Handwriting Recognition (HWR) Market

Handwriting Recognition (HWR) Market Analysis

Handwriting Recognition (HWR) is becoming increasingly important to identify and interpret input offered from various sources to the computer. The image of scanned documents is considered offline, while movements of pen tip written are viewed online. Handwriting Recognition (HWR) is critical in adequately segmenting characters, handling formatting, and identifying the most challenging word. The global Handwriting Recognition (HWR) market was valued at over 1,340.37 million in 2020 and is expected to generate a cumulative growth opportunity valued at over USD 4,291.27 million during the forecast period. The global Handwriting Recognition (HWR) industry is expected to post a lucrative CAGR of over 16.97%.

Interesting Facts of Handwriting Recognition (HWR)

• Demand for Handwriting Recognition (HWR) is highest in North America among all regions, with over 35% share in 2020
• Legal documents and cultural heritage are the most critical applications for the Handwriting Recognition (HWR) tool
• The offline segment held over 65% share in 2020
• Registry forms generated revenue of over USD 250 million in 2020

Increasing demand in the legal and cultural sector

Handwriting recognition is an essential aspect of various legal and financial registry forms. Moreover, it is beneficial for the researchers of cultural heritage. Handwriting varies drastically from person to person. Therefore, it becomes critical to understand handwriting in the aforementioned cases correctly. Handwriting recognition is essential for correctly understanding handwriting in registry forms and cultural heritage documents.

Rapid Pace Digitalization

The handwriting recognition tool facilitates the user to identify, interpret and read the most difficult words. With the growing pace of digitalizing documents in every sector, i.e., finance, legal, government, education, etc., there is an increasing need for the Handwriting Recognition (HWR) tool across these sectors. Digitalization offers many benefits for handling documents, such as it requires less storage space, it can be accessed quickly and anytime, handling can be smooth, etc. Handwriting Recognition (HWR) translates all electronic words into a text document format, making it easier for prospective readers to interpret them. Secondly, their huge handwritten historical content is available worldwide, which carries significant cultural value in the region. To preserve such literature, it is essential to convert them into digital format. This, in turn, drives the growth of the handwriting recognition industry.

Handwriting Recognition (HWR) will be Reigned by North America.

The strong demand from North America drives global Handwriting Recognition (HWR) market growth. North America held over 35% share of total revenue garnered by the global Handwriting Recognition (HWR) industry in 2020. The strong demand for Handwriting Recognition (HWR) in the region can be attributed to the deep penetration of digitalization of the economy and documentation in every aspect of daily life. In addition, large legal firms, financial institutes, a comprehensive network of digitalized educational institutes, and widespread adoption of advanced technology in the region have remained a significant growth driving force for the global Handwriting Recognition (HWR) market.

Innovative Product Offering is Major Growth Strategy Adopted by the Key Players

MyScript, Nuance Communications, Inc., SELVAS AI, Inc., Hanwang Technology Co., Ltd., Paragon Software Group, PhatWare Corporation, SinoVoice (Beijing Jietong Huasheng Technology Co. Ltd.), and Sciometrics, LLC are significant players operating in the global Handwriting Recognition (HWR) market. Amid growing competition, key players have focused on winning the market by bringing innovative new products into the market. As a result, a new product launch has been perused as the most popular market growth strategy by prominent companies operating in the global Handwriting Recognition (HWR) market.

1.Preface

1.1.Report Description
1.1.1.Purpose of the Report
1.1.2.Target Audience
1.1.3.USP and Key Offerings
1.2.Research Scope
1.3.Research Methodology
1.3.1.Phase I – Secondary Research
1.3.2.Phase II – Primary Research
1.3.3.Phase III – Expert Panel Review
1.3.4.Approach Adopted
1.3.4.1.Top-Down Approach
1.3.4.2.Bottom-Up Approach
1.3.5.Assumptions
1.4.Market Segmentation

2.Executive Summary

2.1.Market Snapshot: Global Handwriting Recognition (HWR) Market

3.Market Dynamics & Factors Analysis

3.1.Introduction
3.1.1. Global Handwriting Recognition (HWR) Market Value, 2015-2027, (USD Million)
3.2.Market Dynamics
3.2.1.Key Growth Trends
3.2.2.Major Industry Challenges
3.2.3.Key Growth Pockets
3.3.Attractive Investment Proposition,2020
3.3.1.Type
3.3.2.End-user
3.3.3.Geography
3.4.Porter’s Five Forces Analysis
3.4.1.Threat of New Entrants
3.4.2.Bargaining Power of Buyers/Consumers
3.4.3.Bargaining Power of Suppliers
3.4.4.Threat of Substitute Types
3.4.5.Intensity of Competitive Rivalry
3.5.Value Chain Analysis

