The document analytics market size has grown exponentially in recent years. It will grow from $3.49 billion in 2024 to $5.16 billion in 2025 at a compound annual growth rate (CAGR) of 47.9%. The growth in the historic period can be attributed to shift to digital transformation, increased demand for compliance and regulatory adherence, need for operational efficiency, focus on customer experience and insights, industry-specific solutions.
The document analytics market size is expected to see exponential growth in the next few years. It will grow to $26.35 billion in 2029 at a compound annual growth rate (CAGR) of 50.3%. The growth in the forecast period can be attributed to increasing demand for predictive analytics from documents, emergence of hybrid models, evolving user experience and collaboration tools, rise in demand for workflow automation, focus on contextual understanding. Major trends in the forecast period include advanced natural language processing (NLP), ai-powered document processing, enhanced optical character recognition (OCR), focus on data security and privacy, integration with workflow automation.
The increasing focus on content digitization initiatives is a key factor driving the growth of the document analytics market. Governments worldwide are taking steps to digitize content to improve document security and accessibility, which in turn boosts the demand for document analytics. For instance, in November 2023, the Central Digital and Data Office, a UK-based governmental body that promotes digital innovation and data strategy, reported that digital transformation within the government could generate savings of over $1.17 billion by eliminating paper-based costs. By 2025, a competitive digital remuneration framework could save $122.12 million annually by reducing attrition rates and dependence on expensive labor. Additionally, the IRS piloted a program to test innovative solutions for processing digital versions of IRS documents, including scanning paper files and extracting machine-readable data. These digitization efforts are expected to drive the demand for document analytics technologies and services. Therefore, the growing initiatives to digitize content are likely to propel the growth of the document analytics market.
The surge in the volume of content being generated due to the prevalence of digitalization is expected to propel the growth of the document analytics market going forward. Data volume is the capacity to store and handle petabytes of natively stored and object-stored data with efficiency. Organizations are able to manage content and information securely throughout their lifecycle with the use of an document analytics solution. For instance, according to a Kommando Tech, a Czech Republic-based independent review site dedicated to providing accurate information about various tech-related products and services, in March 2022, 2. 5 quintillion bytes of data are produced by people every day. The last two years have seen the creation of around 90% of all data. Therefore, the surge in the volume of content being generated due to the prevalence of digitalization is driving the growth of the document analytics market.
Leading companies in the document analytics market are concentrating on developing advanced solutions like DocGraphLM to improve document processing capabilities using AI-driven insights. DocGraphLM is a sophisticated tool for visual document analysis that leverages state-of-the-art machine learning techniques to enhance the comprehension and handling of complex documents. For example, in January 2024, JPMorgan, a US-based financial services provider, introduced DocGraphLM, an AI model that enhances document analysis by integrating pre-trained language models with graph neural networks. This approach enables it to interpret complex documents, such as forms, invoices, and receipts, which often contain a combination of text, images, and structured data.
Major companies operating in the document analytics market are focusing on integrating artificial intelligence (AI) with document analytics technology for increasing the applications of documentary analytics such as legal documentation. AI-based document analytics is a technology that leverages artificial intelligence techniques to extract, analyze, and transform unstructured data from documents into structured data. For instance, in July 2022, Appara, a Canada-based document analytics and automation company, launched Appara Wills a new digital will and estate product. Appara Wills, designed for solicitors and estate planners, allows users with customers in British Columbia to execute completely customizable wills and estate documents paperless.
In August 2022, Snowflake a US-based cloud computing-based data cloud company acquired Applica for an undisclosed amount. The acquisition adds document analytics and document automation capabilities to Snowflake’s portfolio of offerings. Applica a Poland-based document analytics company.
Major companies operating in the document analytics market include ABBYY Group, Celaton Limited, Extract Systems LLC, HCL Technologies Limited, HyperScience Inc., Automation Anywhere Inc., International Business Machines Corporation, OpenText Corporation, Adobe Inc., SAP SE, Microsoft Corporation, Dexlock Technologies Private Limited, AntWorks Pte. Ltd., WorkFusion Inc., Infrrd Inc., Datamatics Global Services Limited, Kodak Alaris Inc., Hyland Software Inc., Parascript LLC, M-Files Corporation, Ephesoft Inc., Rossum Corporation, Nanonets Inc., Zoho Corporation Pvt. Ltd., UiPath Inc., Datafleck Ltd., DocuSign Inc.
Document analytics refers to the usage of natural language processing (NLP) to automate repetitive document processing operations or to obtain a better understanding of the documents' content. The document analytics enables users to track when and how much time is spent on each page of the document.
