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Optical Character Recognition Market to reach a market size of $12.6 billion by 2025

IT background

Optical character recognition (OCR) is the technology used to distinguish printed or handwritten text characters within digital images of physical documents like scanned paper documents.

According to a new report Global Optical Character Recognition Market, published by KBV Research, The Global Optical Character Recognition Market size is expected to reach $12.6 billion by 2025, rising at a market growth of 13.3% CAGR during the forecast period.

The North America market dominated the Global Optical Character Recognition Integration & Deployment Market by Region 2018, growing at a CAGR of 13.9 % during the forecast period. The Europe market is expected to witness a CAGR of 14.6% during (2019-2025).

Additionally, The Asia Pacific market is expected to witness a CAGR of 17.7% during (2019-2025).

The Software market dominated the Global Optical Character Recognition Market by Component 2018, growing at a CAGR of 12.5 % during the forecast period. The Services market is expected to witness a CAGR of 16.7% during (2019-2025).

The BFSI market dominated the Global Optical Character Recognition Market by End User 2018, growing at a CAGR of 12 % during the forecast period. The Healthcare & Life Sciences market is expected to witness a CAGR of 14.5% during (2019-2025).

The Energy & Utilities market is expected to witness a CAGR of 16.4% during (2019-2025). Additionally, The Education & Legal market is expected to witness highest CAGR of 14.9% during (2019-2025).

Full Report: www.kbvresearch.com/optical…on-market/ Make an Inquiry about this news

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Microsoft Corporation, Google, Inc., Nuance Communications, Inc., Adobe, Inc., Accusoft Corporation, Ricoh Company Limited, Anyline GmbH, NTT Data Corporation and LEAD Technologies, Inc.

Global Optical Character Recognition Market Segmentation

By Component

 

Software

Desktop Based

Mobile Based

Cloud Based

Others

Services Type

Integration and Deployment

Advisory and Consulting

Support and Maintenance

By End User

BFSI

Healthcare and Life Sciences

Energy and Utilities

Education and Legal

Telecom and IT

Government and Public Sector

Others

By Geography

North America

US

Canada

Mexico

Rest of North America

Europe

Germany

UK

France

Russia

Spain

Italy

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Singapore

Malaysia

Rest of Asia Pacific

LAMEA

Brazil

Argentina

UAE

Saudi Arabia

South Africa

Nigeria

Rest of LAMEA

Companies Profiled

IBM Corporation

Microsoft Corporation

Google, Inc.

Nuance Communications, Inc.

Adobe, Inc.

Accusoft Corporation

Ricoh Company Limited

Anyline GmbH

NTT Data Corporation

LEAD Technologies, Inc.

News From

KBV ResearchKBV Research
Category: Market Research Publishers and RetailersCompany about: Knowledge Based Value (KBV) Research is a global brand and consulting firm serving all kinds of business verticals, government and non-governmental organizations, and not-for-profit organizations. Our motto is to extend our services that will have a lasting impact on our clients who trust us with their business goals. KBV Research provides syndicated market research and publishes more than 1200 Reports and Press Release covering a pool of vertical industries, inclu ...
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