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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

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    Report

  • 144 Pages
  • November 2019
  • Region: Global
  • Markets and Markets
  • ID: 4856438
Description Jump to:

Growing initiatives to digitalize content across enterprises expected to drive the growth of the document analysis market

The document analysis industry is driven by various factors, such as growing initiatives to digitalize content across enterprises and increasing adoption of cloud-based document analysis solution. However, Addressing governance and compliance requirements can hinder the growth of the market.

The government segment is projected to grow at the highest CAGR during the forecast period

Government agencies handle the secured and private data of individuals, departments, processes, and agencies. The volume of data generated in government agencies is enormous and in an unstructured format which needs to accurately capture, classify, and extract to streamline government process. Government agencies need to collaborate to ensure the migration and integrity of the data. Moreover, better management of IT infrastructure to support resource sharing provides better security compliance controls and better data security. Government agencies are also subjected to strict data security policies, regulations, and audit policies.

The large enterprises' segment expected to account for the largest share during the forecast period

The traction of document analysis in large enterprises is higher compared to SMEs. This is due to the affordability and top economies of scale that enable the organizations to leverage document analysis. Companies leave no stone unturned to compete in the cut-throat competitive world; hence, they spend a significant amount in adopting intelligent tactical techniques. The document analysis market is said to be undergoing significant technological transitions, such as enhancement in AI technologies, and the use of mobile devices. Large organizations highly adopt all these advancements. The document analysis market across large organizations is estimated to hold a larger market size during the forecast period.

APAC expected to grow at the highest rate during the forecast period

The document analysis market in APAC is expected to grow at the highest CAGR during the forecast period, due to the growing need for advanced intelligent solutions. Document analysis enables an organization to improve efficiency, increase customer engagement, reduce labor costs, and increase productivity. China, Japan, and India have emerged as undisputed leaders in the document analysis industry.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the document analysis market.


  • By company type: Tier 1 - 42%, Tier 2 - 38%, and Tier 3 - 20%
  • By designation: C-level - 40%, Directors - 35%, and Others - 25%
  • By region: North America-35%, Europe-27%, APAC- 23%, and RoW- 15%

Major vendors offering document analysis solution across the globe 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), DocuWare (US), InData Labs (Belarus), Ephesoft (US), and IRIS (Belgium).

The study includes an in-depth competitive analysis of these key players in the document analysis market, with their company profiles, recent developments, and key market strategies.

Research coverage

The market study covers the document analysis market size across segments. It aims at estimating the market size and the growth potential of this market across different segments, namely, component, solution, service, communication system, simulation, vertical, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of buying the report


  • The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall document analysis market and the subsegments.
  • This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
  • The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Table of Contents

