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, Horizon Databook
  • Historical Range: 2017 - 2023
  • Forecast Period: 2023 - 2030 
  • Industry: Technology
To request a free sample copy of this report, please complete the form below.

We value your investment and offer free customization with every report to fulfil your research needs.

This website is secure and your personal details are safe.

Pricing & Purchase Options

Service Guarantee

  • Insured Buying

    This report has a service guarantee. We stand by our report quality.

  • Confidentiality

    We are in compliance with GDPR & CCPA norms. All interactions are confidential.

  • GDPR.EU
  • Custom research service

    Design an exclusive study to serve your research needs.

  • 24/5 Research support

    Get your queries resolved from an industry expert.

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

GVR Report cover 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, Horizon Databook
  • Historical Range: 2017 - 2023
  • Forecast Period: 2023 - 2030 
  • Industry: Technology

Optical Character Recognition Market Trends

The global optical character recognition market size was valued at USD 12.56 billion in 2023 and is expected to grow at a CAGR of 14.8% from 2023 to 2030. Optical character recognition (OCR) technology converts printed and physical documents into machine-readable texts. It extracts scanned papers, image-only pdfs, and camera images and repurposes them. OCR software extracts letters from images and translates them into words and then sentences, allowing access to alter the original text. BFSI, healthcare, retail, tourism, logistics, transportation industry, government, manufacturing, and other sectors also have wide adoption for OCR technology. The OCR market growth is primarily driven by improvement in productivity and a rise in the penetration of automatic content recognition systems.  For instance, in July 2022, DataPost Pte. Ltd., a global player in data security and automation, announced the launch of DataVio, a cloud-based solution. The new solution uses optical character recognition (OCR) technology, enabling data to be extracted from written or printed text from an image or a scanned document. DataVio helps businesses to automate the extraction and processing of data from documents.

U.S. Optical Character Recognition market size and growth rate, 2023 - 2030

Digitalization in business organizations has made all processes faster and more accessible. As companies witness technological advancements, data is becoming a critical element for growth. When data is converted to digital form, it can be processed by computers and various devices with computing capacity, and this data is easy to share, access, and store. Companies established before digitalization became a norm in the enterprise sector have also started using tools, such as optical character recognition (ocr) software, to convert their physical data into digital form. The technology also finds increasing application in BFSI and the healthcare sectors for creating digital copies of checks, invoices, and other documents. For instance, in February 2022, Alfa-Bank, Russia's largest private bank incorporated Smart Engines, a software development company's computer-vision document scanning capabilities into its mobile banking application. The app enables users to update their ID documents remotely, eliminating the necessity to visit an office to perform the task.

The OCR technology is also being widely used for converting information available in text form into speech with the help of text-to-speech technologies, thus making it accessible to blind and visually impaired individuals. Other applications of the technology include sorting out letters at post offices and documents in law firms and courts, preserving historical and cultural texts, personal identification, and processing invoices, orders, and other documents. For instance, in May 2022, OCR Canada, a provider of automated identification data capture products and services, announced the acquisition of Day 2 Mobility Inc., a telecommunications company. Clients will still experience the benefits of a single point of connection with telecom carriers, policy development, and the finest support services.

Numerous benefits of optical character recognition technology have helped companies save time spent on entering data manually in computers, enhancing work management, reducing the cost of converting documents into digital form, and reducing manual errors, among others. It also offers other benefits such as improved customer service and increased document security, significantly propelling demand across industries, including BFSI and retail. Increased focus of cognitive solution developers on integrating advanced technologies to improve accuracy is also expected to significantly drive market growth in the near future. For instance, Envision, a smartphone app that helps blind and low-vision users, introduced AI-powered smart glasses helping visually impaired and blind users to have hands-free access and make everyday life more accessible. These smart glasses will have optical character recognition capability.

Market Concentration & Characteristics

The degree of innovation for optical character recognition technology is expected to grow considerably over the forecast period owing to the rising integration of machine learning and artificial intelligence with the OCR systems to process and interpret large volumes of data. Additionally, these technologies have enabled OCR systems to adapt and learn new fonts, layouts, and styles, thereby making them more versatile for business use cases. 

Optical Character Recognition Market Concentration & Characteristics

The merger and acquisition (M&A) activities in the global optical character recognition market are considered at a moderate level of the industry's rapid evolution. Several prominent players have managed to develop in-house advanced technical capabilities which enable them to maintain their significant share in the competitive market. However, with the emergence of artificial intelligence and advanced data analytics tools coupled with a rising inclination of enterprises on cloud and edge computing-based platforms, the key players are expected to make strategic decisions on acquiring or merging with emerging companies with advanced capabilities. 

The growing concerns for data security and the rising focus of government authorities on implementing stricter regulations have been observed as challenging factors limiting market growth. However, the growing prevalence of cybersecurity and advanced software 2.0 platforms that foster data security is expected to overcome this challenge over the forecast period. Thus, the impact of regulations is estimated to be on the lower side as compared to the industry’s rapid growth.

The optical character recognition technology has moderate chances of a substitute technology to take over. However, increasing developments in Generative AI and multi-modal AI technologies that provide seamless data interpretation facilities are poised to enable software providers to focus more on increasing such applications.

The end-user concentration is estimated to be at a moderate level, considering the rising number of industry-specific applications in the optical character recognition market. The end-user concentration is expected to expand across several verticals in the coming years due to the growing prevalence of the technology in daily business processes.

Type Insights

The software segment led the market in 2022, accounting for above 81% share of the global revenue. The OCR software segment can be divided into desktop-based OCR, cloud-based OCR, mobile-based OCR, and others. The growing need to digitize and reduce the dependence on physical documents to save cost, energy, and time has aided the expansion of the software segment. Further, the market has grown due to the increased adoption of augmented reality in platforms like healthcare, BFSI, and retail. For instance, in February 2022, nRoad, a U.S.-based company, launched its new product Convus, an AI OCR platform for organizations to overcome the challenges of extracting from unstructured data, such as photos, audio, videos, and text-based documents. This partnership would let Smart Engine deliver high-end document recognition, increasing form-filling productivity by automatically retrieving data from documents. It also includes next-generation biometric passports with smart engine identification scanning and Green Engine Technology.

The services segment is expected to exhibit the highest CAGR in the forecast period. Business owners outsource their data extraction services to get synthesized information and utilize it for better decision-making. There are numerous companies offering outsourcing services for optical character recognition operations. For instance, Data entry Inc. offers OCR cleanup services with a wide range of outsourcing OCR services, such as OCR bulk volumes, OCR database cleanup, OCR data conversion cleanup, and OCR error control. For instance, in February 2022, nRoad, a U.S.-based company, launched its new product Convus, an OCR AI-enabled platform for organizations to overcome the challenges of extracting from unstructured data, such as photos, audio, videos, and text-based documents. Other implications of this tool include searching regulatory and legal documents for investments, reducing fraud risk during the loan process, intelligent contract verification, and detecting violations in the contract.

Vertical Insights

The BFSI segment led the market in 2022, accounting for above 19% share of the global revenue. The growth can be attributed to the use of OCR, optimizing performance, and automating time-consuming operations for financial services, it helps in document scanning, credit card scanning, data entry to transform all the data into a format that a computer can recognize and understand. For instance, Appzillon, i-exceeds low code digital platform, provides digital banking solutions for banks and financial institutions. For another instance, Citigroup. Inc., U.S.-based banking and financial services corporation, uses Appzillon's banking solution to improve its process efficiency in corporate banking solutions. It simplifies and enhances the customer experience with its rich user experience with new advancements in the digital platform.

The transport & logistics segment is expected to showcase lucrative growth over the forecast period. OCR helps the transport & logistics industry to enable machine-readable data capturing and boost paperless productivity. The transport & logistics industry leverages OCR solutions in multiple ways, such as automating transport order processing, transport document recognition, and saving time by digitizing the expedition process. Character recognition is anticipated to continue finding applications across various industries in the near future. For another instance, in the travel industry, OCR helps in data storage and security purpose, thereby scanning the passport to save personal data while booking tickets. Rather than noting it down physically, OCR makes the work easy by reducing costs. Besides, Rossum. AI-powered OCR uses OCR machine learning and AI to capture data. It recognizes the invoices and allows the account payable professionals to liberate themselves from the monotonous grind of manually extracting invoices.

End-use Insights

The B2B segment led the market in 2022, accounting for over 78% share of the global revenue. The B2B segment is anticipated to witness substantial growth over the forecasted period. The growth is attributed to various businesses' adoption of software solutions to combine optical recognition technology with intelligent features to allow customers to extract data from archived forms. It will enable companies to organize their data digitally and make it usable and accessible. In addition, it eliminates the manual data entry process. For instance, in October 2021, Tata CLiQ., a Tata Groups e-commerce platform, uses Adobe to scale its business and offer a personalized shopping digital experience in its mobile application and website.

Global Optical Character Recognition market share and size, 2022

The B2C segment is expected to showcase moderate growth over the forecast period. Business organizations are using OCR for information retrieval using searchable PDF format. Such software allows the conversion of image-only PDF files and paper documents into searchable files, including an invisible overlay containing searchable text to the scanned bitmap image of the paper document. It enables using a digital file system as a searchable database to find names, phrases, and keywords to help locate the information needed. Furthermore, government firms and officials use OCR solutions to scan legal documents, including driver’s licenses, insurance certificates, passports, and vehicle number plates.

Regional Insights

North America dominated the market in 2022, accounting for over 38% share of the global revenue. This can be attributed to the presence of leading market players in the U.S. and the early adoption of new technology in businesses, contributing to the region’s dominance. For instance, in October 2021, AlphaSense Inc., a U.S.-based market intelligence company, raised a Series C funding round of USD 180 Million, bringing its total funding to USD 263 Million. Besides, in July 2021, CognitiveScale, an AI-powered digital system, released its latest technology, a Cortex Fabric 6, a low code developer platform for transformation, automation, and augmentation of digital experiences. This technology would enable businesses to build reliable AI applications more affordable and faster.

Optical Character Recognition Market Trends, by Region, 2024 - 2030

Asia Pacific is expected to exhibit the highest CAGR in the forecast period. The growth can be attributed to the significantly increasing investments in AI and related technologies. The growing technology industry in the emerging economies of Asia Pacific is particularly promoting the adoption of solutions with OCR capabilities. For instance, in January 2022, Axera Tech, a Chinese AI startup, has closed its Series A++ funding round worth USD 125.9 million to expand its business and develop AI vision processor chips. The company’s core product is widely used for smart retail, smart cities, smart homes, and smart communities. Besides, in January 2022, AIMMO., a Korean AI startup, has raised a Series A funding round worth USD 12 million to advance its technology and expand its business globally towards data labeling. The company is mainly focusing on autonomous driving and smart city.

Key Companies & Market Share Insights

Vendors in the OCR market are integrating their capabilities and delivering advanced software within the hardware and software to enable OCR across business boundaries and meet the need. Besides, vendors are implementing partnerships, mergers, and acquisitions to compete in the market effectively. For instance, in December 2021,Adobe, one of the OCR market leaders and a computer software company, partnered with Microsoft, a U.S.-based tech giant. This partnership will help enterprises enable their customer experience with Microsoft Azure, Adobe Experience Cloud, and Microsoft Dynamics. Further, in April 2021, Microsoft acquired Nuance Communications, an AI and speech recognition-based company, and this acquisition would increase the presence of Microsoft cloud for healthcare. Some of the prominent players in the global optical character recognition market include:

Key Optical Character Recognition Companies:

  • ABBYY
  • Adobe
  • Anyline GmbH
  • ATAPY Software
  • Captricity Inc.
  • Creaceed S.P.R.L.
  • CVISION Technologies, Inc.
  • Exper-OCR, Inc.
  • Google LLC
  • International Business Machines Corporation
  • IntSig Information Co., Ltd. Corporation
  • IRIS S.A.
  • LEAD Technologies, Inc.
  • Microsoft
  • NAVER Corp.
  • Nuance Communications, Inc.
  • Open Text Corporation

Recent Development

  • In December 2023, Citi, a financial services company, collaborated with Traydstream, a trade documentation solution provider, to offer its clients access to automated trade document processing features as Traydstream modular technology leverages AI and OCR capabilities to their offerings that provide seamless customer experience.

  • In September 2023, Landing AI, a computer vision platform provider, launched Landing AI App Space, an advanced repository of use cases and applications to assist software developers in creating their own Landing AI-based applications. Moreover, with this App Space, users would be able to build applications using OCR capabilities linked with the Landing AI’s platform.

  • In May 2023, ABBYY announced a strategic partnership with Pipefy to deliver an integrated solution that fast-tracks digital transformation initiatives in various industries, including financial services, people operations, and insurance.ABBYY's OCR technology was integrated with Pipefy's process automation capabilities to offer an influential solution that optimizes workflows and processes.

Optical Character Recognition Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 12.56 billion

Revenue forecast in 2030

USD 32.90 billion

Growth rate

CAGR of 14.8% from 2023 to 2030

Actual Data

2017 - 2023

Forecast period

2024 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, vertical, end-use, region

Regional scope

North America; Europe; Asia Pacific; South America; MEA

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; China; Japan; India; Australia; South Korea; Brazil;Argentina; Saudi Arabia; UAE

Key companies profiled

ABBYY; Adobe; Anyline GmbH; ATAPY Software; Captricity Inc.; Creaceed S.P.R.L.; CVISION Technologies, Inc.; Exper-OCR, Inc.; Google LLC; International Business Machines Corporation; IntSig Information Co., Ltd. Corporation; IRIS S.A.; LEAD Technologies, Inc.; Microsoft; NAVER Corp.; Nuance Communications, Inc.; Open Text Corporation.

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Optical Character Recognition Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global optical character recognition market report based on type, vertical, end-use, and region:

Global Optical Character Recognition Market Report Segmentation

  • Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Software

      • Desktop-based OCR

      • Mobile-based OCR

      • Cloud-based OCR

        • Private

        • Public

      • Others

    • Services

      • Consulting

      • Outsourcing

      • Implementation & Integration

  • Vertical Outlook (Revenue, USD Million, 2017 - 2030)

    • Retail

    • BFSI

    • Government

    • Education

    • Transport And Logistics

    • Healthcare

    • IT & Telecom

    • Manufacturing

    • Others

  • End-use Outlook (Revenue, USD Million, 2017 - 2030)

    • B2B

    • B2C

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

      • South Korea

    • South America

      • Brazil

      • Argentina

    • Middle East and Africa (MEA)

      • Saudi Arabia

      • UAE

Frequently Asked Questions About This Report

Table of Contents

Chapter 1 Optical Character Recognition Market: Methodology And Scope
                   1.1 Information Procurement And Research Scope
                   1.2 Information Analysis
                   1.3 Market Formulation & Data Visualization
                   1.4 Market Scope And Assumptions
                   1.5 List Of Data Sources
                       1.5.1 Secondary Sources
                       1.5.2 Primary Sources
Chapter 2 Optical Character Recognition Market: Executive Summary
                   2.1 Market Outlook
                   2.2 Global OCR Market
                       2.2.1 Global OCR Market, 2017 - 2030
                       2.2.2 Global OCR Market, By Region, 2017 - 2030
                           2.2.2.1 Key Trends, By Region, 2022
                       2.2.3 Global OCR Market, By Type, 2017 - 2030
                           2.2.3.1 Key Trends, By Type, 2022
                           2.2.3.2 Global OCR Market, By Software, 2017 - 2030
                               2.2.3.2.1 Global OCR Market, By Cloud-Based OCR, 2017 - 2030
                           2.2.3.3 Global OCR Market, By Services, 2017 - 2030
                       2.2.4 Global OCR Market, By Vertical, 2017 - 2030
                           2.2.4.1 Key Trends, By Vertical, 2022
                       2.2.5 Global OCR Market, By End-use, 2017 - 2030
                           2.2.5.1 Key Trends, By End-Use, 2022
Chapter 3 Optical Character Recognition Market: Variables, Trends & Scope
                   3.1 Market Segmentation
                   3.2 Market Definition
                   3.3 Market Scope
                   3.4 Penetration & Growth Prospect Mapping, 2030
                   3.5 Optical Character Recognition - Software Ecosystem Analysis
                   3.6 Market Dynamics
                       3.6.1 Market Driver Analysis
                           3.6.1.1 Increasing Adoption Of OCR Across Diversified Verticals
                           3.6.1.2 Growing Adoption Of OCR Due To The Integration Of Advanced Capabilities
                           3.6.1.3 Increasing Investments In OCR Startup Companies
                       3.6.2 Market Restraint Analysis
                           3.6.2.1 Limitations In Delivering Accurate Output
                   3.7 Technology Overview
                   3.8 Industry Analysis - Porter’s
                       3.8.1 Supplier Power: Low
                       3.8.2 Buyer Power: Moderate
                       3.8.3 Substitution Threat: Low
                       3.8.4 Threat from New Entrant: Moderate
                       3.8.5 Competitive Rivalry: High
                   3.9 PESTEL Analysis
                       3.9.1 Political Landscape
                       3.9.2 Economic Landscape
                       3.9.3 Social Landscape
                       3.9.4 Technology Landscape
                       3.9.5 Legal Landscape
                   3.10 Major Deals & Strategic Alliances Analysis
                       3.10.1 Mergers & Acquisitions and Technology Collaborations
                   3.11 Vendor Landscape - OCR Market
                   3.12 COVID-19 Impact Analysis
Chapter 4 Optical Character Recognition (OCR) Market: Type Estimates & Trend Analysis
                   4.1 Optical Character Recognition (OCR) Market: Type Movement Analysis
                   4.2 OCR Trends, By Type, 2022
                   4.3 Software
                       4.3.1 Global Software OCR Market, By Region, 2017 - 2030
                       4.3.2 Desktop-Based OCR
                           4.3.2.1 Global Desktop-Based OCR Market, By Region, 2017 - 2030
                       4.3.3 Mobile-Based OCR
                           4.3.3.1 Global Mobile-Based OCR Market, By Region, 2017 - 2030
                       4.3.4 Cloud-Based OCR
                           4.3.4.1 Global Cloud-Based OCR Market, By Region, 2017 - 2030
                           4.3.4.2 Private Cloud-Based OCR
                               4.3.4.2.1 Global Private Cloud-Based OCR Market, By Region, 2017 - 2030
                           4.3.4.3 Public Cloud-Based OCR
                               4.3.4.3.1 Global Public Cloud-Based OCR Market, By Region, 2017 - 2030
                       4.3.5 Others OCR Software
                           4.3.5.1 Global Others OCR Software Market, By Region, 2017 - 2030
                   4.4 Services
                       4.4.1 Global Services OCR Market, By Region, 2017 - 2030
                       4.4.2 consulting
                           4.4.2.1 Global Consulting Market, By Region, 2017 - 2030
                       4.4.3 Outsourcing
                           4.4.3.1 Global Outsourcing Market, By Region, 2017 - 2030
                       4.4.4 Implementation & Integration
                           4.4.4.1 Global Implementation & Integration Market, By Region, 2017 - 2030
Chapter 5 Optical Character Recognition (OCR) Market: Vertical Estimates & Trend Analysis
                   5.1 Optical Character Recognition (OCR) Market: Vertical Movement Analysis
                   5.2 OCR Trends, By Vertical, 2022
                   5.3 Retail
                       5.3.1 Global Retail OCR Market, By Region, 2017 - 2030
                   5.4 BFSI
                       5.4.1 Global BFSI OCR Market, By Region, 2017 - 2030
                   5.5 Government
                       5.5.1 Global Government OCR Market, By Region, 2017 - 2030
                   5.6 Education
                       5.6.1 Global Education OCR Market, By Region, 2017 - 2030
                   5.7 Transport And Logistics
                       5.7.1 Global Transport and Logistics OCR Market, By Region, 2017 - 2030
                   5.8 Healthcare
                       5.8.1 Global Healthcare OCR Market, By Region, 2017 - 2030
                   5.9 IT & Telecom
                       5.9.1 Global IT & Telecom OCR Market, By Region, 2017 - 2030
                   5.10 Manufacturing
                       5.10.1 Global Manufacturing OCR Market, By Region, 2017 - 2030
                   5.11 Others
                       5.11.1 Global Others OCR Market, By Region, 2017 - 2030
Chapter 6 Optical Character Recognition (OCR) Market: End-Use Estimates & Trend Analysis
                   6.1 Optical Character Recognition (OCR) Market: End-Use Movement Analysis
                   6.2 OCR Trends, By End-Use, 2022
                   6.3 B2B
                       6.3.1 Global B2B OCR Market, By Region, 2017 - 2030
                   6.4 B2C
                       6.4.1 Global B2C OCR Market, By Region, 2017 - 2030
Chapter 7 Optical Character Recognition (OCR) Market: Regional Estimates & Trend Analysis
                   7.1 Optical Character Recognition (OCR) Market: Regional Outlook
                   7.2 Optical Character Recognition (OCR) Market: Regional Movement Analysis
                   7.3 OCR Trends, By Region, 2022
                   7.4 North America
                       7.4.1 North America OCR Market, 2017 - 2030
                       7.4.2 North America OCR Market, By Type, 2017 - 2030
                           7.4.2.1 North America OCR Market, By Software, 2017 - 2030
                           7.4.2.2 North America OCR Market, By Services, 2017 - 2030
                       7.4.3 North America OCR Market, By Vertical, 2017 - 2030
                       7.4.4 North America OCR Market, By End-use, 2017 - 2030
                       7.4.5 U.S.
                           7.4.5.1 U.S. OCR Market, By Type, 2017 - 2030
                               7.4.5.1.1 U.S. OCR Market, By Software, 2017 - 2030
                               7.4.5.1.2 U.S. OCR Market, By Services, 2017 - 2030
                           7.4.5.2 U.S. OCR Market, By Vertical, 2017 - 2030
                           7.4.5.3 U.S. OCR Market, By End-Use, 2017 - 2030
                       7.4.6 Canada
                           7.4.6.1 Canada OCR Market, By Type, 2017 - 2030
                               7.4.6.1.1 Canada OCR Market, By Software, 2017 - 2030
                               7.4.6.1.2 Canada OCR Market, By Services, 2017 - 2030
                           7.4.6.2 Canada OCR Market, By Vertical, 2017 - 2030
                           7.4.6.3 Canada OCR Market, By End-Use, 2017 - 2030
                       7.4.7 Mexico
                           7.4.7.1 Mexico OCR Market, By Type, 2017 - 2030
                               7.4.7.1.1 Mexico OCR Market, By Software, 2017 - 2030
                               7.4.7.1.2 Mexico OCR Market, By Services, 2017 - 2030
                           7.4.7.2 Mexico OCR Market, By Vertical, 2017 - 2030
                           7.4.7.3 Mexico OCR Market, By End-Use, 2017 - 2030
                   7.5 Europe
                       7.5.1 Europe OCR Market, 2017 - 2030
                       7.5.2 Europe OCR Market, By Type, 2017 - 2030
                           7.5.2.1 Europe OCR Market, By Software, 2017 - 2030
                           7.5.2.2 Europe OCR Market, By Services, 2017 - 2030
                       7.5.3 Europe OCR Market, By Vertical, 2017 - 2030
                       7.5.4 Europe OCR Market, By End-use, 2017 - 2030
                       7.5.5 U.K.
                           7.5.5.1 U.K. OCR Market, By Type, 2017 - 2030
                               7.5.5.1.1 U.K. OCR Market, By Software, 2017 - 2030
                               7.5.5.1.2 U.K. OCR Market, By Services, 2017 - 2030
                           7.5.5.2 U.K. OCR Market, By Vertical, 2017 - 2030
                           7.5.5.3 U.K. OCR Market, By End-Use, 2017 - 2030
                       7.5.6 Germany
                           7.5.6.1 Germany OCR Market, By Type, 2017 - 2030
                               7.5.6.1.1 Germany OCR Market, By Software, 2017 - 2030
                               7.5.6.1.2 Germany OCR Market, By Services, 2017 - 2030
                           7.5.6.2 Germany OCR Market, By Vertical, 2017 - 2030
                           7.5.6.3 Germany OCR Market, By End-Use, 2017 - 2030
                       7.5.7 France
                           7.5.7.1 France OCR Market, By Type, 2017 - 2030
                               7.5.7.1.1 France OCR Market, By Software, 2017 - 2030
                               7.5.7.1.2 France OCR Market, By Services, 2017 - 2030
                           7.5.7.2 France OCR Market, By Vertical, 2017 - 2030
                           7.5.7.3 France OCR Market, By End-Use, 2017 - 2030
                       7.5.8 Italy
                           7.5.8.1 Italy OCR Market, By Type, 2017 - 2030
                               7.5.8.1.1 Italy OCR Market, By Software, 2017 - 2030
                               7.5.8.1.2 Italy OCR Market, By Services, 2017 - 2030
                           7.5.8.2 Italy OCR Market, By Vertical, 2017 - 2030
                           7.5.8.3 Italy OCR Market, By End-Use, 2017 - 2030
                       7.5.9 Spain
                           7.5.9.1 Spain OCR Market, By Type, 2017 - 2030
                               7.5.9.1.1 Spain OCR Market, By Software, 2017 - 2030
                               7.5.9.1.2 Spain OCR Market, By Services, 2017 - 2030
                           7.5.9.2 Spain OCR Market, By Vertical, 2017 - 2030
                           7.5.9.3 Spain OCR Market, By End-Use, 2017 - 2030
                   7.6 Asia Pacific (APAC)
                       7.6.1 APAC OCR Market, 2017 - 2030
                       7.6.2 APAC OCR Market, By Type, 2017 - 2030
                           7.6.2.1 APAC OCR Market, By Software, 2017 - 2030
                           7.6.2.2 APAC OCR Market, By Services, 2017 - 2030
                       7.6.3 APAC OCR Market, By Vertical, 2017 - 2030
                       7.6.4 APAC OCR Market, By End-use, 2017 - 2030
                       7.6.5 China
                           7.6.5.1 China OCR Market, By Type, 2017 - 2030
                               7.6.5.1.1 China OCR Market, By Software, 2017 - 2030
                               7.6.5.1.2 China OCR Market, By Services, 2017 - 2030
                           7.6.5.2 China OCR Market, By Vertical, 2017 - 2030
                           7.6.5.3 China OCR Market, By End-Use, 2017 - 2030
                       7.6.6 Japan
                           7.6.6.1 Japan OCR Market, By Type, 2017 - 2030
                               7.6.6.1.1 Japan OCR Market, By Software, 2017 - 2030
                               7.6.6.1.2 Japan OCR Market, By Services, 2017 - 2030
                           7.6.6.2 Japan OCR Market, By Vertical, 2017 - 2030
                           7.6.6.3 Japan OCR Market, By End-Use, 2017 - 2030
                       7.6.7 India
                           7.6.7.1 India OCR Market, By Type, 2017 - 2030
                               7.6.7.1.1 India OCR Market, By Software, 2017 - 2030
                               7.6.7.1.2 India OCR Market, By Services, 2017 - 2030
                           7.6.7.2 India OCR Market, By Vertical, 2017 - 2030
                           7.6.7.3 India OCR Market, By End-Use, 2017 - 2030
                       7.6.8 Australia
                           7.6.8.1 Australia OCR Market, By Type, 2017 - 2030
                               7.6.8.1.1 Australia OCR Market, By Software, 2017 - 2030
                               7.6.8.1.2 Australia OCR Market, By Services, 2017 - 2030
                           7.6.8.2 Australia OCR Market, By Vertical, 2017 - 2030
                           7.6.8.3 Australia OCR Market, By End-Use, 2017 - 2030
                       7.6.9 South Korea
                           7.6.9.1 South Korea OCR Market, By Type, 2017 - 2030
                               7.6.9.1.1 South Korea OCR Market, By Software, 2017 - 2030
                               7.6.9.1.2 South Korea OCR Market, By Services, 2017 - 2030
                           7.6.9.2 South Korea OCR Market, By Vertical, 2017 - 2030
                           7.6.9.3 South Korea OCR Market, By End-Use, 2017 - 2030
                   7.7 South America
                       7.7.1 South America OCR Market, 2017 - 2030
                       7.7.2 South America OCR Market, By Type, 2017 - 2030
                           7.7.2.1 South America OCR Market, By Software, 2017 - 2030
                           7.7.2.2 South America OCR Market, By Services, 2017 - 2030
                       7.7.3 South America OCR Market, By Vertical, 2017 - 2030
                       7.7.4 South America OCR Market, By End-use, 2017 - 2030
                       7.7.5 Brazil
                           7.7.5.1 Brazil OCR Market, By Type, 2017 - 2030
                               7.7.5.1.1 Brazil OCR Market, By Software, 2017 - 2030
                               7.7.5.1.2 Brazil OCR Market, By Services, 2017 - 2030
                           7.7.5.2 Brazil OCR Market, By Vertical, 2017 - 2030
                           7.7.5.3 Brazil OCR Market, By End-Use, 2017 - 2030
                       7.7.6 Argentina
                           7.7.6.1 Argentina OCR Market, By Type, 2017 - 2030
                               7.7.6.1.1 Argentina OCR Market, By Software, 2017 - 2030
                               7.7.6.1.2 Argentina OCR Market, By Services, 2017 - 2030
                           7.7.6.2 Argentina OCR Market, By Vertical, 2017 - 2030
                           7.7.6.3 Argentina OCR Market, By End-Use, 2017 - 2030
                   7.8 MEA
                       7.8.1 MEA OCR Market, 2017 - 2030
                       7.8.2 MEA OCR Market, By Type, 2017 - 2030
                           7.8.2.1 MEA OCR Market, By Software, 2017 - 2030
                           7.8.2.2 MEA OCR Market, By Services, 2017 - 2030
                       7.8.3 MEA OCR Market, By Vertical, 2017 - 2030
                       7.8.4 MEA OCR Market, By End-use, 2017 - 2030
                       7.8.5 Saudi Arabia
                           7.8.5.1 Saudi Arabia OCR Market, By Type, 2017 - 2030
                               7.8.5.1.1 Saudi Arabia OCR Market, By Software, 2017 - 2030
                               7.8.5.1.2 Saudi Arabia OCR Market, By Services, 2017 - 2030
                           7.8.5.2 Saudi Arabia OCR Market, By Vertical, 2017 - 2030
                           7.8.5.3 Saudi Arabia OCR Market, By End-Use, 2017 - 2030
                       7.8.6 UAE
                           7.8.6.1 UAE OCR Market, By Type, 2017 - 2030
                               7.8.6.1.1 UAE OCR Market, By Software, 2017 - 2030
                               7.8.6.1.2 UAE OCR Market, By Services, 2017 - 2030
                           7.8.6.2 UAE OCR Market, By Vertical, 2017 - 2030
                           7.8.6.3 UAE OCR Market, By End-Use, 2017 - 2030
Chapter 8 Competitive Landscape
                   8.1 ABBYY
                       8.1.1 Company Overview
                       8.1.2 Product Benchmarking
                       8.1.3 Strategic Initiatives
                   8.2 Adobe
                       8.2.1 Company Overview
                       8.2.2 Financial Performance
                       8.2.3 Product Benchmarking
                       8.2.4 Strategic Initiatives
                   8.3 Anyline Gmbh
                       8.3.1 Company Overview
                       8.3.2 Product Benchmarking
                       8.3.3 Strategic Initiatives
                   8.4 ATAPY Software
                       8.4.1 Company Overview
                       8.4.2 Product Benchmarking
                       8.4.3 Strategic Initiatives
                   8.5 Captricity Inc.
                       8.5.1 Company Overview
                       8.5.2 Product Benchmarking
                       8.5.3 Strategic Initiatives
                   8.6 Creaceed S.P.R.L.
                       8.6.1 Company Overview
                       8.6.2 Product Benchmarking
                       8.6.3 Strategic Initiatives
                   8.7 CVISION Technologies, Inc.
                       8.7.1 Company Overview
                       8.7.2 Product Benchmarking
                       8.7.3 Strategic Initiatives
                   8.8 Exper-OCR, Inc.
                       8.8.1 Company Overview
                       8.8.2 Product Benchmarking
                   8.9 Google LLC
                       8.9.1 Company Overview
                       8.9.2 Financial Performance
                       8.9.3 Product Benchmarking
                       8.9.4 Strategic Initiatives
                   8.10 International Business Machines Corporation
                       8.10.1 Company Overview
                       8.10.2 Financial Performance
                       8.10.3 Product Benchmarking
                       8.10.4 Strategic Initiatives
                   8.11 Intsig Information Co.,Ltd. Corporation
                       8.11.1 Company Overview
                       8.11.2 Product Benchmarking
                       8.11.3 Strategic Initiatives
                   8.12 IRIS S.A
                       8.12.1 Company Overview
                       8.12.2 Product Benchmarking
                       8.12.3 Strategic Initiatives
                   8.13 LEAD Technologies, Inc.
                       8.13.1 Company Overview
                       8.13.2 Product Benchmarking
                       8.13.3 Strategic Initiatives
                   8.14 Microsoft
                       8.14.1 Company Overview
                       8.14.2 Financial Performance
                       8.14.3 Product Benchmarking
                       8.14.4 Strategic Initiatives
                   8.15 NAVER Corp.
                       8.15.1 Company Overview
                       8.15.2 Financial Performance
                       8.15.3 Product Benchmarking
                       8.15.4 Strategic Initiatives
                   8.16 Nuance Communications, Inc.
                       8.16.1 Company Overview
                       8.16.2 Financial Performance
                       8.16.3 Product Benchmarking
                       8.16.4 Strategic Initiatives
                   8.17 Open Text Corporation
                       8.17.1 Company Overview
                       8.17.2 Financial Performance
                       8.17.3 Product Benchmarking
                       8.17.4 Strategic Initiatives

 


List of Tables

Table 1 Optical character recognition (OCR) market - Industry snapshot & key buying criteria, 2017 - 2030
Table 2 Global OCR market, 2017 - 2030 (USD Million)
Table 3 Global OCR market, by region, 2017 - 2030 (USD Million)
Table 4 Global OCR market, by type, 2017 - 2030 (USD Million)
Table 5 Global OCR market, by software, 2017 - 2030 (USD Million)
Table 6 Global OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 7 Global OCR market, by services, 2017 - 2030 (USD Million)
Table 8 Global OCR market, by vertical, 2017 - 2030 (USD Million)
Table 9 Global OCR market, by end-use, 2017 - 2030 (USD Million)
Table 10 OCR market - Key market driver impact
Table 11 OCR Market - Key market restraint impact
Table 12 Optical character recognition (OCR) - M&A, collaborations & partnership scenario
Table 13 South Korea OCR market vendor landscape
Table 14 Global software OCR market, by region, 2017 - 2030 (USD Million)
Table 15 Global desktop-based OCR market, by region, 2017 - 2030 (USD Million)
Table 16 Global mobile-based OCR market, by region, 2017 - 2030 (USD Million)
Table 17 Global cloud-based OCR market, by region, 2017 - 2030 (USD Million)
Table 18 Global private cloud-based OCR market, by region, 2017 - 2030 (USD Million)
Table 19 Global public cloud-based OCR market, by region, 2017 - 2030 (USD Million)
Table 20 Global others OCR software market, by region, 2017 - 2030 (USD Million)
Table 21 Global services OCR market, by region, 2017 - 2030 (USD Million)
Table 22 Global consulting market, by region, 2017 - 2030 (USD Million)
Table 23 Global outsourcing market, by region, 2017 - 2030 (USD Million)
Table 24 Global implementation & integration market, by region, 2017 - 2030 (USD Million)
Table 25 Global retail OCR market, by region, 2017 - 2030 (USD Million)
Table 26 Global BFSI OCR market, by region, 2017 - 2030 (USD Million)
Table 27 Global government OCR market, by region, 2017 - 2030 (USD Million)
Table 28 Global education OCR market, by region, 2017 - 2030 (USD Million)
Table 29 Global transport and logistics OCR market, by region, 2017 - 2030 (USD Million)
Table 30 Global healthcare OCR market, by region, 2017 - 2030 (USD Million)
Table 31 Global IT & telecom OCR market, by region, 2017 - 2030 (USD Million)
Table 32 Global manufacturing OCR market, by region, 2017 - 2030 (USD Million)
Table 33 Global others OCR market, by region, 2017 - 2030 (USD Million)
Table 34 Global B2B OCR market, by region, 2017 - 2030 (USD Million)
Table 35 Global B2C OCR market, by region, 2017 - 2030 (USD Million)
Table 36 North America OCR market, 2017 - 2030 (USD Million)
Table 37 North America OCR market, by type, 2017 - 2030 (USD Million)
Table 38 North America OCR market, by software, 2017 - 2030 (USD Million)
Table 39 North America OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 40 North America OCR market, by services, 2017 - 2030 (USD Million)
Table 41 North America OCR market, by vertical, 2017 - 2030 (USD Million)
Table 42 North America OCR market, by end-use, 2017 - 2030 (USD Million)
Table 43 U.S. OCR market, by type, 2017 - 2030 (USD Million)
Table 44 U.S. OCR market, by software, 2017 - 2030 (USD Million)
Table 45 U.S. OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 46 U.S. OCR market, by services, 2017 - 2030 (USD Million)
Table 47 U.S. OCR market, by vertical, 2017 - 2030 (USD Million)
Table 48 U.S. OCR market, by end-use, 2017 - 2030 (USD Million)
Table 49 Canada OCR market, by type, 2017 - 2030 (USD Million)
Table 50 Canada OCR market, by software, 2017 - 2030 (USD Million)
Table 51 Canada OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 52 Canada OCR market, by services, 2017 - 2030 (USD Million)
Table 53 Canada OCR market, by vertical, 2017 - 2030 (USD Million)
Table 54 Canada OCR market, by end-use, 2017 - 2030 (USD Million)
Table 55 Mexico OCR market, by type, 2017 - 2030 (USD Million)
Table 56 Mexico OCR market, by software, 2017 - 2030 (USD Million)
Table 57 Mexico OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 58 Mexico OCR market, by services, 2017 - 2030 (USD Million)
Table 59 Mexico OCR market, by vertical, 2017 - 2030 (USD Million)
Table 60 Mexico OCR market, by end-use, 2017 - 2030 (USD Million)
Table 61 Europe OCR market, 2017 - 2030 (USD Million)
Table 62 Europe OCR market, by type, 2017 - 2030 (USD Million)
Table 63 Europe OCR market, by software, 2017 - 2030 (USD Million)
Table 64 Europe OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 65 Europe OCR market, by services, 2017 - 2030 (USD Million)
Table 66 Europe OCR market, by vertical, 2017 - 2030 (USD Million)
Table 67 Europe OCR market, by end-use, 2017 - 2030 (USD Million)
Table 68 U.K. OCR market, by type, 2017 - 2030 (USD Million)
Table 69 U.K. OCR market, by software, 2017 - 2030 (USD Million)
Table 70 U.K. OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 71 U.K. OCR market, by services, 2017 - 2030 (USD Million)
Table 72 U.K. OCR market, by vertical, 2017 - 2030 (USD Million)
Table 73 U.K. OCR market, by end-use, 2017 - 2030 (USD Million)
Table 74 Germany OCR market, by type, 2017 - 2030 (USD Million)
Table 75 Germany OCR market, by software, 2017 - 2030 (USD Million)
Table 76 Germany OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 77 Germany OCR market, by services, 2017 - 2030 (USD Million)
Table 78 Germany OCR market, by vertical, 2017 - 2030 (USD Million)
Table 79 Germany OCR market, by end-use, 2017 - 2030 (USD Million)
Table 80 France OCR market, by type, 2017 - 2030 (USD Million)
Table 81 France OCR market, by software, 2017 - 2030 (USD Million)
Table 82 France OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 83 France OCR market, by services, 2017 - 2030 (USD Million)
Table 84 France OCR market, by vertical, 2017 - 2030 (USD Million)
Table 85 France OCR market, by end-use, 2017 - 2030 (USD Million)
Table 86 Italy OCR market, by type, 2017 - 2030 (USD Million)
Table 87 Italy OCR market, by software, 2017 - 2030 (USD Million)
Table 88 Italy OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 89 Italy OCR market, by services, 2017 - 2030 (USD Million)
Table 90 Italy OCR market, by vertical, 2017 - 2030 (USD Million)
Table 91 Italy OCR market, by end-use, 2017 - 2030 (USD Million)
Table 92 Spain OCR market, by type, 2017 - 2030 (USD Million)
Table 93 Spain OCR market, by software, 2017 - 2030 (USD Million)
Table 94 Spain OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 95 Spain OCR market, by services, 2017 - 2030 (USD Million)
Table 96 Spain OCR market, by vertical, 2017 - 2030 (USD Million)
Table 97 Spain OCR market, by end-use, 2017 - 2030 (USD Million)
Table 98 APAC OCR market, 2017 - 2030 (USD Million)
Table 99 APAC OCR market, by type, 2017 - 2030 (USD Million)
Table 100 APAC OCR market, by software, 2017 - 2030 (USD Million)
Table 101 APAC OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 102 APAC OCR market, by services, 2017 - 2030 (USD Million)
Table 103 APAC OCR market, by vertical, 2017 - 2030 (USD Million)
Table 104 APAC OCR market, by end-use, 2017 - 2030 (USD Million)
Table 105 China OCR market, by type, 2017 - 2030 (USD Million)
Table 106 China OCR market, by software, 2017 - 2030 (USD Million)
Table 107 China OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 108 China OCR market, by services, 2017 - 2030 (USD Million)
Table 109 China OCR market, by vertical, 2017 - 2030 (USD Million)
Table 110 China OCR market, by end-use, 2017 - 2030 (USD Million)
Table 111 Japan OCR market, by type, 2017 - 2030 (USD Million)
Table 112 Japan OCR market, by software, 2017 - 2030 (USD Million)
Table 113 Japan OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 114 Japan OCR market, by services, 2017 - 2030 (USD Million)
Table 115 Japan OCR market, by vertical, 2017 - 2030 (USD Million)
Table 116 Japan OCR market, by end-use, 2017 - 2030 (USD Million)
Table 117 India OCR market, by type, 2017 - 2030 (USD Million)
Table 118 India OCR market, by software, 2017 - 2030 (USD Million)
Table 119 India OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 120 India OCR market, by services, 2017 - 2030 (USD Million)
Table 121 India OCR market, by vertical, 2017 - 2030 (USD Million)
Table 122 India OCR market, by end-use, 2017 - 2030 (USD Million)
Table 123 Australia OCR market, by type, 2017 - 2030 (USD Million)
Table 124 Australia OCR market, by software, 2017 - 2030 (USD Million)
Table 125 Australia OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 126 Australia OCR market, by services, 2017 - 2030 (USD Million)
Table 127 Australia OCR market, by vertical, 2017 - 2030 (USD Million)
Table 128 Australia OCR market, by end-use, 2017 - 2030 (USD Million)
Table 129 South Korea OCR market, by type, 2017 - 2030 (USD Million)
Table 130 South Korea OCR market, by software, 2017 - 2030 (USD Million)
Table 131 South Korea OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 132 South Korea OCR market, by services, 2017 - 2030 (USD Million)
Table 133 South Korea OCR market, by vertical, 2017 - 2030 (USD Million)
Table 134 South Korea OCR market, by end-use, 2017 - 2030 (USD Million)
Table 135 South America OCR market, 2017 - 2030 (USD Million)
Table 136 South America OCR market, by type, 2017 - 2030 (USD Million)
Table 137 South America OCR market, by software, 2017 - 2030 (USD Million)
Table 138 South America OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 139 South America OCR market, by services, 2017 - 2030 (USD Million)
Table 140 South America OCR market, by vertical, 2017 - 2030 (USD Million)
Table 141 South America OCR market, by end-use, 2017 - 2030 (USD Million)
Table 142 Brazil OCR market, by type, 2017 - 2030 (USD Million)
Table 143 Brazil OCR market, by software, 2017 - 2030 (USD Million)
Table 144 Brazil OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 145 Brazil OCR market, by services, 2017 - 2030 (USD Million)
Table 146 Brazil OCR market, by vertical, 2017 - 2030 (USD Million)
Table 147 Brazil OCR market, by end-use, 2017 - 2030 (USD Million)
Table 148 Argentina OCR market, by type, 2017 - 2030 (USD Million)
Table 149 Argentina OCR market, by software, 2017 - 2030 (USD Million)
Table 150 Argentina OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 151 Argentina OCR market, by services, 2017 - 2030 (USD Million)
Table 152 Argentina OCR market, by vertical, 2017 - 2030 (USD Million)
Table 153 Argentina OCR market, by end-use, 2017 - 2030 (USD Million)
Table 154 MEA OCR market, 2017 - 2030 (USD Million)
Table 155 MEA OCR market, by type, 2017 - 2030 (USD Million)
Table 156 MEA OCR market, by software, 2017 - 2030 (USD Million)
Table 157 MEA OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 158 MEA OCR market, by services, 2017 - 2030 (USD Million)
Table 159 MEA OCR market, by vertical, 2017 - 2030 (USD Million)
Table 160 MEA OCR market, by end-use, 2017 - 2030 (USD Million)
Table 161 Saudi Arabia OCR market, by type, 2017 - 2030 (USD Million)
Table 162 Saudi Arabia OCR market, by software, 2017 - 2030 (USD Million)
Table 163 Saudi Arabia OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 164 Saudi Arabia OCR market, by services, 2017 - 2030 (USD Million)
Table 165 Saudi Arabia OCR market, by vertical, 2017 - 2030 (USD Million)
Table 166 Saudi Arabia OCR market, by end-use, 2017 - 2030 (USD Million)
Table 167 UAE OCR market, by type, 2017 - 2030 (USD Million)
Table 168 UAE OCR market, by software, 2017 - 2030 (USD Million)
Table 169 UAE OCR market, by cloud-based OCR, 2017 - 2030 (USD Million)
Table 170 UAE OCR market, by services, 2017 - 2030 (USD Million)
Table 171 UAE OCR market, by vertical, 2017 - 2030 (USD Million)
Table 172 UAE OCR market, by end-use, 2017 - 2030 (USD Million)


