Document Analysis Market

Document Analysis Market by Solution (Product and Services), Deployment Type (On-premises and Cloud), Organization Size, Vertical (BFSI, Healthcare and Life Sciences, and Government), and Region - Global Forecast to 2024

Report Code: TC 7431 Nov, 2019, by marketsandmarkets.com

[152 Pages Report] MarketsandMarkets forecasts the global document analysis market size to grow from USD 438 million in 2019 to USD 3,855 million by 2024, at a CAGR of 54.5% from 2019 to 2024. Growing initiatives to digitalize content across enterprises and increasing adoption of cloud-based document analysis solutions are some of the major factors expected to drive the growth of this market.

Document Analysis Market

The professional service segment is expected to hold a larger size during the forecast period within the document analysis market

Professional services include planning and consulting—offers a full set of planning and consulting services based on the service provider’s product portfolio, as well as third-party products.  Covering all stages: expectation analyses, solution architecture definition, and design, C-level business case development, ROI and TCO evaluations, and post-production solution support. Operations and maintenance services cover all aspects of support, from routine activities to smooth fault handling and progressive product upgrade procedures, product development and systems integration. And training services offer comprehensive software training to ensure that organizations can operate, administer and maintain vendor products.

SMEs segment to grow at a higher rate during the forecast period

The need for document analysis is equally required in all organizations, irrespective of the size, to compete in the market. Cost-effectiveness is an essential need of the SMEs, as they are always constrained by limited budgets, which leaves them with limited ways to market themselves and gain visibility. SMEs usually opt for Software as a Service (SaaS)-based document analysis solution, due to cost constraints; additionally, the SaaS model minimizes the IT requirement.

The BFSI vertical is expected to hold the largest market size during the forecast period

The entry of FinTech companies in the market has caused a lot of disruption in this industry. As a result, many companies in this vertical are expected to adopt an document analysis solution. The companies in this vertical deals with complex documents such as invoices, receipts, legal contracts, emails, and financial statements. The extraction of these data available in different formats PDFs, images, excel sheets, and others is very difficult to do it manually. Thus, the adoption of document analysis solution helps BFSI companies to capture, classify, and extract relevant data for further processes. Moreover, document analysis ensures the seamless execution of transactions and fix bottlenecks in workflows. These solutions improve the accuracy and efficiency of various processes and assist in regulatory and compliance reporting by collating data from multiple sources.

Document Analysis Market

North America to hold the largest market size during the forecast period

North America is expected to hold the largest market size in the global document analysis market, while Asia Pacific (APAC) is likely to grow at the highest CAGR during the forecast period. North America is expected to be the leading region in terms of adopting document analysis solutions and services. The developed economies of North America, such as the US and Canada, there is a high focus on innovations obtained from Research and Development (R&D) and technology. The APAC region is expected to be the fastest-growing region in the document analysis market, due to the growing need for advanced intelligent solution.

Key Market Players

Major vendors in the global document analysis market include ABBYY (US), WorkFusion (US), Kofax (US), IBM (US), AntWorks (Singapore), Parascript (US), Automation Anywhere (US), Datamatics (India), Hyland (US), Extract Systems (US), HyperScience (US), OpenText (Canada), Infrrd (US),  Celaton (UK), HCL Technologies (India), Kodak Alaris (UK), Rossum (Czech Republic), InData Labs (Belarus), Ephesoft (US) , and IRIS (Belgium). These vendors have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the global market further.

Kofax (US) is one of the leading providers of document analysis solution. Kofax has a varied portfolio of products, such as Intelligent Automation, Robotic Process Automation, Cognitive Capture, Process Orchestration, Advanced Analytics, Mobility and Engagement, and Accounts Payable  Automation. Kofax provides automation solutions to transform information-intensive business processes, reduce manual work and errors, minimize cost, and improve customer engagement. In the document analysis market, Kofax offers Cognitive Capture. Kofax recently acquired the Nuance Imaging Division. With closure of the acquisition, Kofax’s position will strengthen in the document analysis market as a solid market shareholder.

