The growing need for AI-powered document processing to enhance business efficiency and reduce manual errors is fueling market expansion.

AUSTIN, TX, UNITED STATES, February 6, 2025 /EINPresswire.com/ -- The SNS Insider report indicates that the Intelligent Document Processing Market size was valued at USD 1.8 billion in 2023 and is projected to reach USD 19.5 billion by 2032, expanding at a CAGR of 30.21% over the forecast period of 2024-2032.

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Keyplayers:
UiPath, Datamatics, AntWorks, Deloitte, ABBY, WorkFusion, IBM, Kofax, Automation Anywhere, Appian, Ocrolus, Parascript, HyperScience, OpenText, BIS, Hyland, Extract Systems, Infrrd, Hive, Celaton, HCL Technologies

As digital transformation accelerates, the large-scale adoption of Artificial Intelligence, and Machine Learning in document automation is driving the growth of the intelligent document processing market. IDP solutions are being used by businesses across various industries such as banking, healthcare, legal, and government to automate data extraction, processing, and analysis. The demand for real-time document processing capabilities, high levels of precision, and lower operational costs are the factors that drive adoption. At the same time, compliance requirements and the necessity for data security are compelling enterprises to adopt AI-integrated document management systems. Several other innovations, such as natural language processing, optical character recognition, and RPA, continue to spur growth in the market.

By Component, Solutions Dominate and Services Register Fastest Growth in 2023
The Solutions segment is expected to dominate the market due to the increasing penetration of AI-based document-processing software in enterprises. IDP solutions have gained great popularity among organizations to automate complex workflows, save time in processing, and comply with rules regarding data privacy and security.

By Organization Size, Large Enterprises Lead and SMEs Experience Fastest Growth
Due to the scale of document processing and regulatory compliance requirements, Large Enterprises dominate the IDP market. IDP solutions help large organizations in automating high-volume document workflows thereby improving efficiency and reducing costs. AI and big data analytics incorporated into IDP platforms give these enterprises a means of distilling wisdom from unstructured data, providing innovation and competitive advantage.

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Intelligent Document Processing Market Regional Landscape, North America's Dominance, and Asia-Pacific's Rapid Growth
North America dominated the market and accounted for a revenue share of more than 40%, Due to the High Adoption of Ai And Automation Technologies, Stringent Data Compliance Regulations, and boosting enterprise investments in Digital Transformation.

Asia-Pacific, on the other hand, is expected to achieve the fastest CAGR throughout the forecast period. Growing digitalization, increasing adoption of AI-powered automation, and a rise in demand for cost-effective cloud base IDP solutions are driving the region.

Recent Developments
January 2024, ABBYY introduced an AI-driven document intelligence platform designed to enhance document processing speed and accuracy across industries.
February 2024, Kofax launched an enhanced RPA-powered document processing suite, integrating deep learning for improved data extraction and analysis.

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