Data is the new crude they said, and it has turned out exactly the way it was predicted. Today majority of industries have to deal with loads of data in order to ensure streamlined processes. This is why they are turning towards newer solutions that help them deal with massive amounts of data. In order to understand the intelligent document processing, the process of intelligent document management needs to understand. This smart management of documents basically is the process that brings in use many technologies like artificial intelligence (AI) and machine learning (ML) to identify documents, develop any product. Meanwhile, the intelligent document processing (IDP) mainly is process that turns data that is unstructured or even semi-structured in segregated form. The unstructured or semi-structured data can be easily made usable. Which is turning into usable information and also automating the document-centric business processes. The intelligent document processing (IDP) has proven a boon for all those have to deal with loads of data. The global intelligent document processing (IDP) market is taking huge steps on the path of progress owing to numerous factors.

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The global intelligent document processing (IDP) market was successful in generating huge amounts of revenue in the period of the COVID-19 pandemic. Majority of business, especially those in healthcare sector had to deal with massive amounts of unstructured.

One of the biggest factor that has been driving the growth of the global intelligent document processing (IDP) market is need for solutions that reduce the burden from the humans when it comes to work on data that is unstructured. Rising concerns related to privacy and data breach, especially when used any technology like artificial intelligence that completely work with the help of internet. This will play a huge restraining factor in the growth of the global intelligent document processing (IDP) market. Meanwhile, the global intelligent document processing (IDP) market is forecasted to see huge growth over the period of next few years, due to growing need for solutions that deal with data.

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Key Takeaways – Global Intelligent Document Processing (IDP) Market:

  • On the basis of offering, the services segment will be minting money at the fastest rate for the global intelligent document processing (IDP) market over the period of next several years.
  • The small and medium sized enterprises will emerge as fastest revenue generating segment for the global intelligent document processing (IDP) market.
  • The region of Asia Pacific is expected to make most of money for the global intelligent document processing (IDP) market at the fastest rate. Rising number of business in every sector that deal with data will help the market grow.

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Some of the major players operating in the global intelligent document processing (IDP) market are listed below:

  • Accenture
  • AntWorks
  • BBYY Automation Anywhere, Inc.
  • BIS, Inc
  • Datamatics Global Services Limited
  • EdgeVerve Systems Limited
  • Ephesoft Inc.
  • Grooper
  • Hyper Labs, Inc.
  • Infrrd Inc.
  • KOFAX INC.
  • Neutrino Tech Systems
  • Parascript
  • Rossum InData Labs
  • Other Market Participants

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Global Intelligent Document Processing (IDP) Market 

By Technology

  • Computer Vision
    • Pose Estimation
    • Face Recognition
    • Logo Detection
    • Visual Search
    • Others
  • Optical Character Recognition (OCR)
  • Natural Language Processing (NLP)
  • Machine/ Deep Learning
  • Combination
  • Others

By Offering                            

  • Solutions
    • Platform Based
    • Package Based
    • IDP as a Service
  • Services

By Function                           

  • Back Office
  • Front Office
  • Human Resource
  • Finance and Accounting
  • Sales
  • Others

By Role

  • Business User
  • IT Manager
  • Others

By Application                       

  • KYC (Know-Your-Customer) Verification
  • Requirements Management
  • Invoice Processing
  • Insurance Claims
  • Customer & Institutional Onboarding
  • Operational Performance
  • Governance
  • Risk and Compliance
  • Logistics and Supply Chain
  • Patient Records
  • Mortgage Processing
  • Legal Documents
  • Connected Claims
  • Others

By Organization Size            

  • Small and Medium Sized Enterprises
  • Large Enterprises

By Vertical                             

  • Banking, Financial Services and Insurance
  • Automotive & manufacturing
  • Education
  • Energy & Utilities
  • Government
  • Healthcare Providers and Payers
  • Life Science and Pharma
  • Retail and Trade
  • Telecom & Media
  • Transportation
  • Others

By Region

  • North America (U.S., Canada, Mexico, Rest of North America)
  • Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
  • Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
  • Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
  • Latin America (Brazil, Argentina, Rest of Latin America)

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