4.Market Positioning of Key Players, 2020

4.1.Company market share of key players, 2020
4.2.Top 6 Players
4.3.Top 3 Players
4.4.Major Strategies Adopted by Key Players

5.COVID 19 Impact Analysis

5.1.Global Handwriting Recognition (HWR) Market Pre Vs Post COVID 19, 2019 – 2027
5.2.Impact on Import & Export
5.3.Impact on Demand & Supply

6.North America

6.1.North America Handwriting Recognition (HWR) Market, by Country, 2015-2027(USD Million)
6.1.1.U.S.
6.1.2.Canada
6.1.3.Mexico
6.2.North America Handwriting Recognition (HWR) Market, by Type, 2015-2027(USD Million)
6.2.1.Overview
6.2.2.Online
6.2.3.Offline
6.3.North America Handwriting Recognition (HWR) Market, by End-user, 2015-2027(USD Million)
6.3.1.Overview
6.3.2.Registry Forms
6.3.3.Automotive
6.3.4.Education, Literature and Cultural Heritage
6.3.5.Enterprise and Field Services
6.3.6.Healthcare and Others

7.Europe

7.1.Europe Handwriting Recognition (HWR) Market, by Country, 2015-2027(USD Million)
7.1.1.UK
7.1.2.France
7.1.3.Germany
7.1.4.Italy
7.1.5.Russia
7.1.6.Spain
7.1.7.Belgium
7.1.8.Netherland
7.1.9.Austria
7.1.10.Sweden
7.1.11.Poland
7.1.12.Denmark
7.1.13.Switzerland
7.1.14.Rest of Europe
7.2.Europe Handwriting Recognition (HWR) Market, by Type, 2015-2027(USD Million)
7.2.1.Overview
7.2.2.Online
7.2.3.Offline
7.3.Europe Handwriting Recognition (HWR) Market, by End-user, 2015-2027(USD Million)
7.3.1.Overview
7.3.2.Registry Forms
7.3.3.Automotive
7.3.4.Education, Literature and Cultural Heritage
7.3.5.Enterprise and Field Services
7.3.6.Healthcare and Others

8.Asia Pacific

8.1.Asia Pacific Handwriting Recognition (HWR) Market, by Country, 2015-2027(USD Million)
8.1.1.China
8.1.2.Japan
8.1.3.South Korea
8.1.4.India
8.1.5.Australia
8.1.6.New Zealand
8.1.7.Taiwan
8.1.8.Southeast Asia
8.1.9.Central Asia
8.1.10.Rest of Asia Pacific
8.2.Asia Pacific Handwriting Recognition (HWR) Market, by Type, 2015-2027(USD Million)
8.2.1.Overview
8.2.2.Online
8.2.3.Offline
8.3.Asia Pacific Handwriting Recognition (HWR) Market, by End-user, 2015-2027(USD Million)
8.3.1.Overview
8.3.2.Registry Forms
8.3.3.Automotive
8.3.4.Education, Literature and Cultural Heritage
8.3.5.Enterprise and Field Services
8.3.6.Healthcare and Others

9.Latin America

9.1.Latin America Handwriting Recognition (HWR) Market, by Country, 2015-2027(USD Million)
9.1.1.Brazil
9.1.2.Argentina
9.1.3.Peru
9.1.4.Chile
9.1.5.Colombia
9.1.6.Rest of Latin America
9.2.Latin America Handwriting Recognition (HWR) Market, by Type, 2015-2027(USD Million)
9.2.1.Overview
9.2.2.Online
9.2.3.Offline
9.3.Latin America Handwriting Recognition (HWR) Market, by End-user, 2015-2027(USD Million)
9.3.1.Overview
9.3.2.Registry Forms
9.3.3.Automotive
9.3.4.Education, Literature and Cultural Heritage
9.3.5.Enterprise and Field Services
9.3.6.Healthcare and Others

