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The latest released Intelligent Document Processing Market study has evaluated the future growth potential of global market and provides information and useful stats on market structure and size. The report is intended to provide market intelligence and strategic insights to help decision makers take sound investment decisions and identify potential gaps and growth opportunities. Additionally, the report also identifies and analyses changing dynamics, emerging trends along with essential drivers, challenges, opportunities and restraints in the market.
The intelligent document processing market is expected to grow from US$ 1,022.73 million in 2021 to US$ 8,045.81 million by 2028, with an estimated CAGR of 34.6% from 2022 to 2028.
The intelligent document processing market growth is bolstered by numerous factors, such as rising initiatives to digitalize content across diverse enterprises and growing adoption of cloud document processing solutions. Furthermore, the increasing adoption of automated tools in the work processes by SMEs, particularly in developing economies, is offering lucrative opportunities to the intelligent document processing market.
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MARKET DYNAMICS
Intelligent document processing solutions are gaining a foothold among large enterprises and SMEs in developing countries as well as emerging economies. The market players are continuously experiencing substantial demand for their products. Also, several governments are emphasizing on procuring the software to benefit text mining and data segregation. It is expected that by the end of the forecast period, the volume of unstructured data would be exponential, and end users would seek an advanced document processing tool or platform to analyze critical and meaningful insights. With an aim to enhance business processes, industries such as BFSI, retail, healthcare, manufacturing, telecommunication, and transportation would demand continuous upgrades of their document processing software through professional service or managed service, which is anticipated to create a significant growth opportunity for the intelligent document processing market players.
Major Key Points of Intelligent Document Processing Market
The Key Players in The Global Intelligent Document Processing Market Are:
MARKET SEGMENTATION
The global intelligent document processing market is segmented based on component, deployment, enterprise size, and industry. In terms of component, the intelligent document processing market is segmented into solutions and services. Based on deployment, the intelligent document processing market is bifurcated into on-premise and cloud. Further, in terms of enterprise size, the market is segmented into SMEs and large enterprises. Based on industry, the intelligent document processing market is segmented into BFSI, government, retail & e-commerce, IT & telecom, healthcare, manufacturing, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides overview and forecast of the global intelligent document processing market based on various segments. It also provides market size and forecast estimates from 2019 to 2028 with respect to five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. Each region’s intelligent document processing market is later subsegmented into respective countries and segments. The intelligent document processing market report covers analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in the region.
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