Introducing the Deep Analysis IDP Vendor Database

last updated:

Introducing the Deep Analysis IDP Vendor Database

last updated:

With 344 IDP products and counting, the IDP industry was in dire need of organizing and tracking. So we created a comprehensive database and we reveal the key takeaways from the data.

(Updated August 16, 2023 with more vendors)

In our coverage of unstructured data management and process automation, true to our name we dive much “deeper” than the mainstream industry analysts. Take the intelligent document processing (IDP) market as an example. Where other analysts might list the same 25 or 35 IDP software vendors in their magic-wave-peak-scape-zone rankings, Deep Analysis has dug in and done the hard research. Today we confirm there are now at least 344 bonafide companies who sell some form of IDP. 
Why does that matter? Firstly because this is historic. IDP software is no longer the small specialty niche of 25 to 35 vendors languishing for 30 years in the shadow of other B2B software. In what I have already dubbed the Cambrian explosion of deep learning, 90% of today’s IDP products have appeared since 2011. And over 70% of those launched since 2017, soon after Google’s famed transformer breakthrough. 
To begin to make sense of it all for current and future IDP end users and investors, we knew it was time for a comprehensive IDP vendor database. So we created it and are pleased to offer new advisory services based on this rich data. 

The Key Takeaways

Global. At least 38 countries now have at least one home-grown IDP vendor. The USA leads with 50% of all vendor headquarters, followed by India at 10%, and the UK at 7%. What’s especially fascinating to us are the vendors coming out of Asia and Eastern Europe. 

Funding-worthy. We tracked at least $2 billion raised to date with 90% of that in the past 5 years alone. Pretty impressive for a $2 billion market. But the recent interest is not surprising because AI is at the heart of IDP. The database includes a list of vendors with their respective funding.

Everywhere. We found 67 companies that have embedded IDP functionality inside their  B2B application. Top examples are accounts payable, contract lifecycle management, supply chain management, property management, and mortgage loan origination. Now with the plethora of new LLM-powered DocAI tools available to developers, we expect IDP to show up soon in many more applications. 

Diverse. We have moved far beyond the classic “capture” use cases such as forms processing, scan to archive, and invoice processing. Deep learning models dramatically increased our ability to automate the processing of vastly more semi-structured and unstructured documents. Today’s diverse use cases include know-your-customer (KYC), contracts, investment documents, logistics paperwork, receipts, invoices with variable layouts and complex tables, and many more.

Respectable. The Big Data industrial complex has long overlooked IDP. No more. There’s a scramble to create data lakehouses from document data. IDP is the technology of choice and has become a key function in several data analytics and business intelligence platforms.

In future Notes, we will discuss more on the IDP market movers, trends, and drivers. 

How can this data help you?

Now you may be thinking, I’ll just use ChatGPT or another LLM, and get this myself. Don’t waste your time. We tried that already. The tools were only slightly better than an old-fashioned Google or Bing Search, and produced so many false positives we soon tired of correcting. 

If you want accurate and expert analysis, Deep Analysis offers advisory services based on this research. 

  • For end-users: expert advice on vendor short-listing and comparisons.
  • For investors or companies looking to acquire: the most comprehensive picture of the IDP landscape with unique insight into company comparables. 
  • For vendors and their channels: competitive intelligence consulting and workshops, go-to-market strategy workshops, keynote speakers, thought leadership content.  

Engagements can range from a short consultation to in-depth projects. We’re also offering an annual subscription to our paid research. To learn how to engage Deep Analysis, please contact us


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