Document Analysis Market Size, Share: Emerging Technologies, Sales Revenue, Key Players Analysis, Development

The document analysis market size is expected to reach US$ 8023.6 million by 2027, registering at a CAGR of 39.2% during the forecast period of 2020 to 2027, according to a new research study conducted by The Insight Partners. The report highlights key factors driving the market growth and prominent players with their developments in the market.

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Document analysis is a systematic process for evaluating or reviewing any type of document, printed as well as electronic. These documents can be internet transmitted or computer-based. In document analysis like other analytical methods in qualitative research, data is interpreted and examined in such a way that it elicits meaning, develop empirical knowledge, and gain understanding. These document analyses are offered as a product as well as a service. The market for document analysis is highly fragmented worldwide, and it is constantly witnessing the emergence of a new player. The key companies operating in the field of document analysis market across the globe include Antworks, Automation Anywhere, Celaton, Datamatics Global Services Limited, Extract Systems, HCL Technologies Limited, Hyland Software, Inc., Hyperscience, IBM Corp, and OpenText Corporation, among others.

The Key Players in The Global Market Are: 

IBM Corporation
Automation Anywhere, Inc.
AntWorks
Celaton
Datamatics Global Services Limited
Extract Systems
HCL Technologies
Hyland Software, Inc.
HYPERSCIENCE
OpenText Corporation

The demand for document analysis products is expected to grow significantly during the forecast period. For instance, in the retail industry, these products offer measurable and consistent business value to processes such as customer correspondence and claims, sales order processing, and accounts payable. The companies operating in the market are focusing on the development of new products to gain a strong customer base and achieve a significant market share. For instance, in 2019, AntWorks sponsored the Intelligent Document Processing (IDP) Playbook by Everest Group.IDP Playbook will note the adopted RPA solutions and extract data from complex unstructured documents with Machine Learning and enables end-to-end automation of entire business processed. Also, in 2019 HCL launched its IA product, EXACTO. The underlying platform is made on open source machine learning libraries. The product practices servers with GPUs to run Deep Neural network algorithms.

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The report segments the global Market as follows:

By Solutions (Products and Services);
By Deployment Type (Cloud and On-premise);
By Organization Size (Large Enterprises and Small & Medium Enterprises (SMEs))
By Industry Vertical (BFSI, Government, Healthcare, Retail, Manufacturing, and Others)

The demand for document analysis is expected to grow owing to various factors such as rising demand  for gathering  meaning full insights from unstructured data, and The banking, financial services, and insurance sector is a matured industry and is continuously experiencing the emergence of advanced technological solutions in order to increase efficiency which is likely to drive the market. Based on geography, the document analysis market was dominated by North America, and is expected to grow at a decent rate due to rising initiatives toward digitalization across enterprises, and growing adoption of cloud document analysis solution.

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Answers that the report acknowledges:

Market size and growth rate during forecast period.
Key factors driving the Market.
Key market trends cracking up the growth of the Market
Challenges to market growth.
Key vendors of Document Analysis Market
Detailed SWOT analysis.
Opportunities and threats face by the existing vendors in Global Market
Trending factors influencing the market in the geographical regions.
Strategic initiatives focusing the leading vendors.
PEST analysis of the market in the five major region

Contact Us:
If you have any queries pertaining to the report or would like further information, feel free to reach out to us at-
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

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The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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This release was published on openPR.