India Intelligent Document Processing Market.pptx

Intelligent document processing is the automated conversion of data from difficult semi-structured or unstructured documents into structured, usable data

1. INDIA INTELLIGENT DOCUMENT PROCESSING MARKET FORECAST & OPPORTUNITIES 2019 – 2029 MARKET INTELLIGENCE . CONSULTING www.techsciresearch.com

2. Market Overview

3. Scope of Report Product of Interest (POI): Intelligent Document Processing Review Period 2019 – 2022 Base Year 2023 Estimated Year 2024 Forecast Period 2025 – 2029 Year Range Intelligent Document Processing (IDP) refers to the use of advanced technologies, such as artificial intelligence (AI), machine learning (ML), and natural language processing (NLP), to automate the processing of unstructured data contained in documents. This technology is designed to streamline and enhance document-centric business processes by extracting valuable information from various types of documents, including invoices, contracts, forms, emails, and more. Market Segmentation REGION North East West South Small and Medium Enterprises (SMEs) Large Enterprises TECHNOLOGY Natural Language Processing (NLP) Optical Character Recognition (OCR) Robotic Process Automation (RPA) Machine Learning (ML) Deep Learning (DL) Artificial Intelligence (AI) Others ORGANIZATION SIZE END-USE Banking Financial Services and Insurance (BFSI) Government Healthcare Retail and E-Commerce Transportation and Logistics Others DEPLOYMENT Cloud On-Premises COMPONENT Solution Service

4. S. No. Contents 1. Service Overview  1.1. Market Definition 1.2. Scope of the Market 1.2.1. Markets Covered 1.2.2. Years Considered for Study 1.2.3. Key Market Segmentations 2. Research Methodology 2.1. Objective of the Study 2.2. Baseline Methodology 2.3. Formulation of the Scope 2.4. Assumptions and Limitations 2.5. Sources of Research 2.5.1. Secondary Research 2.5.2. Primary Research 2.6. Approach for the Market Study 2.6.1. The Bottom-Up Approach 2.6.2. The Top-Down Approach 2.7. Methodology Followed for Calculation of Market Size & Market Shares 2.8. Forecasting Methodology 2.8.1. Data Triangulation & Validation Table of Contents

5. Table of Contents S. No. Contents Page No. 3. Executive Summary 4. Voice of Customer 5. India Intelligent Document Processing Market Overview 6. India Intelligent Document Processing Market Outlook, 2019-2029F 6.1. Market Size & Forecast 6.1.1. By Value 6.2. Market Share & Forecast 6.2.1. By Component (Solution and Service) 6.2.2. By Technology (Natural Language Processing (NLP), Optical Character Recognition (OCR), Robotic Process Automation (RPA), Machine Learning (ML), Deep Learning (DL), Artificial Intelligence (AI), and Others) 6.2.3. By Organization Size ( Small and Medium Enterprises (SMEs), Large Enterprises ) 6.2.4. By Deployment ( Cloud, and On-Premises ) 6.2.5. By End-Use (Banking Financial Services and Insurance (BFSI), Government, Healthcare, Retail and E-Commerce, Transportation and Logistics, and Others) 6.2.6. By Region (South India, West India, North India, East India) 6.3. By Company (2023) 6.4. Market Map

6. Table of Contents S. No. Contents Page No. 7. South India Intelligent Document Processing Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value 7.2. Market Share & Forecast 7.2.1. By Component 7.2.2. By Technology 7.2.3. By Organization Size 7.2.4. By Deployment 7.2.5. By End-Use 8. North India Intelligent Document Processing Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value 8.2. Market Share & Forecast 8.2.1. By Component 8.2.2. By Technology 8.2.3. By Organization Size 8.2.4. By Deployment 8.2.5. By End-Use

7. Table of Contents S. No. Contents Page No. 9. West India Intelligent Document Processing Market Outlook 9.1. Market Size & Forecast 9.1.1. By Value 9.2. Market Share & Forecast 9.2.1. By Component 9.2.2. By Technology 9.2.3. By Organization Size 9.2.4. By Deployment 9.2.5. By End-Use 10. East India Intelligent Document Processing Market Outlook 10.1. Market Size & Forecast 10.1.1. By Value 10.2. Market Share & Forecast 10.2.1. By Component 10.2.2. By Technology 10.2.3. By Organization Size 10.2.4. By Deployment 10.2.5. By End-Use

