Published: 04 January 2024
Summary
Tech CEOs in the growing IDP market face intense competition while most offerings lack differentiation. The challenge is amplified by GenAI. To succeed, tech CEOs must invest strategically, tailoring products to specific segments rather than adopting a broad approach.
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Overview
Key Findings
Gartner forecasts the intelligence document processing (IDP) market size to be at $2.09 billion by 2026, with a compound annual growth rate (CAGR) of 13% from 2021 through 2026. While it is a growth market, it is also intensely competitive, and hence tech CEOs of IDP providers struggle to create a differentiated product value proposition.
Tech CEOs still lack clarity about the impact and role of generative AI (GenAI) technology in terms of their IDP product proposition.
Based on a Gartner survey in May 2023 to study the IDP competitive landscape, the top criteria for product evaluation and selection among
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