The Global Document Analysis market is expected to be worth USD 2.49 billion in 2023, with a compound annual growth rate (CAGR) of 49.30% from 2023 to 2030.
.jpg "The Global Document Analysis Market 2020-2030 (USD Billion)")
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, proposal management software, benchmarking studies, and others. The documents in document management systems 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.
Document Analysis Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 2.49 billion |
| Growth Rate | CAGR of 49.30 % during 2020-2030 |
| Segment Covered | By Component, Organization size, Industry Vertical, Regions |
| Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Key Players Profiled | AntWorks, IBM, ABBYY, Extract Systems, HCL Technologies, Kofax, WorkFusion, Automation Anywhere, Datamatics Global Services, Open Text, Other Companies |
Key Segments of the Global Document Analysis Market
Component Overview (USD Billion)
- Solution
- Services
Organization size Overview,(USD Billion)
- Large organizations
- Small & Medium Organizations
Industry Vertical Overview, (USD Billion)
- BFSI
- Government & Defense
- Healthcare
- Retail
- Manufacturing
- Others
Regional Overview, (USD Billion)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- 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) :
The document analysis market is growing at a CAGR of 49.30% over the forecast period.
Asia-Pacific dominated the market for document analysis market and accounted for the largest revenue share.
The base year for the report is 2023 in document analysis market.
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.
Component Segment
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.
_1.png "North America Document Analysis Market 2018-2025 (USD Million)")
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.