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.
Most of the business data in recent years are unstructured, and the end-users face a significant challenge in gathering meaningful insights from the data. The data are represented in various modules, including documents, emails, spreadsheets, audio & visual, presentations, images, and web searches, among others. In order to gain maximum information from the unstructured data, several end-users or industries are opting for document analysis software, which facilitates them in extracting important insights.
Get Sample Copy at https://www.theinsightpartners.com/sample/TIPRE00007483
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 report segments the global Document Analysis market as follows:
Global Document Analysis Market – By Solution
Global Document Analysis Market – By Deployment Type
Global Document Analysis Market – By Organization Size
Global Document Analysis Market – By Industry Vertical
Buy Complete Report at https://www.theinsightpartners.com/buy/TIPRE00007483