Intelligent Document Processing (IDP) Solutions Market - Introduction
- Intelligent document processing is adopted
by many organizations to perform the document related analysis process on
a daily basis. Intelligent document processing is used in the process of
translating the document content (electronic or physical) into actionable
and organized data for further processes.
- Intelligent document processing is majorly used by analysts and
technology software vendors. Solution providers offer the solution with
artificial intelligence and intelligent character recognition (ICR)
technology.
- Intelligent document processing is also
known as intelligent process automation in which natural language
processing or ICR and machine learning technologies are using to improving
the performance of document processing.
- Organizations receive huge data in the
form of semi-structured and unstructured data such as sales orders,
invoices, and customer correspondence which difficult to be organized by
rule based automation software. Companies are adopting the intelligent
document processing solution to manage large data and for data mining to
improve the data quality for analysis.
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Major
Key Players of the Intelligent Document Processing (IDP) Solutions Market are:
ABBYY, WorkFusion, Inc., Kofax Inc., AntWorks,
Automation Anywhere, and Hyper Labs, Inc.
Key Drivers of the
Intelligent Document Processing (IDP) Solutions Market
- Growing demand for automated advanced
document processing software to improve the data analysis from an
unstructured database is expected to drive the market growth of
intelligent document processing (IDP) solutions. Increasing use of AI and
intelligent character recognition technology is expected to boost the
demand for intelligent document processing (IDP) solutions during the
forecast period.
- Adoption of new technology is anticipated
to create business opportunity for intelligent document processing
solution providers to offer data analytics solutions to improve the data
mining and decision making process.
Low adoption by
small and medium scale enterprises expected to hinder the market
- The low adoption of the intelligence
document processing solution by small and medium enterprises due to high
cost of the solution may restrain the market growth of intelligent
document processing (IDP) solutions among small and medium enterprises.
- Large enterprises majorly use intelligent
document processing to analyze the huge amount of data or improve the data
base for analytics processes.
Global Intelligent
Document Processing (IDP) Solutions Market: Research Scope
Global Intelligent
Document Processing (IDP) Solutions Market, by Component
- Software
- On-premises
- Cloud Based
- Services
- Professional Services
- Managed Services
Global Intelligent
Document Processing (IDP) Solutions Market, by Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
Global Intelligent
Document Processing (IDP) Solutions Market, by End-user
- BFSI
- IT& Telecom
- Legal
- Pharmaceutical
- Manufacturing
- Transportation and Logistics
- Retail and E-Commerce
- Others
Research
objectives:-
– To study and analyze the global Intelligent
Document Processing (IDP) Solutions consumption (value & volume) by key
regions/countries, product type and application, history data.
– To understand the structure of the Intelligent Document Processing (IDP)
Solutions market by identifying its various sub-segments.
– Focuses on the key global Intelligent Document Processing (IDP) Solutions
manufacturers, to define, describe and analyze the sales volume, value, market
share, market competitive landscape, SWOT analysis, and development plans in
the next few years.
– To analyze the Intelligent Document Processing (IDP) Solutions with respect
to individual growth trends, future prospects, and their contribution to the
total market.
– To share detailed information about the key factors influencing the growth of
the market (growth potential, opportunities, drivers, industry-specific
challenges and risks).
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In the end, Intelligent Document Processing
(IDP) Solutions industry report specifics the major regions, market scenarios
with the product price, volume, supply, revenue, production, and market growth
rate, demand, forecast and so on. This report also presents SWOT analysis,
investment feasibility analysis, and investment return analysis.
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