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Over $8 trillion, intelligent document processing market size at

New York, Oct. 12, 2022 (GLOBE NEWSWIRE) — The Insight Partners has released the latest research study on “Intelligent Document Processing Market Size, Share, Growth, Industry Trends and Forecasts to 2028”, the global intelligent document processing market size is expected to increase from USD 1,022.73 million in 2021 to USD 8,045.81 million by 2028, with an estimated CAGR of 34.6% from 2022 to 2028.

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Global Intelligent Document Processing Market Report Scope, Segmentations, Regional and Country Scope:

Market size Value in $1,022.7 million in 2021
Market Size Value by $8,045.81 million by 2028
Rate of growth CAGR of 34.6% from 2022 to 2028
Forecast period 2022-2028
Year of reference 2021
Number of pages 150
Historical data available Yes
Segments Covered Component Organization Size Deployment Technology Sector Vertical and Geography
Regional scope North America; Europe; Asia Pacific; Latin America; AEM
Country scope United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report cover Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends
Key Research Capabilities Global market assessment, business development strategies, competitive landscape, opportunity analysis, regional and country level market analysis, market entry strategies, market dynamics, risk and reward assessments, price analysis, size and Market Forecasts, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development
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Global Intelligent Document Processing Market: Competitive Landscape

ABBYY; IBM Corp; Kofax Inc.; Datamatics Global Services Limited; Appian; WorkFusion, Inc.; Parascript; Open Text Corporation; Hyland Software, Inc.; and Extract Systems are some of the leading Intelligent Document Processing market players profiled during the Intelligent Document Processing market study. Several other major companies have been researched and analyzed during this research study to get a holistic view of the Intelligent Document Processing market and its ecosystem.

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Companies in the intelligent document processing market offer different products for different types of document processing. These products help streamline the flow of documents and data, which helps ensure quick decision-making. For example, in the retail industry, these products deliver measurable and consistent business value to processes such as customer correspondence and complaints, order processing, and accounts payable. The document processing platform reads unstructured documents, redacting or extracting the information the client needs, and routes the data to the final destination. Document processing offered by companies in the market reduces time spent manually, reduces human error typically caused by manual data entry, and provides quick access to valuable discrete data that customers can compare, share, report, and analyze. thus contributing to the growing intelligence of the document processing market.

The growing demand for information extraction from unstructured data is catalyzing the growth of the intelligent document processing market. Awareness of the benefits of intelligent document processing solutions is highest among large companies, which generate huge amounts of data on a daily basis. These large companies are investing substantial sums in improving respective business processes and optimizing business efficiency. Thus, the demand for smart document processing solutions among major companies is constantly increasing, which enables the smart document processing market players to witness growth in their respective sales, ultimately driving the smart document processing market .

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Most enterprise data in recent years is unstructured, and end users face significant challenges in gathering meaningful insights from the data. Data is represented in various modules, including documents, emails, spreadsheets, audio and visual content, presentations, images, and web searches. In order to get maximum insights from unstructured data, several end users or industries are opting for intelligent document processing solutions, which enables them to extract important insights.

In the smart document processing market, end-use industries such as BFSI and manufacturing, and government – ​​across different regions have attributed to the popularity of the solution. For example, the strong presence of manufacturing and BFSI sectors in China and India has resulted in a significant demand for robust and efficient document processing tools in recent years. North America holds the highest share in the intelligent document processing market as most of the businesses in the region have already shifted to digital transformation to effectively compete in the global intelligent document processing market.

Additionally, several other countries are increasingly adopting digital transformation technology to compete in the global market and increase revenue growth. Additionally, the demand for document processing solutions is expected to rise over the forecast period, driven by the need for automated operations of manufacturing industries in several emerging APAC economies, contributing to the growth of the intelligent processing market documents in the region.

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