8. S. No. Contents Page No. 11. Market Dynamics 11.1. Drivers 11.2. Challenges 12. Market Trends & Developments 13. Policy & Regulatory Landscape 14. India Economic Profile 15. Company Profiles 15.1. Accelirate 15.2. AntWorks 15.3. Datamatics 15.4. Ephesoft 15.5. Meta Platforms, Inc 15.6. Hyperscience 15.7. KlearStack 16. Strategic Recommendations 17. About Us & Disclaimer Table of Contents

9. Research Methodology

10. Identifying Key Opinion Leaders Questionnaire Design In-depth Interviews Data Collection Developing list of Respondents Formulating Questionnaire Market Profiling Data Validation Data Analysis In-depth secondary research was conducted to determine top companies in India Intelligent Document Processing market, overall market size and segmental market size. In order to conduct industry experts’ interviews, TechSci formulated a detailed Survey Questionnaires. List of top companies and industry specialists was developed. TechSci conducted interviews with industry experts and leadings companies for data collection and verification. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about India Intelligent Document Processing market. Data Collection Data Filter & Analysis Research & Intelligence Actionable Insights Business Solution Primary Research Desk Research Company Analysis Recent Developments Market Changing Aspects/Dynamics Government Policies Final Conclusion Market Participants Key Strengths LinkedIn TechSci Internal Database Factiva Hoovers EMIS Volza Bloomberg Paid Sources Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc. Secondary Research Primary Research Board members Financial Advisors Business Heads Investors Product Heads Paid Databases Research Heads Key Industry Partners Methodology Landscape Research Methodology

11. Baseline Methodology Our research team has relied on primary and secondary research to gather market size and market data. The team has monitored and analyzed various aspects of the India Intelligent Document Processing market. The team has studied the outlook of multiple segments such as component, technology, organization size, deployment, end-use , regional analysis, and the companies of this market. The study includes historical data for 2019, 2020, and 2021, 2022, base data for 2023, and forecast data for 2024, 2025, 2026, 2027, 2028 and 2029, which will enable our clients to make better decisions while planning their strategy to achieve sustainability in the India Intelligent Document Processing Market. Objective of The Study To analyze the historical growth in the market size of the India Intelligent Document Processing market from 2019 to 2023. To estimate and forecast the market size of the India Intelligent Document Processing market from 2024 to 2029 and the growth rate until 2029. To classify and forecast the India Intelligent Document Processing market based on component, technology, organization size, deployment, end-use, regional analysis (4 regions) and company. To analyze and forecast the market size in deployment which is further segmented into on-premises and cloud. To analyze and forecast the market size in terms of region: North India, South India, West India and East India. To identify drivers, challenges, and trends for the India Intelligent Document Processing market. To examine competitive developments in the India Intelligent Document Processing market, such as expansions, new service offering launches, mergers & acquisitions, etc. To identify and analyze the profile of leading companies in the Intelligent Document Processing and the top 5 companies market share. Research Methodology

12. Formulation of the Scope The base year  is a reference point used as a starting point, for comparison in various analyses and forecasts. It serves as the foundation against which changes, growth, or trends are measured. The review period refers to the time span during which historical data is examined, analyzed, and reviewed. It is the period of time leading up to the base year and is used to establish the baseline for comparison and understand trends The forecast period is a future-oriented timeframe during which predictions or projections are made based on current/ historical data and analysis. It extends beyond the base year and allows for estimations of potential future outcomes. The market could be defined by a specific industry, service. The market then is further divided into meaningful segments based on demographics, psychographics, behavior, geography, or service categories. This helps in analyzing the market more effectively, along with estimating the size of each segment. Assumptions and Limitations: The base currency considered is USD. Based on the average exchange rate for the corresponding review period years, other currencies have been converted to USD. The projection period's exchange rate conversion was calculated using the conversion rates from the base year. The base year considered for this study is 2023. The historic period considered for this study is from 2019 to 2022. The forecast CAGR considered is for the period of 2024E-2029F. Note: 2023 being the base year, 2019-2022 is the review period and 2024-2029 is the forecast period for analyzing the market in between 2019-2029 Research Methodology

13. TechSci has used a combination of secondary and primary research sources (free telephonic and face-to-face interviews and incentivized telephonic and face-to-face interviews with the respondents) to capture the data . We have an extensive network of respondents of participants in the value chain, industry experts, and customers to obtain relevant insights and navigate data challenges. Secondary Research It comprises desk research, in which our research team conducted a preliminary assessment of the information available through secondary sources. Below is the categorization given for each reference from which the data was sourced, and further, that data was used for the data triangulation and estimation of the market sizes and market shares. Sources of Research Industry Associations News Portals/Secondary Sources Conferences/ Events (If Any) Confederation of Indian Industry (CII) National Association of Software and Service Companies (NASSCOM) Information Technology Industry Council (ITI Council) Federation of Indian Chambers of Commerce and Industry (FICCI) Confederation of Information Technology Professionals (CITS) The Association of Indian Manufacturers (AIM) Federation of Computer Associations of India (FOCSI) The Internet and Mobile Association of India (IAMAI) Electronics Industries Association of India ( Elcina ) Indian Electronics and Semiconductor Association (IESA) Association of Electronics and Computer Software Companies of India (AESCI) Company Annual Reports Press Releases Industry Magazines Industry Reports Company Websites TechSci Research Proprietary Database & Knowledge Repository IMF & World Bank Economic Times Intelligent Document Processing India Summit (IDP Summit India) AI & Automation Summit India Digital Transformation Summit India CII Intelligent Document Processing Summit NASSCOM Intelligent Document Processing Conference ITI Council Intelligent Document Processing Conclave FICCI Intelligent Document Processing Summit CITS Intelligent Document Processing Workshop Research Methodology

14. Primary Research : Our research team maintains survey questionnaires with a set of questions and topics and responses from the primary respondents. The survey questionnaires are administered through telephonic or face-to-face interviews and surveys online or by email with the value chain participants. Surveys (online or by email) or field surveys are done to gather customer opinions. Interviews with industry experts are done through telephone or face-to-face interviews only. Below is a set of exercises done with the help of primary interviews through our network of respondents, such as value chain participants, industry experts, and customers, to obtain relevant insights and gather the required information. Value Chain participants (Research & Development Organizations, Government agencies, service providers, etc.) End Users Industry Experts Sample Size = 25-30 Sample Size = 100 Sample Size = 5 Survey Questionnaires Telephonic Interviews Face-to-Face Interviews Surveys Online email Partial List of Companies Interviewed Accelirate AntWorks Datamatics Ephesoft Meta Platforms, Inc Hyperscience KlearStack Surveys Online email Field surveys Face-to-Face Interviews Voice of Customers Brand Awareness Key Factors for Selecting Service Providers Key Satisfaction Level Current Need Gaps Survey Questionnaires Telephonic Interviews Face-to-Face Interviews Research Methodology

15. Approach for the Market Study TechSci follows two types of approaches for the assessment of the market: The Bottom-Up approach to market analysis starts with a granular analysis of specific countries, segments, companies and then builds up to form a broader understanding of the overall market. This method focuses on gathering detailed data and insights at the micro level and then aggregating them to draw conclusions about the larger market. The Top-Down Approach to market analysis involves starting with a broad view of the overall market and then narrowing down to specific segments or niches. It typically begins with analyzing macroeconomic factors and industry trends and then drilling down to understand the specific market segments, target customers, and potential opportunities. Methodology Followed for Calculation of Market Size & Market Shares: Market Size By Value: Market size, in terms of value, for the year 2023 was calculated based on information collected through exhaustive secondary research and primary surveys with various key opinion leaders i.e., value chain participants, such as Research & Development Organizations, Government agencies, service providers, market influencers, industry experts. The team interviewed 25-30 critical value chain participants, majorly from service providers. The respondents have been working at responsible positions in more than 12 target service providers. The team interviewed around 10 end users/customers for the Voice of Customer section and 5 industry experts associated with the Intelligent Document Processing industry from the last two decades were also interviewed. This exercise obtained the overall market size during 2019-2023, validated by multiple round of interviews. Considering standard deviation, the market size was averaged out to arrive at the market size data during 2019-2023. Bottom-Up Approach 80% Top-Down Approach 2 0% Research Methodology

