Intelligent automation technology providers are increasingly integrating intelligent document processing (IDP) technology while overall investment in IDP continues to climb, especially in the Europe/Middle East/Africa (EMEA) region, according to a new report from Infosource. The capture and IDP software market in EMEA grew at a double-digit rate in 2022, reaching more than $2 billion.
Infosource defines Capture and IDP Software as “solutions and services used to process business inputs which involve unstructured and semi-structured documents and other input types.” The range of data sources companies are processing in their various business units includes paper, email, fax, smart devices, social media, voice, photos, videos and more. Automating processes that rely on these inputs is complex and frequently involves IDP technology. According to Infosource, intelligent automation providers are reaping the benefits in EMEA and other regions globally.
“The market growth was driven by a combination of demand for Intelligent Capture solutions, IDP solutions offered by RPA vendors and increasingly solutions offered by AI start-ups,” Infosource said in a blog post on the subject. “The interest in process automation continues to be strong in EMEA, causing the demand for Capture-related RPA solutions to increase materially. These solutions represent a growing business element for RPA vendors, who continue to expand their focus to automate comprehensive transactional processes that require the ingestion of semi-structured and unstructured business inputs.”