Global Optical Character Recognition Market Growth Attributed to Rising Adoption Across Diverse Verticals

According to a new market research report launched by Inkwood Research, the Global Optical Character Recognition Market is anticipated to grow with a CAGR of 15.74% during the forecast period of 2022 to 2030, generating a revenue of $34789.18 by 2030.

Optical Character Recognition Market: https://inkwoodresearch.com/reports/optical-character-recognition-market/?utm_source=PaidPRNew&utm_medium=OpenPR&utm_campaign=InkwoodPR

Browse 51 market data Tables and 45 figures spread over 188 Pages, along with an in-depth analysis of the Global Optical Character Recognition Market by Component, End-User, Industry & by Geography

This insightful market research report by Inkwood Research focuses on market trends, leading players, supply chain trends, technological innovations, key developments, and future strategies. The report covers all the aspects of this comprehensive market by assessing major geographies and is a valuable asset for the existing players, new entrants, and future investors. The study presents a detailed market analysis, with inputs derived from industry professionals across the value chain.

Global Optical Character Recognition Market Scenario

The global optical character recognition market growth is primarily accredited to the rise in implementation of OCR across diversified verticals, improved customer support as well as higher document protection, and the increasing adoption of OCR solution developers in advanced technology.

Optical character recognition technology helps convert the text in images as well as videos into an editable format. OCR's applications are spread across several industries. For instance, in the logistics and transportation sector, OCR helps with scanning and tracking numbers and postal codes instead of noting them down physically. As a result, this factor accelerates the overall processing, tracking, and shipping of packages, thereby reducing expenses. On the other hand, within the banking industry, OCR-based applications are utilized to scan various types of receipts, documents, and checks, subsequently converting all the information and data into an editable format.
Hence, the application of OCR across various verticals helps fuel the global optical character recognition market growth over the projected years.

The Global Optical Character Recognition Market report provides data tables and includes charts and graphs for visual analysis.

Request Free Sample Report for Global Optical Character Recognition Market by End-User, Industry, Component & by Geography: https://www.inkwoodresearch.com/reports/Optical-character-recognition-market/#request-free-sample

Market Segmentation
Market by Component
• Software
• Service
Market by Industry
• BFSI
• Transport & Logistic
• IT & Telecom
• Manufacturing
• Retail
• Healthcare
• Government
• Education
• Others
Market by End-User
• B2B
• B2C

Report Highlights
- The report provides a detailed analysis of the current and future market trends to identify the investment opportunities
- Market forecasts till 2030, using estimated market values as the base numbers
- Key market trends across the business segments, regions and countries
- Key developments and strategies observed in the market
- Market dynamics such as drivers, restraints, opportunities and other trends
- In-depth company profiles of key players and upcoming prominent players
- Growth prospects among the emerging nations through 2030

Companies Profiled
• NUANCE COMMUNICATIONS INC
• ADOBE SYSTEMS INC
• ABBYY
• MICROSOFT CORP
• GOOGLE LLC
• FOXIT SOFTWARE INC
• EXPERVISION INC
• IRIS GROUP SA
• LEAD TECHNOLOGIES
• INTSIG INFORMATION CO LTD
• IBM
• CREACEED
• CAPTRICITY INC (ACQUIRED BY SS&C)
• ANYLINE GMBH

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GLOBAL AUTOMOTIVE CAMERA MARKET - The global automotive camera market is predicted to capture a revenue of $18.20 billion by 2028, developing at a CAGR of 14.82% during the forecast period of 2021 to 2028.

GLOBAL AUTOMOTIVE ROBOTICS MARKET - The global automotive robotics market is set to progress with a CAGR of 12.16% over the forecasting years of 2021-2028.

GLOBAL FACIAL RECOGNITION MARKET - The global facial recognition market is expected to grow with a CAGR of 14.41% during the forecast years of 2019 to 2028.

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This release was published on openPR.