At 39.2% CAGR, the global Document Analysis market is speculated to be worth US$ 8,023.6 million by 2027, says The Insight Partners

 

Document Analysis Market to 2027 - Global Analysis and Forecasts by Solutions (Products and Services); Deployment Type (Cloud and On-premise); Organization Size (Large Enterprises and Small & Medium Enterprises (SMEs)); Industry Vertical (BFSI, Government, Healthcare, Retail, Manufacturing, and Others)

According to the new research report published by The Insight Partners, titled “Document Analysis Market - Global Analysis and Forecast to 2027”, the global Document Analysis market is expected to reach US$ 8,023.6. Mn by 2027, registering a CAGR of 39.2% during the forecast period 2020-2027. 

 

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 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.

 

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. The top companies operating in the field of document analysis include IMB Corporation, Automation Anywhere Inc, AntWorks, Celaton, among others Various other companies operating in the market and are coming up with advance document analysis solution, which is helping the market for document analysis to expand over the years in terms of revenue.  

 

Comments

Post a Comment

Popular posts from this blog

Education and Learning Analytics Market Covid-19 Impact | Analysis by Current Industry Status & Growth Opportunities and Top Key Players 2027

  The global education and learning analytics market was valued at US$ 3890.3 million in 2020 and is expected to reach US$  16,835.9 millionby 2027; it is expected to grow at a CAGR of 23.3% from 2020 to 2027. Learning analytics has emerged from varied branches of science, including psychology, statistics, sociology, data mining, information science, and machine learning, to understand data collected during teaching, learning, and education administration, among other services. Thus, learning analytics signify analysis of a huge volume of data originated and gathered from several sources by students and researchers for evaluating the performance assessment of students. Usually, learning analytics is restricted to evaluate student performance; however, with growing progress in the market, it has extended to business enterprises as workforce management. The workforce management is performed through gathering and analysing the data, anticipating the workload, assessing the ...
Read more

Pancreatic Cancer Therapy Market Size, Growth, Analysis by Recent Trends, Development and Forecast To 2025

  Rise in number of patients suffering with pancreatic cancer is driving the market for pancreatic cancer therapy over the forecast period According to The Insight Partners market research study titled ‘Pancreatic Cancer Therapy Market - Global Analysis and Forecasts By Type, Therapy, the global pancreatic cancer therapy market is expected to reach US$ 4,056.4 Mn in 2025 from US$ 2,011.2 Mn in 2017. The market is estimated to grow with a CAGR of 8.1% from 2018-2025. The report highlights the trends prevalent in the global pancreatic cancer therapy market and the factors driving the market along with those that act as deterrents to its growth. Global pancreatic cancer therapy market, based on the type was segmented into endocrine pancreatic cancer and exocrine pancreatic cancer. In 2017, the exocrine pancreatic cancer segment held the largest share of the market, by type. The exocrine pancreatic cancer segment is expected to grow at the fastest rate during the coming years as t...
Read more

Automatic Checkweigher Market is estimated to accumulate US$ 342.4 Mn by 2027, says The Insight Partners

  Automatic Checkweigher Market  to 2027 - Global Analysis and Forecasts By Type (Standalone Systems, Combination Systems); Technology (Strain Gauge, Electro Magnetic Force Restoration (EMFR)); End-user Industry (Food and Beverages, Pharmaceuticals, Consumer Products, Cosmetics and Personal Care, Others) The global automatic checkweigher market accounted for US$ 235.2 Mn in 2018 and is expected to grow at a CAGR of 4.6% over the forecast period 2019–2027, to account for US$ 342.4 Mn by 2027.   The checkweighers made up of stainless steel components can withstand harsh conditions and repeated contact with water.  Other materials can be painted with the materials that can impart resistance to damages, but these will not hold up to unrelenting or washdown environments. Most of the load cells are made of aluminum.  These operate well and cost less than stainless steel load cells, but they are not designed to handle contact with water or other corrosives. They ...
Read more