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*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Optical Character Recognition (OCR) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global optical character recognition (OCR) market exhibited strong growth during 2015-2020. Optical character recognition (OCR) refers to an electronic process of converting different documents, including PDF files, scanned images, and handwritten characters, into a digital format. It is widely used in airport terminals to check passports and identity cards and ease cross-border banking transactions. Other significant applications of the OCR technology include data entry automation and indexing documents for search engines. Presently, several companies from different industry verticals are adopting OCR services for applications, including reading the numbers printed on the inside of a bottle cap or voucher codes that can be redeemed.

With rising digitalization, enterprises worldwide are integrating advanced technologies like OCR to digitize business processes and increase productivity. OCR technology helps save time and effort while creating, processing and repurposing various documents. Moreover, the increasing international air traffic is catalyzing the demand for OCR technology to scan the International Bank Account Number (IBAN) and speed up identifying and registering passengers. It is also utilized for commercial purposes, such as the check-in process of hotels. Apart from this, several companies are relying on OCR technology to provide hassle-free online registration and improve customer engagement. The increasing emphasis on introducing innovative and engaging campaigns for adapting to the changing market dynamics is further contributing to the market growth. Besides this, the integration of artificial intelligence (AI) and robot process automation is anticipated to expand the application of OCR for automatic number plate recognition, assisting blind and visually impaired persons, and scanning paper invoices. Looking forward, IMARC Group expects the global optical character recognition (OCR) market to grow at a CAGR of around 14% during the forecast period (2021-2026).

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global optical character recognition (OCR) market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type, mode of operation and vertical.

Breakup by Type:

  • Software
    • Desktop-based OCR
    • Mobile-based OCR
    • Cloud-based OCR
    • Others
  • Services
    • Consulting
    • Outsourcing
    • Implementation and Integration
       

Breakup by Mode of Operation:

  • B2B
  • B2C
     

Breakup by Vertical:

  • Retail
  • BFSI
  • Government
  • Education
  • Transport and Logistics
  • Healthcare
  • IT and Telecom
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being ABBYY, Accusoft Corporation, Adlib Software, Adobe Inc., Anyline GmbH, Creaceed S.P.R.L., CVISION Technologies Inc. (Foxit Software Incorporated), Google LLC (Alphabet Inc.), International Business Machines Corporation, LEAD Technologies Inc., Microsoft Corporation, and NTT Data Corporation (The Nippon Telegraph and Telephone Corporation).

Key Questions Answered in This Report:

  • How has the global optical character recognition (OCR) market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global optical character recognition (OCR) market?
  • What are the key regional markets?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the mode of operation?
  • What is the breakup of the market based on the vertical?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global optical character recognition (OCR) market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Optical Character Recognition (OCR) Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type
    6.1    Software
        6.1.1 Market Trends
        6.1.2 Key Segments
           6.1.2.1 Desktop-based OCR
           6.1.2.2 Mobile-based OCR
           6.1.2.3 Cloud-based OCR
           6.1.2.4 Cloud-based OCR
        6.1.3 Market Forecast
    6.2    Services
        6.2.1 Market Trends
        6.2.2 Key Segments
           6.2.2.1 Consulting
           6.2.2.2 Outsourcing
           6.2.2.3 Implementation and Integration
        6.2.3 Market Forecast
7    Market Breakup by Mode of Operation
    7.1    B2B
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    B2C
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by Vertical
    8.1    Retail
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    BFSI
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Government
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Education
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Transport and Logistics
        8.5.1 Market Trends
        8.5.2 Market Forecast
    8.6    Healthcare
        8.6.1 Market Trends
        8.6.2 Market Forecast
    8.7    IT and Telecom
        8.7.1 Market Trends
        8.7.2 Market Forecast
    8.8    Others
        8.8.1 Market Trends
        8.8.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    ABBYY
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
        14.3.2    Accusoft Corporation
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
        14.3.3    Adlib Software
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
        14.3.4    Adobe Inc.
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
           14.3.4.3 Financials
           14.3.4.4 SWOT Analysis
        14.3.5    Anyline GmbH
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
        14.3.6    Creaceed S.P.R.L.
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
        14.3.7    CVISION Technologies Inc. (Foxit Software Incorporated)
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
        14.3.8    Google LLC (Alphabet Inc.)
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
           14.3.8.3 SWOT Analysis
        14.3.9    International Business Machines Corporation
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials
           14.3.9.4 SWOT Analysis
        14.3.10    LEAD Technologies Inc.
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
        14.3.11    Microsoft Corporation
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
           14.3.11.3 Financials
           14.3.11.4 SWOT Analysis
        14.3.12    NTT Data Corporation (The Nippon Telegraph and Telephone Corporation)
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio
           14.3.12.3 Financials
           14.3.12.4 SWOT Analysis

