Market by Product, Operation, Vertical, and Country Outlook | Forecast 2022-2028
As per Triton’s report, the optical character recognition market in the Middle East and Africa is likely to expand with a CAGR of 16.11% during the forecast period 2022-2028.
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The
countries considered in this region include:
• The
United Arab Emirates
• Saudi
Arabia
• Turkey
• South
Africa
• Rest
of Middle East & Africa
The United Arab Emirates captures a significant
share in the optical character recognition market. The growing business sector in the
region supports the adoption of OCR solutions. In the oil sector, receipt
making, currency exchange, and other applications increase the demand for OCR
systems to a large extent compared to other industries. Besides this, in the
education sector, several countries are implementing OCR tools to recognize
age-old scripts to disseminate information accurately, retaining the art &
culture.
Furthermore,
overseeing trade, international communications, ID verification, and others have
also highlighted the need for OCR systems. In the UAE, several startups are
working on developing OCR software solutions for the public and private sectors.
For instance, DocumentERA is an accurate OCR software plugin in Dubai. This
software can be plugged into a user’s existing application easily, processing
specific types of documents. In this regard, users can even set additional new
document types and layouts. Therefore, such developments are augmenting the
optical character recognition market’s progression.
Saudi
Arabia has witnessed the implementation of OCR in a unique manner. Here,
developers have created and modified OCR software to identify car number plates,
making automatic license plate recognition a significant tool in smart cities.
Thus, the expansion of smart cities creates new opportunities for the optical
character recognition market.
Since
OCR relies on content clarity in paper documents, occasional errors are
unavoidable in case of distorted texts. In this regard, OCR clean-up services
ensure correcting or replacing misread characters by comparing actual text with
existing data in the system. The market
is segmented into product, operation, and vertical. The product section is
bifurcated into service and software.
The leading companies in the market are Abbyy,
Captricity Inc (Acquired by SS&C), Creaceed, Foxit Software Inc,
Expervision Inc, Anyline GmbH, and Microsoft Corporation.
Expervision Inc offers
optical character recognition services and software. The company provides
enterprise-level optical character recognition software, including optical
character recognition for document imaging, form processing, enterprise content
management, and data capture. Its business segments include OCR software, OCR
SDK, and OCE services. Additionally, it provides machine-learned fragment
analysts that offer accurate OCR technology.
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
Middle East and Africa 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 Middle East and Africa optical character recognition
market’s growth during the upcoming years
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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. MIDDLE
EAST AND AFRICA 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 SOLUTION 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. MIDDLE
EAST AND AFRICA OPTICAL CHARACTER RECOGNITION MARKET OUTLOOK - BY PRODUCT
3.1. SOFTWARE
3.2. SERVICE
4. MIDDLE
EAST AND AFRICA OPTICAL CHARACTER RECOGNITION MARKET OUTLOOK - BY OPERATION
4.1. B2B
4.2. B2C
5. MIDDLE
EAST AND AFRICA 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. MIDDLE
EAST AND AFRICA OPTICAL CHARACTER RECOGNITION MARKET – COUNTRY OUTLOOK
6.1. UNITED
ARAB EMIRATES
6.2. SAUDI
ARABIA
6.3. TURKEY
6.4. SOUTH
AFRICA
6.5. REST
OF MIDDLE EAST & AFRICA
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: MIDDLE EAST AND
AFRICA 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: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY PRODUCT, 2022-2028 (IN $
MILLION)
TABLE 8: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY OPERATION, 2022-2028 (IN $
MILLION)
TABLE 9: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY VERTICAL, 2022-2028 (IN $
MILLION)
TABLE 10: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY COUNTRY, 2022-2028 (IN $
MILLION)
FIGURE 1: MARKET
ATTRACTIVENESS INDEX
FIGURE 2: INDUSTRY
COMPONENTS
FIGURE 3: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, PRODUCT OUTLOOK, 2021 & 2028
(IN %)
FIGURE 4: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY SOFTWARE, 2022-2028 (IN $
MILLION)
FIGURE 5: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY SERVICE, 2022-2028 (IN $
MILLION)
FIGURE 6: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, OPERATION OUTLOOK, 2021 & 2028
(IN %)
FIGURE 7: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY B2B, 2022-2028 (IN $ MILLION)
FIGURE 8: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY B2C, 2022-2028 (IN $ MILLION)
FIGURE 9: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, VERTICAL OUTLOOK, 2021 & 2028
(IN %)
FIGURE 10: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY BFSI, 2022-2028 (IN $ MILLION)
FIGURE 11: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY TRANSPORT & LOGISTICS,
2022-2028 (IN $ MILLION)
FIGURE 12: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY HEALTHCARE, 2022-2028 (IN $
MILLION)
FIGURE 13: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY GOVERNMENT, 2022-2028 (IN $
MILLION)
FIGURE 14: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY EDUCATION, 2022-2028 (IN $
MILLION)
FIGURE 15: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY IT & TELECOM, 2022-2028 (IN
$ MILLION)
FIGURE 16: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY MANUFACTURING, 2022-2028 (IN $
MILLION)
FIGURE 17: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY RETAIL, 2022-2028 (IN $
MILLION)
FIGURE 18: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, BY OTHERS, 2022-2028 (IN $
MILLION)
FIGURE 19: MIDDLE EAST AND
AFRICA OPTICAL CHARACTER RECOGNITION MARKET, COUNTRY OUTLOOK, 2021 & 2028
(IN %)
FIGURE 20: UNITED ARAB
EMIRATES OPTICAL CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)
FIGURE 21: SAUDI ARABIA
OPTICAL CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)
FIGURE 22: TURKEY OPTICAL
CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)
FIGURE 23: SOUTH AFRICA
OPTICAL CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)
FIGURE 24: REST OF
MIDDLE EAST & AFRICA OPTICAL CHARACTER RECOGNITION MARKET 2022-2028 (IN $
MILLION)