1 Introduction
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
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
4 Premium Insights
4.1 Attractive Market Opportunities in the Document Analysis Market
4.2 North America: Market, By Vertical and Country
4.3 Market: Major Countries
5 Market Overview
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 Document Analysis 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 Document Analysis 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
6.1 Introduction
6.2 Product
6.2.1 Growing Need to Automate the Documentation Process to Drive the Adoption Document Analysis Products
6.3 Services
6.3.1 Growing Need for Document Analysis Solutions to Fuel the Demand for Document Analysis Services Across Verticals
7 Market, By Service
7.1 Introduction
7.2 Professional Services
7.2.1 Growing Focus of Organizations to Effectively Deploy Document Analysis 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 Market, By Deployment Type
8.1 Introduction
8.2 On-Premises
8.2.1 Need for Data Security to Drive the Growth of the On-Premises Document Analysis Solution
8.3 Cloud
8.3.1 Scalability and Cost-Effectiveness to be the Major Factors Driving the Adoption of Cloud-Based Document Analysis Solutions
9 Market, By Organization Size
9.1 Introduction
9.2 Large Enterprises
9.2.1 Rising Need for Operational Efficiency to Drive the Demand for Document Analysis 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 Market, By Vertical
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 Document Analysis in the Banking, Financial Services and Insurance 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 Document Analysis 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 Document Analysis Solutions in the Vertical
10.6 Manufacturing
10.6.1 Growing Need to Automate Business Processes to Drive the Adoption of Document Analysis Solutions in the Manufacturing Vertical
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 Document Analysis in the Transportation and Logistics Vertical
10.8 Others
11 Document Analysis Market, By Region
11.1 Introduction
11.2 North America
11.2.1 United States
11.2.1.1 Prominent Document Analysis Vendors in the Region to Drive the Adoption of Document Analysis Solutions in the United States
11.2.2 Canada
11.2.2.1 Early Adoption of Automation-Based Technologies to Drive the Growth of the Market in Canada
11.3 Europe
11.3.1 United Kingdom
11.3.1.1 Safety Laws and Compliances to Fuel the Adoption of Document Analysis Solutions in the United Kingdom
11.3.2 Germany
11.3.2.1 New Government Regulations and Adoption of Advanced Technologies to Fuel the Growth of the Market in Germany
11.3.3 France
11.3.3.1 Rising Need for Providing Enhanced Customer Experience to Fuel the Adoption of Document Analysis 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 the Document Analysis Market in China
11.4.2 Japan
11.4.2.1 Increased Spending on the Intelligent Automation Industry and R&D to Drive the Market for Document Analysis
11.4.3 India
11.4.3.1 Rise in Digitalization Among the Enterprises Incidents to Drive the Adoption of Document Analysis Solutions in India
11.4.4 Rest of Asia Pacific
11.5 Middle East and Africa
11.5.1 Middle East and North Africa
11.5.1.1 Adoption of Document Analysis in the Oil and Gas Vertical to Drive the Growth of the Document Analysis Market in Middle East and Africa
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 the 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 Document Analysis Solutions in Mexico
11.6.3 Rest of Latin America
12 Competitive Landscape
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
13.1 Introduction
Business Overview, Software, Platform, Products & Solutions, Key Insights, Recent Developments, SWOT Analysis, Author's 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
13.22 Right-to-Win
Details on Business Overview, Software, Platform, Products & Solutions, Key Insights, Recent Developments, SWOT Analysis, Author's View Might Not be Captured in Case of Unlisted Companies.
14 Appendix
14.1 Discussion Guide
14.2 Knowledge Store: Subscription Portal
14.3 Available Customizations
14.4 Related Reports
14.5 Author Details
List of 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 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 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 Market Size, By Organization Size, 2017-2024 (USD Million)
Table 13 Large Enterprises: Document Analysis Size, By Region, 2017-2024 (USD Million)
Table 14 Small and Medium-Sized Enterprises: Document Analysis Market Size, By Region, 2017-2024 (USD Million)
Table 15 Market Size, By Vertical, 2017-2024 (USD Million)
Table 16 Banking, Financial Services and Insurance: Market Size, By Region, 2017-2024 (USD Million)
Table 17 Government: 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: 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 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: Market Size, By Solution, 2017-2024 (USD Million)
Table 60 Europe: Market Size, By Service, 2017-2024 (USD Million)
Table 61 Europe: Document Analysis Market Size, By Deployment Type, 2017-2024 (USD Million)
Table 62 Europe: Market Size, By Organization Size, 2017-2024 (USD Million)
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: Market Size, By Solution, 2017-2024 (USD Million)
Table 66 United Kingdom: Market Size, By Service, 2017-2024 (USD Million)
Table 67 United Kingdom: Document Analysis 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: Market Size, By Solution, 2017-2024 (USD Million)
Table 77 Asia Pacific: Document Analysis 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: 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: Document Analysis 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: 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: Document Analysis 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: 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: Document Analysis Market Size, By Vertical, 2017-2024 (USD Million)
Table 98 Latin America: 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: Document Analysis Market Size, By Country, 2017-2024 (USD Million)
Table 104 New Product Launches, 2017-2019
Table 105 Partnerships and Collaborations, 2017-2019
Table 106 ABBYY: Organic Growth Strategies
Table 107 ABBYY: Inorganic Growth Strategies
Table 108 Kofax: Organic Growth Strategies
Table 109 Kofax: Inorganic Growth Strategies
Table 110 IBM: Organic Growth Strategies
Table 111 IBM: Inorganic Growth Strategies
Table 112 WorkFusion: Organic Growth Strategies
Table 113 WorkFusion: Inorganic Growth Strategies
Table 114 Automation Anywhere: Organic Growth Strategies
Table 115 AntWorks: Organic Growth Strategies
Table 116 AntWorks: Inorganic Growth Strategies
Table 117 Parascript: Organic Growth Strategies
Table 118 Parascript: Inorganic Growth Strategies
Table 119 Hyland: Organic Growth Strategies
Table 120 Hyland: Inorganic Growth Strategies
List of Figures
Figure 1 Document Analysis Market: Research Design
Figure 2 Market: Top-Down and Bottom-Up Approaches
Figure 3 Segments With High Market Shares in the Market in 2019
Figure 4 North America to Account for the Highest Market Share in 2019
Figure 5 Growing Initiatives to Digitalize Content Across Enterprises to Drive the Growth of the Market
Figure 6 Banking, Financial Services and Insurance and United States to Account for High Market Shares Respectively in the North American 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

Companies Mentioned

  • ABBYY
  • AntWorks
  • Automation Anywhere
  • Celaton
  • Datamatics
  • Ephesoft
  • Extract Systems
  • HCL Technologies
  • Hyland
  • HyperScience
  • IBM
  • InData Labs
  • Infrrd
  • IRIS
  • Kodak Alaris
  • Kofax
  • OpenText
  • Parascript
  • Rossum
  • WorkFusion

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