Europe Optical Character Recognition Market By Component (Software and Services), By End User (BFSI, Healthcare & Life Sciences, Energy & Utilities, Education & Legal, Telecom & IT, Government & Public Sector and Others)

Analysis of Market Size & Trends

The Europe Optical Character Recognition Market would witness market growth of 12.5% CAGR during the forecast period (2019-2025).

Optical character recognition (OCR) is a technology that transforms different types of papers into editable and searchable information, such as scanned paper documents, PDF files or digital camera pictures. Due to the speed and precision they provide, the overall document management process has been revolutionized with distinct sectors lapping the technology in their business processes. Moving OCR from a special purpose reader to an interactive multi-purpose scheme has reduced information capture costs and paved the way for a more secure OCR system to be developed.

OCR is expected to continue to find applications in different sectors in the near future. For example, in the transportation and logistics sector, OCR can assist scan parcel tracking numbers and delivery location postal codes rather than requiring them to be physically written down, thereby speeding up the overall processing, monitoring, and shipping of packages, and then decreasing expenses.

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Based on Component, the market is segmented into Software and Services. Software segment is further segmented into Desktop Based, Mobile Based, Cloud Based and Others. Services segment is further bifurcated into Integration & Deployment, Advisory & Consulting and Support & Maintenance. Based on End User, the market is segmented into BFSI, Healthcare & Life Sciences, Energy & Utilities, Education & Legal, Telecom & IT, Government & Public Sector and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Google, Inc., Nuance Communications, Inc., Adobe, Inc., Accusoft Corporation, Ricoh Company Limited, Anyline GmbH, NTT Data Corporation and LEAD Technologies, Inc.

Scope of the Optical Character Recognition Market Analysis

Market Segmentation:

By Component

• Software
  • Desktop Based
  • Mobile Based
  • Cloud Based
  • Others
• Services Type
  • Integration and Deployment
  • Advisory and Consulting
  • Support and Maintenance

By End User

• BFSI
• Healthcare and Life Sciences
• Energy and Utilities
• Education and Legal
• Telecom and IT
• Government and Public Sector
• Others

By Country

• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe

Companies Profiled

• IBM Corporation
• Microsoft Corporation
• Google, Inc.
• Nuance Communications, Inc.
• Adobe, Inc.
• Accusoft Corporation
• Ricoh Company Limited
• Anyline GmbH
• NTT Data Corporation
• LEAD Technologies, Inc.