16. Market shares by component, technology, organization size, deployment, end-use , region, and the company and current and future market growth rates were calculated based on the responses received through primary surveys with the value chain participants, in which the respondents were asked about the market shares or revenue generated from various types of Intelligent Document Processing target market segments. The final percentage shares were calculated by taking the geometric mean of growth estimates, and company wise revenue shares generated across various segments were considered to arrive at the final market percentage shares after eliminating the outliers. Forecasting Methodology: TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results using statistical tools. Data Triangulation & Validation: Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast India Intelligent Document Processing market, TechSci Research used various forecast techniques such as: Moving Average Method For Time Series Analysis : The average of the data set of the market's historical data was considered for data forecasting. This technique is beneficial for forecasting short-term trends and is a widely used method for time series forecasting. Yearl y moving a verage of historical data was used for estimating the trend values for time series forecasting. After estimating the trend values based on yearly moving average methods, seasonal variations were calculated from the actual data. After getting these two as a basis, market sizes were predicted for the forecasting years. Research Methodology

17. Regression Analysis: In this technique, multiple linear regression analysis was practiced, which involves using a regression model to estimate the value of the dependent variable on the numerous independent and directly related variables. The values of the independent variable were typically those assumed to determine the values of the dependent variable. Based on the historical trend of market data of two or more independent variables, the data of the India Intelligent Document Processing market was forecasted with the help of statistical tools. Econometric and Judgmental Analysis: Relationships with the economic variables, majorly macro-economic variables, were considered to forecast the data, combined with incorporating intuitive judgment and opinions. This technique is majorly used when there is no historical data, and t he market is totally niche, new, and unique. Note : (a) Sum of some shares may not be 100% due to round off till two decimal places. Research Methodology

18. The Intelligent Document Processing (IDP) market in India is poised for substantial growth, anticipating a rapid Compound Annual Growth Rate (CAGR) during the forecast period. IDP involves the automated conversion of data from challenging semi-structured or unstructured documents into structured, usable data, also known as Cognitive Data Processing or Intelligent Data Capture. This entails employing artificial intelligence technologies, including machine learning and natural language processing, to automate the extraction and processing of data from diverse document types. IDP solutions are strategically crafted to optimize document-centric business processes by automating manual tasks such as data entry, document classification, data extraction, and validation. Leveraging advanced algorithms, these systems analyze documents, extract pertinent information, and transform unstructured data into a structured format seamlessly integrated into existing workflows. Capable of handling various document formats such as invoices, contracts, receipts, forms, and emails, IDP brings forth benefits like heightened efficiency, reduced manual errors, enhanced data accuracy, expedited processing times, and improved compliance. Organizations stand to gain considerable advantages by adopting intelligent document processing, including time and resource savings, increased productivity, and the ability to redirect human resources towards more strategic and value-added activities. With applications spanning industries like finance, insurance, healthcare, logistics, and legal, where document and data volumes are substantial, IDP proves instrumental in unlocking the value of unstructured data, providing actionable insights for informed decision-making. In essence, intelligent document processing presents a compelling opportunity for businesses to streamline operations, enhance efficiency, and harness the transformative potential of AI in managing document-related tasks intelligently. Market Overview

19. September 2023: The Indian government announced a new initiative to promote the adoption of IDP solutions in the country. The initiative, called the "Digital Document Processing Mission," will provide subsidies and other support to businesses and organizations that deploy IDP solutions. August 2023: The RBI released a draft report on the use of artificial intelligence (AI) in the Indian financial sector. The report recommends that banks and other financial institutions adopt AI-powered IDP solutions to improve their operational efficiency and reduce costs. July 2023: The Indian IT industry body, NASSCOM, launched a new center of excellence for IDP. The center will focus on developing and promoting IDP solutions for the Indian market. June 2023: Several leading IDP vendors, including ABBYY, Kofax, and IBM, announced that they are expanding their operations in India. This expansion is a sign of the growing demand for IDP solutions in the Indian market. May 2022: The Indian tax authorities announced that they will be using IDP solutions to automate the processing of tax returns. This is expected to significantly reduce the time it takes for taxpayers to file their returns and get their refunds. This development shows that the Indian government is using IDP solutions to improve the efficiency of its tax administration. It is also a sign of the growing awareness of the benefits of IDP solutions among Indian businesses and organizations. Recent Developments

20. Sample Data- Snapshot India Intelligent Document Processing Market Size, By Value (USD Million), 2019–2029F India Intelligent Document Processing Market Share, By Technology, By Value, 2019–2029F

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