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GLOBAL OPTICAL CHARACTER RECOGNITION MARKET FORECAST 2022-2030

The global optical character recognition market was valued at $9271.52 million in the year 2021 and is predicted to reach $34789.18 million by 2030, growing at a CAGR of 15.74% across the forecasted years, 2022 to 2030.

GLOBAL OPTICAL CHARACTER RECOGNITION MARKET FORECAST 2022-2030

Global Optical Character Recognition Market by Component (Software, Service) Market by Industry (BFSI, Transport & Logistic, Healthcare, Government, Education, It & Telecom, Manufacturing, Retail, Others) Market by End-user (B2B, B2C) by Geography

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The global optical character recognition market was valued at $9271.52 million in the year 2021 and is predicted to reach $34789.18 million by 2030, growing at a CAGR of 15.74% across the forecasted years, 2022 to 2030.

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Businesses are significantly investing in technology that helps automate work processes and boost efficiency. Since data is an important part of every business, technologies like optical character recognition (OCR) have become highly popular. OCR enables users to translate a variety of documents and photos acquired by a camera into editable formats. Hence, in order to improve its capabilities, OCR is used with a variety of technologies such as robotic process automation as well as artificial intelligence.

Optical Character Recognition Market

Read our latest blog on the Optical Character Recognition Market

The technology used to detect handwritten or printed text characters of digital pictures or physical documents, such as scanned paper documents into Google docs, is known as optical character recognition. The technology examines the text of a document, subsequently converting the characters into code that can be used for data processing. In addition, text recognition is a term that is occasionally used to refer to optical character recognition. OCR systems also comprise a software and hardware combination that converts physical documents into a machine or screen-readable text.

Key growth enablers of the global optical character recognition market:

  • Increasing adoption of OCR solution developers in advanced technology
  • Improved customer support and increased document protection
  • Rise in adoption of OCR across diversified verticals
    • In the logistics and transportation industry, optical character recognition can help scan the tracking numbers and postal codes instead of noting them down physically. As a result, the process expedites the overall processing, tracking, and shipping of packages, consequently reducing costs.
    • Moreover, it also helps several companies ease access to data, save employee time, and augment productivity. Such benefits associated with optical character recognition technology are expected to drive the growth of the optical character recognition market.

Key growth restraining factors:

  • Lack of accuracy in recognition of handwritten material
    • In various languages, the script is highly complicated, particularly in terms of comprehension. As a result, it is challenging for technology to recognize these complex characters.
    • Moreover, in some cases, OCR fails to recognize handwritten letterings. Since handwritten material is hard to scan as well, the lack of accuracy in distinguishing such characters can be a hindrance to optical character recognition, thus restraining the growth of the market.
  • Limitations in delivering accurate output

Global Optical Character Recognition Market | Top Trends

  • The optical character recognition market is benefiting from increased digitization across all sectors of the economy. Digital technologies have also ushered in a fundamental shift in how services are delivered and consumed across international borders. Moreover, OCR is advantageous for digitization since it makes looking for specific data within a group of documents easier. While searching for specific information is feasible with digitized documents, it also requires manually inspecting each physical document. As a result, document digitization can help save significant time.
  • ID-verification service is on the rise following the outbreak of COVID-19, especially amid mask-on conditions. The optical character recognition technology converts the data on any ID into text, which may subsequently be utilized for input and validation. In this regard, the ID paper is scanned, analyzed, and eventually converted into character codes.

Market Segmentation – Component, Industry, and End-User –

Market by Component:

  • Software
    • In 2021, the majority of the market share was captured by the software segment under the component category.
    • Optical character recognition (OCR) software transforms images, including handwriting, into text. It also examines a document and compares it to types/prints in their database, in addition to identifying character characteristics.
    • Some OCR software also complete a spell checker to identify words that aren’t documented. Although 100% precision is difficult to obtain, the majority of software aims for a near approximation.
  • Service

Market by Industry:

  • BFSI
    • In 2021, the BFSI segment dominated the industry category. Moreover, it is also anticipated to be the fastest-growing industry in the market.
    • OCR enables banks to handle, monitor, and assess larger volumes of customer data, including personal and security information. This aids in the enhancement of overall performance and profitability, as well.
    • OCR and machine learning techniques can significantly minimize the time taken to process loan and mortgage applications by up to 70%. As a result, processing costs are reduced, current teams can handle more applications, and manual data input is condensed, leading to client loyalty and satisfaction.
  • Transport & Logistic
  • Healthcare
  • Government
  • Education
  • IT & Telecom
  • Manufacturing
  • Retail
  • Others

