Middle East & Africa Optical Character Recognition Market Size & Outlook
Middle East & Africa optical character recognition market, 2018-2030 (US$M)
Related Markets
MEA optical character recognition market highlights
- The MEA optical character recognition market generated a revenue of USD 454.6 million in 2023.
- The market is expected to grow at a CAGR of 14.6% from 2024 to 2030.
- In terms of segment, software was the largest revenue generating type in 2023.
- Services is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, UAE is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 454.6 million |
| Market revenue in 2030 | USD 1,177.8 million |
| Growth rate | 14.6% (CAGR from 2023 to 2030) |
| Largest segment | Software |
| Fastest growing segment | Services |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Software, Services |
| Key market players worldwide | Abby Inc, Adobe Inc, Biotricity Inc, Alphabet Inc Class A, International Business Machines Corp, Microsoft Corp, NAVER Corp, Open Text Corp |
Other key industry trends
- In terms of revenue, MEA region accounted for 3.6% of the global optical character recognition market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 8,935.6 million by 2030.
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Optical Character Recognition Market Scope
Optical Character Recognition Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa optical character recognition market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to optical character recognition market will help companies and investors design strategic landscapes.
Software was the largest segment with a revenue share of 84.65% in 2023. Horizon Databook has segmented the Middle East & Africa optical character recognition market based on software, services covering the revenue growth of each sub-segment from 2018 to 2030.
- Middle East & Africa Optical Character Recognition Type Outlook (Revenue, USD Million, 2018-2030)
- Software
- Desktop-based OCR
- Mobile-based OCR
- Cloud-Based OCR
- Private
- Public
- Others
- Services
- Consulting
- Outsourcing
- Implementation & Integration
- Software
- Middle East & Africa Optical Character Recognition Vertical Outlook (Revenue, USD Million, 2018-2030)
- Retail
- BFSI
- Government
- Education
- Transport and Logistics
- Healthcare
- IT & Telecom
- Manufacturing
- Others (Media & Entertainment)
- Middle East & Africa Optical Character Recognition End-Use Outlook (Revenue, USD Million, 2018-2030)
- B2B
- B2C
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Target buyers of Middle East & Africa optical character recognition market databook
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Our clientele includes a mix of optical character recognition market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa optical character recognition market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa optical character recognition market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
MEA optical character recognition market size, by country, 2018-2030 (US$M)
Middle East & Africa Optical Character Recognition Market Outlook Share, 2023 & 2030 (US$M)
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