Intelligent document processing market is anticipated to grow at a CAGR of 23.7% during the forecast period (2024-2031). The market growth is attributed to the rising use of automation in document processing, the adoption of advanced technologies such as artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) in document processing, and organizational efforts to reduce cost alongside increasing overall efficiency. In recent years, the market has recorded an exponential increase in usage of intelligent document processing software in industries such as BFSI, healthcare & life sciences, retail & e-commerce owing to an increase in the number of documents to be processed. Further, the market trends are moving towards an increase in cloud-based offerings, integration of human-in-the-loop (HITL) systems, and enhanced customer experience through reducing response time.
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The growth in the intelligent document processing market is driven by the rising adoption of intelligent automation across organizations to increase productivity and efficiency. Major functions in the organization such as marketing, HR, finance, and analytics are utilizing intelligent document processing software to gather insights, scan documents, and shortlist candidates, resulting in reduced workload and optimal decision-making process. For instance, according to the report by World Economic Forum, by 2025, automation and a new division of labor between humans and machines will disrupt 85 million jobs globally in medium and large businesses across 15 industries and 26 economies and more than 80.0% of business executives are accelerating plans to digitize work processes and deploy new technologies, while 50.0% of employers are expecting to accelerate the automation of some roles in their companies.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Intelligent Document Processing Market Report Segment
By Enterprise Type
- Small And Medium-Sized Enterprises
- Large Enterprises
By Function
- Finance & Accounting
- Human Resources
- Supply Chain & Procurement
- Others (Legal, Marketing)
By Function
- On-premises
- Cloud
By Function
- BFSI
- Healthcare & Life Sciences
- Retail & E-Commerce
- Manufacturing
- Government
- IT & Telecom
- Others (Construction, Travel & Transportation, Energy & Power)
Global Intelligent Document Processing Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- The Middle East and Africa
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global intelligent document processing market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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