Market by End-User:

  • B2B
  • B2C

Geographical Study Based on Four Major Regions:

  • North America: The United States and Canada
  • Europe: The United Kingdom, Germany, France, Italy, Spain, Poland, and Rest of Europe
  • Asia-Pacific: China, Japan, India, South Korea, Indonesia, Thailand, Australia, and Rest of Asia-Pacific
    • Asia-Pacific is the fastest-growing region in the optical character recognition market.
    • The substantial increase in investments in AI and associated technologies can be linked to the growth of the region’s market. The augmenting technology sector in Asia-Pacific’s emerging economies further facilitates the use of products with OCR capabilities in particular.
    • Moreover, the Asia-Pacific’s major focus is concentrated on self-driving cars and smart cities. For these purposes, many international companies, regional governments, and startups are indulging in the region’s optical character recognition market.
  • Rest of World: Latin America, the Middle East & Africa

Major players in the global optical character recognition market:

  • Google LLC
  • Microsoft Corp
  • Adobe Systems Inc
  • IBM
  • ABBYY
  • Anyline GmbH
  • IntsSg Information Co Ltd

Key strategies adopted by some of these companies:

In March 2020, Nuance Communications Inc, a pioneer in conversational AI and ambient intelligence across industries such as financial services, retail, healthcare and telecommunications, was acquired by Microsoft Corporation.

In November 2019, Anyline GmbH launched a mobile ID scanning solution with NFC (Near-Field Communication) chip reader. The company has launched the Anyline NFC Scanning for Android and IOS users.

In April 2020, LEAD Technologies Inc partnered with Paliscope, the Safer Society Group’s member, to help researchers and scientists combat coronavirus (COVID-19).

Report Synopsis:

Report Scope Details
Market Forecast Years 2022-2030
Base Year 2021
Market Historical Years 2018-2021
Forecast Units Revenue ($ Million)
Segments Analyzed Component, Industry, End-User
Geographies Analyzed North America, Europe, Asia-Pacific, and Rest of World
Companies Analyzed

Google LLC, Microsoft Corp, Adobe Systems Inc, IBM, Nuance Communications Inc, ABBYY, Anyline GmbH, Captricity Inc, (acquired by SS&C), Creaceed, Foxit Software Inc, Expervision Inc, IntSig Information Co Ltd, Iris Group SA, Lead Technologies

  1. RESEARCH SCOPE & METHODOLOGY
    • STUDY OBJECTIVES
    • SCOPE OF STUDY
    • METHODOLOGY
    • ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    • MARKET SIZE & ESTIMATES
    • MARKET OVERVIEW
  3. MARKET DYNAMICS
    • KEY DRIVERS
      • INCREASING ADOPTION OF OCR SOLUTION DEVELOPERS IN ADVANCED TECHNOLOGY
      • IMPROVED CUSTOMER SUPPORT AND INCREASED DOCUMENT PROTECTION
      • RISE IN ADOPTION OF OCR ACROSS DIVERSIFIED VERTICALS
    • KEY RESTRAINTS
      • LACK OF ACCURACY IN RECOGNITION OF HANDWRITTEN MATERIAL
      • LIMITATIONS IN DELIVERING ACCURATE OUTPUT
  1. KEY ANALYTICS
    • IMPACT OF COVID-19 ON OPTICAL CHARACTER RECOGNITION MARKET
    • KEY MARKET TRENDS
    • PORTER’S FIVE FORCES ANALYSIS
      • BUYERS POWER
      • SUPPLIERS POWER
      • SUBSTITUTION
      • NEW ENTRANTS
      • INDUSTRY RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
    • VALUE CHAIN ANALYSIS
  2. MARKET BY COMPONENT
    • SOFTWARE
    • SERVICE
  3. MARKET BY INDUSTRY
    • BFSI
    • TRANSPORT & LOGISTIC
    • HEALTHCARE
    • GOVERNMENT
    • EDUCATION
    • IT & TELECOM
    • MANUFACTURING
    • RETAIL
    • OTHERS
  4. MARKET BY END-USER
    • B2B
    • B2C
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    • EUROPE
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • SPAIN
        • ITALY
        • POLAND
        • REST OF EUROPE
    • ASIA-PACIFIC
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • CHINA
        • JAPAN
        • INDIA
        • AUSTRALIA
        • SOUTH KOREA
        • INDONESIA
        • THAILAND
        • REST OF ASIA-PACIFIC
    • REST OF WORLD
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA
  1. COMPETITIVE LANDSCAPE
    • KEY STRATEGIC DEVELOPMENTS
      • MERGERS & ACQUISITIONS
      • PRODUCT LAUNCHES & DEVELOPMENTS
      • PARTNERSHIPS & AGREEMENTS
      • BUSINESS EXPANSIONS & DIVESTITURES
    • COMPANY PROFILES
      • ABBYY
      • ADOBE SYSTEMS INC
      • ANYLINE GMBH
      • CAPTRICITY INC (ACQUIRED BY SS&C)
      • CREACEED
      • EXPERVISION INC
      • FOXIT SOFTWARE INC
      • GOOGLE LLC
      • IBM
      • INTSIG INFORMATION CO LTD
      • IRIS GROUP SA
      • LEAD TECHNOLOGIES
      • MICROSOFT CORP
      • NUANCE COMMUNICATIONS INC

