Intelligent Document Processing Market: Growth Insights and Regional Dynamics
Market Overview The global intelligent document processing (IDP) market was valued at USD 1.85 billion in 2023 and is projected to grow at a staggering CAGR of 29.50% during the forecast period. This rapid growth trajectory is fueled by the increased adoption of artificial intelligence, machine learning, and automation technologies to streamline data extraction and document workflow processes. Organizations across industries are striving to digitize and automate their document management systems to increase efficiency, reduce operational costs, and enhance compliance. Intelligent document processing refers to the use of AI-based technologies to capture, extract, classify, and validate data from a variety of structured and unstructured documents. Unlike traditional optical character recognition (OCR) systems, IDP solutions can interpret complex document formats using natural language processing and deep learning models. The technology is increasingly being utilized in...