Deep Analysis are pleased to publish our Intelligent Document Processing Market Analysis and Forecast 2022-2026.
Intelligent document processing (IDP) software is an essential component of digital transformation projects. For most of the 21st century, the IDP market was a slow-growth, low-innovation market dominated by a handful of vendors. But during the last five years, advancements in AI computing coupled with the low cost of market entry have led to an explosion of new companies disrupting the market.
With hundreds of vendors now to choose from, buyers face a difficult and confusing choice. Marketing hyperbole about reputed ease of use, low costs, and a face-off between cloud and on-premises systems only adds to the confusion. To stand out from the crowded field, IDP vendors must differentiate their products or miss out on the strong growth to come.
In this new report, we do our best to bring some order to the market chaos. We examine the composition of the IDP market, forecast its size and growth, and list factors contributing to its historical and future growth. We offer advice for companies looking to buy IDP software, including summaries of vendor companies we find particularly innovative. We also provide valuable insight for vendors on the current competitive landscape and the changes to come. We also including summaries of vendor companies we find to be particularly innovative and well worth a closer look from buyers.
Here are a few of the key takeaways and questions raised:
- Deep Analysis calculates the IDP market at just over $2 billion in 2022. We forecast that it could reach $4 billion by the end of 2026. How will a possible global recession affect that?
- There are now over 400 vendors making something IDP-related. The vast majority make the same claims. How can IDP buyers begin to select the right one to fit their needs?
- The market has been flooded with investment and cash-rich IDP startups are spending big on sales and marketing. Is that a good thing for buyers? How can less well-funded IDP vendors survive and even thrive?
If you’re a IDP buyer, investor, or vendor, you’ll want to read this. Here are three reasons we think it can help your business:
- The Authors. Dan Lucarini managed and sold IDP products for leaders Kofax, OpenText, and IBML. Alan Pelz-Sharpe is widely acknowledged as a process automation and AI expert & thought leader. We know IDP.
- The Insight. We’ve talked to hundreds of users, vendors and investors. The result? Unique, in-depth & honest strategic and competititive advice not to be found in other IDP reports.
- The Method. It’s 100% free of vendor-influenced quadrants, peaks, zones, waves, etc. Just the facts about IDP products, market size, trends, and innovators; you decide.
To purchase the full report, or to download the cool infographic, please click on this link.
https://www.deep-analysis.net/intelligent-document-processing-market-analysis-2022-2026/