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Optical Character Recognition (OCR) Market Size, Trends and Analysis by IT Infrastructure, End-use, Vertical, Region and Segment Forecast, 2023-2030

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    Report

  • 233 Pages
  • May 2023
  • Region: Global
  • GlobalData
  • ID: 5822980
Description Jump to:
This market intelligence report offers a thorough, forward-looking analysis of the global optical character recognition (OCR) market by IT infrastructure, end-use, vertical, regional segments, and key opportunities in a concise format to help executives build proactive and profitable growth strategies.

The optical character recognition (OCR) market will be valued at $11.7 billion in 2023 and is expected to grow at a CAGR of 15.4% over the forecast period (2023-2030). The OCR report provides an executive-level overview of the OCR industry worldwide today, with detailed forecasts of key indicators up to 2030.

Key Highlights

The global optical character recognition (OCR) market will be valued at $11.7 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 15.4% over the forecast period. The use of OCR technology continues to evolve and expand as businesses and individuals recognize its potential to streamline workflows, improve data management, and enhance accessibility to information. OCR technology has experienced a significant boost in the market in recent years due to increasing demand for OCR being deployed to automate data entry tasks by capturing information from forms, invoices, surveys, or other structured documents. It eliminates manual data entry errors, accelerates data processing, and improves overall accuracy.

Scope

  • This report provides overview and service addressable market for Optical Character Recognition (OCR) market
  • It identifies the key drivers and challenges impacting growth of the OCR market over the next 12 to 24 months
  • It includes global market forecasts for the OCR market and analysis of latest M&A deals, macroeconomic trends, technology trends, regulatory trends,
  • It contains details of latest M&A deals in the OCR space and a timeline highlighting milestones in the development of OCR technology
  • The detailed value chain consists of five layers: Hardware Manufacturers, Input Data Preparation, OCR Software Development, Integration and Distribution, and End Users

Reasons to Buy

  • This market intelligence report offers a thorough, forward-looking analysis of the global optical character recognition (OCR) market by IT infrastructure, end-use, vertical, regional segments, and key opportunities in a concise format to help executives build proactive and profitable growth strategies
  • Accompanying the publisher's Forecast products, the report examines the drivers, challenges, M&A deals, use cases, and trend analysis in OCR market
  • Detailed segmentation by IT infrastructure type - software and service. Further, the report also highlights segmentation at end-use level - B2B and B2C along with vertical and regional segmentation
  • The report includes 100+ charts and tables providing in-depth analysis of the market size, forecast, and supporting factors which are tailor-made for an executive-level audience, with enhanced presentation quality
  • The report provides an easily digestible market assessment for decision-makers built around in-depth information gathered from local market players, which enables executives to quickly get up to speed with the current and emerging trends in OCR markets
  • The competitive section of the report helps in identifying the flagbearers, experimenters, contenders, and specialists based on their growth and innovation performance in the OCR industry which will help stakeholders analyse competition penetration
  • The broad perspective of the report coupled with comprehensive, actionable detail will help OCR vendors and other companies succeed in the growing OCR market globally.

