Recently, Global Insight Services (GIS), a leading market research firm, published their report Intelligent Document Processing Market Trend 2022: Industry Upcoming Developments, Global Economics, Market Dynamics, Size, Share, Emerging Trends, Business Strategies of Top Key Players, Revenue Forecast 2031.
In it, GIS discusses how the Intelligent Document Processing (IDP) market is structured and which key trends and key drivers are defining it.
In addition, GIS addresses various challenges, key market segments, and the impact and disruption of recent global events in its report.
Key trends in the IDP market:
- Less paper, more digital: digital document processing solutions are at the center for the enterprise of the future. IDP delivers efficiency, accuracy and speed.
- AI is becoming more sophisticated: AI technologies continue to improve, enabling accurate automated data entry and document classification.
- Cloud-based solutions are becoming more popular: ease of scalability and high flexibility are central to this trend.
- Mobile solutions are necessary: Document processing solutions must be accessible from anywhere today.
Key drivers for the IDP market:
- Automation of document-based processes is becoming a necessity for the enterprise of today and the future.
- Unlike a few years ago, IDP is now also becoming affordable for small and medium sized businesses.
- Compliance requirements are increasing. IDP helps businesses meet those regulations and requirements.
- Cloud-based IDP solutions is a key driver of the IDP market due to flexibility and the ease of scalability.
Constraints and Challenges:
IDP is still a relatively new term. This leads to a lack of awareness of the possibilities and benefits with Intelligent Document Processing, especially in small and medium-sized enterprises. Furthermore, GIS identifies the lack of a qualified workforce to operate and manage these solutions as another challenge.
Key market segments:
Component: Solutions and services
Deployment mode: Cloud oder on-premises
Organization size: Large enterprises and small & medium enterprises
Technology: Machine learning, AI, deep learning, and others
Region: North America, Europe, Asia-Pacific, and rest of the World
Further questions (among others) answered in the report:
- What’s the competitive landscape and positioning of players in the IDP market?
- How is the IDP market growing during the forecast period from 2022 to 2031, in terms of value?
- What is the impact on the IDP market of recent market disruptions such as the war between Russia and Ukraine and Covid-19?
The full Intelligent Document Processing Market Trend Trend 2022 from Global Insight Services can be found here.
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