Market by Product, Operation, Vertical, and Country Outlook | Forecast 2022-2028
As per Triton’s report, the optical character recognition market in North America is likely to advance with a CAGR of 15.47% over the forecast period from 2022 to 2028.
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The
countries explored in the region consist of:
•
The United States
•
Canada
The US leads in the optical
recognition market within the region. The region’s technology sector has
evolved significantly over the years. The market’s growth is mainly supported
by AI implementation to power OCR applications. Technology advancements have
increased OCR demand across various sectors, including education, government,
and others. This technology is widely implemented for judicial hearings and
bill generation to reduce paperwork. Besides, the majority of import-export
trade between Canada and the US has been digitalized. Therefore, all these
factors support the optical character recognition market’s growth.
In
the US, judicial systems have implemented various digital solutions, including
OCR. Earlier, officers required to retype the text that was time-consuming and
prone to errors. In this regard, scanning documents through OCR processing has
made it easy to edit, search, and store high volumes of data in Microsoft Word
and Google Docs. Such benefits have increased optical character recognition
systems’ demand in legal proceedings.
Furthermore,
there are various applications of OCR for physically disabled people. For
instance, the American Foundation for the Blind offers various assistive technology
products, including OCR systems, to visually impaired people. Therefore, the
rising applications of OCR systems accelerate the growth of the optical
character recognition market.
OCR
technology in healthcare is widely used to electronically scan documents and
produce a digital copy. It helps achieve higher accuracy in sorting a high
volume of medical records, simplifying the data retrieval and management
process. Optical character recognition technology is ideal for storing,
copying, and sharing data efficiently across the healthcare system. The market’s segments include vertical,
product, and operation. The vertical segment is divided into healthcare,
government, education, IT & telecom, BFSI, manufacturing, transport &
logistics, retail, and others.
Google LLC, Microsoft Corporation,
Anyline GmbH, Adobe Systems Inc, and IBM are some of the major companies listed
in the market report.
IBM
is a technology company operating through various business segments, including
cloud & cognitive software, technology services, systems and global
financing. The cloud & cognitive software solutions offer data, AI, and
other solutions. The company’s systems segment offers infrastructure platforms
to help meet the needs of multi-cloud and enterprise AI workloads. The company
operates across various countries, with headquarters in New York, the United
States.
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 North
America 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 North America 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. NORTH
AMERICA 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. NORTH
AMERICA OPTICAL CHARACTER RECOGNITION MARKET OUTLOOK - BY PRODUCT
3.1. SOFTWARE
3.2. SERVICE
4. NORTH
AMERICA OPTICAL CHARACTER RECOGNITION MARKET OUTLOOK - BY OPERATION
4.1. B2B
4.2. B2C
5. NORTH
AMERICA 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. NORTH
AMERICA OPTICAL CHARACTER RECOGNITION MARKET – COUNTRY OUTLOOK
6.1. UNITED
STATES
6.2. CANADA
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: NORTH AMERICA
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: NORTH AMERICA
OPTICAL CHARACTER RECOGNITION MARKET, BY PRODUCT, 2022-2028 (IN $ MILLION)
TABLE 8: NORTH AMERICA
OPTICAL CHARACTER RECOGNITION MARKET, BY OPERATION, 2022-2028 (IN $ MILLION)
TABLE 9: NORTH AMERICA
OPTICAL CHARACTER RECOGNITION MARKET, BY VERTICAL, 2022-2028 (IN $ MILLION)
TABLE 10: NORTH AMERICA
OPTICAL CHARACTER RECOGNITION MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
FIGURE 1: MARKET
ATTRACTIVENESS INDEX
FIGURE 2: INDUSTRY
COMPONENTS
FIGURE 3: NORTH AMERICA
OPTICAL CHARACTER RECOGNITION MARKET, PRODUCT OUTLOOK, 2021 & 2028 (IN %)
FIGURE 4: NORTH AMERICA
OPTICAL CHARACTER RECOGNITION MARKET, BY SOFTWARE, 2022-2028 (IN $ MILLION)
FIGURE 5: NORTH AMERICA
OPTICAL CHARACTER RECOGNITION MARKET, BY SERVICE, 2022-2028 (IN $ MILLION)
FIGURE 6: NORTH AMERICA
OPTICAL CHARACTER RECOGNITION MARKET, OPERATION OUTLOOK, 2021 & 2028 (IN %)
FIGURE 7: NORTH AMERICA
OPTICAL CHARACTER RECOGNITION MARKET, BY B2B, 2022-2028 (IN $ MILLION)
FIGURE 8: NORTH AMERICA
OPTICAL CHARACTER RECOGNITION MARKET, BY B2C, 2022-2028 (IN $ MILLION)
FIGURE 9: NORTH AMERICA
OPTICAL CHARACTER RECOGNITION MARKET, VERTICAL OUTLOOK, 2021 & 2028 (IN %)
FIGURE 10: NORTH
AMERICA OPTICAL CHARACTER RECOGNITION MARKET, BY BFSI, 2022-2028 (IN $ MILLION)
FIGURE 11: NORTH
AMERICA OPTICAL CHARACTER RECOGNITION MARKET, BY TRANSPORT & LOGISTICS,
2022-2028 (IN $ MILLION)
FIGURE 12: NORTH
AMERICA OPTICAL CHARACTER RECOGNITION MARKET, BY HEALTHCARE, 2022-2028 (IN $
MILLION)
FIGURE 13: NORTH
AMERICA OPTICAL CHARACTER RECOGNITION MARKET, BY GOVERNMENT, 2022-2028 (IN $
MILLION)
FIGURE 14: NORTH AMERICA
OPTICAL CHARACTER RECOGNITION MARKET, BY EDUCATION, 2022-2028 (IN $ MILLION)
FIGURE 15: NORTH
AMERICA OPTICAL CHARACTER RECOGNITION MARKET, BY IT & TELECOM, 2022-2028
(IN $ MILLION)
FIGURE 16: NORTH
AMERICA OPTICAL CHARACTER RECOGNITION MARKET, BY MANUFACTURING, 2022-2028 (IN $
MILLION)
FIGURE 17: NORTH
AMERICA OPTICAL CHARACTER RECOGNITION MARKET, BY RETAIL, 2022-2028 (IN $
MILLION)
FIGURE 18: NORTH
AMERICA OPTICAL CHARACTER RECOGNITION MARKET, BY OTHERS, 2022-2028 (IN $
MILLION)
FIGURE 19: NORTH
AMERICA OPTICAL CHARACTER RECOGNITION MARKET, COUNTRY OUTLOOK, 2021 & 2028
(IN %)
FIGURE 20: UNITED
STATES OPTICAL CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)
FIGURE 21: CANADA OPTICAL
CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)