The Handwritten Text Recognition (HTR) technology converts printed and physical documents into machine-readable texts. It extracts scanned papers, image-only pdfs, and camera images and repurposes them. HTR software extracts letters from images and translates them into words and then sentences, allowing access to alter the original text. Moreover, widespread adoption of HTR technology has been observed in BFSI, healthcare, retail, tourism, logistics, transportation, government, manufacturing, and other sectors. The growth of the HRT market is primarily attributed to the improvement in productivity and a rise in the penetration of automatic recognition systems.

Future Market:

The global optical character recognition market size was valued at USD 8.93 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 15.4% from 2022 to 2030.

Challenges:

• Different levels of quality
• Background image noise
• A variety of individual handwritings, including different styles and different alphabets
• Characters might be skewed which makes recognition harder
• Neighboring symbols can be connected
• Low quality documents