target audience: TECH SUPPLIER Publication date: Jul 2023 - Document type: Market Forecast - Doc Document number: # US50254123
Worldwide Intelligent Document Processing Software Forecast, 2023–2027
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Abstract
This IDC study features data on revenue attributable to the worldwide IDP software market. Capture applications convert unstructured data to structured information that can be stored, accessed, and/or distributed to enterprise applications and/or consumed by a downstream task or process. These applications may increasingly use embedded AI software services, such as entity recognition/extraction, image recognition, and NLP, to perform these functions.
Document AI software uses embedded technologies from the conversational AI and computer vision AI tools submarkets, such as computer vision, NLP, GenAI, ontologies, and language analysis, as well as deep learning models for harvesting intelligence from scanned documents and/or images of documents.
"IDC envisions strong, consistent growth for the worldwide IDP software market through the end of the forecast period in 2027," said Matt Arcaro, research director, Computer Vision and AI Software Tools and Technologies research program at IDC. "This future growth is underpinned by a combination of technology advancements, greater adoption of emerging AI capabilities, and increased acceleration of public cloud–first delivery approaches."