Infosource Software has released its latest Vertical Market Analysis for the Global Intelligent Document Processing (IDP) Industry. This report provides a comprehensive assessment of vertical opportunities for IDP solutions, highlighting significant trends, technological advancements and sector-specific growth prospects. The report offers a quantitative analysis of IDP investments by industry sector and region, based on vendor inputs and future demand forecasts.

Key Highlights of the Report

• A strong correlation is observed between expected demand and the digital maturity of each vertical, influenced by infrastructure sophistication, technology expertise and investment access.
• AI and generative AI (GenAI) technologies continue to enhance IDP solutions, improving data classification, extraction and process automation.
• The strongest growth is expected in verticals with advanced digital transformation and automation of information-intensive business processes. The banking and financial services sector tops the opportunity list, followed by the insurance sector.
• Sectors like retail, telecommunication, utilities and education are prioritizing GenAI for customer interactions and personalized communications.
• The demand for IDP solutions varies by region, influenced by factors such as infrastructure availability, local technology conditions, investment opportunities and compliance requirements.

"Our latest vertical market analysis underscores the transformative impact of intelligent document processing across various sectors," said Petra Beck, senior analyst, Infosource Software. "The correlation between digital maturity and demand for IDP solutions is evident, with sectors like banking and insurance leading the way in AI adoption and end-to-end automation. Generative AI offers significant opportunities to enhance IDP solutions, not only in data processing but also in advancing customer interactions and personalized communications. As industries continue to close AI skill gaps and refine their investment plans, we anticipate a significant boost in demand for IDP solutions."

Sector-Specific Insights

• Banking and Insurance: Leading sectors in digital transformation and AI adoption, with significant investments in IDP solutions.
• Health Care and Manufacturing: Demonstrating substantial opportunities due to their advanced digital maturity and need for efficient data processing.
• Legal and Education: Showing varied deployment speeds, with potential for growth as digital transformation progresses.
• Public Sector: Exhibits significant variability in digital maturity, with some agencies highly digitized and automated, while others still rely on manual, paper-based processes.

This annual update of the Vertical IDP Industry assessment covers historic assessments and forecasts of industry sectors and geographies. If you are interested in more information or purchasing a copy of the report or a subscription to our analyst services, please contact Petra Beck, senior analyst at Infosource Software at pb@info-source.com.