Intelligent Document Processing Market Share

North American Market Forecast

Intelligent document processing market in North America is predicted to account for the largest share of about 35% by the end of 2037 impelled by expanding businesses and their need to automate internal operations. This, as a result, has generated a larger volume of documents which has necessitated the need for intelligent document processing to handle the growing workload in the region.

Moreover, automating internal operation business in the region has reduced the need for manual data entry which has improved the overall productivity and increased the focus on higher-value activities. In 2022, foreign direct investors spent over USD 175 billion on purchasing, establishing, or growing enterprises in the United States.

APAC Market Statistics

The Asia Pacific Intelligent Document Processing market is estimated to hold the second largest of about 24%, during the forecast timeframe led by increasing investments in the digital transformation sector. The acceleration of India's digital revolution can be attributed to the rise in private sector investments, and the country’s growing digital infrastructure is being used by several sectors, including health, education, retail, and financial services owing to which these industries are moving away from paper-based processes. This as a result is creating huge demand for intelligent document processing solutions in the region.

For instance, research cites that digital transformation spending in the Asia Pacific is forecast to reach USD 540 billion by 2024, making a growth of about 18% from 2022.