Scope of Report

Report Metrics

Details

Market size available for years

2017-2024

Base year considered

2018

Forecast period

2019-2024

Forecast units

Value (USD)

Segments covered

Solution (Product and Services),  Deployment Type, Organization Size, Vertical, and Region

Geographies covered

North America, Europe, APAC, MEA, and Latin America

Companies covered

It includes 20 major vendors, namely, ABBYY (US), WorkFusion (US), Kofax (US), IBM (US), AntWorks (Singapore), Parascript (US), Automation Anywhere (US), Datamatics (India), Hyland (US), Extract Systems (US), HyperScience (US), OpenText (Canada), Infrrd (US),  Celaton (UK), HCL Technologies (India), Kodak Alaris (UK), Rossum (Czech Republic), InData Labs (Belarus), Ephesoft (US) , and IRIS (Belgium)

This research report categorizes the document analysis market to forecast revenues and analyze trends in each of the following submarkets:

By Solution:

  • Product
  • Services

By Service:

  • Professional Services
  • Managed Services

By Deployment Type:

  • On-premises
  • Cloud

By Organization Size:

  • SMEs
  • Large Enterprises

By Vertical:

  • BFSI
  • Government
  • Healthcare and Life Sciences
  • Retail and eCommerce
  • Manufacturing
  • Transportation and Logistics
  • Others (ITES, telecom, education, and energy and utilities

By Region:

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • Japan
    • India
    • Rest of APAC
  • MEA
    • Middle East and North Africa
    • Sub-Saharan Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

Recent Developments

  • In July 2019, IBM enhanced its Datacap version 9.1.6. With the new version, it updates OCR/A engine files, enhanced Datacap to support SQL Server AlwaysOn Availability Groups, and enhanced image ruleset for changing color depth of an image.
  • In February 2019, Kofax acquired Nuance Document Imaging (NDI), a division of Nuance Communications for USD 400 million in cash. With this acquisition, Kofax drives customer value to its existing portfolio by adding technologies, such as cloud compatibility, scan-to-archive, scan-to-workflow, print management, and document security to its end-to-end Intelligent Automation platform.
  • In October 2018, ABBYY expanded its FineReader 14 capabilities to support the latest Portable Document Format (PDF) International Standards Organization (ISO) standard. Moreover, it improved Optical Character Recognition (OCR) for Japanese and added Hanja symbols for documents in the Korean language.

Critical Questions the Report Answers

  • What are new market segments to focus over the next 2–5 years for prioritizing the efforts and investments?
  • What are the current trends that are driving the document analysis market?
  • Who are the top vendors in the market and what is their competitive analysis?
  • What are the innovations and developments done by the major market players?
  • What are the regulatory implications that impact the market directly and indirectly?
  • Which region is expected to lead the global market at the end of the forecast period?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 19)
    1.1 Objectives of the Study
    1.2 Market Definition
           1.2.1 Inclusions and Exclusions
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Regions Covered
    1.4 Years Considered for the Study
    1.5 Currency Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 23)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakup of Primary Profiles
                    2.1.2.2 Key Industry Insights
    2.2 Market Breakup and Data Triangulation
    2.3 Market Size Estimation
           2.3.1 Top-Down Approach
           2.3.2 Bottom-Up Approach
    2.4 Market Forecast
    2.5 Assumptions for the Study
    2.6 Limitations of the Study

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Market Opportunities in the Market
    4.2 North America: Market By Vertical and Country
    4.3 Document Analysis Market: Major Countries

5 Market Overview (Page No. - 35)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growing Initiatives to Digitalize Content Across Enterprises
                    5.2.1.2 Increasing Adoption of Cloud-Based Intelligent Document Processing Solution
           5.2.2 Restraints
                    5.2.2.1 Addressing Governance and Compliance Requirements
           5.2.3 Opportunities
                    5.2.3.1 Integration of Advanced Technologies With Intelligent Document Processing Solution
                    5.2.3.2 Increasing Need to Improve Customer Experience
           5.2.4 Challenges
                    5.2.4.1 High Implementation Costs
    5.3 Use Cases
           5.3.1 Use Case 1
           5.3.2 Use Case 2
           5.3.3 Use Case 3

6 Document Analysis Market By Solution (Page No. - 40)
    6.1 Introduction
    6.2 Product
           6.2.1 Growing Need to Automate the Documentation Process to Drive the Adoption Intelligent Document Processing Products
    6.3 Services
           6.3.1 Growing Need for Intelligent Document Processing Solutions to Fuel the Demand for Intelligent Document Processing Services Across Verticals

7 Document Analysis Market By Service (Page No. - 44)
    7.1 Introduction
    7.2 Professional Services
           7.2.1 Growing Focus of Organizations to Effectively Deploy Intelligent Document Processing Solutions to Fuel the Adoption of Professional Services
    7.3 Managed Services
           7.3.1 Need to Provide Enterprises With Best Practices and Deep-Rooted Transformation Expertise Without Impairing Internal Operations to Drive the Adoption of Managed Services

8 Document Analysis Market By Deployment Type (Page No. - 48)
    8.1 Introduction
    8.2 On-Premises
           8.2.1 Need for Data Security to Drive the Growth of the On-Premises Intelligent Document Processing Solution
    8.3 Cloud
           8.3.1 Scalability and Cost-Effectiveness are Major Factors Driving the Adoption of Cloud-Based Intelligent Document Processing Solutions

9 Document Analysis Market By Organization Size (Page No. - 52)
    9.1 Introduction
    9.2 Large Enterprises
           9.2.1 Rising Need for Operational Efficiency to Drive the Demand for Intelligent Document Processing Solutions in Large Enterprises
    9.3 Small and Medium-Sized Enterprises
           9.3.1 Need for a Cost-Effective and Comprehensive Solution to Drive the Growth of the Document Analysis Market Across Small and Medium-Sized Enterprises

10 Document Analysis Market By Vertical (Page No. - 56)
     10.1 Introduction
     10.2 Banking, Financial Services and Insurance
             10.2.1 Need to Ensure Seamless Execution of Transactions and Fix Bottlenecks in Workflow to Drive the Adoption of Intelligent Document Processing in the BFSI Vertical
     10.3 Government
             10.3.1 Growing Demand for Greater Flexibility, Enhanced Data Security, and Advanced Intelligence to Drive the Document Analysis Market in the Government Vertical
     10.4 Healthcare and Life Sciences
             10.4.1 Need to Enhance Productivity and Gradual Adoption of Intelligent Solutions to Drive the Adoption of Intelligent Document Processing Solutions in the Healthcare and Life Sciences Vertical
     10.5 Retail and Ecommerce
             10.5.1 Growing Need to Manage and Improve Large Invoices to Drive the Growth of Intelligent Document Processing Solutions in the Vertical
     10.6 Manufacturing
             10.6.1 Growing Need to Automate Business Process to Drive the Adoption of Intelligent Document Processing Solutions in Manufacturing Sector
     10.7 Transportation and Logistics
             10.7.1 Need to Reduce Freight Costs, Optimize Service Levels, Increase Efficiency, and Streamline Business Processes to Spur the Adoption of Intelligent Document Processing in the Transportation and Logistics Vertical
     10.8 Others

11 Document Analysis Market, By Region (Page No. - 65)
     11.1 Introduction
     11.2 North America
             11.2.1 United States
                       11.2.1.1 Prominent Intelligent Document Processing Vendors in the Region to Drive the Adoption of Intelligent Document Processing Solutions in the US
             11.2.2 Canada
                       11.2.2.1 Early Adoption of Automation-Based Technologies to Drive the Growth of Market in Canada
     11.3 Europe
             11.3.1 United Kingdom
                       11.3.1.1 Safety Laws and Compliances to Fuel the Adoption of Intelligent Document Processing Solutions in the UK
             11.3.2 Germany
                       11.3.2.1 New Government Regulations and Adoption of Advanced Technologies to Fuel the Growth of Market in Germany
             11.3.3 France
                       11.3.3.1 Rising Need for Providing Enhanced Customer Experience to Fuel the Adoption of Intelligent Document Processing Solutions in France
             11.3.4 Rest of Europe
     11.4 Asia Pacific
             11.4.1 China
                       11.4.1.1 Technological Advancement Across the Manufacturing Sector to Drive the Growth of Market in China
             11.4.2 Japan
                       11.4.2.1 Increased Spending on the Intelligent Automation Industry and `R&D is Expected to Drive the Market for Intelligent Document Processing
             11.4.3 India
                       11.4.3.1 Rise in Digitalization Among the Enterprises Incidents to Drive the Adoption of Incident and Emergency Solutions in India
             11.4.4 Rest of APAC
     11.5 Middle East and Africa
             11.5.1 Middle East and North Africa
                       11.5.1.1 Adoption of Intelligent Document Processing in the Oil and Gas Vertical to Drive the Growth of Document Analysis Market in Mena
             11.5.2 Sub-Saharan Africa
                       11.5.2.1 Rising Industrialization and Inclination Toward the Adoption of Advanced Technologies in Sub-Saharan Africa
     11.6 Latin America
             11.6.1 Brazil
                       11.6.1.1 Increasing Investment for Adoption of Advanced Technologies to Drive the Growth of the Market in Brazil
             11.6.2 Mexico
                       11.6.2.1 Growing It Infrastructure to Fuel the Adoption of Intelligent Document Processing Solutions in Mexico
             11.6.3 Rest of Latin America

