Optical Character Recognition Market by Type (Software and Service) and Industry Vertical (BFSI, Government, IT & Telecom, Retail & Hospitality, Healthcare, Education, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027
A09520 | Pages: NA | Jan 2021 | 113 Views | | |
Author(s) : Sajja Sri Parvathi | Tables: NA | Charts: NA | Formats*: | |
COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Optical Character Recognition Market
Request Now !Optical Character Recognition Market Insight
Optical character recognition (OCR) is a technology that exactly identifies written and published text characters by a computer. It involves various componentsuch as location segmentation,scanning,feature extraction, recognition post processing and preprocessing. In addition, it consists analysis of the scanned-in image, the conversion of character image to character codes and photo scanning of the text. OCR software is also used to extract data from scanned documents or camera images, allowing the user to access and edit the contents of the original document.OCR is unique because there is no need to control the process of generating information, but other techniques are also prevalent for automatic identification, including speech recognition, radio frequency recognition, and bar code readers. The adoption of OCR technology by industry vertical companies in their business processes has revolutionized the entire document management process.
Optical Character Recognition Market Scope and Structure Analysis:
Report Metric | Details |
Market size available for years | 2020–2027 |
Base year considered | 2019 |
Forecast period | 2021–2027 |
Forecast units | Value ($) |
Segments covered | Type, Industry Vertical, and Region |
Regions covered | North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa |
Companies covered | Major players analyzed include AnylineGitHub Inc., Alibaba Group Holding Ltd, Abby Software Ltd, Adobe Systems Incorporated, CCi Intelligence Co. Ltd, CVSION Technologies Inc., Exper-OCR Inc., Microsoft Corporation, NTT Data Corporation, and Paradatec Inc. |
Â
Impact of COVID-19 onOptical Character Recognition Market:
- Though governments have imposed lockdowns to contain spread of the virus, people are bound to sit and work from home. To convert various documents type, such as PDF files or images captured by a digital camera into editable, demand for optical character recognition technology is expected to boost the market growth.
- In addition, OCR helps businesses achieve higher productivity by facilitating quicker data recover. This benefits are expected to create demand for electronic paper display during the pandemic.Â
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Increasing penetration of automatic recognition systems and increase in productivity are the major driving factor for the growth of optical character recognition market. However, high resolution or high quality can hamper the growth of market. Contrarily, massive investment in technology is opportunistic factor for the global market.
Helps organizations to Increase in productivity
OCR has greatly improved the data entry process. This software tool enables rapidtranslation of scanned papers to searchable text files. The essential for the papers to be scanned is on a constant increase as it allows these documents to be observed conveniently when essential. Â OCR allows to share scanned documents through the electronic medium. Although OCR has numerous benefits, it primarily helps businesses increase work productivity and success. Its ability to rapidly search through huge content is extremely valuable, particularly in office, which agreementhigh volume scanning and with high document flow. Therefore, increase in adoption OCR technology in numerous business.
Increase in adoption due to greater accuracy and good performance
The OCR technique provides high resolution and high quality images with some basic organizational properties such as high resolution image background and text. Â This way of imagecreateis determining and an important factor in the success and accuracy of OCR. OCR offers high accuracy and good performance, usually with images created by a scanner. Therefore, increased acceptance of OCR technology due to greater accuracy and better performance is an important factor in driving the global optical character recognition market.
Key segments covered:
Segments | Subsegments |
Type |
|
End User |
|
Â
Key benefits of the report:
- This study presents the analytical depiction of the global optical character recognition industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global optical character recognition market share.
- The current market is quantitatively analyzed from 2021 to 2027 to highlight market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global optical character recognition market analysis based on competitive intensity and how the competition will take shape in coming years.
We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:
- Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
- Technologically sophisticated and reliable insights through well audited and veracious research methodology
- Sovereign research proceeds that present a tangible depiction of marketplace
With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.
Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, web-casts and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast
Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develops analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth and forecasts
Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:
- Chief executives and VPs of leading corporations specific to industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)
Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
Access from any device, anywhere
Clients can easily download both quantitative as well as
qualitative reports in PDF and excel formats.
REQUEST TOC/SAMPLE
Purchase Full Report of
Optical Character Recognition Market
- Online Only
-
$3,456$3,110 - Online cloud access only
- Restricted print, copy, paste & download
- Read only
- Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
10%
Discount
- Data Pack
-
$3,840$3,456 - Restricted to one authorized user
- One print only
- Available in
Excel - Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
10%
Discount
- Single User
-
$5,769$5,192 - Restricted to one authorized user
- One print only
- Available in Excel & PDF
- Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
10%
Discount
- Five Users
-
$6,450$5,805 - Limited to five authorized users
- Print upto five copies
- Available in Excel & PDF
- Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
10%
Discount
-
Enterprise
License/PDF -
$8,995$8,096 - Unlimited
within
company/enterprise - Available in Excel & PDF
- Free quarterly industry update
- Free report update (Within 180 days)
- Subscription model sign in
10%
Discount
- Library Membership
- $ 699/mo
- Published Content
E-access - Company Profiles
E-access - Newly Added Content Access
- 10 PDF
Downloads - 5 Excel Data
Pack Downloads - 250 Company Profiles PDF Downloads
-
Start reading.
Buy Now
This title and over 12,000+ are available on the Avenue Library. T&C*.
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
Why Allied Market Research?
Infallible Methodology
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
Analyst Support
For complete satisfaction
Customization
On-demand customization of scope of the report to exactly meet your needs
TARGETED MARKET VIEW
Targeted market view to provide pertinent information and save time of readers
Featured Reports
Get fresh content delivered
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Why Allied Market Research?
Infallible Methodology
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
Analyst Support
For complete satisfaction
Customization
On-demand customization of scope of the report to exactly meet your needs
TARGETED MARKET VIEW
Targeted market view to provide pertinent information and save time of readers