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.
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, now Tungsten Automation, 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 the recognition to the following strengths – deep expertise and customer base, end-to-end workflows and partner network. We believe these strengths are underpinned by Tungsten TotalAgility, a complete AI-powered end-to-end Intelligent Automation solution tailored for various industries.
*Anne Valaitis and Matt Arcaro, "IDC Worldwide Intelligent Document Processing Forecast, 2022–2026," Market Forecast, document #US47773922, June 2022.
This was issued before Kofax transitioned to Tungsten Automation. To learn more about the transition, please explore our detailed FAQ section.