Table of Contents

Chapter 1 Executive SummaryChapter 2 Research Scope and Segmentation
Chapter 3 Market Overview
3.1 Understanding the Optical Character Recognition (OCR) Technology
3.2 Timeline Of Optical Character Recognition (OCR) Technology
3.3 Applications of Optical Character Recognition (OCR) Technology
3.4 Future of Optical Character Recognition (OCR) Technology
3.5 Use Cases of Optical Character Recognition (OCR) Technology
Chapter 4 Optical Character Recognition (OCR) - Industry Trend Analysis
4.1 Industry Value Chain
4.2 Process Stages
4.3 Optical Character Recognition (OCR) - Market Drivers
4.4 Optical Character Recognition (OCR) - Market Challenges
4.5 Optical Character Recognition (OCR) - Technological Trends
4.6 Optical Character Recognition (OCR) - Macroeconomic Trends
4.7 Optical Character Recognition (OCR) - Regulatory Trends
Chapter 5 Optical Character Recognition (OCR) Segment Outlook
5.1 Global Optical Character Recognition (OCR) Market - Revenue Snapshot
5.2 Global Optical Character Recognition (OCR) Market - By IT Infrastructure, 2021-2030 ($ Million)
5.3 Global Optical Character Recognition (OCR) Market - By End-use, 2021-2030 ($ Million)
5.4 Global Optical Character Recognition (OCR) Market - By Region, 2021-2030 ($ Million)
5.5 Global Optical Character Recognition (OCR) Market - By Vertical, 2021-2030 ($ Million)
Chapter 6 Optical Character Recognition (OCR) Regional Outlook
Chapter 7 Competitive Landscape
7.1 OCR Vendor Competitive Landscape
7.2 Latest M&A Deals in OCR Market
7.3 Key Venture Financing/Private Equity Investors in the OCR Market
Chapter 8 Company Profiles
8.1 ADOBE Inc
8.2 International Business Machines Corp
8.3 Microsoft Corp
8.4 Open Text Corp
8.5 Amazon Web Services Inc
8.6 Google LLC
8.7 Nuance Communications Inc
8.8 ABBYY
8.9 Kofax Inc
8.10 Nano Net Technologies Inc (NanoNets)
Chapter 9 Research MethodologyChapter 10 About the Publisher
List of Tables
Table 1: Global OCR Market by IT Infrastructure ($M), 2021-2030
Table 2: Global OCR Market by End-Use ($M), 2021-2030
Table 3: Global OCR Market by Region ($M), 2021-2030
Table 4: Global OCR Market by Vertical ($M), 2021-2030
Table 5: North America OCR Market by IT Infrastructure ($M), 2021-2030
Table 6: North America OCR Market by End-Use ($M), 2021-2030
Table 7: North America OCR Market by Vertical ($M), 2021-2030
Table 8: US OCR Market by IT Infrastructure ($M), 2021-2030
Table 9: US OCR Market by End-Use ($M), 2021-2030
Table 10: US OCR Market by Vertical ($M), 2021-2030
Table 11: Canada OCR Market by IT Infrastructure ($M), 2021-2030
Table 12: Canada OCR Market by End-Use ($M), 2021-2030
Table 13: Canada OCR Market by Vertical ($M), 2021-2030
Table 14: Europe OCR Market by IT Infrastructure ($M), 2021-2030
Table 15: Europe OCR Market by End-Use ($M), 2021-2030
Table 16: Europe OCR Market by Vertical ($M), 2021-2030
Table 17: UK OCR Market by IT Infrastructure ($M), 2021-2030
Table 18: UK OCR Market by End-Use ($M), 2021-2030
Table 19: UK OCR Market by Vertical ($M), 2021-2030
Table 20: Germany OCR Market by IT Infrastructure ($M), 2021-2030
Table 21: Germany OCR Market by End-Use ($M), 2021-2030
Table 22: Germany OCR Market by Vertical ($M), 2021-2030
Table 23: France OCR Market by IT Infrastructure ($M), 2021-2030
Table 24: France OCR Market by End-Use ($M), 2021-2030
Table 25: France OCR Market by Vertical ($M), 2021-2030
Table 26: Russia OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Table 27: Russia OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Table 28: Russia OCR Market by Vertical ($M), 2021-2030
Table 29: Rest of Europe OCR Market by IT Infrastructure ($M), 2021-2030
Table 30: Rest of Europe OCR Market by End-Use ($M), 2021-2030
Table 31: Rest of Europe OCR Market by Vertical ($M), 2021-2030
Table 32: Asia-Pacific OCR Market by IT Infrastructure ($M), 2021-2030
Table 33: Asia-Pacific OCR Market by End-Use ($M), 2021-2030
Table 34: Asia-Pacific OCR Market by Vertical ($M), 2021-2030
Table 35: China OCR Market by IT Infrastructure ($M), 2021-2030
Table 36: China OCR Market by End-Use ($M), 2021-2030
Table 37: China OCR Market by Vertical ($M), 2021-2030
Table 38: Japan OCR Market by IT Infrastructure ($M), 2021-2030
Table 39: Japan OCR Market by End-Use ($M), 2021-2030
Table 40: Japan OCR Market by Vertical ($M), 2021-2030