LIST OF TABLES  

TABLE 1: MARKET SNAPSHOT – OPTICAL CHARACTER RECOGNITION

TABLE 2: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY COMPONENT, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 3: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY COMPONENT, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 4: GLOBAL SOFTWARE OPTICAL CHARACTER RECOGNITION MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 5: GLOBAL SOFTWARE OPTICAL CHARACTER RECOGNITION MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 6: GLOBAL SERVICE OPTICAL CHARACTER RECOGNITION MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 7: GLOBAL SERVICE OPTICAL CHARACTER RECOGNITION MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 8: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY INDUSTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 9: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY INDUSTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 10: GLOBAL BFSI MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 11: GLOBAL BFSI MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 12: GLOBAL TRANSPORT AND LOGISTICS MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 13: GLOBAL TRANSPORT AND LOGISTICS MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 14: GLOBAL HEALTHCARE MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 15: GLOBAL HEALTHCARE MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 16: GLOBAL GOVERNMENT MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 17: GLOBAL GOVERNMENT MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 18: GLOBAL EDUCATION MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 19: GLOBAL EDUCATION MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 20: GLOBAL IT & TELECOM MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 21: GLOBAL IT & TELECOM MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 22: GLOBAL MANUFACTURING MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 23: GLOBAL MANUFACTURING MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 24: GLOBAL RETAIL MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 25: GLOBAL RETAIL MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 26: GLOBAL OTHER MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 27: GLOBAL OTHER MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 28: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY END-USER, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 29: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY END-USER, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 30: GLOBAL B2B OPTICAL CHARACTER RECOGNITION MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 31: GLOBAL B2B OPTICAL CHARACTER RECOGNITION MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 32: GLOBAL B2C OPTICAL CHARACTER RECOGNITION MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 33: GLOBAL B2C OPTICAL CHARACTER RECOGNITION MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 34: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 35: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY GEOGRAPHY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 36: NORTH AMERICA OPTICAL CHARACTER RECOGNITION MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 37: NORTH AMERICA OPTICAL CHARACTER RECOGNITION MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 38: LEADING PLAYERS OPERATING IN NORTH AMERICA OPTICAL CHARACTER RECOGNITION MARKET

TABLE 39: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 40: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 41: LEADING PLAYERS OPERATING IN EUROPE OPTICAL CHARACTER RECOGNITION MARKET

TABLE 42: ASIA-PACIFIC OPTICAL CHARACTER RECOGNITION MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 43: ASIA-PACIFIC OPTICAL CHARACTER RECOGNITION MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 44: LEADING PLAYERS OPERATING IN ASIA-PACIFIC OPTICAL CHARACTER RECOGNITION MARKET

TABLE 45: REST OF WORLD OPTICAL CHARACTER RECOGNITION MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 46: REST OF WORLD OPTICAL CHARACTER RECOGNITION MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 47: LEADING PLAYERS OPERATING IN REST OF WORLD OPTICAL CHARACTER RECOGNITION MARKET

