Intelligent Document Processing Solution Market is growing at a CAGR of 36.5%
Intelligent Document Processing Solution market is expected to grow at a CAGR of 36.5% during the forecast period of 2021-2031. The Intelligent Document Processing Solutions transforms unstructured and semi-structured data into usable information by using the technologies such as Natural Language Processing (NLP), Machine Learning (ML), or Intelligent Character Recognition (ICR).
By using such technologies to the processing documents, it eliminates the task that rely on the human intervention. This includes high volume of unstructured and semi-structured documents such as sales orders, invoices, and customer correspondence, which can’t be processed using rules-based automation software.
Need More Insights on Competitor Analysis of the report, Request for Sample@ https://www.persistencemarketresearch.com/samples/32999
What is Driving Demand for Intelligent Document Processing Solution?
Rise in the digitalization across the globe is influencing the companies to use a wide variety of technology solutions which simplifies the document processing procedure. This further has increased the demand for automated advanced document processing software which will enhance the data analysis from an unstructured format is anticipated to bolster the intelligent document processing (IDP) solutions market growth.
Therefore, using the technologies like ML, AL, and NLP has simplified the major task of the companies. Also, by the adoption of various technologies by the IDP solution providers offers data analytics solutions to enhance the data mining with the decision making process.
Government vertical is expected to grow with the significant CAGR for the Intelligent Document Processing Solution market by End-User
On the basis of end-user, the market for Intelligent Document Processing Solution is segmented into BFSI, IT& Telecom, government, pharmaceutical, manufacturing, transportation and logistics, retail and e-commerce. Out of which government is expected to grow with significant CAGR.
The growth of the segment can be attributed to the increase in the demand for greater flexibility, improved data security, and advanced intelligence in the government sector. Also, the public sectors, healthcare, BFSI, and life sciences are the major industries that are responsible in generating significant revenue for the IPO solutions market.
If You want to Purchase Specific Insights By Segment/Region/Competitor, Request For Customization@ https://www.persistencemarketresearch.com/request-customization/32999
North America Intelligent Document Processing Solution Demand Outlook
North America is one of the largest markets for Intelligent Document Processing Solution across the globe. The growth in the region is majorly attributed to the rise in the adoption in the various industry verticals coupled with the increase in IT spending. The adoption of the advanced technologies like ML, AI, and NLP among the enterprises is significantly high in the region.
Additionally, presence of the major vendors is also responsible for the market growth in the region. Also, North America is the most quickly changing and competitive market across the globe. Further, the region is also projected to adopt new technologies at a faster pace as compared to other countries worldwide.
Europe Demand Outlook for Intelligent Document Processing Solution
Europe is anticipated to hold the second largest market share of the Intelligent Document Processing Solution during the forecast period followed by North America. Germany, UK, and France are the major growth engines for the IDP market.
Industries such as transportation and logistics, BFSI, healthcare, manufacturing are at the forefront of accepting IDP solutions. Most of the enterprises are focusing towards automating internal business functions which positively impacted the market growth in the region.
Who are the Key Manufacturers and Suppliers of Intelligent Document Processing Solution?
Some of the leading manufacturers of Intelligent Document Processing Solution market are
- ABBYY
- Kofax
- Kodak Alaris
- Extract Systems
- AntWorks
- Automation Anywhere
- Datamatics
- Hyperscience
- Deloitte
- Celaton
- InData Labs
- Rossum
- Evolution AI
- Parascript LLC
- UiPath
- Ephesoft
- Among others.
If You Want To Know The Business Opportunity/Market Value, Purchase The Premium Insight@ https://www.persistencemarketresearch.com/checkout/32999
About us:
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers’ experience by acting as the “missing” link between “customer relationships” and “business outcomes’. The best possible returns are assured therein.
Contact Us:
Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com
Website – https://www.persistencemarketresearch.com