Market by Product, Operation, Vertical, and Country Outlook | Forecast 2022-2028
Based on Triton’s report, the
optical character recognition market in Asia-Pacific is expected to progress
with a CAGR of 17.39% during the
forecasted period 2022-2028.
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The
countries examined in the region include:
•
China
•
Japan
•
India
•
South Korea
•
ASEAN Countries
•
Australia
•
Rest of Asia-Pacific
China
secures major shares in the optical character recognition market. The surge in AI investments has accelerated
the market’s growth to a large extent. Moreover, the evolving technology sector
across emerging economies has increased the demand for OCR products. The advent
of startup culture across the region is another factor fueling the demand for
OCR solutions across industries. This has led several international companies
to expand their footings and establish operations in the region. Thus, as
stated above, all these factors propel the optical character recognition market
on a growth path.
Optical character recognition solutions have
observed significant potential in the Chinese market. In this regard, Chinese
OCR helps convert complex Chinese characters to editable formats. The latest
versions of ReadIRIS and Nuance OmniPage support traditional and simplified
Chinese characters in their base packages. The rising integration of OCR for
government paperwork, education, and other applications has boosted the
market’s growth. Besides this, OCR helps tourists decipher the texts easily,
ensuring an easy commute. Such wide applications of OCR fuels the market’s
growth.
In Japan, optical character recognition
technology has been used for several years. For instance, Easy Screen OCR is
integrated with Google OCR engine technology, converting images into editable
text. Moreover, it offers high accuracy in terms of editing and formatting the
texts. This technology, available for Mac and Windows, has gained significant
traction among Japanese users. Thus, the high adoption of OCR solutions widens
the market’s scope.
Optical character recognition software converts
pictures or handwritten material into text. It analyzes a document and compares
it with fonts in the existing database. Some OCR software scans through a spell
checker to identify unrecognized words. They are widely opted by students,
researchers, and corporate employees. The
market’s growth is assessed based on product, vertical, and operation. The
product segment includes software and service.
The
notable companies in the market include Creaceed, Expervision Inc, IntSig
Information Co Ltd, Iris Group SA, and Foxit Software Inc.
IntSig Information Co Ltd is an optical
character recognition-based solution provider that serves various end-users, including
banks, smartphone manufacturers, government, and internet users. The company
offers various OCR solutions, such as bank card recognition, text OCR, ID
verification, image enhancement, customized development supporting vehicle
licenses, receipts, etc. Additionally, these solutions are used for various
purposes like mobile payment, document scanning, e-retail, CRM, enhancement,
enterprise operation efficiency, and others. IntSig has operations across
numerous countries, with headquarters in China.
Key deliverables of the report:
● Market CAGR during the forecasting years 2022-2028
● Detailed data highlighting key insights, industry components, and market strategies
● Comprehensive information and estimation of the optical character recognition market revenue growth in the Asia-Pacific and its influence on the parent market
● In-depth study of forthcoming trends in consumer behavioral patterns
● A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces
● A wide-ranging study of factors that will challenge the APAC
optical character recognition market’s growth during the upcoming years
Want to get specific insights? Our team of
analysts can customize this report based on your preferences. Connect with us here.
Market by Technology (Data ana ..
VIEW REPORT1. ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
OF COVID-19 ON THE OPTICAL CHARACTER RECOGNITION MARKET
2.2. KEY
INSIGHTS
2.2.1. INCREASING
INVESTMENTS IN OCR START-UP COMPANIES
2.2.2. RISE
IN BENEFITS OF INTEGRATED TECHNOLOGIES
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTES
2.3.3. BARGAINING
POWER OF BUYERS
2.3.4. BARGAINING
POWER OF SUPPLIERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. MARKET
ATTRACTIVENESS INDEX
2.5. VENDOR
SCORECARD
2.6. INDUSTRY
COMPONENTS
2.7. KEY
MARKET STRATEGIES