12 Competitive Landscape (Page No. - 108)
     12.1 Competitive Scenario
             12.1.1 New Product Launches
             12.1.2 Partnerships and Collaborations
     12.2 Competitive Leadership Mapping
             12.2.1 Visionary Leaders
             12.2.2 Innovators
             12.2.3 Dynamic Differentiators
             12.2.4 Emerging Companies

13 Company Profiles (Page No. - 113)
     13.1 Introduction
(Business Overview, Software, Solution, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
     13.2 ABBYY
     13.3 Kofax
     13.4 IBM
     13.5 WorkFusion
     13.6 Automation Anywhere
     13.7 AntWorks
     13.8 Parascript
     13.9 Hyland
     13.10 Datamatics
     13.11 Extract Systems
     13.12 HyperScience
     13.13 OpenText
     13.14 Infrrd
     13.15 Celaton
     13.16 HCL Technologies
     13.17 Kodak Alaris
     13.18 Rossum 
     13.19 InData Labs
     13.20 Ephesoft
     13.21 IRIS (Canon Group)
     13.22 Right-To-Win

*Details on Business Overview, Software, Solution, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 145)
     14.1 Discussion Guide
     14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.3 Available Customizations
     14.4 Related Reports
     14.5 Author Details


List of Tables (105 Tables)

Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Factor Analysis
Table 3 Document Analysis Market Size, By Solution, 2017–2024 (USD Million)
Table 4 Product: Market Size By Region, 2017–2024 (USD Million)
Table 5 Services: Market Size By Region, 2017–2024 (USD Million)
Table 6 Document Analysis Market Size, By Service, 2017–2024 (USD Million)
Table 7 Professional Services: Market Size By Region, 2017–2024 (USD Million)
Table 8 Managed Services: Market Size By Region, 2017–2024 (USD Million)
Table 9 Document Analysis Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 10 On-Premises: Market Size By Region, 2017–2024 (USD Million)
Table 11 Cloud: Market Size By Region, 2017–2024 (USD Million)
Table 12 Document Analysis Market Size, By Organization Size, 2017–2024 (USD Million)
Table 13 Large Enterprises: Intelligent Document Processing Size, By Region, 2017–2024 (USD Million)
Table 14 Small and Medium-Sized Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 15 Document Analysis Market Size, By Vertical, 2017–2024 (USD Million)
Table 16 Baking, Financial Services and Insurance: Market Size By Region, 2017–2024 (USD Million)
Table 17 Government: Document Analysis Market Size, By Region, 2017–2024 (USD Million)
Table 18 Healthcare and Life Sciences: Market Size By Region, 2017–2024 (USD Million)
Table 19 Retail and Ecommerce: Market Size By Region, 2017–2024 (USD Million)
Table 20 Manufacturing: Document Analysis Market Size, By Region, 2017–2024 (USD Million)
Table 21 Transportation and Logistics: Market Size By Region, 2017–2024 (USD Million)
Table 22 Others: Market Size By Region, 2017–2024 (USD Million)
Table 23 Document Analysis Market Size, By Region, 2017–2024 (USD Million)
Table 24 North America: Document Analysis Market Size, By Solution, 2017–2024 (USD Million)
Table 25 North America: Market Size By Service, 2017–2024 (USD Million)
Table 26 North America: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 27 North America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 28 North America: Market Size By Vertical, 2017–2024 (USD Million)
Table 29 North America: Market Size By Country, 2017–2024 (USD Million)
Table 30 North America: Solution Market Size, By Country, 2017–2024 (USD Million)
Table 31 North America: Services Market Size, By Country, 2017–2024 (USD Million)
Table 32 North America: Large Enterprises Market Size, By Country,  2017–2024 (USD Million)
Table 33 North America: Small and Medium-Sized Enterprises Market Size, By Country, 2017–2024 (USD Million)
Table 34 North America: On-Premises Market Size, By Country, 2017–2024 (USD Million)
Table 35 North America: Cloud Market Size, By Country, 2017–2024 (USD Million)
Table 36 North America: Banking, Financial Services, and Insurance Market Size, By Country, 2017–2024 (USD Million)
Table 37 North America: Government Market Size, By Country, 2017–2024 (USD Million)
Table 38 North America: Healthcare and Life Sciences Market Size, By Country, 2017–2024 (USD Million)
Table 39 North America: Retail and Ecommerce Market Size, By Country, 2017–2024 (USD Million)
Table 40 North America: Manufacturing Market Size, By Country, 2017–2024 (USD Million)
Table 41 North America: Transportation and Logistics Market Size, By Country, 2017–2024 (USD Million)
Table 42 North America: Others Market Size, By Country, 2017–2024 (USD Million)
Table 43 United States: Document Analysis Market Size, By Solution, 2017–2024 (USD Million)
Table 44 United States: Market Size By Service, 2017–2024 (USD Million)
Table 45 United States: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 46 United States: Market Size By Organization Size, 2017–2024 (USD Million)
Table 47 United States: Market Size By Vertical, 2017–2024 (USD Million)
Table 48 United States: Product Market Size, By Vertical, 2017–2024 (USD Million)
Table 49 United States: Services Market Size, By Vertical, 2017–2024 (USD Million)
Table 50 United States: On-Premises Market Size, By Vertical, 2017–2024 (USD Million)
Table 51 United States: Cloud Market Size, By Vertical, 2017–2024 (USD Million)
Table 52 United States: Small and Medium-Sized Enterprises Market Size, By Vertical, 2017–2024 (USD Million)
Table 53 United States: Large Enterprises Market Size, By Vertical, 2017–2024 (USD Million)
Table 54 Canada: Document Analysis Market Size, By Solution, 2017–2024 (USD Million)
Table 55 Canada: Market Size By Service, 2017–2024 (USD Million)
Table 56 Canada: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 57 Canada: Market Size By Organization Size, 2017–2024 (USD Million)
Table 58 Canada: Market Size By Vertical, 2017–2024 (USD Million)
Table 59 Europe: Document Analysis Market Size, By Solution, 2017–2024 (USD Million)
Table 60 Europe: Market Size By Service, 2017–2024 (USD Million)
Table 61 Europe: Market Size By Deployment Type
Table 62 Europe: Market Size By Organization Size
Table 63 Europe: Market Size By Vertical, 2017–2024 (USD Million)
Table 64 Europe: Market Size By Country, 2017–2024 (USD Million)
Table 65 United Kingdom: Document Analysis Market Size, By Solution, 2017–2024 (USD Million)
Table 66 United Kingdom: Market Size By Service, 2017–2024 (USD Million)
Table 67 United Kingdom: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 68 United Kingdom: Market Size By Organization Size, 2017–2024 (USD Million)
Table 69 United Kingdom: Market Size By Vertical, 2017–2024 (USD Million)
Table 70 United Kingdom: Product Market Size, By Vertical, 2017–2024 (USD Million)
Table 71 United Kingdom: Services Market Size, By Vertical, 2017–2024 (USD Million)
Table 72 United Kingdom: On-Premises Market Size, By Vertical, 2017–2024 (USD Million)
Table 73 United Kingdom: Cloud Market Size, By Vertical, 2017–2024 (USD Million)
Table 74 United Kingdom: Small and Medium-Sized Enterprises Market Size, By Vertical, 2017–2024 (USD Million)
Table 75 United Kingdom: Large Enterprises Market Size, By Vertical, 2017–2024 (USD Million)
Table 76 Asia Pacific: Document Analysis Market Size, By Solution, 2017–2024 (USD Million)
Table 77 Asia Pacific: Market Size By Service, 2017–2024 (USD Million)
Table 78 Asia Pacific: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 79 Asia Pacific: Market Size By Organization Size, 2017–2024 (USD Million)
Table 80 Asia Pacific: Market Size By Vertical, 2017–2024 (USD Million)
Table 81 Asia Pacific: Market Size By Country, 2017–2024 (USD Million)
Table 82 China: Document Analysis Market Size, By Solution, 2017–2024 (USD Million)
Table 83 China: Market Size By Service, 2017–2024 (USD Million)
Table 84 China: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 85 China: Market Size By Organization Size, 2017–2024 (USD Million)
Table 86 China: Market Size By Vertical, 2017–2024 (USD Million)
Table 87 Middle East and Africa: Document Analysis Market Size, By Solution, 2017–2024 (USD Million)
Table 88 Middle East and Africa: Market Size By Service, 2017–2024 (USD Million)
Table 89 Middle East and Africa: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 90 Middle East and Africa: Market Size By Organization Size, 2017–2024 (USD Million)
Table 91 Middle East and Africa: Market Size By Vertical, 2017–2024 (USD Million)
Table 92 Middle East and Africa: Market Size By Country, 2017–2024 (USD Million)
Table 93 Middle East and North Africa: Document Analysis Market Size, By Solution, 2017–2024 (USD Million)
Table 94 Middle East and North Africa: Market Size By Service, 2017–2024 (USD Million)
Table 95 Middle East and North Africa: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 96 Middle East and North Africa: Market Size By Organization Size, 2017–2024 (USD Million)
Table 97 Middle East and North Africa: Market Size By Vertical, 2017–2024 (USD Million)
Table 98 Latin America: Document Analysis Market Size, By Solution, 2017–2024 (USD Million)
Table 99 Latin America: Market Size By Service, 2017–2024 (USD Million)
Table 100 Latin America: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 101 Latin America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 102 Latin America: Market Size By Vertical, 2017–2024 (USD Million)
Table 103 Latin America: Market Size By Country, 2017–2024 (USD Million)
Table 104 New Product Launches, 2019
Table 105 Partnerships and Collaborations, 2017- 2019
 
