The size of the global market for Document Analysis is expected to reach by , expanding at a compound annual growth rate (CAGR) of %.
Documentary analysis is a method of qualitative research that comprises documents reviewing. The document analysis has typically performed the analyst who evaluates documents for various purposes such as making business plans, proposals, benchmarking studies, and others. The documents in document analysis comprise legal papers, editorials, policy statements, research reports, magazine articles, and others. The global document analysis market size is projected to reach over USD 5,700 million by 2025. This can be attributed to the increasing trend of cloud-based solutions across various organizations and industries. Also, the rising demand for content digitalization among numerous enterprises is boosting the global document analysis market growth.
However, the high implementation cost of document analysis solutions is expected to hamper the market growth. Furthermore, the growing need to enhance customer experience is anticipated to provide growth opportunities for the document analysis market in the upcoming years. Also, the integration of document analysis solutions with advanced technologies is anticipated to be opportunistic for the market.
Key Segments of the Global Document Analysis Market
Component Overview, 2018-2025 (USD Million)
Organization size Overview, 2018-2025 (USD Million)
- Large organizations
- Small & Medium Organizations
Industry Vertical Overview, 2018-2025 (USD Million)
- Government & Defense
Regional Overview, 2018-2025 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global document analysis market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global document analysis market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the document analysis industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on component, organization size, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global document analysis market. The report will benefit: Every stakeholder involved in the document analysis market.
- Managers within the document analysis industry looking to publish recent and forecasted statistics about the global document analysis market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global document analysis market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
Document analysis is primarily valuable while switching from one or more prevailing systems with the new systems. Analyzing documents helps businesses in gaining an idea of key business functions, business entities and their attributes, and business rules. Moreover, document analysis also becomes crucial while stakeholders are not available to provide insight into current business systems or processes. Moreover, analyzing documents has become necessary as it can help businesses in gaining competitive advantages over other market players. Hence, such factors driving the demand for document analysis solutions globally.
Based on the component segment, the market is divided into solutions and services. In the year 2019, the solutions segment accounted for the highest market revenue and it is anticipated to hold the major market share throughout the forecast period. On the contrary, the services segment accumulated the highest growth and it is expected to keep its position during the forecast period.
Organization Size Segment
Based on the organization size, the market is segmented into large organizations and small & medium organizations. The large organizations' segment leads the market growth in 2019 and it is projected to hold its position during the forecast years. On the contrary, the small & medium organizations segment accounted for the highest growth and it is expected to maintain its position over the forecast period. The growth of this segment is mainly attributed to the need for cost-effective document analysis solutions.
Industry Vertical Segment
In terms of industry vertical, the market is segmented into government & defense, healthcare, BFSI, retail, manufacturing, and others. The BFSI industry captured the major market share in 2019 and it is expected to do so throughout the forecast period. The growth of this segment is mainly attributed to the increasing need for efficient management of document analysis as the banking and finance industry involves the most complex and essential documents such as financial statements, invoices, legal contracts, transaction receipts, and others.
The North American region dominated the overall market in 2019 and it is expected to keep its position throughout the forecast period 2018-2025. The dominance of this region is mainly attributed to the increasing adoption of document analysis solutions among organizations in this region. Also, the existence of the majority of the document analysis solution providers is also driving the market growth of this region. However, the Asia-Pacific region is projected to experience the highest growth throughout the forecast period.
The major players of the global document analysis market are AntWorks, IBM, ABBYY, Extract Systems, HCL Technologies, Kofax, WorkFusion, Automation Anywhere, Datamatics Global Services, and Open Text. Moreover, the other prospective players in the document analysis market are HyperScience, Hyland Software, Parascript, Kodak Alaris, and Celaton. The recognized companies are coming up with innovative and new document analysis solutions. The recognized companies are coming up with innovative and new railway platform security solutions. The railway platform security market comprises well established local as well as global players. Also, the already recognized market players are coming up with new innovative services and solutions to stay competitive in the global market.