Intelligent Document Processing (IDP) State of the Market Report 2021 – Key to Unlocking Value in Documents

Everest Group defines Intelligent Document Processing (IDP) as the capturing of data from documents (e.g., emails, texts, PDFs, and scanned documents) and its categorization and extraction for further processing using AI technologies such as computer vision, Optical Character Recognition (OCR), Natural Language Processing (NLP), and machine/deep learning. These solutions not only help enterprises achieve cost savings, but also improve their productivity and employee and customer experience.

The landscape of IDP vendors is growing rapidly, with many vendors seeking to address complex document processing use cases. With increasing applications across business functions and verticals, IDP products are rapidly becoming more sophisticated in their capabilities, features, and functionalities. The impact of COVID-19 on business continuity and resilience, remote working models, and digitalization has further driven demand.

This research provides IDP buyers, software vendors, and third-party enablers (service providers, system integrators) a detailed view of the IDP market by analyzing it across various dimensions, including market size and adoption trends, buyer satisfaction, product capabilities and trends, solution characteristics, vendor landscape, challenges to IDP adoption, and outlook for 2021-22.