10.Middle East

10.1.Middle East Handwriting Recognition (HWR) Market, by Country, 2015-2027(USD Million)
10.1.1.UAE
10.1.2.KSA
10.1.3.Israel
10.1.4.Turkey
10.1.5.Iran
10.1.6.Rest of Middle East
10.2.Middle East Handwriting Recognition (HWR) Market, by Type, 2015-2027(USD Million)
10.2.1.Overview
10.2.2.Online
10.2.3.Offline
10.3.Middle East Handwriting Recognition (HWR) Market, by End-user, 2015-2027(USD Million)
10.3.1.Overview
10.3.2.Registry Forms
10.3.3.Automotive
10.3.4.Education, Literature and Cultural Heritage
10.3.5.Enterprise and Field Services
10.3.6.Healthcare and Others

11.Africa

11.1.Africa Handwriting Recognition (HWR) Market, by Country, 2015-2027(USD Million)
11.1.1.South Africa
11.1.2.Egypt
11.1.3.Nigeria
11.1.4.Rest of Africa
11.2.Africa Handwriting Recognition (HWR) Market, by Type, 2015-2027(USD Million)
11.2.1.Overview
11.2.2.Online
11.2.3.Offline
11.3.Africa Handwriting Recognition (HWR) Market, by End-user, 2015-2027(USD Million)
11.3.1.Overview
11.3.2.Registry Forms
11.3.3.Automotive
11.3.4.Education, Literature and Cultural Heritage
11.3.5.Enterprise and Field Services
11.3.6.Healthcare and Others

12.Global

12.1.Global Handwriting Recognition (HWR) Market, by Type, 2015-2027(USD Million)
12.1.1.Overview
12.1.2.Online
12.1.3.Offline
12.2.Global Handwriting Recognition (HWR) Market, by End-user, 2015-2027(USD Million)
12.2.1.Overview
12.2.2.Registry Forms
12.2.3.Automotive
12.2.4.Education, Literature and Cultural Heritage
12.2.5.Enterprise and Field Services
12.2.6.Healthcare and Others

13.Company Profiles

13.1.MyScript
13.2.Nuance Communications, Inc.
13.3.SELVAS AI, Inc.
13.4.Hanwang Technology Co., Ltd.
13.5.Paragon Software Group
13.6.PhatWare Corporation
13.7.SinoVoice (Beijing Jietong Huasheng Technology Co. Ltd.)
13.8.Sciometrics, LLC
Others

List of Figures

FIG. 1 Global Handwriting Recognition (HWR) Market: Research Methodology

FIG. 2 Market Size Estimation – Top Down & Bottom up Approach

FIG. 3 Global Handwriting Recognition (HWR) Market Segmentation

FIG. 4 Global Handwriting Recognition (HWR) Market, by Type, 2019 (USD Million)

FIG. 5 Global Handwriting Recognition (HWR) Market, by End-user, 2019 (USD Million)

FIG. 6 Global Handwriting Recognition (HWR) Market, by Geography, 2019 (USD Million)

FIG. 7 Attractive Investment Proposition, by Geography, 2019

FIG. 8 Global Market Positioning of Key Handwriting Recognition (HWR) Market Manufacturers, 2019

FIG. 9 Global Handwriting Recognition (HWR) Market Value Contribution, By Type, 2020 & 2027 (Value %)

FIG. 10 Global Handwriting Recognition (HWR) Market, by Online, Value, 2015-2027 (USD Million)

FIG. 11 Global Handwriting Recognition (HWR) Market, by Offline, Value, 2015-2027 (USD Million)

FIG. 12 Global Handwriting Recognition (HWR) Market, by Others, Value, 2015-2027 (USD Million)

FIG. 13 Global Handwriting Recognition (HWR) Market Value Contribution, By End-user, 2020 & 2027 (Value %)

FIG. 14 Global Handwriting Recognition (HWR) Market, by Registry Forms, Value, 2015-2027 (USD Million)

FIG. 15 Global Handwriting Recognition (HWR) Market, by Automotive, Value, 2015-2027 (USD Million)

FIG. 16 Global Handwriting Recognition (HWR) Market, by Education, Literature and Cultural Heritage, Value, 2015-2027 (USD Million)

FIG. 17 Global Handwriting Recognition (HWR) Market, by Enterprise and Field Services, Value, 2015-2027 (USD Million)

FIG. 18 Global Handwriting Recognition (HWR) Market, by Healthcare and Others, Value, 2015-2027 (USD Million)

FIG. 19 U.S. Handwriting Recognition (HWR) Market, 2015-2027 (USD Million)

