EUROPE OPTICAL CHARACTER RECOGNITION MARKET 2022-2028

ICT | Media Software & Services

EUROPE OPTICAL CHARACTER RECOGNITION MARKET 2022-2028

Market by Product, Operation, Vertical, and Country Outlook | Forecast 2022-2028

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According to Triton Market Research’s report, the optical character recognition market in Europe is deemed to progress at a CAGR of 15.22% during the forecast period from 2022-2028.


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The countries analyzed in the region comprise:

•         The United Kingdom

•         Germany

•         France

•         Spain

•         Italy

•        Poland

•         Rest of Europe

In Europe, Germany holds the majority of the shares in the optical character recognition market. The sustainable development trend has majorly driven the market’s growth in the region. In this regard, the rising trend of paperless transactions, digitalization, online identification, etc., has soared the adoption of OCR solutions. Furthermore, the developing education sector has increased the demand for OCR solutions to support online education. Hence, the rising demand for paperless documentation fuels the expansion of the optical character recognition market.

The optical character recognition systems for the German language occupy a significant space in pattern recognition. These systems have been widely used in various commercial applications. The pre-processing activities like text region extraction, correction, and other features are performed on the datasets. Moreover, feature-based classification is performed through soft computing techniques. In this regard, the superiority of soft computing is validated via OCR computing. Thus, these factors widen the scope of the OCR market.

In the UK, the deployment of the 5G network has enabled users to gain benefits from advanced technologies, including OCR for document verification and other applications. Moreover, AI and IoT advancements have opened new avenues for the optical character recognition market across the country.

Business-to-business applications are primarily developed to streamline operations, simplify complex concepts, or fulfill specific industry demands. Here, B2B applications are used by companies to connect with other organizations, clients, employees, and stakeholders. The market’s growth is evaluated based on operation, product, and vertical. The operation segment is divided into B2B and B2C.

The prominent companies in the market include Microsoft Corporation, Adobe Systems Inc, Anyline GmbH, Captricity Inc (Acquired by SS&C), and Nuance Communications Inc.

Anyline GmbH is a Vienna-based company that develops optical character recognition technology. The software is used to scan and recognize written text using AI for various applications. Its product line includes document scanning, ID scanning, license plate scanning, meter reading, and serial number scanning. The company serves various industries, including government, transportation, automotive, and others.

 

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 Europe 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 Europe 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

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Table of Content

1. EUROPE 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. EUROPE OPTICAL CHARACTER RECOGNITION MARKET OUTLOOK - BY PRODUCT

3.1. SOFTWARE

3.2. SERVICE

4. EUROPE OPTICAL CHARACTER RECOGNITION MARKET OUTLOOK - BY OPERATION

4.1. B2B

4.2. B2C

5. EUROPE 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. EUROPE OPTICAL CHARACTER RECOGNITION MARKET – COUNTRY OUTLOOK

6.1. UNITED KINGDOM

6.2. GERMANY

6.3. FRANCE

6.4. SPAIN

6.5. ITALY

6.6. POLAND

6.7. REST OF EUROPE

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

List of Tables

TABLE 1: EUROPE 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: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY PRODUCT, 2022-2028 (IN $ MILLION)

TABLE 8: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY OPERATION, 2022-2028 (IN $ MILLION)

TABLE 9: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY VERTICAL, 2022-2028 (IN $ MILLION)

TABLE 10: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)

List of Figures

FIGURE 1: MARKET ATTRACTIVENESS INDEX

FIGURE 2: INDUSTRY COMPONENTS

FIGURE 3: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, PRODUCT OUTLOOK, 2021 & 2028 (IN %)

FIGURE 4: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY SOFTWARE, 2022-2028 (IN $ MILLION)

FIGURE 5: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY SERVICE, 2022-2028 (IN $ MILLION)

FIGURE 6: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, OPERATION OUTLOOK, 2021 & 2028 (IN %)

FIGURE 7: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY B2B, 2022-2028 (IN $ MILLION)

FIGURE 8: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY B2C, 2022-2028 (IN $ MILLION)

FIGURE 9: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, VERTICAL OUTLOOK, 2021 & 2028 (IN %)

FIGURE 10: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY BFSI, 2022-2028 (IN $ MILLION)

FIGURE 11: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY TRANSPORT & LOGISTICS, 2022-2028 (IN $ MILLION)

FIGURE 12: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY HEALTHCARE, 2022-2028 (IN $ MILLION)

FIGURE 13: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY GOVERNMENT, 2022-2028 (IN $ MILLION)

FIGURE 14: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY EDUCATION, 2022-2028 (IN $ MILLION)

FIGURE 15: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY IT & TELECOM, 2022-2028 (IN $ MILLION)

FIGURE 16: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY MANUFACTURING, 2022-2028 (IN $ MILLION)

FIGURE 17: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY RETAIL, 2022-2028 (IN $ MILLION)

FIGURE 18: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, BY OTHERS, 2022-2028 (IN $ MILLION)

FIGURE 19: EUROPE OPTICAL CHARACTER RECOGNITION MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)

FIGURE 20: UNITED KINGDOM OPTICAL CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)

FIGURE 21: GERMANY OPTICAL CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)

FIGURE 22: FRANCE OPTICAL CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)

FIGURE 23: SPAIN OPTICAL CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)

FIGURE 24: ITALY OPTICAL CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)

FIGURE 25: POLAND OPTICAL CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)

FIGURE 26: REST OF EUROPE OPTICAL CHARACTER RECOGNITION MARKET 2022-2028 (IN $ MILLION)

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