The Latin America, Middle East and Africa Intelligent Document Processing Market would witness market growth of 32.6% CAGR during the forecast period (2021-2027).
Intelligent document processing platforms consist of each essential step to convert paper or digital documents into precisely labeled information. It is important for the IDP platforms to be flexible enough to adapt to various kinds of industries and scale to process a huge amount of data extractions on a daily basis. In addition, it also should be flexible to maintain structured & unstructured data, combine with cloud & on-premises content management systems and deliver a visual interface for the training & categorization.
IDP solutions are widely adopted by small, medium, and large-sized organizations. The number of documents and time consumed on processing is one of the main criteria for the implementation of these solutions. RPA partners & systems integrators have driven a substantial portion in the adoption of these solutions among large-sized customers. Point solutions, which are usually aimed at a certain business function or sector, are majorly adopted by small and mid-sized companies. However, regardless of sector or company size, IDP is quickly gaining momentum in the market.
The high adoption of the latest technology across Sub-Saharan Africa is opening new growth avenues for the regional market players. In addition, the increasing demand for advanced technologies by the companies operating in this region is surging the growth of the regional market. Moreover, enterprises in LAMEA region are getting more aware of the benefits of using intelligent document processing solutions for their various processes is supporting the regional market growth.
Moreover, the increasing investment of the organizations in these regions on the various advanced or improved technologies like ML or AI is motivating the key market players to enter and prosper in this regional market. Hence, all these aspects are some of the leading reasons behind the growth of the intelligent document processing market in this region.
The Brazil market dominated the LAMEA Manufacturing Intelligent Document Processing Market by Country 2020, thereby, achieving a market value of $7.2 million by 2027. The Argentina market would witness a CAGR of 34.5% during (2021 - 2027). Additionally, The UAE market is expected to witness a CAGR of 33.3% during (2021 - 2027).
Based on Component, the market is segmented into Solution and Services. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, Government & Defense, IT & Telecom, Healthcare, Manufacturing, Transportation & Logistics and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Intelligent Document Processing Market is Predict to reach $4.1 Billion by 2027, at a CAGR of 29.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include OpenText Corporation, IBM Corporation, ABBYY Solutions Limited, Appian Corporation, Automation Anywhere, Inc., UiPath, Inc., WorkFusion, Inc., Datamatics Global Services Limited (Delta Infosolutions Private Limited), Deloitte Touche Tohmatsu Limited, and Kofax, Inc. (Thoma Bravo LLC).
By Component
By Deployment Type
By Enterprise Size
By End User
By Country
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