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:

More Releases from Transparency Market Research

Handheld Marijuana Vaporizer Market Key Drivers, Market Research, and Insights for the USD 15.9 Bn Market 2022-2031
Handheld Marijuana Vaporizer Market Key Drivers, Market Research, and Insights f …
The global handheld marijuana vaporizer market has witnessed remarkable growth in recent years, attributed to the increasing acceptance of medicinal marijuana and the demand for convenient and discreet consumption methods. Valued at US$ 5 billion in 2021, the market is projected to surge at a CAGR of 13.4% to reach US$ 15.9 billion by 2031. This article delves into the factors driving this growth, the evolving market landscape, and the
Disinfectant Wipes Market Forecast 2020-2030 - Market Size, Drivers, Trends, And Competitors
Disinfectant Wipes Market Forecast 2020-2030 - Market Size, Drivers, Trends, And …
The COVID-19 pandemic has precipitated a remarkable surge in the demand for disinfectant products, with a notable emphasis on disinfectant wipes as an essential tool in maintaining hygiene and preventing the spread of pathogens. This research report delves into the multifaceted landscape of the disinfectant wipes market, elucidating key trends, drivers, and innovations shaping the industry. 𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=70359 Key Players and Market Developments Key players
Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Study
Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Stud …
The global 𝐭𝐢𝐬𝐬𝐮𝐞 𝐛𝐚𝐧𝐤𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 reached a value of US$ 1,056.4 million in 2017 and is projected to nearly triple to US$ 2,903.3 million by 2026, with a robust Compound Annual Growth Rate (CAGR) of approximately 12.0% from 2018 to 2026. Factors such as increasing awareness about tissue donation, technological advancements, and a growing target patient population are anticipated to propel market growth during this period. Moreover, the market is expected
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
This report by Transparency Market Research, Inc. assesses the present state and future growth potential of the global 𝐯𝐚𝐬𝐜𝐮𝐥𝐚𝐫 𝐜𝐥𝐨𝐬𝐮𝐫𝐞 𝐝𝐞𝐯𝐢𝐜𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭. It features a comprehensive executive summary, offering insights into various segments of the market. Additionally, the report provides detailed analysis and data on product, access type, application, end user, and regional segments within the global market. Vascular closure devices is estimated to reach a value of ~US$ 1 Bn

All 5 Releases


More Releases for OCR

Increasing OCR Implementation Drives Global Optical Character Recognition Market
A recent study by Triton Market Research titled 'Global Optical Character Recognition Market' comprises the Global Analysis and Forecasts by Vertical (Healthcare, Education, IT & Telecom, Manufacturing, Retail, Transport & Logistics, BFSI, Government, Others), Product (Software, Service), Operation (B2C, B2B), and Geography (Latin America, Asia-Pacific, North America, Europe, and Middle East and Africa). Request Free Sample of the Optical Character Recognition Market Report @ https://www.tritonmarketresearch.com/reports/optical-character-recognition-market#request-free-sample According to Triton's Market Research, the
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
OCR Software Market Competitive Dynamics & Global Outlook 2025
Global OCR Software Market essentials: an introduction of the market, characterizations, types, applications and supply chain scenario; OCR Software industry approaches and designs; type details; producing forms; cost structures. It also informs global fundamental regions economic situations, including the OCR Software product value, benefit, restraints, generation, demand and supply, and OCR Software industry development rate and so on. The report presents SWOT and OCR Software PESTEL analysis, speculation plausibility, and
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