Intelligent Document Processing Market Trends

Growth Drivers

Rising Need for Improving Customer Satisfaction– It is estimated that organizations are incorporating newer technologies such as AI, Machine Learning ML to deliver the best experience to customers and gain a competitive advantage. The first factor in a better experience includes real-time updates which can be attained by using document outsourcing services.

It was estimated that 45 to 50% of organizations around the globe will adopt AI and ML into their processing system in 2023.

Growing Digital Transformation- Rapid digitalization has shifted businesses towards paperless and digital workflows. This has significantly driven market growth. Intelligent document processing helps in managing documents within digital systems.

By the end of 2022, it is anticipated that global spending on digital transformation would increase by over USD 1 trillion.

Challenges

Ever Changing Governance and Compliance Standards– The regulations and government compliance standards for document processing are becoming stricter which is leading to disruptions in workflow as automated workflows need to be reset on account of this change.
Lack of Skilled Professionals
Underestimating the Efficiency of Intelligent Document Processing Solutions

Intelligent Document Processing Market: Key Insights

Base Year	2024
Forecast Year	2025-2037
CAGR	31.4%
Base Year Market Size (2024)	USD 2.28 billion
Forecast Year Market Size (2037)	USD 66 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of intelligent document processing is estimated at USD 2.86 billion.

The intelligent document processing market size was over USD 2.28 billion in 2024 and is projected to cross USD 66 billion by the end of 2037, growing at more than 31.4% CAGR during the forecast period i.e., between 2025-2037. The rising need for enterprises to process large volumes of structured and unstructured documents with utmost accuracy and the rise in the adoption of advanced technologies will boost the market growth.

Asia Pacific industry share is estimated to reach 24% by 2037, led by increasing investments in the digital transformation sector in the region.

The major players in the market include ABBYY, Automation Anywhere, Inc., Kofax Inc., WorkFusion, Inc., UiPath, IBM, Appian, HCL Technologies Ltd., HYPERSCIENCE, AntWork.

Intelligent Document Processing Market Trends