Table 41: India OCR Market by IT Infrastructure ($M), 2021-2030
Table 42: India OCR Market by End-Use ($M), 2021-2030
Table 43: India OCR Market by Vertical ($M), 2021-2030
Table 44: Australia OCR Market by IT Infrastructure ($M), 2021-2030
Table 45: Australia OCR Market by End-Use ($M), 2021-2030
Table 46: Australia OCR Market by Vertical ($M), 2021-2030
Table 47: Indonesia OCR Market by IT Infrastructure ($M), 2021-2030
Table 48: Indonesia OCR Market by End-Use ($M), 2021-2030
Table 49: Indonesia OCR Market by Vertical ($M), 2021-2030
Table 50: Rest of Asia-Pacific OCR Market by IT Infrastructure ($M), 2021-2030
Table 51: Rest of Asia-Pacific OCR Market by End-Use ($M), 2021-2030
Table 52: Rest of Asia-Pacific OCR Market by Vertical ($M), 2021-2030
Table 53: South & Central America OCR Market by IT Infrastructure ($M), 2021-2030
Table 54: South & Central America OCR Market by End-Use ($M), 2021-2030
Table 55: South & Central America OCR Market by Vertical ($M), 2021-2030
Table 56: Brazil OCR Market by IT Infrastructure ($M), 2021-2030
Table 57: Brazil OCR Market by End-Use ($M), 2021-2030
Table 58: Brazil OCR Market by Vertical ($M), 2021-2030
Table 59: Argentina OCR Market by IT Infrastructure ($M), 2021-2030
Table 60: Argentina OCR Market by End-Use ($M), 2021-2030
Table 61: Argentina OCR Market by Vertical ($M), 2021-2030
Table 62: Mexico OCR Market by IT Infrastructure ($M), 2021-2030
Table 63: Mexico OCR Market by End-Use ($M), 2021-2030
Table 64: Mexico OCR Market by Vertical ($M), 2021-2030
Table 65: Rest of South & Central America OCR Market by IT Infrastructure ($M), 2021-2030
Table 66: Rest of South & Central America OCR Market by End-Use ($M), 2021-2030
Table 67: Rest of South & Central America OCR Market by Vertical ($M), 2021-2030
Table 68: Middle East & Africa OCR Market by IT Infrastructure ($M), 2021-2030
Table 69: Middle East & Africa OCR Market by End-Use ($M), 2021-2030
Table 70: Middle East & Africa OCR Market by Vertical ($M), 2021-2030
Table 71: UAE OCR Market by IT Infrastructure ($M), 2021-2030
Table 72: UAE OCR Market by End-Use ($M), 2021-2030
Table 73: UAE OCR Market by Vertical ($M), 2021-2030
Table 74: South Africa OCR Market by IT Infrastructure ($M), 2021-2030
Table 75: South Africa OCR Market by End-Use ($M), 2021-2030
Table 76: South Africa OCR Market by Vertical ($M), 2021-2030
Table 77: Saudi Arabia OCR Market by IT Infrastructure ($M), 2021-2030
Table 78: Saudi Arabia OCR Market by End-Use ($M), 2021-2030
Table 79: Saudi Arabia OCR Market by Vertical ($M), 2021-2030
Table 80: Rest of Middle East & Africa OCR Market by IT Infrastructure ($M), 2021-2030
Table 81: Rest of Middle East & Africa OCR Market by End-Use ($M), 2021-2030
Table 82: Rest of Middle East & Africa OCR Market by Vertical ($M), 2021-2030
Table 83: Latest M&A deals
List of Figures
Figure 1: Optical Character Recognition (OCR) Market by Vertical, 2022 ($ Million)
Figure 2: Optical Character Recognition (OCR) by IT Infrastructure, 2022 ($ Million)
Figure 3: Optical Character Recognition (OCR) by End-Use, 2022 ($ Million)
Figure 4: Optical Character Recognition (OCR) Market by Region, 2022 ($ Million)
Figure 5: OCR Market - Segmentation
Figure 6: OCR Timeline
Figure 7: Optical Character Recognition - Industry Value Chain
Figure 8: OCR Process - Stages
Figure 9: Global OCR Market Size & Forecasts ($B), 2021-2030
Figure 10: Global OCR Key Companies, 2022
Figure 11: Global OCR Share by Top Five Countries (%), 2022-2030
Figure 12: Global OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 13: Global OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 14: Global OCR Market Estimates ($M) & CAGR (%), By Region (2023 vs 2030)
Figure 15: Global OCR Market by Vertical ($M), 2021-2030
Figure 16: OCR Regional Overview ($B), 2023 & 2030
Figure 17: North America OCR Market ($B), 2021-2030
Figure 18: North America - Key Countries Market CAGR (2023-2030)
Figure 19: North America OCR Market Share by Country, 2022 vs 2030 (%)
Figure 20: North America OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 21: North America OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 22: North America OCR Market by Vertical ($M), 2021-2030
Figure 23: US OCR Market ($M), 2021-2030
Figure 24: US OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 25: US OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 26: US OCR Market by Vertical ($M), 2021-2030
