The optical character recognition market value, which was USD 9.44 billion in 2021, is expected to reach the value of USD 35.48 billion by 2029, at a CAGR of 18% during the forecast period 2022-2029.
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Market Analysis and Size
The growth can be attributed to factors similar to the rising position of digitization among enterprises, the rise the in use of artificial intelligence for document scanning and recognition purposes which has increased delicacy situations, the increase in demand for OCR systems with multi-language support capabilities, etc.
Data Bridge Market Research analyses that the optical character recognition market value, which was USD 9.44 billion in 2021, is expected to reach the value of USD 35.48 billion by 2029, at a CAGR of 18% during the forecast period 2022-2029. The optical character recognition market report also covers pricing analysis, patent analysis, and technological advancements in depth.
Global Optical Character Recognition Market Scope
- Media and Entertainment
- IT and Telecom
- Transport and Logistics
- Retail and Manufacturing
- Enterprise Size
- Small and Medium Enterprises
- Large Enterprises
- The widespread optical character recognition market report takes into account an analysis of existing major challenges faced by the business and the probable future challenges that the business may have to face while operating in this market. The competitive analysis carried out in this industry analysis report includes strategic profiling of key market players, their core competencies, their strong and weak points, and the competitive landscape of the market which supports businesses to illustrate their individual strategies. No stone is left unturned while analyzing the market and preparing The optical character recognition market research report in a presentable form to meet the expectation of users.
Global Optical Character Recognition Market Regional Analysis/Insights
The optical character recognition market is analyzed and market size insights and trends are provided by country, product, application, enterprise size, and mode of operation as referenced above.
The countries covered in the optical character recognition market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Competitive Landscape and Optical Character Recognition Market Share Analysis
Some of the major players operating in the optical character recognition market are:
- Google Inc.(US)
- Microsoft Corporation (US)
- NTT DATA Corporation (Japan)
- Adobe Inc.(US)
- Crunchbase inc.(US)
- Prime Recognition (US)
- IntSig Information Co.,Ltd. Corporation (China)
- NICE (UK)
- Genesys (US)
- Cisco Systems Inc (US)
- Avaya Inc(US)
- Five9 Inc (US)
- Talkdesk (US)
- Vonage (US)
- 8x8 Inc (US)
- Amazon Web Services, Inc. (US)
- Atos SE (France)
- ALE International (France)
- SAP SE (Sweden)
- Oracle (US)
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MAJOR TOC OF THE REPORT
- Chapter One: Introduction
- Chapter Two: Market Segmentation
- Chapter Three: Market Overview
- Chapter Four: Executive Summary
- Chapter Five: Optical Character Recognition Market
- Get TOC Details
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