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Industry Report

Kofax named a Leader in Intelligent Document Processing Software by IDC Marketscape

A Leader in the IDC MarketScape Assessment for Worldwide IDP Software Vendors

IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. The Capabilities score measures vendor product, go-to-market and business execution in the short-term. The Strategy score measures alignment of vendor strategies with customer requirements in a 3-5-year timeframe. Vendor market share is represented by the size of the icons.

IDC Marketspace report

The global intelligent document processing market is poised to achieve a remarkable 23.1% Compound Annual Growth Rate (CAGR) over the next five years.* This growth trend reflects the pressing need to manage the increasing volumes of structured and unstructured data while enhancing accessibility.

Kofax has been named a Leader for Intelligent Document Processing (IDP) once again, and this time the recognition comes from the IDC MarketScape: Worldwide Intelligent Document Processing Software 2023-2024 Vendor Assessment. This report attributes Kofax’s recognition to the following strengths – deep expertise and customer base, end-to-end workflows and partner network. We believe these strengths are underpinned by Kofax TotalAgility, a complete AI-powered end-to-end Intelligent Automation solution tailored for various industries.

We were impressed with the rate of innovation and investment Kofax is making in their solution, as they continue to accelerate new technology investments like Gen AI to their portfolio-based approach to enhance customers’ ability to build end-to-end automation workflows.
Amy Machado
Research Manager for IDC.

*Anne Valaitis and Matt Arcaro, "IDC Worldwide Intelligent Document Processing Forecast, 2022–2026," Market Forecast, document #US47773922, June 2022.

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