Global OCR Software Market by Type (Basic(Under $199/Month), Standard($199-399/Month), Senior($399+/Month)), By Application (Large Enterprises(1000+ Users), Medium-Sized Enterprise(499-1000 Users), Small Enterprises(1-499 Users)) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global OCR software market is expected to grow from USD 1.02 billion in 2018 to USD 2.48 billion by 2030, at a CAGR of 13.5% during the forecast period. The growth of the market can be attributed to the increasing demand for automation and growing need for data accuracy and security across enterprises. However, lack of awareness about OCR software solutions among small and medium-sized businesses is a major restraining factor for the growth of this market. Based on type, the global OCR software market has been segmented into basic (under 9/month), standard (9-399/month), and senior (9+/month) segments. The basic segment is expected to account for the largest share of the global OCR software market in 2018 owing to its low cost and easy deployment options across enterprises of all sizes.



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Product Definition:

O CR software is used to convert scanned images of text into editable text. It can be used to convert a scanned image of a document into a word processing document, or to automatically extract information from a scanned image into an electronic database.

Basic(Under 9/Month):

Basic(Under 9/ Month) OCR Software is used for processing scanned paper documents into editable text. It's a part of the larger category of optical character recognition (OCR), which processes printed text and converts it to digital form. The software works by scanning the document, breaking down each page into individual characters, words or lines and then saving those characters in a file.

Standard(9-399/Month):

Standard is the minimum price range for OCR software. It includes base OCR functionality along with some additional features that are usually useful for document processing and indexing. The Standard plan is best suited for small to medium-sized businesses that need to scan, capture, and convert paper documents into digital formats.

Application Insights:

The large enterprises segment dominated the global OCR software market in 2017. This can be attributed to factors such as high usage rates, preference for CRM solutions over email and growing awareness among large organizations about the benefits of digitization. The small and medium-sized enterprise (SME) segment is expected to witness significant growth over the forecast period owing to increasing adoption of cloud computing, Internet of Things (IoT), advanced analytics and mobile technologies across SMEs globally.

The standard application segment is estimated to exhibit a CAGR exceeding 12% from 2018 to 2030 owing to factors such as rising penetration of smartphones worldwide, increasing consumer spending on technology products including tablets, laptops & notebooks that support touch interfaces along with cloud-based applications are driving demand for OCR softwares in this segment. Furthermore, companies including Microsoft Corporation; Google Inc.; Apple Inc.; Samsung Electronics Co., Ltd.; Lenovo Group Ltd.

Regional Analysis:

North America dominated the global market in 2017. The growth can be attributed to the presence of a large number of players, high adoption rate for OCR software and increasing awareness about cloud based solutions among SMEs in this region. Moreover, North America is home to several technology giants such as Google Inc., Microsoft Corporation and Apple Inc., which have been consistently investing in R&D activities for developing innovative products. These factors are expected to continue driving regional growth over the forecast period.

Asia Pacific is anticipated to witness significant growth over the forecast period owing to an increase in small & medium enterprises (SMEs) that use these applications across various industries such as manufacturing, retail and others.

Growth Factors:

Increasing demand for automation in the workplace
Growing number of small and medium businesses (SMBs)
Rising need to improve efficiency and productivity in the workplace
Proliferation of mobile devices and BYOD policies
Increased focus on security and compliance


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Scope Of The Report
Report Attributes
Report Details
Report Title
OCR Software Market Research Report
By Type
Basic(Under $199/Month), Standard($199-399/Month), Senior($399+/Month)
By Application
Large Enterprises(1000+ Users), Medium-Sized Enterprise(499-1000 Users), Small Enterprises(1-499 Users)
By Companies
ABBYY Software House, Adobe, Wondershare, Veryfi, Hyland Software, Docuphase, ActivePDF, Alfresco, SearchExpress, ByteScout, Oxcyon, CVISION Technologies, OnlineOCR, MB Mygtukynas, Cognex, GRM Information Management, FreeOCR, EchoVera, Anyline, I.R.I.S. Group, OCR Solutions, Prime Recognition, Trumpet, SmartSoft
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
163
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.

Global OCR Software Market Report Segments:
The global OCR Software market is segmented on the basis of:
Types
Basic(Under $199/Month), Standard($199-399/Month), Senior($399+/Month)
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Large Enterprises(1000+ Users), Medium-Sized Enterprise(499-1000 Users), Small Enterprises(1-499 Users)
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
ABBYY Software House
Adobe
Wondershare
Veryfi
Hyland Software
Docuphase
ActivePDF
Alfresco
SearchExpress
ByteScout
Oxcyon
CVISION Technologies
OnlineOCR
MB Mygtukynas
Cognex
GRM Information Management
FreeOCR
EchoVera
Anyline
I.R.I.S. Group
OCR Solutions
Prime Recognition
Trumpet
SmartSoft



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Highlights of The OCR Software Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Basic(Under $199/Month)
Standard($199-399/Month)
Senior($399+/Month)
By Application:
Large Enterprises(1000+ Users)
Medium-Sized Enterprise(499-1000 Users)
Small Enterprises(1-499 Users)
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the OCR Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
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8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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