Intelligent Document Processing Market To Reach $7.4 Billion Globally By 2031 At 21.7% CAGR: Allied Market Research

Growing requirements for better customer satisfaction and growing adoption of digitization and artificial intelligence are driving the growth of the global intelligent document processing market.

PORTLAND, Oregon., November 25, 2022 /PRNewswire/ — Allied Market Research released a report titled, “Intelligent Document Processing Market by Component (Solution, Services), by Organization Size (SMB, Large Enterprise), by Deployment Model (Cloud, On Premise ), by Technology (Natural Language Processing, Optical Character Recognition, Machine Learning, Artificial Intelligence, others), by Vertical End-Use (BFSI, Government, Healthcare, Retail, Manufacturing, others): Global Opportunity Analysis and Forecasts Industry Sector, 2021-2031 “According to the report released by Allied Market Research, the global Intelligent Document Processing market was estimated at $1.1 billion in 2021 and should hit $7.4 billion by 2031, registering a CAGR of 21.7% from 2022 to 2031.

Allied Market Research logo

Download the free sample report at:

https://www.alliedmarketresearch.com/request-sample/32182

Drivers, constraints and opportunities

Growing requirements for better customer satisfaction and growing adoption of digitization and artificial intelligence are driving the growth of the global intelligent document processing market. On the other hand, several government initiatives associated with compliance requirements are hampering growth to some extent. However, increased demand from several end-use verticals is expected to create lucrative opportunities in the industry.

Covid-19 scenario

  • The increase in the use of online network connectivity and the increase in online purchases of essential goods has given way to a significant increase in the demand for intelligent connectivity and intelligent document processing solutions, positively impacting the global market intelligent document processing.

  • This drift is likely to continue even after the pandemic ends.

The solutions segment will dominate by 2031

By component, the solutions segment held the largest share in 2021, accounting for more than two-thirds of the global Intelligent Document Processing market’s revenue. The same segment would also cite the fastest CAGR of 22.2% during the forecast period. This is because the solutions segment enables organizations to efficiently control, manage and execute their business operations and support business and customer-oriented businesses across various industries.

The large business segment will retain the lion’s share

Based on organization size, the large enterprise segment contributed more than three-quarters of the revenue of the global Intelligent Document Processing market in 2021, holding the largest share. The same segment is also expected to grow at the fastest CAGR of 22.3% during the forecast period. Large enterprises can be defined as organizations that have a workforce greater than 1,000. Such enterprises include a growing number of skilled individuals with high privacy and data security concerns. These businesses can often handle massive broadcast data on platforms with a well-equipped and maintained connected infrastructure.

The cloud segment to govern the roost

Based on the deployment model, the cloud segment accounted for more than three-fifths of the global Intelligent Document Processing market revenue in 2021, making up the lion’s share. The same segment would also show the fastest CAGR of 22.4% from 2022 to 2031. This is attributed to the fact that intelligent cloud document processing is a virtual portal that runs in a cloud computing environment rather than systems on site. It is created and hosted online using a cloud computing infrastructure that can be accessed remotely.

Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/32182

North America held the largest stake in 2021

By region, North America generated the largest share in 2021, holding nearly two-fifths of the revenue of the global intelligent document processing market. To be an early adopter and inventor of advanced technologies and solutions North America has emerged as a major user of technology. The Asia-Pacific the region, concurrently, is expected to represent the fastest CAGR of 23.0% during the forecast period. This is due to the fact that intelligent service providers are actively participating in the promotion of electronic records and advanced document processing solutions.

Industry leaders

  • Datamatics Technologies Ltd.

  • WorkFusion, Inc.

  • Deloitte Touche Tohmatsu Limited

  • HCL Technologies Limited

  • Kodak Alaris (Eastman Kodak Company)

  • Kofax Inc.

  • Hyland Software, Inc.

  • Infrrd Inc.

  • Solutions ABBYY Ltd.

  • International Business Machines Corporation

The report analyzes these key players in the global Intelligent Document Processing market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and more to increase their market penetration and strengthen their position in the industry. The report is useful for evaluating the operating segments, their business performance and product portfolio, and so on.

Purchase this report at:

https://www.alliedmarketresearch.com/checkout-final/f86d3e63429663034d1433b86a82547c

Trend reports in the ICT and media sector (book now with a 10% discount):

Marketing analysis software market expected to achieve $14.3 billion by 2031

The digital media production software market is expected to catch up $36.3 billion by 2031

Strategy Consulting market expected to be reached $111.4 billion by 2031

The marketing attribution software market is expected to catch up $12.9 billion by 2031

Who we are

Allied Market Research (AMR) is a full service market research and business consultancy from Allied Analytics LLP based in Portland, Oregon. Allied Market Research offers global enterprises and medium and small businesses an unmatched quality of “Market research reportsand “Business Intelligence Solutions”. AMR has a focused vision to provide business insights and advice to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.

We have professional business relationships with various companies and this helps us to dig market data which helps us generate accurate research data tables and confirms utmost accuracy in our market forecasts. Chief Executive Officer of Allied Market Research Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high data quality and help customers in any way possible to achieve success. Every single piece of data presented in the reports we publish is extracted through primary interviews with senior officials of the major domain companies concerned. Our secondary data sourcing methodology includes extensive online and offline research and discussions with experienced professionals and industry analysts.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
United States of America/Canada (Green number): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Spider web: https://www.alliedmarketresearch.com/reports-store/information-and-communication-technology-and-media
Follow us on the blog: https://www.technologyplz.com/

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

cision

cision

View original content: https://www.prnewswire.com/news-releases/intelligent-document-processing-market-to-reach-7-4-bn-globally-by-2031-at-21-7-cagr – allied-market-research-301687151.html

SOURCE Allied Market Research

Leave a Reply

%d bloggers like this: