Scope of the Study
Optical character recognition (OCR) or optical character reader is the electronic or mechanical conversion of images of handwritten, typed, or printed text into text of machine-encoded, whether from the scanned document, a scene-photo (for example the text on a signs and the billboards in a landscape photo), a photo of a document, or from subtitle text superimposed on an image. Optical character recognition is the technology which has literally revolutionized the process of document management in various sectors, namely legal, education, banking, healthcare, finance, and government. It has also helped in transforming the offices into a paperless one by helping to communications and digitize documents that have remained resistant for digitization with accuracy and speed. Those include PDF files and scanned paper documents or images captured by the digital camera.
The market study is being classified by Type (Desktop based OCR, Mobile based OCR, Cloud based OCR and Other), by Application (IT & Telecom, Media & Entertainment and Others) and major geographies with country level break-up.
ABBY Software (Russia), Anyline (Austria), Adobe Systems (United States), ATAPY Software (Germany), CCi Intelligence (United States), Creaceed (Belgium), Captricity (United States), Exper-OCR (United States), Google (United States) and IBM (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are LEAD Technologies (United States), Microsoft (United States) and Nuance Communications (United States).
Despite the presence of competition and brand effect problems, due to the awareness of end-users and their demand for high-end products, investors are still optimistic about this area. There will be more new investors entering into this industry in the future. The manufacturers who want to occupy the market must depend on market mechanism reform, manufacturing equipment innovation, core technology improvement, and brand establishment.
AdvanceMarketAnalytics has segmented the market of Global Optical Character Recognition market by Type, Application and Region.
On the basis of geography, the market of Optical Character Recognition has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment Mode, the sub-segment i.e. On-Premises will boost the Optical Character Recognition market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Need To Convert Several Forms of Documentation Such As PDF Files, Digital Images, and Scanned Paper Documents into Searchable and Editable Data
- Adoption of OCR Due to the Integration of Advanced Capabilities
- Increasing Investments in OCR Start-up Companies
- Advancement of Optical Character Recognition from a Special Purpose Reader to a Multi-Purpose Interactive System
- Growing Use of Text Recognition and Information Extraction
- Limitations in delivering accurate output
- High Cost of Installation of the System
- Complexity Involved in the System
- Growing Use of Big Data Analytics
- Rising Automation Demand and Emergence of Industry
- Limited Resolution Size and Storage
- Lack of Deployment in Emerging Countries
Key Target AudienceMarket Manufacturers, Raw Material Suppliers, Research Consultants, Traders, Distributors, and Suppliers, Government & Regional Agencies and Research Organizations and Investment Research Firms
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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