Beyond Automation: Analysing the Evolution of Intelligent Document Processing (IDP)

 


The realm of Intelligent Document Processing has advanced from the amalgamation of fundamental optical character recognition (OCR) capabilities with matured artificial intelligence and machine learning (AI/ML) technologies. This evolution has led to the automation of complex tasks like recognizing handwriting, tables, and errors in documents, while simultaneously improving the quality of incoming data.

The automation of document processing, aligned with cutting-edge technologies, offers a multitude of advantages, including seamless integration with core processes, eradication of manual labor, adherence to compliance standards, and resolution of challenges associated with processing intricate documents.

 

Key inquiries addressed by this study:

1.       Is the Intelligent Document Processing (IDP) market expanding?

2.       What is the growth potential, both short-term and long-term, for the Intelligent Document Processing (IDP) market?

3.       What factors are driving market acceleration and what are the barriers impacting the global Intelligent Document Processing (IDP) market?

4.       Which industries are the primary users of Intelligent Document Processing (IDP) solutions? Which industries offer the greatest growth prospects in the forecast period?

5.       Which global regions present the most substantial growth opportunities in the Intelligent Document Processing (IDP) market?

6.       Which customer segments exhibit the highest adoption rates of Intelligent Document Processing (IDP) solutions?

7.       What are the various deployment alternatives for Intelligent Document Processing (IDP) solutions?

8.       What is the strategic direction of the market?

The adoption of novel technologies is fueling the growth of document automation, empowering organizations to streamline operations, reduce manual effort, enhance efficiency in operations and investments, elevate customer experiences, and mitigate risks stemming from human errors. Key automation trends in the realm of Intelligent Document Processing (IDP) encompass document and email parsing, recognition of handwritten content, hyper-automation, deep integration with AI/ML, touchless/low-touch document processing, and more.

While smaller vendors have been at the forefront of incorporating new technological advancements, the market envisions further progress in supporting use cases like invoice processing, insurance claim monitoring, medical record digitization, accounts payable management, and others. Platform providers are investing in rendering their platforms template-free, thereby enhancing their ability to process documents from diverse industries, regardless of document types. Furthermore, users are striving to automate extraction tasks by enhancing the platform's compatibility with handwritten documents and documents in various languages.

 

Table of Contents:

Chapter 01: Summary of Research

2023 Market Projection: Key Findings and Takeaways

Prominent Predictions

Chapter 02: Overview of the Market

Definition and Scope of the Market

Types of Revenue

Geographic Regions

Vertical Industries

Chapter 03: Analysis of Market Forecast

Factors Driving Market Growth and Inhibitors

Market Forecast for the Entire Market

Market Forecast Based on Deployment Type

·       Cloud Solutions

·       On-Premises Solutions

Market Forecast for Different Geographic Regions

·       Canada

·       Central & Eastern Europe

·       Japan

·       Latin America

·       Middle East & Africa

·       USA

·       Western Europe

·       Asia Ex-Japan China (AxJC)

·       China

Market Forecast for Different Industry Verticals

·       Banking and Financial Services

·       Electronics & Telecommunications

·       Retail and eCommerce

·       Professional Services

·       Healthcare and Life Sciences

·       Manufacturing

·       Media & Entertainment

·       Government and Public Sectors

·       Education

·       Energy & Utilities

              Others

Market Forecast for Different Customer Types

·       Small and Medium Businesses (SMB)

·       Large Enterprises

·       Enterprises

Chapter 04: Recommendations from Analysts

Insights and Advice from Analysts

Chapter 05: Supplemental Information

Research Methodologies

 

About Us: Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients in achieving business transformation goals with Strategic Business, and Growth Advisory Services. At Quadrant Knowledge Solutions, our vision is to become an integral part of our client’s business as a strategic knowledge partner.

Phone: (+1) 978-605-1066


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Contact: ajinkya@quadrant-solutions.com

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