Transparency Market Research

Optical Character Recognition Market: Technological Advancements, Evolving Industry Trends and Insights

Optical Character Recognition Market Analysis, Size, Share, Growth, Trends, Forecast 2025


Albany, NY -- (SBWIRE) -- 12/27/2017 -- Machine replication of human functions, like reading, is an ancient dream. However, over the last five decades, machine reading has grown from a dream to reality. Optical character recognition has become one of the most successful applications of technology in the field of pattern recognition and artificial intelligence. Optical Character Recognition deals with the problem of recognizing optically processed characters. From last few years have seen a widespread appearance of commercial optical character recognition products meeting the requirements of different users for text entry, Data entry, Process automation, Aid for blind, Automatic number-plate readers, Automatic cartography, Form readers, Signature verification and identification.

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The accuracy of OCR systems is, in practice, directly dependent upon the quality of the input documents. The main difficulties encountered in different documents may be follows: Variations in shape, due to serifs and style variations, Deformations, caused by broken characters, smudged characters and speckle, Variations in spacing, due to subscripts, superscripts, skew and variable spacing, Mixture of text and graphics.

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The rise of the digital world could provide a good momentum to the international OCR industry and also limit its growth in the coming years because of the elimination of paperwork encouraged in digitally revolutionized organizations. Moreover, lack of knowledge to operate OCR technologies could create a slack in demand. However, players have been envisaged to find favorable prospects birthing on the back of domain-specific OCR system applications such as invoice, receipt, and check OCRs. These could be engaged for assisting blind and visually-impaired users, extracting critical information, the data entry of business documents, and automatic number plate recognition.