by Debra Garls
According to a new report by Grand View Research, the OCR (or optical character recognition) market size is expected to reach 13.38 billion dollars by 2025. It is also anticipated to expand at a CAGR of 13.7% from 2019 to 2025.
Optical character recognition (OCR) is a software technology that enables the conversion of scanned documents into machine-encoded text. The technology makes it possible to convert different types of documents, such as scanned paper documents, PDF files, or images captured by a digital camera into editable and searchable data.
For example, say you would like to share a paper document such as a magazine, brochure, article, or PDF to a colleague via email. One option is that you could use a scanner to share this information. However, a scanner can only create an image of the document. Therefore, if your colleague would like to make edits to the information you sent them – he/she would not be able to with a scanned document. Another option is that you can convert the information from the scanned document into a digital format using a scanner/digital camera and OCR software. With OCR, the text becomes searchable, and edits can be made to change, copy, or anything else that you can regularly do with text.
OCR has two methods: matrix matching and feature extraction.
Matrix Matching compares what the OCR software has identified as a character using a library of character templates. When a match is found, the software pairs that image with its corresponding character.
Feature Extraction utilizes computer intelligence to look for general features such as closed shapes, open areas, diagonal lines, line intersections, etc. It provides a more versatile solution, but more requirements are needed for the outcome to be successful (e.g., minimum 300-dpi, straight image).
With OCR software, searches are faster, editing is easier, and both digital and physical storage space is minimized. The software provides many benefits by turning document images into searchable, editable text – especially because data is a critical element for an organization. Also, with the digitization of work processes and increasing productivity, OCR can transform how a company operates. Read our factsheet to learn more about how OCR technology can benefit your company.
The OCR process from SEAL Systems can bring you benefits, including:
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Debra Garls
As a SAP Business Development Manager, Debra Garls, seeks to help companies automate, secure and streamline the process of distributing valuable documents throughout the enterprise. Ensuring the right documents get to the right place, in the right format, at the right time. info@sealsystems.com
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