These technologies enable IDP platforms to learn from data patterns, continuously improve accuracy, and adapt to evolving document structures.

AUSTIN, TEXAS, UNITED STATES, June 6, 2024 /EINPresswire.com/ -- Intelligent Document Processing Market size was valued at USD 1.38 billion in 2022 and is expected to grow to USD 11.34 billion By 2030 and grow at a CAGR of 30.12 % over the forecast period of 2023-2030.

Intelligent Document Processing (IDP) market is experiencing rapid growth due to the increasing demand for automation solutions across various industries. IDP technology enables organizations to streamline their document-centric processes by automating data extraction, classification, and validation tasks. This not only enhances operational efficiency but also reduces manual errors, leading to cost savings and improved decision-making. With advancements in artificial intelligence and machine learning algorithms, IDP solutions are becoming more sophisticated, capable of handling unstructured data from diverse sources such as emails, PDFs, images, and handwritten documents. Moreover, the integration of IDP with other technologies like robotic process automation (RPA) and natural language processing (NLP) further augments its capabilities, enabling organizations to achieve end-to-end automation of complex business processes.

Another notable trend in the Intelligent Document Processing market is the increasing adoption of cloud-based solutions. Cloud-based IDP offerings provide scalability, flexibility, and accessibility, allowing organizations to deploy and manage document processing capabilities more efficiently. .

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Covid 19 impact analysis:
The latest report is the most recent study that offers 360 coverage of the Intelligent Document Processing industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Intelligent Document Processing market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.

Major companies profiled in the market report include
Evolution AI (England), WorkFusion (US), IBM (US), Kofax (US), Automation Anywhere (US), Appian (US), UiPath (US), Datamatics (India), AntWorks (Singapore), Deloitte (England), ABBY (US), Ocrolus (US), Parascript (US), HyperScience (US), OpenText (Canada), BIS (US), Hyland (US), Extract Systems (US), Infrrd (US), Hive (California), Celaton (UK), HCL Technologies (India), Kodak Alaris (UK), Rossum (UK), InData Labs (Belarus), Ephesoft (US), IRIS (Europe), AmyGB (India), Acodis (Switzerland), Hypatos (Germany), IND (Singapore), and others

Research objectives:
The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing. The report’s insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in the Intelligent Document Processing market.

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It has segmented the global Intelligent Document Processing market
By Component
Solution
Services

By Deployment
Cloud
On-premise

By Organization Size
Small and Medium Sized Enterprises (SMEs)
Large Size Enterprises

By Technology
Machine Learning
Natural Language Processing (NLP)
Computer Vision

By End-use
BFSI
Healthcare
Manufacturing
Retail
Government & Public Sector
Transportation & Logistics
IT & Telecom
Others

Key Objectives of the Global Intelligent Document Processing Market Report:
The report conducts a comparative assessment of the leading market players participating in the global Intelligent Document Processing market.
The report marks the notable developments that have recently taken place in the Intelligent Document Processing industry
It details on the strategic initiatives undertaken by the market competitors for business expansion.
It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Intelligent Document Processing market value chain.
The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market

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