openPR Logo
Press release

Optical Character Recognition (OCR) Market: OCR Revolutionizes Document Management Process for Different Businesses

12-08-2017 01:59 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
In a highly fragmented and competitive global market for optical character recognition (OCR), savvy players are leveraging a multi-pronged strategy to surge ahead of their competitors. One strategy popular with them is competitive pricing which helps to draw more consumers. Besides, they are also banking upon mergers and acquisitions and carefully-considered partnerships to expand their outreach. Addition of new services is another way in which they are looking to further enhance their market shares.

Optical character recognition is a technology has literally revolutionized the document management process in various sectors, namely legal, banking, education, healthcare, finance, and government. It has helped to transform offices into a paperless ones by helping to digitize documents and communications that have remained resistant to digitization with speed and accuracy. Those include scanned paper documents and PDF files or images captured by a digital camera.

As per Transparency Market Research, the global optical character recognition market will likely become worth US$25.182 bn by 2025-end by clocking a solid 14.8% CAGR from 2017 to 2025.

Obtain Report Details @

https://www.transparencymarketresearch.com/optical-character-recognition-market.html

Banking Sector Drives up Demand for OCR Software

The global optical character recognition market can be classified into two based on type – software and service. The software segment further includes desktop based OCR, mobile based OCR, cloud based OCR, and others such as batch OCR, server based OCR, etc. The service segment, on the other hand, includes consulting, outsourcing, and implementation and integration.

Between software and services, the two segments in the global optical character recognition market, software accounted for maximum share. In the years ahead too, software segment will retain its dominant share buoyed by the banking sector in particular. In terms of growth rate, however, the service segment is predicted to witness a higher CAGR in the forecast period.

Request Sample @

https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=16505

Massive Investments in Technology Stokes Stellar Growth in Asia Pacific Market

From a geographical standpoint, North America held maximum share in the global market for optical character recognition in 2016 because of the rapid infrastructure development and changing policies and regulations framed by the government. In the upcoming years, the region is slated to hold on to its leading position. Enterprises in the region are also opting for cloud based optical character recognition software because of its ease of use and cost effectiveness.

Vis-à-vis growth rate, Asia-Pacific optical character recognition market is slated to outpace all others by registering a CAGR of 15.6% from 2017 to 2025. The growth is mainly driven by small and medium enterprises (SME) mushrooming in the region. Besides, the growing use of optical character recognition software by IT and telecom industry for document management is serving to act as a catalyst for the Asia Pacific market. Fast-expanding developing nations of China and India are at the forefront of adopting OCR in the region on account of the massive investments in technology.

Some of the key players operating in the global market for optical character recognition are Anyline GmbH, ABBY Software Ltd., Adobe Systems Incorporated, ATAPY Software, CCi Intelligence Co. Ltd., Creaceed S.P.R.L., CVSION Technologies Inc., Exper-OCR Inc., Google Inc., LEAD Technologies Inc., I.R.I.S.S.A. (Canon), IBM Corporation, Microsoft Corporation, Nuance Communications Inc., NTT Data Corporation, Paradatec, Inc., Prime Recognition Corporation, Ripcord Inc., Transym Computer Services Ltd., Black Ice Software LLC, SEAL Systems, Ricoh Group, and Accusoft Corporation.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

Contact

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Optical Character Recognition (OCR) Market: OCR Revolutionizes Document Management Process for Different Businesses here

News-ID: 852346 • Views: 237

More Releases from Transparency Market Research

Market Intelligence Report on Calcite Market, 2018-2028
Sales of calcite have witnessed utter proliferation in recent time, in line with the growing demand from paper and pulp sector wherein calcite is highly adopted as a coating and filler material. According to Transparency Market Research analysis, global calcite market is anticipated to register 4.7% CAGR during the study period 2018–2028. The TMR report opines that demand for calcite is highly driven by its significant properties that are paving way
Pearlescent Pigments Market Intelligence Report Offers Growth Prospects
The demand within the global pearlescent pigment market is slated to rise as new creative avenues emerge in the art and craft industry. Several artists have increased the consumption of pearlescent pigments, mainly due to the aesthetic value of these pigments in art forms. The use of these pigments can majorly be attributed to the gloss and shine imparted by these pigments to the design or craft. These pigments exhibit
Aragonite Market to Witness Steady Growth During the Forecast Period 2018-2026
Global Aragonite Market: Overview Aragonite is a carbonate mineral having an orthorhombic crystal system, and very closely resembles calcite. It is considered as the purest form of calcium carbonate. The mineral has garnered wide popularity as gemstone in various parts of the world and has promising healing properties with energy enhancing powers. Aragonite contains traces of magnesium and sand inclusion but rich in calcium carbonate, and is alkaline in nature. It
OEM Insulation Market Growth, Trends and Value Chain 2019-2027 by TMR
OEM Insulation Market – Overview OEM means Original Equipment Manufacturer that indicates to a company that produces a part or a subsystem of a product that is being used by another organization. Thermal insulation or simply insulation allows the product to cut down the heat gain or loss at the minimum by creating a barrier between the surfaces at the varying temperatures. There are wide range of applications and end-use verticals

All 5 Releases


More Releases for OCR

OCR Software Market Worth Observing Growth | Exper-OCR, Google, LEAD Technologie …
The latest release from HTF MI highlights the key market trends impacting the growth of the Global OCR Software market. The study highlights influencing factors that are impacting or reinforcing market environment such as Government Policy, technological changes etc along with key market drivers. The research study forecast Revenue Opportunities and Sales Volume Area taken into consideration the primaries from industry experts and includes relevant data such as (revenue, market
Global Disclosure Management Market 2019 - Lucanet, Ocr Services, Trintech, Anaq …
The need to comply with industry regulations to sustain the market competition is one of the key factors expected to fuel the growth of this market. Additionally, the growing business expansion, particularly in the developing countries of Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America, is expected to increase the adoption of disclosure management solutions and related services, which in turn, would create further opportunities for the
2D Barcode Reader Market: Honeywell, OCR Canada, Motorola Solutions, Datalogic
MarketResearchReports.Biz adds “Global 2D Barcode Reader Market Share, Size, Trends and Forecast Market Research Report” reports to its database. This report provides a strategic analysis of the 2D Barcode Reader market and the growth estimates for the forecasted period. This report studies the global 2D Barcode Reader market status and forecast, categorizes the global 2D Barcode Reader market size (value & volume) by manufacturers, type, application, and region. This report focuses
Binary Classification Support for Better OCR Recognition & Enhanced OCR Operatio …
What’s new in this release? Aspose team is proud to announce the new release of Aspose.OCR for .NET 17.11.0. This is primarily a maintenance release whereby we have resolved certain issues incurring in API. Furthermore overall performance of the API has also been improved in this release. Binary Classification has been introduced for better OCR recognition. OCR network implemented in Player under our main OCR component to achieve better
Dynamsoft releases its Document Capture service for online OCR
Convert scanned images and pdf files to editable word document VANCOUVER – March 22, 2017 Dynamsoft is releasing a new online service, Dynamsoft Document Capture. It is an online OCR (optical character recognition) hosting service. Designed to automate information capture from scanned documents or existing PDFs, users are empowered to extract text for purposes of document management, records archive, etc. Input files: - Document scanning: Integrated with Dynamic Web TWAIN, you can scan documents,
KritiKal Designs an Efficient Container Number OCR System
KritiKal Solutions Pvt. Ltd., a technology design house, specializing in outsourced product design and R&D, has designed a Container Number OCR system which automatically identifies, records and verifies the Container ID number for both fixed and moving scenarios. The system facilitates an effective management and operations at gates, yards, and loading and unloading zones of modern ports and terminals. The system is designed for efficient container loading and unloading ensuring