2.7.1. MERGERS
2.7.2. PRODUCT
LAUNCHES
2.7.3. PARTNERSHIPS
2.7.4. BUSINESS
EXPANSIONS
2.8. MARKET
DRIVERS
2.8.1. ADVANCED
DOCUMENT PROTECTION AND BETTER CUSTOMER SUPPORT
2.8.2. GROWING
IMPLEMENTATION OF OCR SOLUTIONS IN ADVANCED TECHNOLOGY
2.8.3. RISE
IN OCR ADOPTION ACROSS DIVERSIFIED INDUSTRY VERTICALS
2.9. MARKET
CHALLENGES
2.9.1. LIMITATIONS
IN DELIVERING ACCURATE OUTPUT
2.9.2. LACK
OF ACCURACY IN RECOGNIZING HANDWRITTEN MATERIAL
2.10. MARKET
OPPORTUNITIES
2.10.1. INCREASING
DIGITALIZATION PRACTICES ACROSS THE GLOBE
2.10.2. RISING
NEED FOR ID VERIFICATION SERVICE
3. ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET OUTLOOK - BY PRODUCT
3.1. SOFTWARE
3.2. SERVICE
4. ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET OUTLOOK - BY OPERATION
4.1. B2B
4.2. B2C
5. ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET OUTLOOK - BY VERTICAL
5.1. BFSI
5.2. TRANSPORT
& LOGISTICS
5.3. HEALTHCARE
5.4. GOVERNMENT
5.5. EDUCATION
5.6. IT
& TELECOM
5.7. MANUFACTURING
5.8. RETAIL
5.9. OTHERS
6. ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET – COUNTRY OUTLOOK
6.1. CHINA
6.2. JAPAN
6.3. INDIA
6.4. AUSTRALIA
6.5. SOUTH
KOREA
6.6. ASEAN
COUNTRIES
6.7. REST
OF ASIA-PACIFIC
7. COMPETITIVE
LANDSCAPE
7.1. GOOGLE
LLC
7.2. IBM
7.3. MICROSOFT
CORPORATION
7.4. ADOBE
SYSTEMS INC
7.5. NUANCE
COMMUNICATIONS INC
7.6. ABBYY
7.7. ANYLINE
GMBH
7.8. CAPTRICITY
INC (ACQUIRED BY SS&C)
7.9. CREACEED
7.10. FOXIT
SOFTWARE INC
7.11. EXPERVISION
INC
7.12. INTSIG
INFORMATION CO LTD
7.13. IRIS
GROUP SA
7.14. LEAD
TECHNOLOGIES
8. RESEARCH
METHODOLOGY & SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE 1: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
TABLE 2: VENDOR
SCORECARD
TABLE 3: LIST OF
MERGERS
TABLE 4: LIST OF
PRODUCT LAUNCHES
TABLE 5: LIST OF
PARTNERSHIPS
TABLE 6: LIST OF
BUSINESS EXPANSIONS
TABLE 7: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY PRODUCT, 2022-2028 (IN $ MILLION)
TABLE 8: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY OPERATION, 2022-2028 (IN $ MILLION)
TABLE 9: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY VERTICAL, 2022-2028 (IN $ MILLION)
TABLE 10: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
FIGURE 1: MARKET
ATTRACTIVENESS INDEX
FIGURE 2: INDUSTRY
COMPONENTS
FIGURE 3: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, PRODUCT OUTLOOK, 2021 & 2028 (IN %)
FIGURE 4: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY SOFTWARE, 2022-2028 (IN $ MILLION)
FIGURE 5: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY SERVICE, 2022-2028 (IN $ MILLION)
FIGURE 6: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, OPERATION OUTLOOK, 2021 & 2028 (IN %)
FIGURE 7: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY B2B, 2022-2028 (IN $ MILLION)
FIGURE 8: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY B2C, 2022-2028 (IN $ MILLION)
FIGURE 9: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, VERTICAL OUTLOOK, 2021 & 2028 (IN %)
FIGURE 10: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY BFSI, 2022-2028 (IN $ MILLION)
FIGURE 11: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY TRANSPORT & LOGISTICS, 2022-2028
(IN $ MILLION)
FIGURE 12: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY HEALTHCARE, 2022-2028 (IN $ MILLION)
FIGURE 13: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY GOVERNMENT, 2022-2028 (IN $ MILLION)
FIGURE 14: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY EDUCATION, 2022-2028 (IN $ MILLION)
FIGURE 15: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY IT & TELECOM, 2022-2028 (IN $
MILLION)
FIGURE 16: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY MANUFACTURING, 2022-2028 (IN $
MILLION)
FIGURE 17: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY RETAIL, 2022-2028 (IN $ MILLION)
FIGURE 18: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, BY OTHERS, 2022-2028 (IN $ MILLION)
FIGURE 19: ASIA-PACIFIC
OPTICAL CHARACTER RECOGNITION MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)
FIGURE 20: CHINA OPTICAL
CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)
FIGURE 21: JAPAN OPTICAL
CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)
FIGURE 22: INDIA OPTICAL
CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)
FIGURE 23: AUSTRALIA
OPTICAL CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)
FIGURE 24: SOUTH KOREA
OPTICAL CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)
FIGURE 25: ASEAN
COUNTRIES OPTICAL CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)
FIGURE 26: REST OF
ASIA-PACIFIC OPTICAL CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)