP will be on the rise during COVID-19 pandemic especially in the health care sector which involves a large volume of data in the form of patients' records. The main restraining factor for the adoption of IDP by small and midsize businesses will be the high costs involved.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of intelligent document processing (idp) solutions.
The entire intelligent document processing (idp) solutions market has been sub-categorized into solution, organization size and vertical. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Organization Size
- Large Enterprises
- Small and Medium-Sized Enterprises
This section covers regional segmentation which accentuates on current and future demand for intelligent document processing (idp) solutions market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Intelligent Document Processing (IDP) Solutions Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the intelligent document processing (idp) solutions market include ABBYY, AnyWorks, Celaton, Datamatics, Edgewar, Others. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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