The global Document Analysis Market size is expected to grow from USD 438 million in 2019 to USD 3,855 million by 2024, at a CAGR of 54.5% during the forecast period. Growing initiatives to digitalize content across enterprises and increasing the adoption of cloud-based document analysis solutions are some of the major factors driving the growth of the market.
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The on-premises segment is expected to account for the larger market share during the forecast period.
On-premise deployment refers to the installation of applications on the premises of an organization rather than at a remote facility. On-premise solutions are delivered for a one-time license fee along with a service agreement as on-premise deployment requires developing infrastructure and a personal data center, only large organizations that can afford the cost to deploy these solutions. Therefore, SMEs often face the dilemma of choosing between hosted and on-premises solutions. However, the on-premises deployment model has several advantages, including system and data control, and dedicated maintenance and support staff. Consequently, many organizations opt for the cloud model due to its cost-effectiveness.
The managed services segment to grow at a higher CAGR during the forecast period
Managed services play a crucial role in reducing existing overheads of enterprises and enabling them to be product-focused and innovation-friendly. These services further enable organizations to concentrate on their core business processes, without worrying about the maintenance and servicing of the deployed solution. Managed Service Providers (MSPs) are third-party companies that charge on the basis of operational costs, without billing their clients for capital costs, as per the subscription model or a Service- Level Agreement (SLA). For instance, organizations can make use of the document analysis solution, without having to worry about cloud storage used to store the streaming data and hosting the automation software or platform. All the pre- and post-deployment questions and needs of clients are taken care of, under the managed services segment. Organizations mostly outsource such services to offer on-time delivery to clients. Thus, MSPs undertake the complete responsibility of customer needs and deliver optimum services. This segment is expected to be mainly driven by the increasing adoption of outsourced managed services in the document analysis market.
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North America estimated to lead the document analysis industry during the forecast period
North America is expected to account for the largest share of the document analysis market in 2019. The region comprises developed countries, such as the US and Canada, and is considered the most advanced region in terms of adopting technologically advanced emergency equipment. The North American region exhibits a wide presence of key industry players offering document analysis solutions and services, and its financial position enables it to invest majorly in leading tools and technologies for effective business operations.
Top Companies
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 (Belarus), Celaton (UK), HCL Technologies (India), Kodak Alaris (UK), Rossum (Czech Republic), InData Labs (US), Ephesoft (US) , and IRIS (Belgium) are some of the leading companies operating in this market.
This report focuses on top manufacturers in global market, Involved the assessment of Sales, price, revenue and market share for each manufacturer, covering• ABBYY• WorkFusion• Kofax• IBM• AntWorks• Parascript• Automation Anywhere• Datamatics• Hyland• Extract Systems• HyperScience• OpenText• Infrrd• Celaton• HCL Technologies• Kodak Alaris• Rossum• InData Labs• Ephesoft• IRIS Download Free Sample Report @ https://www.radiantinsights.com/research/global-document-analysis-market-2020-2026/request-sample On the basis of product, this report displays the Sales, revenue, price, market share and growth rate of each type, primarily split into• On-premises• Cloud By Application, this report focuses on Sales, Market share and Growth Rate of each application, can be divided into• BFSI• Government• Healthcare and Life Sciences• Retail and eCommerce• Manufacturing• Transportation and Logistics• Others By Regions, this report splits global market into several key regions, with Sales, Revenue, Price and Gross Margin market share of top players in these regions, from 2014 to 2026 (forecast), like• China• USA• Europe• Japan• Korea• India• Southeast Asia• South America Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/global-document-analysis-market-2020-2026 Table of Contents Global Document Analysis Market Professional Survey Report 20191 Report Overview1.1 Definition and Specification1.2 Manufacturers and Region Overview1.2.1 Manufacturers Overview1.2.2 Regions Overview1.3 Type Overview1.3.1 On-premises1.3.2 Cloud1.4 Application Overview1.4.1 BFSI1.4.2 Government1.4.3 Healthcare and Life Sciences1.4.4 Retail and eCommerce1.4.5 Manufacturing1.4.6 Transportation and Logistics1.4.7 Others1.5 Industrial Chain1.5.1 Document Analysis Industrial Chain1.5.2 Upstream1.5.3 Downstream 2.1 The Overall Market Performance(Volume)2.1.1 On-premises2.1.2 Cloud2.2 The Overall Market Performance(Value)2.2.1 On-premises2.2.2 Cloud 3 Global Document Analysis Market Assessment by Application3.1 Overall Market Performance (Volume)3.2 BFSI3.3 Government3.4 Healthcare and Life Sciences3.5 Retail and eCommerce3.6 Manufacturing3.7 Transportation and Logistics3.8 Others 4 Competitive Analysis4.1 ABBYY4.1.1 ABBYY Profiles4.1.2 ABBYY Product Information4.1.3 ABBYY Document Analysis Business Performance4.1.4 SWOT Analysis4.2 WorkFusion4.2.1 WorkFusion Profiles4.2.2 WorkFusion Product Information4.2.3 WorkFusion Document Analysis Business Performance4.2.4 SWOT Analysis4.3 Kofax4.3.1 Kofax Profiles4.3.2 Kofax Product Information4.3.3 Kofax Document Analysis Business Performance4.3.4 SWOT Analysis Continued… Read all Reports of this category @ https://www.radiantinsights.com/catalog/ict About Radiant InsightsRadiant Insights is a platform for companies looking to meet their market research and business intelligence requirements.
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