Quadrant Knowledge Solutions characterizes Intelligent Document Processing (IDP) as the automated extraction of valuable information from documents received by organizations, spanning structured, semi-structured, and unstructured formats. IDP leverages diverse technologies such as Artificial Intelligence (AI), Machine Learning (ML), Optical Character Recognition (OCR), Computer Vision, Robotic Process Automation (RPA), Natural Language Technology (NLT), and Intelligent Character Recognition (ICR) to extract, interpret, and classify relevant data from various sources like word files, emails, PDFs, scanned documents, and more, facilitating analysis and workflow automation.
The utilization of Cloud Storage is increasingly prevalent in automated document processing to securely store and retrieve processed data from anywhere, catering to remote teams and businesses with multiple locations. Additionally, cloud service providers offer features like automated backups and version control, streamlining document management and collaboration.
This study aims to address the following key questions:
- Is the Intelligent Document Processing (IDP) market witnessing growth?
- What are the short-term and long-term growth prospects for the Intelligent Document Processing (IDP) market?
- What are the primary drivers and inhibitors influencing the global Intelligent Document Processing (IDP) market?
- Which industries are the major end-users of Intelligent Document Processing (IDP) solutions, and which offer the most significant growth opportunities during the forecast period?
- Which global regions present the most promising growth opportunities in the Intelligent Document Processing (IDP) market?
Vendors covered in this study:
ABBYY, Alkymi, AntWorks, Appian, Automation Anywhere, Celaton, Code mantra, Datamatics, Edge Verve System, eigen Technology, Grooper (BIS), HCL Technologies, IBM, Indico Data, Infrrd, JIFFY.ai, Knowledge Lake, Kofax, Laiye, Microsoft, OpenBots, Parascript, Parashift, qBotica, Rossum, Stravie, UiPath, UST, and Work fusion.
Some users may seek vendors providing blockchain integration for enhanced security, ensuring an immutable and decentralized ledger to track a document's lifecycle from creation to distribution, thereby bolstering its tamper-proof nature.
