Announcing the 2024 IDP Market Report

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IDP Report

Announcing the 2024 IDP Market Report

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last updated:

IDP market size to double by 2027 as Generative AI dramatically expands the use cases

Deep Analysis are pleased to publish our 2024 Intelligent Document Processing Market Analysis and Four Year Forecast. Click here to purchase your copy. 

Intelligent document processing (IDP) software is powered by AI and is used to automate document processing by assisting – or even replacing – human work. Deep Analysis calculates the IDP software market size at $3 billion at the end of 2023, and we forecast that it will surpass $6 billion by the end of 2027.

With generative AI for IDP at the very early stage entering 2024, the market has yet to see a revenue boost from this transformative technology. We are boldly predicting that if generative AI can fulfill its potential to put IDP onto every computer and smartphone, the use cases will expand exponentially and the market could grow to over $20 billion by 2033.

In this 50 page report, we look at the composition of the IDP software market, forecast its size and growth, and list the factors contributing to its historical and future growth. A special section is devoted to our research findings on generative AI and its disruptive impact on IDP. We also provide unique and valuable insight for vendors, including key findings from our November/ December 2023 survey of the top companies about revenue growth and forecasts, their top challenges, and their adoption of generative AI. Deep Analysis researched over 350 companies for this report. 

On the other side of the equation, we offer advice for companies looking to buy IDP software, including summaries of vendor companies we find particularly innovative. We also include our choices for the 2023 IDP Innovation awards and Ones to Watch Innovators for 2024. Here is a list of the companies who earned special recognition.

2023 Innovator Awards

     Innovator of the Year: Instabase
     Rising Star Award: UiPath
     Rookie of the Year: OpenAI
     Market Focus Award: Ocrolus
     Startup of the Year: Automat

2024 Ones to Watch

     AntWorks
     Attestiv
     Automat
     AYR
     Eigen Technologies
     Evolution AI
     Hyperscience
     IDverse (formerly OCR Labs)
     Indico Data
     Instabase
     Mely.ai
     Microsoft
     Rossum
     TClab
     Tungsten Automation (Kofax)
     UiPath
     Unstructured.io
     Veryfi

How can I get a copy of the report?

Glad you asked! Get one in 5 minutes or less by clicking here

Vendors interested in using excerpts from the report for customer and investor education, demand generation, or PR purposes can also purchase a distribution license with rights to share the information outside their own company. Deep Analysis will create a customized document just for you. Contact us at [email protected] for a quote. 

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