FIG. 20 Rest of North America Handwriting Recognition (HWR) Market, 2015-2027 (USD Million)

FIG. 21 U.K. Handwriting Recognition (HWR) Market, 2015-2027 (USD Million)

FIG. 22 Germany Handwriting Recognition (HWR) Market, 2015-2027 (USD Million)

FIG. 23 France Handwriting Recognition (HWR) Market, 2015-2027 (USD Million)

FIG. 24 Rest of Europe Handwriting Recognition (HWR) Market, 2015-2027 (USD Million)

FIG. 25 Japan Handwriting Recognition (HWR) Market, 2015-2027 (USD Million)

FIG. 26 China Handwriting Recognition (HWR) Market, 2015-2027 (USD Million)

FIG. 27 India Handwriting Recognition (HWR) Market, 2015-2027 (USD Million)

FIG. 28 Rest of Asia Pacific Handwriting Recognition (HWR) Market, 2015-2027 (USD Million)

FIG. 29 Middle East & Africa Handwriting Recognition (HWR) Market, 2015-2027 (USD Million)

FIG. 30 Latin America Handwriting Recognition (HWR) Market, 2015-2027 (USD Million)

List of Tables

TABLE 1 Market Snapshot: Global Beauty Devices   (Handwriting Recognition (HWR)) Market

TABLE 2 Global Handwriting Recognition (HWR) Market, by Type, 2015-2027 (USD Million)

TABLE 3 Global Handwriting Recognition (HWR) Market, by End-user, 2015-2027 (USD Million)

TABLE 4 Global Handwriting Recognition (HWR) Market, by Geography, 2015-2027 (USD Million)

TABLE 5 North America Handwriting Recognition (HWR) Market, by Type, 2015-2027 (USD Million)

TABLE 6 North America Handwriting Recognition (HWR) Market, by End-user, 2015-2027 (USD Million)

TABLE 7 North America Handwriting Recognition (HWR) Market, by Country, 2015-2027 (USD Million)

TABLE 8 Europe Handwriting Recognition (HWR) Market, by Type, 2015-2027 (USD Million)

TABLE 9 Europe Handwriting Recognition (HWR) Market, by End-user, 2015-2027 (USD Million)

TABLE 10 Europe Handwriting Recognition (HWR) Market, by Country/Region, 2015-2027 (USD Million)

TABLE 11 Asia Pacific Handwriting Recognition (HWR) Market, by Type, 2015-2027 (USD Million)

TABLE 12 Asia Pacific Handwriting Recognition (HWR) Market, by End-user, 2015-2027 (USD Million)

TABLE 13 Asia Pacific Handwriting Recognition (HWR) Market, by Country/Region, 2015-2027 (USD Million)

TABLE 14 Latin America Handwriting Recognition (HWR) Market, by Type, 2015-2027 (USD Million)

TABLE 15 Latin America Handwriting Recognition (HWR) Market, by End-user, 2015-2027 (USD Million)

TABLE 16 Latin America Handwriting Recognition (HWR) Market, by Country/Region, 2015-2027 (USD Million)

TABLE 17 Middle East Handwriting Recognition (HWR) Market, by Type, 2015-2027 (USD Million)

TABLE 18 Middle East Handwriting Recognition (HWR) Market, by End-user, 2015-2027 (USD Million)

TABLE 19 Middle East Handwriting Recognition (HWR) Market, by Country/Region, 2015-2027 (USD Million)

TABLE 20 Africa Handwriting Recognition (HWR) Market, by Type, 2015-2027 (USD Million)

TABLE 21 Africa Handwriting Recognition (HWR) Market, by End-user, 2015-2027 (USD Million)

TABLE 22 Africa Handwriting Recognition (HWR) Market, by Country/Region, 2015-2027 (USD Million)

TABLE 23 MyScript: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments)

TABLE 24 Nuance Communications, Inc.: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments)

TABLE 25  SELVAS AI, Inc.: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments)

TABLE 26 Hanwang Technology Co., Ltd.: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments)

TABLE 27 Paragon Software Group: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments)

TABLE 28  PhatWare Corporation: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments

TABLE 29 Koninklijke Philips N.V.: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments

TABLE 30 SinoVoice (Beijing Jietong Huasheng Technology Co. Ltd.): Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments

TABLE 31 Sciometrics, LLC: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments