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Document Analytics Global Market To Grow At Rate Of 50% Through 2026 | ABBYY, Celaton, Extract, HCL, HyperScience
Document Analytics Global Market
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The global document analytics market report by the business research company identifies rising initiatives to digitize content to be a major growth driver for the document analytics market. Various governments are taking steps to digitalize the contents to enhance the security and ease of access of the documents. This will increase the usage of document analytics. For instance, in August 2021, the Internal Revenue Service (IRS) of the United States awarded five $7.5 million contracts using an experimental procurement vehicle in support of a multiple-solution competition to digitize paper files. The IRS intended to use the pilot IRS program to test innovative solutions capable of receiving, preparing, reproducing, sorting, storing, validating, returning, and transferring digital files of IRS documents and records to build programs that help with the scanning of paper files and the extraction of machine-readable data. The various initiatives to digitalize content will invariably increase the demand for document analytics technologies and services.
The global document analytics market size is expected to grow from $1.10 billion in 2021 to $1.63 billion in 2022 at a compound annual growth rate (CAGR) of 48.10%. The global document analytics market size is expected to grow to $8.15 billion in 2026 at a compound annual growth rate (CAGR) of 49.58%.
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North America was the largest region in the document analytics market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global document analytics market during the forecast period. The regions covered in the global document analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Major players in the document analytics market are ABBYY, Celaton, Extract, HCL, HyperScience, IBM, Kofax, WorkFusion, Hyland, Datamatics, Automation, AntWorks, Parascript, Infrrd, and OpenText.
The global document analytics market is segmented -
1) By Product Type: Solutions, Services, Professional Services, Managed Services
2) By Industry Vertical: BFSI, Government, Healthcare and Life Sciences, Retail and eCommerce, Manufacturing, Transportation and Logistics, Others
3) By Deployment Type: Cloud, On-Premise
4) By Organization Size: Large Enterprises, Small and Medium-Sized Enterprises (SMEs).
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The Document Analytics Market Report Contents Include
1. Executive Summary
2. Document Analytics Market Characteristics
3. Document Analytics Market Trends And Strategies
4. Impact Of COVID-19 On Document Analytics
5. Document Analytics Market Size And Growth
....
26. Africa Document Analytics Market
27. Document Analytics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Document Analytics Market
29. Document Analytics Market Future Outlook and Potential Analysis
30. Appendix
This report covers the trends and market dynamics of the Document Analytics market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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