The main products of document analytics are solutions, services, professional services, and managed services. Solutions are used in advanced artificial intelligence and natural language processing. The traditional documentation was extremely time consuming, however, the document analytic solutions reduce time. These solutions and services are used in various business verticals, which includes BFSI, government, healthcare and life sciences, retail and eCommerce, manufacturing, transportation and logistics, and others. These solutions and services are installed in large enterprises, and small and medium-sized enterprises (SMEs) through cloud, and on-premise deployment routes.
The document analytics market research report is one of a series of new reports that provides document analytics market statistics, including Document analytics industry global market size, regional shares, competitors with a document analytics market share, detailed document analytics market segments, market trends and opportunities, and any further data you may need to thrive in the document analytics industry. This document analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
North America was the largest region in the document analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the document analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the document analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The document analytics market includes revenues earned by entities by providing analytics services for analyzing documentary evidence and answering specific research questions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The document analytics market size is expected to see exponential growth in the next few years. It will grow to $26.35 billion in 2029 at a compound annual growth rate (CAGR) of 50.3%. The growth in the forecast period can be attributed to increasing demand for predictive analytics from documents, emergence of hybrid models, evolving user experience and collaboration tools, rise in demand for workflow automation, focus on contextual understanding. Major trends in the forecast period include advanced natural language processing (NLP), ai-powered document processing, enhanced optical character recognition (OCR), focus on data security and privacy, integration with workflow automation.
The increasing focus on content digitization initiatives is a key factor driving the growth of the document analytics market. Governments worldwide are taking steps to digitize content to improve document security and accessibility, which in turn boosts the demand for document analytics. For instance, in November 2023, the Central Digital and Data Office, a UK-based governmental body that promotes digital innovation and data strategy, reported that digital transformation within the government could generate savings of over $1.17 billion by eliminating paper-based costs. By 2025, a competitive digital remuneration framework could save $122.12 million annually by reducing attrition rates and dependence on expensive labor. Additionally, the IRS piloted a program to test innovative solutions for processing digital versions of IRS documents, including scanning paper files and extracting machine-readable data. These digitization efforts are expected to drive the demand for document analytics technologies and services. Therefore, the growing initiatives to digitize content are likely to propel the growth of the document analytics market.
The surge in the volume of content being generated due to the prevalence of digitalization is expected to propel the growth of the document analytics market going forward. Data volume is the capacity to store and handle petabytes of natively stored and object-stored data with efficiency. Organizations are able to manage content and information securely throughout their lifecycle with the use of an document analytics solution. For instance, according to a Kommando Tech, a Czech Republic-based independent review site dedicated to providing accurate information about various tech-related products and services, in March 2022, 2. 5 quintillion bytes of data are produced by people every day. The last two years have seen the creation of around 90% of all data. Therefore, the surge in the volume of content being generated due to the prevalence of digitalization is driving the growth of the document analytics market.
Leading companies in the document analytics market are concentrating on developing advanced solutions like DocGraphLM to improve document processing capabilities using AI-driven insights. DocGraphLM is a sophisticated tool for visual document analysis that leverages state-of-the-art machine learning techniques to enhance the comprehension and handling of complex documents. For example, in January 2024, JPMorgan, a US-based financial services provider, introduced DocGraphLM, an AI model that enhances document analysis by integrating pre-trained language models with graph neural networks. This approach enables it to interpret complex documents, such as forms, invoices, and receipts, which often contain a combination of text, images, and structured data.
Major companies operating in the document analytics market are focusing on integrating artificial intelligence (AI) with document analytics technology for increasing the applications of documentary analytics such as legal documentation. AI-based document analytics is a technology that leverages artificial intelligence techniques to extract, analyze, and transform unstructured data from documents into structured data. For instance, in July 2022, Appara, a Canada-based document analytics and automation company, launched Appara Wills a new digital will and estate product. Appara Wills, designed for solicitors and estate planners, allows users with customers in British Columbia to execute completely customizable wills and estate documents paperless.
In August 2022, Snowflake a US-based cloud computing-based data cloud company acquired Applica for an undisclosed amount. The acquisition adds document analytics and document automation capabilities to Snowflake’s portfolio of offerings. Applica a Poland-based document analytics company.
Major companies operating in the document analytics market include ABBYY Group, Celaton Limited, Extract Systems LLC, HCL Technologies Limited, HyperScience Inc., Automation Anywhere Inc., International Business Machines Corporation, OpenText Corporation, Adobe Inc., SAP SE, Microsoft Corporation, Dexlock Technologies Private Limited, AntWorks Pte. Ltd., WorkFusion Inc., Infrrd Inc., Datamatics Global Services Limited, Kodak Alaris Inc., Hyland Software Inc., Parascript LLC, M-Files Corporation, Ephesoft Inc., Rossum Corporation, Nanonets Inc., Zoho Corporation Pvt. Ltd., UiPath Inc., Datafleck Ltd., DocuSign Inc.
Document analytics refers to the usage of natural language processing (NLP) to automate repetitive document processing operations or to obtain a better understanding of the documents' content. The document analytics enables users to track when and how much time is spent on each page of the document.
The main products of document analytics are solutions, services, professional services, and managed services. Solutions are used in advanced artificial intelligence and natural language processing. The traditional documentation was extremely time consuming, however, the document analytic solutions reduce time. These solutions and services are used in various business verticals, which includes BFSI, government, healthcare and life sciences, retail and eCommerce, manufacturing, transportation and logistics, and others. These solutions and services are installed in large enterprises, and small and medium-sized enterprises (SMEs) through cloud, and on-premise deployment routes.
The document analytics market research report is one of a series of new reports that provides document analytics market statistics, including Document analytics industry global market size, regional shares, competitors with a document analytics market share, detailed document analytics market segments, market trends and opportunities, and any further data you may need to thrive in the document analytics industry. This document analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
North America was the largest region in the document analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the document analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the document analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The document analytics market includes revenues earned by entities by providing analytics services for analyzing documentary evidence and answering specific research questions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Document Analytics Market Characteristics3. Document Analytics Market Trends And Strategies4. Document Analytics Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics And Covid And Recovery On The Market32. Global Document Analytics Market Competitive Benchmarking And Dashboard33. Key Mergers And Acquisitions In The Document Analytics Market34. Recent Developments In The Document Analytics Market
5. Global Document Analytics Growth Analysis And Strategic Analysis Framework
6. Document Analytics Market Segmentation
7. Document Analytics Market Regional And Country Analysis
8. Asia-Pacific Document Analytics Market
9. China Document Analytics Market
10. India Document Analytics Market
11. Japan Document Analytics Market
12. Australia Document Analytics Market
13. Indonesia Document Analytics Market
14. South Korea Document Analytics Market
15. Western Europe Document Analytics Market
16. UK Document Analytics Market
17. Germany Document Analytics Market
18. France Document Analytics Market
19. Italy Document Analytics Market
20. Spain Document Analytics Market
21. Eastern Europe Document Analytics Market
22. Russia Document Analytics Market
23. North America Document Analytics Market
24. USA Document Analytics Market
25. Canada Document Analytics Market
26. South America Document Analytics Market
27. Brazil Document Analytics Market
28. Middle East Document Analytics Market
29. Africa Document Analytics Market
30. Document Analytics Market Competitive Landscape And Company Profiles
31. Document Analytics Market Other Major And Innovative Companies
35. Document Analytics Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Document Analytics Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on document analytics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for document analytics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The document analytics market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Product Type: Solutions; Services; Professional Services; Managed Services2) By Industry Vertical: BFSI; Government; Healthcare And Life Sciences; Retail And eCommerce; Manufacturing; Transportation And Logistics; Other Industry Verticals
3) By Deployment Type: Cloud; On-Premise
4) By Organization Size: Large Enterprises; Small And Medium-Sized Enterprises (SMEs)
Subsegments:
1) By Solutions: On-Premises Solutions; Cloud-Based Solutions2) By Services: Consulting Services; Integration Services;
3) By Professional Services: Implementation Services; Training And Support Services
3) By Managed Services: Document Management; Data Hosting And Storage
Key Companies Mentioned: ABBYY Group; Celaton Limited; Extract Systems LLC; HCL Technologies Limited; HyperScience Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- ABBYY Group
- Celaton Limited
- Extract Systems LLC
- HCL Technologies Limited
- HyperScience Inc.
- Automation Anywhere Inc.
- International Business Machines Corporation
- OpenText Corporation
- Adobe Inc.
- SAP SE
- Microsoft Corporation
- Dexlock Technologies Private Limited
- AntWorks Pte. Ltd.
- WorkFusion Inc.
- Infrrd Inc.
- Datamatics Global Services Limited
- Kodak Alaris Inc.
- Hyland Software Inc.
- Parascript LLC
- M-Files Corporation
- Ephesoft Inc.
- Rossum Corporation
- Nanonets Inc.
- Zoho Corporation Pvt. Ltd.
- UiPath Inc.
- Datafleck Ltd.
- DocuSign Inc.
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 200 |
Published | January 2025 |
Forecast Period | 2025 - 2029 |
Estimated Market Value ( USD | $ 5.16 Billion |
Forecasted Market Value ( USD | $ 26.35 Billion |
Compound Annual Growth Rate | 50.3% |
Regions Covered | Global |
No. of Companies Mentioned | 27 |