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Report Insights: According to Cognitive Market Research, the global Optical Character Recognition OCR for Car market size will be USD 12524.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 14.50% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 5009.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3757.35 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2880.64 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 626.23 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 250.49 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.2% from 2024 to 2031.
The Small & Medium Enterprises category is the fastest growing segment of the Optical Character Recognition OCR for Car industry
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