 
List of Figures (25 Figures)
 
Figure 1 Document Analysis Market: Research Design
Figure 2 Market Top-Down and Bottom-Up Approaches
Figure 3 Segments With Higher Market Shares in the Document Analysis Market in 2019
Figure 4 North America to Account for the Highest Market Share in 2019
Figure 5 Growing Initiatives to Digitalize Content Across Enterprise to Drive the Growth of the Document Analysis Market
Figure 6 Banking, Financial Services and Insurance and United States to Account for Highest and Higher Market Shares Respectively in the North American Document Analysis Market in 2019
Figure 7 India to Grow at the Highest Growth Rate During the Forecast Period
Figure 8 Document Analysis Market: Drivers, Restraints, Opportunities, and Challenges
Figure 9 Services Segment to Grow at a Higher CAGR During the Forecast Period
Figure 10 Managed Services Segment to Grow at a Higher CAGR During the Forecast Period
Figure 11 Cloud Deployment Segment to Grow at a Higher CAGR During the Forecast Period
Figure 12 Small and Medium-Sized Enterprises to Grow at a Higher CAGR During the Forecast Period
Figure 13 Government Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 14 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 15 North America: Market Snapshot
Figure 16 Asia Pacific: Market Snapshot
Figure 17 Key Developments in the Market During 2017–2019
Figure 18 Document Analysis Market (Global), Competitive Leadership Mapping, 2019
Figure 19 ABBYY: SWOT Analysis
Figure 20 Kofax: SWOT Analysis
Figure 21 IBM: Company Snapshot
Figure 22 IBM: SWOT Analysis
Figure 23 WorkFusion: SWOT Analysis
Figure 24 Automation Anywhere: SWOT Analysis
Figure 25 Datamatics: Company Snapshot

The study involved four major activities in estimating the current market size for the document analysis market. Exhaustive secondary research was done to collect information on the document analysis industry. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments of the document analysis market.

Secondary Research

In the secondary research process, various secondary sources, such as D&B Hoovers, Bloomberg BusinessWeek, and Factiva, have been referred to identify and collect information for this study. These secondary sources included annual reports, press releases and investor presentations of companies, whitepapers, certified publications, and articles by recognized authors, gold standard and silver standard websites, regulatory bodies, and databases.

Primary Research

In the primary research process, various sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information for making this report. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the document analysis market.

After the complete market engineering (including calculations for market statistics, market breakup, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information, and verify and validate the critical numbers arrived at. Primary research was also undertaken to identify the segmentation types; the competitive landscape of document analysis solution and service providers; and fundamental market dynamics, such as drivers, restraints, opportunities, challenges, industry trends, and key players’ strategies

Following is the breakup of the primary respondents:

Document Analysis Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the document analysis market. These methods were also used extensively to determine the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares split, and breakups were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. The data triangulation and market breakup procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To define, describe, and forecast the document analysis market by solution (product and services), deployment type, organization size, vertical, and region
  • To provide detailed information related to the primary factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To analyze micro markets concerning individual growth trends, prospects, and contributions to the total market
  • To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the document analysis market
  • To forecast the size of the market segments for five main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
  • To profile the key players of the market and comprehensively analyze their market share and core competencies2
  • To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations, in the document analysis market

Available Customizations

Along with the market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix gives a detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakup of the European document analysis market into countries
  • Further breakup of the APAC market into countries
  • Further breakup of the MEA market into countries
  • Further breakup of the Latin American market into countries

Company Information

  • Detailed analysis and profiling of additional market players

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Adjacent Markets

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Competitive Landscape

 
 
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Report Code
TC 7431
Published ON
Nov, 2019
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