Press release
Intelligent Document Processing Market Size Is Likely To Reach a Valuation of Around $7.4 Billion by 2031
Intelligent Document Processing Market
Increasing requirements for improved customer satisfaction and rising adoption of digitalization & artificial intelligence drive the growth of the global intelligent document processing market. On the other hand, several government initiatives associated with compliance requirements impede the growth to some extent. However, rising demand from several end use verticals is expected to create lucrative opportunities in the industry.
Download Sample Report (Get Full Insights in PDF - 230 Pages) at: https://www.alliedmarketresearch.com/request-sample/A31732
Key Market Drivers:
Digital Transformation: Organizations are increasingly investing in digital solutions to automate and streamline their document processing, leading to improved operational efficiency.
AI and Machine Learning Integration: The incorporation of AI technologies enhances the capability of IDP systems to process unstructured data, making them more effective than traditional methods like Optical Character Recognition (OCR).
Customer Satisfaction: Companies are leveraging IDP to provide real-time updates and improve internal communications, which directly enhances customer experiences.
Market Challenges:
Compliance Regulations: Government initiatives related to compliance can hinder market growth, as organizations must navigate complex regulatory environments.
Fragmented Market: The IDP market is highly competitive and fragmented, with numerous players vying for market share, which can complicate strategic positioning for new entrants.
For Report Customization: https://www.alliedmarketresearch.com/request-for-customization/A31732
By deployment model, the cloud segment accounted for more than three-fifths of the global intelligent document processing market revenue in 2021, garnering the lion's share. The same segment would also display the fastest CAGR of 22.4% from 2022 to 2031. This is attributed to the fact that cloud intelligent document processing is a virtual portal that runs in a cloud computing environment rather than on-spot systems. It is created and hosted, online using a cloud computing infrastructure that can be accessed remotely.
By organization size, the large enterprises segment contributed to more than three-fourths of the global intelligent document processing market revenue in 2021, holding the major share. The same segment is also anticipated to grow at the fastest CAGR of 22.3% during the forecast period. Large enterprises can be stated as organizations that have an employee strength of more than 1,000. Such enterprises include an increased number of skilled people with high privacy and data security issues. These enterprises can often manage huge transmission data on platforms with well-equipped and maintained connected infrastructure.
By component, the solution segment held the major share in 2021, accounting for more than two-thirds of the global intelligent document processing market revenue. The same segment would also cite the fastest CAGR of 22.2% during the forecast period. This is because the solution segment allows organizations to control, manage, and execute their business operations efficiently and support commercial and customer-oriented activities in various sectors.
Access the full summary at: https://www.alliedmarketresearch.com/intelligent-document-processing-market-A31732
By region, North America generated the major share in 2021, holding nearly two-fifths of the global intelligent document processing market revenue. Being one of the early adopters and inventors of advanced technologies and solutions North America has emerged as one of the highest technology adopters. The Asia-Pacific region, simultaneously, is projected to portray the fastest CAGR of 23.0% during the forecast period. This is because intelligent service providers are actively participating in the promotion of electronic records and advanced document processing solutions.
Covid-19 scenario
Increase in usage of online network connectivity and rise in online purchases of essential goods gave way to a significant surge in demand for connectivity intelligence and intelligent document processing solutions, thus impacting the global intelligent document processing market positively. This drift is likely to sustain even after the pandemic is gone.
The key players profiled in the report include ABBYY Solutions Ltd., Datamatics Technologies Ltd., Deloitte Touche Tohmatsu Limited, HCL Technologies Limited, Hyland Software, Inc., Infrrd Inc., International Business Machines Corporation, Kodak Alaris (Eastman Kodak Company), Kofax Inc., WorkFusion, Inc. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the intelligent document processing market.
Buy Now & Get Up to 50% off on This Report: https://www.alliedmarketresearch.com/intelligent-document-processing-market/purchase-options
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Intelligent Document Processing Market Size Is Likely To Reach a Valuation of Around $7.4 Billion by 2031 here
News-ID: 3673573 • Views: …
More Releases from Allied Market Research
Vinyl Wallpaper Market is likely to grow at a CAGR of 3.3% through 2031, reachin …
The Vinyl Wallpaper Market Size was valued at $943.30 million in 2021, and is estimated to reach $1.3 billion by 2031, growing at a CAGR of 3.3% from 2022 to 2031.