TABLE 48: LIST OF MERGERS & ACQUISITIONS

TABLE 49: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 50: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 51: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES 

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: VALUE CHAIN ANALYSIS

FIGURE 6: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, GROWTH POTENTIAL, BY COMPONENT, IN 2021

FIGURE 7: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY SOFTWARE, 2022-2030 (IN $ MILLION)

FIGURE 8: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY SERVICE, 2022-2030 (IN $ MILLION)

FIGURE 9: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, GROWTH POTENTIAL, BY INDUSTRY, IN 2021

FIGURE 10: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY BFSI, 2022-2030 (IN $ MILLION)

FIGURE 11: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY TRANSPORT AND LOGISTIC, 2022-2030 (IN $ MILLION)

FIGURE 12: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY HEALTHCARE, 2022-2030 (IN $ MILLION)

FIGURE 13: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY GOVERNMENT, 2022-2030 (IN $ MILLION)

FIGURE 14: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY EDUCATION, 2022-2030 (IN $ MILLION)

FIGURE 15: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY IT & TELECOM, 2022-2030 (IN $ MILLION)

FIGURE 16: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY MANUFACTURING, 2022-2030 (IN $ MILLION)

FIGURE 17: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY RETAIL, 2022-2030 (IN $ MILLION)

FIGURE 18: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY OTHERS, 2022-2030 (IN $ MILLION)

FIGURE 19: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, GROWTH POTENTIAL, BY END-USER, IN 2021

FIGURE 20: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY B2B, 2022-2030 (IN $ MILLION)

FIGURE 21: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, BY B2C, 2022-2030 (IN $ MILLION)

FIGURE 22: GLOBAL OPTICAL CHARACTER RECOGNITION MARKET, REGIONAL OUTLOOK, 2021 & 2030 (IN %)

FIGURE 23: NORTH AMERICA OPTICAL CHARACTER RECOGNITION MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

FIGURE 24: UNITED STATES OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 25: CANADA OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 26: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

FIGURE 27: UNITED KINGDOM OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 28: GERMANY OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 29: FRANCE OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 30: SPAIN OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 31: ITALY OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 32: POLAND OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 33: REST OF EUROPE OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 34: ASIA-PACIFIC OPTICAL CHARACTER RECOGNITION MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

FIGURE 35: CHINA OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 36: JAPAN OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 37: INDIA OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 38: AUSTRALIA OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 39: SOUTH KOREA OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 40: INDONESIA OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 41: THAILAND OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 42: REST OF ASIA-PACIFIC OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 43: REST OF WORLD OPTICAL CHARACTER RECOGNITION MARKET, REGIONAL OUTLOOK, 2021 & 2030 (IN %)

FIGURE 44: LATIN AMERICA OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

FIGURE 45: MIDDLE EAST & AFRICA OPTICAL CHARACTER RECOGNITION MARKET, 2022-2030 (IN $ MILLION)

  1. MARKET BY COMPONENT
    • SOFTWARE
    • SERVICE
  2. MARKET BY INDUSTRY
    • BFSI
    • TRANSPORT & LOGISTIC
    • HEALTHCARE
    • GOVERNMENT
    • EDUCATION
    • IT & TELECOM
    • MANUFACTURING
    • RETAIL
    • OTHERS
  3. MARKET BY END-USER
    • B2B
    • B2C
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    • EUROPE
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • SPAIN
        • ITALY
        • POLAND
        • REST OF EUROPE
    • ASIA-PACIFIC
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • CHINA
        • JAPAN
        • INDIA
        • AUSTRALIA
        • SOUTH KOREA
        • INDONESIA
        • THAILAND
        • REST OF ASIA-PACIFIC
    • REST OF WORLD
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA

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    Frequently Asked Questions (FAQs):

    What is OCR technology?

    OCR or optical character recognition entails the usage of technology to distinguish handwritten or printed text characters in digital images of physical documents, such as scanned paper documents.

    Which is the fastest-growing industry in the global optical character recognition market?

    BFSI is the fastest-growing industry in the global optical character recognition market.

    To request a free sample copy of this report, please complete the form below:

    We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.


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