Intelligent Document Processing Market Report 2025

The intelligent document processing market size has grown exponentially in recent years. It will grow from $2.29 billion in 2024 to $3.01 billion in 2025 at a compound annual growth rate (CAGR) of 31.7%. The growth in the historic period can be attributed to automation demand, paperless initiatives, data accuracy concerns, regulatory compliance, data security demands, cost reduction, advanced analytics needs.

The intelligent document processing market size is expected to see exponential growth in the next few years. It will grow to $9.56 billion in 2029 at a compound annual growth rate (CAGR) of 33.5%. The growth in the forecast period can be attributed to industry-specific requirements, cognitive automation, real-time processing, cross-platform compatibility, enhanced data security measures. Major trends in the forecast period include natural language processing (NLP) advancements, hyperautomation integration, integration with robotic process automation, cloud-based IDP solutions, human-in-the-loop (HitL) systems.

The increasing number of IoT-connected devices is anticipated to drive the growth of the intelligent document processing (IDP) market in the future. IoT-connected devices are nonstandard computing platforms that possess data transmission capabilities and connect wirelessly to a network. The Internet of Things (IoT) can streamline various document processes and enhance the management of digital documents when integrated with machine learning, thereby supporting market growth as the number of IoT-connected devices rises. For instance, a report released in November 2022 by Ericsson, a Sweden-based telecommunications company, noted that broadband IoT (4G/5G), which constitutes the majority of cellular IoT devices, reached 1.3 billion connections in 2022. It is projected that nearly 60% of cellular IoT connections will be broadband IoT connections by the end of 2028, with 4G accounting for the majority. North East Asia currently leads in cellular IoT connections, with predictions indicating it will exceed 2 billion connections in 2023. Thus, the growth in IoT-connected devices is fueling the intelligent document processing market.

The growth of the e-commerce sector is expected to enhance the growth of the intelligent document processing market in the future. The e-commerce sector includes the industry that facilitates commercial transactions conducted online. As the e-commerce sector expands, there is an increasing demand for streamlined and automated document processing solutions, such as IDP systems, to effectively manage the rising volume and complexity of documents associated with online transactions. This contributes to improved operational efficiency, reduced errors, and ensured compliance in the fast-paced and continuously evolving e-commerce landscape. For example, in August 2024, the U.S. Census Bureau, a government agency in the United States, reported that retail e-commerce sales in the U.S. reached $291.6 billion in the second quarter of 2024, reflecting a 1.3% increase from the first quarter and a 6.7% year-over-year rise. Total retail sales amounted to $1.82 trillion, up 0.5% from the first quarter and 2.1% from the second quarter of 2023. Therefore, the expansion of the e-commerce sector is propelling the growth of the intelligent document processing market.

Product innovation is a significant trend gaining traction in the intelligent document processing market. Leading companies in this sector are emphasizing product innovation to maintain their competitive edge. For example, in February 2023, Kofax, a U.S.-based provider of intelligent automation software, introduced Kofax TotalAgility 7.11, an advanced platform for intelligent document processing (IDP). This platform features AI-driven enhancements, including natural language processing (NLP), machine learning, and computer vision technologies. These innovations enhance the ability to capture, classify, and extract data from various document formats, such as invoices, contracts, and emails, enabling businesses to automate processes like accounts payable, claims handling, and customer onboarding with improved efficiency and accuracy.

Leading companies in the intelligent document processing market are developing technologically advanced products, such as AI-powered intelligent document processing (IDP) solutions, to expand their customer bases, boost sales, and increase revenue. An AI-powered intelligent document processing (IDP) product refers to a technology solution that leverages artificial intelligence (AI) to automate the extraction, interpretation, and processing of information from various document types. For instance, in March 2024, Mphasis, an India-based information technology company, launched DeepInsights Doc AI, an intelligent document processing solution powered by generative AI, aimed at improving document management efficiency for enterprises. This innovative platform is designed to help businesses extract context-specific information from diverse document formats while seamlessly integrating with downstream IT systems to generate actionable insights.

In September 2022, ProcessMaker, a U.S.-based company specializing in digital business transformation and process management, acquired Doculayer for an undisclosed amount. This acquisition allowed ProcessMaker to enhance its holistic approach to process orchestration and automation for enterprise clients by incorporating Doculayer’s AI/ML technology. Doculayer, based in the Netherlands, is an expert in intelligent document processing that focuses on processing and managing unstructured data.

Major companies operating in the intelligent document processing market include ABBYY Solutions Ltd., Datamatics Technologies Ltd., HCL Technologies Limited, International Business Machines Corporation, Kofax Inc., WorkFusion Inc., Deloitte Touche Tohmatsu Limited, Hyland Software Inc., Infrrd Inc., Appian Corporation, Parascript LLC, Open Text Corporation, Extract Systems, Automation Anywhere Inc., UiPath Inc., Antworks Solutions India Private Limited, Hyperscience, Paanini Innovations India Private Limited, EdgeVerve, Adobe Systems Inc., Kodak Alaris, Ephesoft Inc., Rossum Corporation, Celonis SE, Kryon Systems, Docsumo, Docparser, DocuPhase, DocStar, DocuWare.

North America was the largest region in the intelligent document processing market in 2024. The regions covered in the intelligent document processing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the intelligent document processing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Intelligent document processing (IDP) entails the automation of data extraction from intricate unstructured and semi-structured data within documents, transforming it into organized and actionable information. It employs diverse technologies to classify, categorize, extract pertinent data, and validate the extracted information to enhance accuracy.

The key components of intelligent document processing comprise solutions and services. Solution components encompass professional services and managed services. Professional services encompass activities such as consulting, cloud migration, and deployment. The applicable organizational sizes include Small and Medium Enterprises (SMEs) and large enterprises, with deployment options spanning cloud and on-premise. The technologies employed encompass natural language processing (NLP), optical character recognition (OCR), robotic process automation (RPA), Google Vision, deep learning (DL), machine learning (ML), and artificial intelligence (AI). These technologies find applications in various sectors, including banking, financial services, and insurance (BFSI), government, healthcare, retail, manufacturing, and others.

The intelligent document processing market research report is one of a series of new reports that provides intelligent document processing market statistics, including intelligent document processing industry global market size, regional shares, competitors with an intelligent document processing market share, detailed intelligent document processing market segments, market trends and opportunities, and any further data you may need to thrive in the intelligent document processing industry. This intelligent document processing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The intelligent document processing market includes revenues earned by entities by providing automation of data extraction services to client companies. 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.