The report of Global Optical Character Recognition Market by type (software and service), vertical (retail, BFSI, government, education, transport and logistics, healthcare, it & telecom, manufacturing and others), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ 16.60 Bn by 2027, at a CAGR of 13.60 % during a forecast period.

The mobile-based OCR segment is expected to contribute the significant share in the global optical character recognition market.

The mobile-based OCR is expected to grow significantly during the forecast period. The growth in the market is attributed to the rise in adoption of mobile-based OCR tools. The mobile-based OCR are used to capture any invoice, bills, or other documents anytime and location. It also empowers users to extract unstructured data from a variety of documents and create a database for future usage. The rise in penetration of mobile-based OCR for applications like scanning invoices for proof of delivery of goods is expected to boost the market growth.

The Asia Pacific region is projected to be leading region in the Global Optical Character Recognition Market.

By region, global market is segmented into the North America, Europe, Middle East & Africa, South America, and Asia Pacific. Among these, the Asia Pacific region is expected to grow at a XX% rate of CAGR during the forecast period. The growth in the market is attributed to the presence of the organization, which is operating in the manufacturing and government sectors. The manufacturing industries are integrating OCR software into their business processes to boost their business efficiency. The rapid economic growth of countries like China and India, increase in the adoption of smartphones, and the emergent e-commerce sector are some of the factors, which are driving the growth in the regional market.

Key players operating in the Global Optical Character Recognition Market are Anyline GmbH, Captricity Inc., IBM Corporation, Microsoft Corporation, ABBYY, Google, Inc., Nuance Communications, Inc., CVISION Technologies Inc, Adobe, Inc., Exper-OCR, Creaceed SPRL, Accusoft Corporation, Ricoh Company Limited, Anyline GmbH, NTT Data Corporation, LEAD Technologies, Inc., CC Intelligence Corporation and Iris S.A.

Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Optical Character Recognition Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Optical Character Recognition Market positioning of competitors.

Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Optical Character Recognition Market

https://www.maximizemarketresearch.com/market-report/global-optical-character-recognition-market/55377/

Contact:
MAXIMIZE MARKET RESEARCH PVT. LTD.
Omkar Heights,
ManikBaug, Vadgaon Bk,
Sinhagad Road, Pune – 411051, Maharashtra, India.
+91 9607195908

Leave a Replay

Your email address will not be published. Required fields are marked *

*
*