Document Analysis Market Worth $3,855 million by 2024 - Exclusive Report by MarketsandMarkets™

CHICAGO, Nov. 11, 2019 /PRNewswire/ -- According to a new market research report "Document Analysis Market by Solution (Product and Services), Deployment Type (On-premises and Cloud), Organization Size, Vertical (BFSI, Healthcare and Life Sciences, and Government), and Region - Global Forecast to 2024", published by MarketsandMarkets™, 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.

Browse in-depth TOC on "Document Analysis Market"

105 – Tables

25 – Figures

152 – Pages

Download PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=102974822

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.

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.

Request Sample Pages:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=102974822

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), DocuWare (US), InData Labs (US), Ephesoft (US) , and IRIS (Belgium) are some of the leading companies operating in this market.

Browse Adjacent Markets: Software and Services Market Research Reports & Consulting

Browse Related Report: 

Intelligent Process Automation Market by Component (Solutions and Services), Technology (NLP, Machine & Deep Learning), Application (IT Operations, Business Process Automation, and Application Management), Vertical, and Region - Global Forecast to 2023

https://www.marketsandmarkets.com/Market-Reports/intelligent-process-automation-market-23417145.html

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh
MarketsandMarkets™ Inc.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/document-analysis-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/document-analysis.asp

SOURCE MarketsandMarkets