From GlobeNewswire: 2025-05-22 11:00:00

The Optical Character Recognition (OCR) market is booming, with a value of $11.84 billion in 2023 and projected to reach $43.26 billion by 2032. Major players include ABBYY, Adobe, and Google, with a focus on automation and digitization driving growth. The U.S. market alone is expected to reach $12.14 billion by 2032, fueled by digital transformation and AI innovations. The software segment currently dominates, but services are expected to grow rapidly at a CAGR of 17.87%. The BFSI sector leads in OCR adoption, while transport and logistics are set for rapid growth. The B2B segment in brand protection tools holds a 74% revenue share and is expected to grow at a CAGR of 16.23%. North America leads the market, with Asia Pacific poised for the fastest growth.

The Asia Pacific region leads in OCR adoption due to strong tech infrastructure, digital transformation investments, and high automation demand. The market is set to grow at a CAGR of 17.66% from 2024 to 2032, driven by investments in automation and digitalization in countries like China and India, particularly in e-commerce, healthcare, and logistics sectors.

SNS Insider offers a detailed report on the Optical Character Recognition market, covering key points like market dynamics, segmentation by type and end-use, regional analysis, and company profiles. The report aims to provide clients with accurate market data and insights to make informed decisions in a rapidly changing business environment.

Related reports from SNS Insider cover the U.S. Image Recognition Market, North America’s Biometric Payment Market, and the Automatic Identification and Data Capture Market. These reports highlight the growth and trends in advanced technology adoption, innovation, and security demands in various industries, projecting significant market growth and opportunities for businesses.



Read more at GlobeNewswire: Optical Character Recognition Market to Reach USD 43.26