List of Figures

Figure 1: Global: Optical Character Recognition Market: Major Drivers and Challenges
Figure 2: Global: Optical Character Recognition Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Optical Character Recognition Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 4: Global: Optical Character Recognition Market: Breakup by Type (in %), 2020
Figure 5: Global: Optical Character Recognition Market: Breakup by Mode of Operation (in %), 2020
Figure 6: Global: Optical Character Recognition Market: Breakup by Vertical (in %), 2020
Figure 7: Global: Optical Character Recognition Market: Breakup by Region (in %), 2020
Figure 8: Global: Optical Character Recognition (Software) Market: Sales Value (in Million US$), 2015 & 2020
Figure 9: Global: Optical Character Recognition (Software) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 10: Global: Optical Character Recognition (Services) Market: Sales Value (in Million US$), 2015 & 2020
Figure 11: Global: Optical Character Recognition (Services) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: Global: Optical Character Recognition (B2B) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Global: Optical Character Recognition (B2B) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: Optical Character Recognition (B2C) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: Optical Character Recognition (B2C) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: Optical Character Recognition (Retail) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: Optical Character Recognition (Retail) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: Optical Character Recognition (BFSI) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: Optical Character Recognition (BFSI) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Global: Optical Character Recognition (Government) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Global: Optical Character Recognition (Government) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Global: Optical Character Recognition (Education) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Global: Optical Character Recognition (Education) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Global: Optical Character Recognition (Transport and Logistics) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Global: Optical Character Recognition (Transport and Logistics) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Global: Optical Character Recognition (Healthcare) Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Global: Optical Character Recognition (Healthcare) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Global: Optical Character Recognition (IT and Telecom) Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Global: Optical Character Recognition (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Global: Optical Character Recognition (Other Verticals) Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: Global: Optical Character Recognition (Other Verticals) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: North America: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 33: North America: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: United States: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: United States: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: Canada: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: Canada: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: Asia-Pacific: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: Asia-Pacific: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: China: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: China: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: Japan: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: Japan: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: India: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 45: India: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 46: South Korea: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 47: South Korea: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 48: Australia: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 49: Australia: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 50: Indonesia: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 51: Indonesia: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 52: Others: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 53: Others: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 54: Europe: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 55: Europe: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 56: Germany: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 57: Germany: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 58: France: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 59: France: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 60: United Kingdom: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 61: United Kingdom: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 62: Italy: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 63: Italy: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 64: Spain: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 65: Spain: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 66: Russia: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 67: Russia: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 68: Others: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 69: Others: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 70: Latin America: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 71: Latin America: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 72: Brazil: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 73: Brazil: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 74: Mexico: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 75: Mexico: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 76: Others: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 77: Others: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 78: Middle East and Africa: Optical Character Recognition Market: Sales Value (in Million US$), 2015 & 2020
Figure 79: Middle East and Africa: Optical Character Recognition Market: Breakup by Country (in %), 2020
Figure 80: Middle East and Africa: Optical Character Recognition Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 81: Global: Optical Character Recognition Industry: SWOT Analysis
Figure 82: Global: Optical Character Recognition Industry: Value Chain Analysis
Figure 83: Global: Optical Character Recognition Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Optical Character Recognition Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Optical Character Recognition Market Forecast: Breakup by Type (in Million US$), 2021-2026
Table 3: Global: Optical Character Recognition Market Forecast: Breakup by Mode of Operation (in Million US$), 2021-2026
Table 4: Global: Optical Character Recognition Market Forecast: Breakup by Vertical (in Million US$), 2021-2026
Table 5: Global: Optical Character Recognition Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 6: Global: Optical Character Recognition Market: Competitive Structure
Table 7: Global: Optical Character Recognition Market: Key Players

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