Request The Sample PDF Of This Report: https://www.alliedmarketresearch.com/request-sample/16970
Vinyl wallpaper consists of a carrier layer (recycled paper or non-woven wallpaper base) and a decorative layer made of polyvinyl chloride. A synthetic foam layer provides three-dimensional structures to…
Bamboo Clothing Market to Observe Highest Growth of USD 3 Billion with Growing C …
According to a new report published by Allied Market Research, titled, "Bamboo Clothing Market," The bamboo clothing market size was valued at $1.3 billion in 2022, and is estimated to reach $3 billion by 2032, growing at a CAGR of 9.1% from 2023 to 2032.
Request The Sample PDF Of This Report: https://www.alliedmarketresearch.com/request-sample/75312
Clothing created from bamboo fabric is referred to as bamboo clothing. The pulp of bamboo plants…
Tourism Source Market Size to Hit US$ 1.1 Trillion by 2032 at 6.6% CAGR
The Tourism Source Market Size was valued at $599.40 billion in 2022, and is estimated to reach $1.1 Trillion by 2032, growing at a CAGR of 6.6% from 2023 to 2032.
Request The Sample PDF Of This Report: https://www.alliedmarketresearch.com/request-sample/6807
Traveling to other locations for pleasure, recreation, or business is referred to as tourism. It entails travelling to and taking in a variety of locations, points of interest, and cultural…
Application Delivery Controllers (ADC) Market Size, Share, Growth, Overview, Pri …
The application delivery controllers (adc) market was valued at $2.3 billion in 2020, and is estimated to reach $12.8 billion by 2030, growing at a CAGR of 19.1% from 2021 to 2030.
The ADC market size drastically changed, due to trends such as work from home, online communication among business units, and threats of cyber-attacks in the pandemic period.
Request Sample Report: https://www.alliedmarketresearch.com/request-sample/4078
The demand for ADCs is driven by the emerging need…
More Releases for CAGR
Cat Litter Box Market | CAGR of 9.1% | Revenue & CAGR of 9.1%
Cat Litter Box Market Report provides precise data about the market size, commercialization aspects and revenue forecast of the industry. The global Cat Litter Box market offers a historical factsheet relevant to the strategic mergers, acquirements, joint venture activities, and partnerships spread in the Cat Litter Box market. The most advanced data has been presented in the study on the revenue numbers, product details, and sales of the major firms.…
Predictive Analytics Market Growing at Strong CAGR of CAGR of 25.31% 2019
Predictive analytics helps to extract information from the existing data. It helps in understanding the pattern and predict the trend or future for the organization. It uses what-if scenarios to predict possible risks involved in the future. Predictive analytics also helps in the optimization of the marketing campaigns and understanding of the customer behaviour for increasing the end-user response and to reduce the churn.
Predictive analytics is segmented into:
Risk management:…
Global Absorption Chillers Market Reflecting a CAGR of 7.6% CAGR through 2025
The demand for thermally-driven chillers in multiple industrial verticals is poised to grow in the immediate future. Considering the rising demand for electrical chillers in commercial, residential as well as industrial settings, the adoption of absorption chillers will gain traction at considerable rate. By consuming lesser energy than conventional electrical chillers, absorption chillers will also garner surplus demand for not using ozone-depleting chlorofluorocarbons (CFC) for chilling purposes. Persistence Market Research’s…
Aircraft Sensors Market Growing at a CAGR of 6.4% CAGR By 2022
The global aircraft sensors market is forecasted to receive a strong push in its growth momentum on the back of advancements in technologies, massive investments forwarded by private equity groups, and the elevation in the demand for aircraft. Adherence to the requirements and regulations of authorities such as local aircraft regulatory bodies and the Federal Aviation Administration (FAA) could pamper the growth of the market. Nonetheless, there could be more…
China Baby Diapers Market Reflecting a CAGR of 19.1% CAGR 2012-2017
The increasing birth rate in China has proven to be a boon for the country’s baby diaper’s market. To provide a comprehensive analysis of the growth trajectory exhibited by the China baby diapers market and study the impact of the dynamic regulatory policies on the market, Transparency Market Research (TMR) has published a report, titled “Baby Diapers Market - China Industry Analysis, Market Size, Share, Growth, Trends And Forecast, 2012…
Ecg Device Market Register a CAGR Growth of 4.1% CAGR by 2024
This region holds highest market share over the forecast period (2016-2024) and is expected to exhibit slow growth rate. The Asia Pacific is expected to be the fastest-growing region for ECG devices owing to its increasing incidence rate of cardiovascular diseases and high population.
ECG devices are experiencing a paradigm technological shift from resting ECG systems to portable Holter monitoring systems, owing to their advantages of patient mobility, low prices and…
