Asia-pacific Optical Character Recognition Market Forecast 2022-2030

Asia-pacific Optical Character Recognition Market Forecast 2022-2030

KEY FINDINGS

The Asia-Pacific optical character recognition market is anticipated to rise with a CAGR of 17.08% during the forecasted period of 2022 to 2030. The surging investments in AI and associated technologies, the increasing focus on self-driving cars as well as smart cities, and the rise in the number of start-ups are mainly ascribed to the region’s market growth.

MARKET INSIGHTS

The Asia-Pacific optical character recognition market growth analysis encompasses the study of Indonesia, South Korea, Japan, Australia, India, China, Thailand, and Rest of Asia-Pacific. Several OCRs are functional in India, including Tesseract, an open-source optical character recognition tool. It works with languages such as Marathi, Nepali, Tamil, Telugu, Bengali, Sanskrit, Hindi, and Urdu. Likewise, OCRConverter provides a Hindi (Devanagari script) online option that is convenient, free, and easy to use. However, it lacks the core component of automation, requiring significant manual efforts to integrate it into the user’s document flow.

Conversely, despite the fact that Korean character OCR programs are utilized in a variety of goods, the majority of optical character recognition systems are proprietary in South Korea. Besides, their performance is mediocre, and the tools are highly expensive. However, in contrast to English as well as Chinese generating issues, users also find it challenging to locate appropriate open-source Korean text OCR applications. Hence, these factors are set to influence the Asia-Pacific optical character recognition market growth over the forecast period.

COMPETITIVE INSIGHTS

Leading firms operating in the market include Adobe Systems Inc, Microsoft Corporation, IBM, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments