Intelligent Document Processing Market Segmentation:
Component Segment Analysis
The solution segment is set to account for the highest revenue share of 63.4% by the end of 2035, owing to growing demand in organizations to automate document-intensive processes with the motive of enabling increased process efficiency and cost savings. Regulatory support for businesses to delve into digital transformation is also influencing the adoption of different IDP solutions integrated with technologies, such as natural language processing (NLP), ML, AI, and others. In September 2024, the U.S. Department of State disclosed that in 2023, the government announced a funding of USD 15 trillion in foreign assistance at the 78th Session of the UN General Assembly with the motive of constructing the capacity of developing and governing AI in ways that can boost progress towards the achievement of sustainable development goals. The integration of IDP solutions in organizations can significantly reduce paper consumption.
Technology Segment Analysis
The machine learning segment is anticipated to account for a remarkable market share during the stipulated study period, owing to its capacity to enable data extraction precisely, ensure proper data validation, and reduce errors. With rapid internet penetration, the volume of unstructured data is increasing on the cloud, influencing the need for intelligent tools like ML that can process and extract data efficiently. As reported by the World Bank, 64% of the global population used the internet in 2024. The capability of ML to work in conjunction with natural language processing is also expected to influence the dominance of the segment in document processing.
Deployment Segment Analysis
The cloud deployment segment is projected to hold a significant market share by 2035, due to the practical benefits cloud systems offer, especially in terms of flexibility and long-term savings. The adoption of cloud services is also fast-paced in the government sector, influencing cloud deployment of intelligence document processing for administrative purposes. As reported by the India Equity Brand Foundation in January 2024, cloud services are being adopted in government organizations frequently with the intent of enhancing service delivery, advancing data-driven governance, and reducing expenses.
Our in-depth analysis of the global intelligent document processing market includes the following segments:
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