Optical Character Recognition Market Size, Scope, Application and Type
Optical character recognition is an electronic translation of computer-typed, handwritten images into machine-encoded text, whether from scanned paper, a paper picture, a scene picture. It uses several techniques to convert texts and images handwritten into pdf, text, or other editable formats. Various advantages of optical character recognition technology have helped businesses save time by manually inserting data into a device, improving job management, reducing the cost of translating documents into digital form, and, among others, minimizing manual errors. In addition, it offers other benefits such as improved customer support and increased document protection, significantly boosting demand across industries like BFSI and retail. Global Optical Character Recognition (OCR) market is anticipated to cross USD 14,457.23 million by 2026, growing at a CAGR of 16.45% from 2021 to 2026. The global optical character recognition (OCR) systems market is segmented on the basi...