Optical Character Recognition Market Size, Share & Trends Report

Optical Character Recognition Market Size, Share & Trends Analysis Report By Type (Software, Services), By Vertical (BFSI, Retail, Transport And Logistics), By End-use (B2B, B2C), By Region, And Segment Forecasts, 2024 - 2030

Report ID: GVR-3-68038-210-5
Number of Report Pages: 100
Format: PDF

Historical Range: 2017 - 2023
Forecast Period: 2023 - 2030
Industry: Technology

Market Segmentation

Optical Character Recognition (OCR) Type Outlook (Revenue, USD Million, 2017 - 2030)
- Software
  - Desktop-Based OCR
  - Mobile-Based OCR
  - Cloud-Based OCR
    - Private Cloud-Based OCR
    - Public Cloud-Based OCR
  - Others
- Services
  - Consulting
  - Outsourcing
  - Implementation & Integration
Optical Character Recognition (OCR) Vertical Outlook (Revenue, USD Million, 2017 - 2030)
- Retail
- BFSI
- Government
- Education
- Transport and Logistics
- Healthcare
- IT & Telecom
- Manufacturing
- Others
Optical Character Recognition (OCR) End-use Outlook (Revenue, USD Million, 2017 - 2030)
- B2B
- B2C
Optical Character Recognition (OCR) Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
  - North America Optical Character Recognition (OCR) Market, By Type
    - Software
      - Desktop-Based OCR
      - Mobile-Based OCR
      - Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
      - Others
    - Services
      - Consulting
      - Outsourcing
      - Implementation & Integration
  - North America Optical Character Recognition (OCR) Market, By Vertical
    - Retail
    - BFSI
    - Government
    - Education
    - Transport and Logistics
    - Healthcare
    - IT & Telecom
    - Manufacturing
    - Others
  - North America Optical Character Recognition (OCR) Market, By End-use
    - B2B
    - B2C
  - U.S.
    - U.S. Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - U.S. Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
    - U.S. Optical Character Recognition (OCR) Market, By End-use
      - B2B
      - B2C
  - Canada
    - Canada Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - Canada Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
    - Canada Optical Character Recognition (OCR) Market, By End-use
      - B2B
      - B2C
  - Mexico
    - Mexico Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - Mexico Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
    - Mexico Optical Character Recognition (OCR) Market, By End-use
      - B2B
      - B2C
- Europe
  - Europe Optical Character Recognition (OCR) Market, By Type
    - Software
      - Desktop-Based OCR
      - Mobile-Based OCR
      - Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
      - Others
    - Services
      - Consulting
      - Outsourcing
      - Implementation & Integration
  - Europe Optical Character Recognition (OCR) Market, By Vertical
    - Retail
    - BFSI
    - Government
    - Education
    - Transport and Logistics
    - Healthcare
    - IT & Telecom
    - Manufacturing
    - Others
  - Europe Optical Character Recognition (OCR) Market, By End-use
    - B2B
    - B2C
  - U.K.
    - U.K. Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - U.K. Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
    - U.K. Optical Character Recognition (OCR) Market, By End-use
      - B2B
      - B2C
  - Germany
    - Germany Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - Germany Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
    - Germany Optical Character Recognition (OCR) Market, By End-use
      - B2B
      - B2C
  - France
    - France Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - France Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
    - France Optical Character Recognition (OCR) Market, By End-use
      - B2B
      - B2C
  - Italy
    - Italy Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - Italy Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
    - Italy Optical Character Recognition (OCR) Market, By End-use
      - B2B
      - B2C
  - Spain
    - Spain Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - Spain Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
    - Spain Optical Character Recognition (OCR) Market, By End-use
      - B2B
      - B2C
- Asia Pacific
  - Asia Pacific Optical Character Recognition (OCR) Market, By Type
    - Software
      - Desktop-Based OCR
      - Mobile-Based OCR
      - Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
      - Others
    - Services
      - Consulting
      - Outsourcing
      - Implementation & Integration
  - Asia Pacific Optical Character Recognition (OCR) Market, By Vertical
    - Retail
    - BFSI
    - Government
    - Education
    - Transport and Logistics
    - Healthcare
    - IT & Telecom
    - Manufacturing
    - Others
  - Asia Pacific Optical Character Recognition (OCR) Market, By End-use
    - B2B
    - B2C
  - China
    - China Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - China Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
    - China Optical Character Recognition (OCR) Market, By End-use
      - B2B
      - B2C
  - India
    - India Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - India Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
    - India Optical Character Recognition (OCR) Market, By End-use
      - B2B
      - B2C
  - Japan
    - Japan Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - Japan Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
    - Japan Optical Character Recognition (OCR) Market, By End-use
      - B2B
      - B2C
  - Australia
    - Australia Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - Australia Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
    - Australia Optical Character Recognition (OCR) Market, By End-use
      - B2B
      - B2C
  - South Korea
    - South Korea Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - South Korea Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
    - South Korea Optical Character Recognition (OCR) Market, By End-use
      - B2B
      - B2C
- South America
  - South America Optical Character Recognition (OCR) Market, By Type
    - Software
      - Desktop-Based OCR
      - Mobile-Based OCR
      - Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
      - Others
    - Services
      - Consulting
      - Outsourcing
      - Implementation & Integration
  - South America Optical Character Recognition (OCR) Market, By Vertical
    - Retail
    - BFSI
    - Government
    - Education
    - Transport and Logistics
    - Healthcare
    - IT & Telecom
    - Manufacturing
    - Others
  - South America Optical Character Recognition (OCR) Market, By End-use
    - B2B
    - B2C
  - Brazil
    - Brazil Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - Brazil Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
    - Brazil Optical Character Recognition (OCR) Market, By End-use
      - B2B
      - B2C
  - Argentina
    - Argentina Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - Argentina Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
  - Argentina Optical Character Recognition (OCR) Market, By End-use
    - B2B
    - B2C
- MEA
  - MEA Optical Character Recognition (OCR) Market, By Type
    - Software
      - Desktop-Based OCR
      - Mobile-Based OCR
      - Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
      - Others
    - Services
      - Consulting
      - Outsourcing
      - Implementation & Integration
  - MEA Optical Character Recognition (OCR) Market, By Vertical
    - Retail
    - BFSI
    - Government
    - Education
    - Transport and Logistics
    - Healthcare
    - IT & Telecom
    - Manufacturing
    - Others
  - MEA Optical Character Recognition (OCR) Market, By End-use
    - B2B
    - B2C
  - Saudi Arabia
    - Saudi Arabia Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - Saudi Arabia Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
    - Saudi Arabia Optical Character Recognition (OCR) Market, By End-use
      - B2B
      - B2C
  - UAE
    - UAE Optical Character Recognition (OCR) Market, By Type
      - Software
        
        Desktop-Based OCR
        
        Mobile-Based OCR
        
        Cloud-Based OCR
        
        Private Cloud-Based OCR
        
        Public Cloud-Based OCR
        
        Others
      - Services
        
        Consulting
        
        Outsourcing
        
        Implementation & Integration
    - UAE Optical Character Recognition (OCR) Market, By Vertical
      - Retail
      - BFSI
      - Government
      - Education
      - Transport and Logistics
      - Healthcare
      - IT & Telecom
      - Manufacturing
      - Others
    - UAE Optical Character Recognition (OCR) Market, By End-use
      - B2B
      - B2C

Optical Character Recognition Market Dynamics

Driver: Increasing Adoption of OCR Across Diversified Verticals

Optical character recognition (OCR) technology is a tool that transforms text from images and videos into a format that can be edited. This technology is being utilized across various sectors. For example, in the logistics and transportation sector, OCR aids in the digital scanning of tracking numbers and postal codes, eliminating the need for manual recording. This accelerates the overall process of package handling, tracking, and delivery, thereby reducing costs. In the banking sector, applications based on OCR are employed to digitally scan various documents, receipts, and checks, converting the information into an editable format. An instance of this is when ICICI Bank in India launched a digital application in April 2018 for smartphones and mobile devices. This application, equipped with OCR, captures customer information in real-time for KYC scanning, automatically scanning and populating handwritten documents. In the healthcare industry, OCR is used to digitize handwritten health records and other documents, creating a searchable and accessible unified database. OCR is also used in other healthcare applications. For example, pen scanners enabled with OCR assist students with dyslexia by scanning printed content and converting it into text, which is then transformed into audio. This allows dyslexic students to overcome their reading challenges by listening to the words they are attempting to read.

Growing Adoption of OCR Due to the Integration of Advanced Capabilities

As advancements in OCR (Optical Character Recognition) technology continue, providers of this technology have begun to incorporate cutting-edge technologies like artificial intelligence (AI) to promote the adoption of OCR among enterprises. The fusion of AI with OCR can assist businesses in improving their data capture and data management processes, with OCR gathering the data and AI understanding the content concurrently. AI can aid in identifying errors in a scanned document, thereby enhancing error management. This combined technology can also be employed to manage financial reports by copying reports from various languages and translating them into English. Companies like Infrrd Inc. are offering a mix of several technologies, including machine learning and computer vision algorithms, to examine the layout of a document post-preprocessing to capture the information. This amalgamation of techniques can aid businesses in reducing their administrative tasks and improving their document management, thereby catalyzing a digital transformation across numerous industries. Therefore, OCR based on AI or machine learning can specifically assist companies in reducing costs and enhancing efficiency. Considering the advantages of integrating the latest technologies with OCR, vendors in the OCR market are consistently introducing new features that align with the evolving needs of customers, thus propelling the growth of the optical character recognition market.

Restraint: Limitations in Delivering Accurate Output

Although OCR technology has evolved significantly, it still has its limitations. For instance, older documents or documents containing fuzzy, unclear, or noisy text cannot be scanned accurately using OCR. Similarly, OCR is not able to generate accurate outputs from shrunk documents or documents with creases. OCR technology also encounters limitations while recognizing cursive handwriting or lousy handwriting. In the case of a material confined between rows and columns, OCR may not understand the text clearly if the text is not within the boundaries of a grid cell. Data happens to be of paramount importance for any organization, and inaccurate data can often lead to inefficiency. Enterprises that depend purely on accurate data to make data-driven decisions would prefer not to use OCR technology due to its limitations in delivering 100% accuracy. Any such restrictions that would discourage enterprises from using OCR technology are expected to restrain the growth of the optical character recognition market.

What Does This Report Include?

This section will provide insights into the contents included in this optical character recognition market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Optical character recognition market qualitative analysis

Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments

Optical character recognition market quantitative analysis

Market size, estimates, and forecast from 2017 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance

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