Figure 27: Canada OCR Market ($M), 2021-2030
Figure 28: Canada OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 29: Canada OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 30: Canada OCR Market by Vertical ($M), 2021-2030
Figure 31: Europe OCR Market ($B), 2021-2030
Figure 32: Europe - Key Countries Market CAGR (2023-2026)
Figure 33: Europe OCR Market Share By Country, 2022 vs 2030 (%)
Figure 34: Europe OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 35: Europe OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 36: Europe OCR Market by Vertical ($M), 2021-2030
Figure 37: UK OCR Market ($M), 2021-2030
Figure 38: UK OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 39: UK OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 40: UK OCR Market by Vertical ($M), 2021-2030
Figure 41: Germany OCR Market ($M), 2021-2030
Figure 42: Germany OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 43: Germany OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 44: Germany OCR Market by Vertical ($M), 2021-2030
Figure 45: France OCR Market ($M), 2021-2030
Figure 46: France OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 47: France OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 48: France OCR Market by Vertical ($M), 2021-2030
Figure 49: Russia OCR Market ($M), 2021-2030
Figure 50: Russia OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 51: Russia OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 52: Russia OCR Market by Vertical ($M), 2021-2030
Figure 53: Rest of Europe OCR Market ($M), 2021-2030
Figure 54: Rest of Europe OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 55: Rest of Europe OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 56: Rest of Europe OCR Market by Vertical ($M), 2021-2030
Figure 57: Asia-Pacific OCR Market ($B), 2021-2030
Figure 58: Asia-Pacific - Key Countries Market CAGR (2023-2030)
Figure 59: Asia-Pacific OCR Market Share By Country, 2022 vs 2030 (%)
Figure 60: Asia-Pacific OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 61
: Asia-Pacific OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 62: Asia-Pacific OCR Market by Vertical ($M), 2021-2030
Figure 63: China OCR Market ($M), 2021-2030
Figure 64: China OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 65: China OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 66: China OCR Market by Vertical ($M), 2021-2030
Figure 67: Japan OCR Market ($M), 2021-2030
Figure 68: Japan OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 69: Japan OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 70: Japan OCR Market by Vertical ($M), 2021-2030
Figure 71: India OCR Market ($M), 2021-2030
Figure 72: India OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 73: India OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 74: India OCR Market by Vertical ($M), 2021-2030
Figure 75: Australia OCR Market ($M), 2021-2030
Figure 76: Australia OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 77: Australia OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 78: Australia OCR Market by Vertical ($M), 2021-2030
Figure 79: Indonesia OCR Market ($M), 2021-2030
Figure 80: Indonesia OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 81: Indonesia OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 82: Indonesia OCR Market by Vertical ($M), 2021-2030
Figure 83: Rest of Asia-Pacific OCR Market ($M), 2021-2030
Figure 84: Rest of Asia-Pacific OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030
Figure 85: Rest of Asia-Pacific OCR Market Size & Forecasts by End-Use ($M), 2021-2030
Figure 86: Rest of Asia-Pacific OCR Market by Vertical ($M), 2021-2030
Figure 87: South & Central America OCR Market ($B), 2021-2030
Figure 88: South & Central America - Key Countries Market CAGR (2023-2030)
Figure 89: South & Central America OCR Market Share by Country, 2022 vs 2030 (%)
Figure 90: South & Central America OCR Market Size & Forecasts by IT Infrastructure ($M), 2021-2030

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • ADOBE Inc
  • International Business Machines Corp
  • Microsoft Corp
  • Open Text Corp
  • Amazon Web Services Inc
  • Google LLC
  • Nuance Communications Inc
  • ABBYY
  • Kofax Inc
  • Nano Net Technologies Inc (NanoNets)

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