List of Figures

Fig. 1 Research process
Fig. 2 Market formulation
Fig. 3 Industry snapshot
Fig. 4 OCR market segmentation
Fig. 5 Penetration mapping, 2030
Fig. 6 OCR - Software ecosystem analysis
Fig. 7 Market dynamics
Fig. 8 OCR market share, by type, 2022 & 2030 (USD Million)
Fig. 9 OCR market share, by vertical, 2022 & 2030 (USD Million)
Fig. 10 OCR market share, by end-use, 2022 & 2030 (USD Million)
Fig. 11 OCR regional outlook, 2022 & 2030
Fig. 12 OCR market share, by region, 2022 & 2030 (USD Million)
Fig. 13 North America OCR market - Key takeaways, 2022 & 2030, Revenue (USD Million)
Fig. 14 U.S. OCR Market, 2017 - 2030 (USD Million)
Fig. 15 Canada OCR Market, 2017 - 2030 (USD Million)
Fig. 16 Mexico OCR Market, 2017 - 2030 (USD Million)
Fig. 17 Europe OCR market- Key takeaways, 2022 & 2030, Revenue (USD Million)
Fig. 18 U.K. OCR Market, 2017 - 2030 (USD Million)
Fig. 19 Germany OCR Market, 2017 - 2030 (USD Million)
Fig. 20 France OCR Market, 2017 - 2030 (USD Million)
Fig. 21 Italy OCR Market, 2017 - 2030 (USD Million)
Fig. 22 Spain OCR Market, 2017 - 2030 (USD Million)
Fig. 23 Asia Pacific OCR market- Key takeaways, 2022 & 2030, Revenue (USD Million)
Fig. 24 China OCR Market, 2017 - 2030 (USD Million)
Fig. 25 Japan OCR Market, 2017 - 2030 (USD Million)
Fig. 26 India OCR Market, 2017 - 2030 (USD Million)
Fig. 27 Australia OCR Market, 2017 - 2030 (USD Million)
Fig. 28 South Korea OCR Market, 2017 - 2030 (USD Million)
Fig. 29 South America OCR market- Key takeaways, 2022 & 2030, Revenue (USD Million)
Fig. 30 Brazil OCR Market, 2017 - 2030 (USD Million)
Fig. 31 Argentina OCR Market, 2017 - 2030 (USD Million)
Fig. 32 MEA OCR market- Key takeaways, 2022 & 2030, Revenue (USD Million)
Fig. 33 Saudi Arabia OCR Market, 2017 - 2030 (USD Million)
Fig. 34 UAE OCR Market, 2017 - 2030 (USD Million)

What questions do you have? Get quick response from our industry experts. Request a Free Consultation

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

What questions do you have? Get quick response from our industry experts. Request a Free Consultation

Research Methodology

A three-pronged approach was followed for deducing the optical character recognition market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for optical character recognition market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of optical character recognition market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Optical Character Recognition Market Categorization:

The optical character recognition market was categorized into four segments, namely type (Software, Services), vertical (Retail, BFSI, Government, Education, Transport And Logistics, Healthcare, IT & Telecom, Manufacturing), end-use (B2B, B2C), and region (North America, Europe, Asia Pacific, South America, and Middle East & Africa).

Segment Market Methodology:

The optical character recognition market was segmented into type, vertical, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The optical character recognition market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seventeen countries, namely, the U.S.; Canada; Mexico; Germany; the UK; France; Italy; Spain; China; Japan; India; Australia; South Korea; Brazil; Argentina; Saudi Arabia; UAE.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Optical character recognition market companies & financials:

The optical character recognition market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • ABBYY - ABBYY is a leading provider of solutions for business processes, various industries, and integrated systems. It is a key player in the field of content IQ, which aids digital workforces in comprehending and deriving meaning from enterprise content. By supplementing intelligent automation platforms like BPM and RPA, enterprises utilize content IQ to enhance their digital transformation. ABBYY's offerings include solutions for accounts payable automation, content IQ, robotic process automation, contract analytics, mailroom automation, mobile capture, digital document archiving, forms processing, document classification, and eDiscovery. It also caters to various sectors such as banking and finance, insurance, healthcare, public sector, legal, Shared Service Center (SSC), and business process outsourcing with its software solutions. ABBYY provides a range of recognition techniques including optical character recognition, intelligent character recognition, optical mark recognition, and optical barcode recognition. Its partners comprise Microsoft, EMC Square, FUJITSU, Intuit Inc., Konica Minolta Business Solution Europe GMBH, Kyocera Corporation, Fiat Chrysler Automobiles (FCA), Laserfiche, Lockheed Martin Corporation, Symantec Secure One Technology, M-Files Inc., Microtek, Fuji Xerox Co. Ltd., Nuix, Dell, HUAWEI, Panasonic Corporation, Ricoh Company Ltd., Toshiba Corporation, Sharp Corporation, and Scantron.

