Optical Character Recognition Systems Global Market Report 2021: COVID-19 Impact, Growth and Drivers to 2027

Dublin, Oct. 07, 2021 (GLOBE NEWSWIRE) -- The "Global Optical Character Recognition Systems Market Size By Product, By Application, By Geographic Scope And Forecast" report has been added to ResearchAndMarkets.com's offering.

The Global Optical Character Recognition (OCR) Systems Market was valued at USD 6,805.00 Million in 2019 and is projected to reach USD 21,466.30 Million by 2027, at a long-term CAGR of 14.87% from 2020 to 2027.

The Global Optical Character Recognition (OCR) Systems Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities and challenges through which the impact of these factors in the market are outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Optical Character Recognition (OCR) Systems Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.

Global Optical Character Recognition (OCR) Systems Market Overview

Increasing applications of OCR systems in the transportation and logistics industry is a key factor that has triggered the growth of the OCR market. The warehouses and drivers are increasingly using mobile-based OCR systems to extract and read the incoming parcel codes, indexes, invoices, product catalogues, goods receipts, loading/transport, goods return among others. The trucking, rail freight, sea freight and air freight companies, along with courier, express, & parcel companies are roping in the OCR-based services to institute data management solutions.

This report provides an all-inclusive environment of the analysis for the Global Optical Character Recognition (OCR) Systems Market. The market estimates provided in the report are the result of in-depth secondary research, primary interviews and in-house expert reviews. These market estimates have been considered by studying the impact of various social, political and economic factors along with the current market dynamics affecting the Global Optical Character Recognition (OCR) Systems Market growth.

Along with the market overview, which comprises of the market dynamics the chapter includes Porter's Five Forces analysis which explains the five forces: namely buyers bargaining power, suppliers bargaining power, threat of new entrants, the threat of substitutes, and degree of competition in the Global Optical Character Recognition (OCR) Systems Market. It explains the various participants, such as system integrators, intermediaries and end-users within the ecosystem of the market. The report also focuses on the competitive landscape of the Global Optical Character Recognition (OCR) Systems Market.

Global Optical Character Recognition (OCR) Systems Market: Segmentation Analysis

The Global Optical Character Recognition (OCR) Systems Market is segmented on the basis of Product, Application, and Geography.

Companies Mentioned

• Microsoft Corporation

• IBM

• NTT DATA Corporation

• Adobe Inc.

• CVISION Technologies Inc.

• LEAD Technologies Inc.

• Anyline GmbH

• Creaceed

• IntSig Information Co. Ltd

• Prime Recognition Corporation

Key Topics Covered:

1 Introduction
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Assumptions
1.5 Limitations

2 Research Methodology
2.1 Data Mining
2.2 Secondary Research
2.3 Primary Research
2.4 Subject Matter Expert Advice
2.5 Quality Check
2.6 Final Review
2.7 Data Triangulation
2.8 Bottom-Up Approach
2.9 Top Down Approach
2.1 Research Flow

3 Executive Summary
3.1 Market Overview
3.2 Global Optical Character Recognition (Ocr) Systems Market Geographical Analysis (Cagr %)
3.3 Global Optical Character Recognition (Ocr) Systems Market, by Product (Usd Million)
3.4 Global Optical Character Recognition (Ocr) Systems Market, by Application (Usd Million)
3.5 Future Market Opportunities
3.6 Global Market Split

4 Market Outlook
4.1 Global Optical Character Recognition (OCR) Systems Market Outlook
4.2 Market Drivers
4.2.1 Growing Prominence of OCR Solution Developers on Incorporating Enhanced Technology to Improve Precision
4.2.2 Wide Range of Applications in Transforming Transport and Logistics Industry
4.3 Market Restraints
4.3.1 Lack of Accuracy in Recognition of Handwritten Material
4.4 Market Opportunities
4.4.1 Increasing Digitalization Practises Across the Globe
4.4.2 Rising Need for Id-Verification Services
4.5 Covid-19 Impact on Global Optical Character Recognition (OCR) Systems Market

5 Market, by Product
5.1 Overview
5.2 Software
5.3 Services

6 Market, by Application
6.1 Overview
6.2 Bfsi
6.3 Retail & Manufacturing
6.4 Transport and Logistics
6.5 It & Telecom
6.6 Media & Entertainment
6.7 Others

7 Market, by Geography
7.1 Overview
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 U.K.
7.3.3 France
7.3.4 Rest of Europe
7.4 Asia-Pacific
7.4.1 China
7.4.2 India
7.4.3 Japan
7.4.4 Rest of Asia-Pacific
7.5 Rest of World
7.5.1 Middle East and Africa
7.5.2 Latin America

8 Competitive Landscape
8.1 Overview
8.2 Competitive Scenario
8.3 Company Market Ranking Analysis

9 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/dzhqhq

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