SPARK Matrix for Intelligent Document Processing 2024

This technical report presents a comprehensive analysis of the Intelligent Document Processing (IDP) market, detailing market dynamics, competitive landscape, and vendor rankings through the SPARK Matrix framework. The report outlines the significant growth trends in the IDP sector, driven by the increasing demand for automation and digital transformation across various industries. It defines IDP as a technological method utilizing artificial intelligence, machine learning, and natural language processing to enhance document handling and data extraction processes. The report also discusses the challenges faced by the IDP market, including data privacy concerns and integration difficulties with legacy systems. Furthermore, it highlights the advancements in AI and ML technologies that are improving IDP solutions, making them more accurate and versatile. The document serves as a strategic resource for technology vendors and users to evaluate vendor capabilities and market positioning, ultimately supporting informed decision-making in document processing.