  • Adobe - Adobe is a global software corporation that specializes in the creation of software products for creativity and multimedia, including Adobe Acrobat Reader DC, Adobe Dreamweaver CC, Adobe Flash Player, Adobe Creative Cloud, and Adobe Photoshop CC. The company's operations are divided into three segments: Digital Media, Digital Marketing, and Print & Publishing. The Digital Media segment, which contributes to nearly two-thirds of the company's total revenue, offers products that are perfect for web application developers and content creators. On the other hand, the Digital Marketing segment serves publishers, advertisers, and marketers. While Adobe operates worldwide, more than half of its revenue comes from the U.S. The company markets and sells its products through direct sales as well as retailers, systems integrators, resellers, and distributors.

  • Anyline GmbH - Anyline GmbH, a startup based in Vienna, specializes in the development of optical character recognition technology. This technology leverages AI to scan and interpret written text for a variety of applications. The company’s offerings encompass document scanning, ID scanning, license plate scanning, meter reading, and serial number scanning. It caters to a diverse range of sectors such as utilities, government, transportation and automotive, travel & hospitality, among others. Anyline GmbH has patented a technology that enables smartphones to decipher various types of codes and digitized numbers, thereby reducing the time required for manual data access and eliminating typing errors in scenarios like utility meter scanning, serial number scanning, document scanning, and passport scanning.

  • ATAPY Software - ATAPY Software is a provider of software development services in the fields of OCR/document imaging and data capture solutions. In addition, it offers top-notch contract programming services to the IT community and a variety of custom software development services in the realm of optical character recognition. The company has established a long-standing partnership with ABBYY Company, to provide substantial expertise and support in the company's product line and technologies. ATAPY Software operates across various business sectors, including OCR and data capture solutions, bespoke document imaging solutions, document management solutions and media services, and archive digitization. In the OCR and data capture solution sector, the company offers services that are based on ABBYY software and solutions that utilize modern OCR SDKs. In the custom document imaging solutions sector, the company provides on-demand document imaging filters to enhance OCR quality.

  • Captricity Inc. - In January 2019, Captricity Inc. underwent a rebranding and emerged as VIDADO. The firm offers intelligent automation solutions that cater to the needs of the financial services, insurance, and pharmaceutical sectors. It stands out as an enterprise-level solution for enriching and digitizing data at a pace and scale that meets the demands of contemporary businesses. VIDADO extends its services to sectors such as insurance, financial services, healthcare, and government. The company's platform leverages advanced OCR technology to identify, digitize, enrich, and validate data. Its robust customer base includes notable names like Symmetry Financial Group, MetLife Inc., the Federal Election Commission of the USA, NewYork Life Insurance Company, the Food and Drug Administration, and Long Term Care Associates.

  • Creaceed S.P.R.L. - Creaceed S.P.R.L. specializes in crafting creative and intuitive applications for iPad, iPhone, and Mac. The firm's suite of applications encompasses Inko, Prizmo Go, Hydra, Carbo, Prizmo, and Emulsio for iPhone and iPad. Additionally, its Mac offerings include Hydra, Prizmo, and Morph Age. The company's Prizmo application offers optical character recognition in 23 languages. Prizmo also boasts editing features, iCloud compatibility, and text-to-speech translation in 59 languages. Creaceed has introduced Prizmo 3.5, a new iteration featuring built-in OCR powered by machine learning and text translation capabilities rooted in deep neural networks.

  • CVISION Technologies, Inc. - CVISION Technologies, Inc., a subsidiary of Foxit Software, specializes in OCR text recognition and PDF conversion technologies. It provides solutions for document capture through precise OCR, facilitating rapid and superior file compression. The company's product line includes PDF Compressor, Maestro OCR Recognition Server, Rendition Server Enterprise, Foxit PDF Editor, PDFCompressor Developer's SDK, OCR Engine, PDF Optimization Suite for Captiva, OpenText Captiva, ImageOptimization for Documentum, and PDFCompressor for Kofax. It offers services like file compression, OCR, PDF conversion, PDF linearization, and PDF/A compliance for archiving. The company caters to various sectors such as banking and financial services, tax and accounting, legal, government, healthcare, education, insurance, wireless telecom, scanning bureaus, web repositories, ASPs, and news & media. Its clientele includes Adobe, United Technologies, Xerox Corporation, Merck & Co., Inc., Sprint, Barclays Bank Delaware, Eastman Kodak Company, UnitedHealth Group, Intel Corporation, Accenture, Unilever, Nissan, National Cancer Institute, Consolidated Edison Company of New York, Inc., Lockheed Martin Corporation, and The Walt Disney Company.

  • Exper-OCR, Inc. - Exper-OCR, Inc. specializes in the provision of optical character recognition services and software. The firm offers enterprise-grade optical character recognition software, which includes solutions for document imaging, form processing, data capture, and enterprise content management. Its business is divided into OCR SDK, OCR Software, and OCE services. The company provides a TypeReader server, an OCR solution that assists users in accomplishing document management and form processing tasks. It also offers a TypeReader desktop that transforms scanned documents into electronic files with enhanced features and increased speed. The company's product range also comprises WebOCR, an application mode of OCR applications. It introduces Machine Learned Fragment Analysis (MLFA), which delivers OCR technology that is faster and more accurate than traditional methods. The company caters to various industries and sectors such as IT service providers & IT experts, BPO service bureaus, start-ups, law firms, healthcare, insurance, banking & mortgage industry, traffic & logistics industry, government & non-profit organizations, architecture industry, publishing companies, and enterprise divisions.

  • Google LLC - Google LLC is an internet and computer software solution provider company. The multinational company specializes in Internet-related services and products. The company is a wholly-owned subsidiary of Alphabet, Inc. It operates its business from 70 offices in over 50 countries across the globe. The company provides several products and services including API management, AI and machine learning, computing, data analytics, databases, developer tools, hybrid and multi-cloud, IoT, migration, networking, security, storage, G-suite, Google maps platform, cloud identity, chrome enterprises, Android enterprise, and Hire by Google. Google LLC offers optical character recognition under its AI & machine learning product category. Cloud Vision API can detect and extract texts from images. It also supports offline asynchronous image annotation for all the features. Optical character recognition is further categorized as detecting text and recognizing handwriting. Google’s optical character recognition software works for over 248 global languages. The company’s voice recognition product portfolio includes Google Now and application programming interfaces such as Google Cloud Search API.

  • International Business Machines Corporation - IBM Corporation, also known as International Business Machines Corporation, is a global technology and consulting firm with operations in more than 170 countries. IBM provides solutions such as computer hardware and software, as well as IT consulting services. The company is known for its production and marketing of computer hardware, software, and middleware, and it offers infrastructure, consulting, and hosting services for a variety of applications, including nanotechnology and mainframe computers. IBM's desktop data collector segment includes optical character recognition, which allows for text extraction from graphic files. The company provides a range of services, including business, IT, outsourcing, financing, and lab services & training. Watson's Speech-to-Text is part of IBM's voice recognition offerings.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Optical Character Recognition Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2023, historic information from 2017 to 2023, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Optical Character Recognition Market Report Assumptions:

  • The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

What questions do you have? Get quick response from our industry experts. Request a Free Consultation
gvr icn

GET A FREE SAMPLE

gvr icn

This FREE sample includes data points, ranging from trend analyses to estimates and forecasts. See for yourself.

gvr icn

NEED A CUSTOM REPORT?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now

Certified Icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.