Industry Analysis & Industry Trends
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Demand for optical character-recognition software will pick up over the next five years. Industry revenue declined marginally during the recession, as private investment took a hit, but businesses will resume spending on OCR software in the coming years. In particular, as medical records move online, businesses will need the software to assist in the process. ... purchase to read more
Industry Report - Industry Investment Chapter
The Optical Character-Recognition Software Developers industry is highly labor-intensive and has a low level of capital intensity. Using wages as a proxy for labor and depreciation as a proxy for capital, IBISWorld estimates that for every dollar spent on labor in 2012, $0.08 is absorbed by depreciation. Depreciation expenses, stemming mainly from purchased computers and rented office space, are inherently low in this industry. Employees and time are the two most important resources developers require to produce software. Since the skills and experience of software programmers determine the quality of the software, industry players place a high priority on attracting highly skilled employees. In 2012, wages are estimated to account for 25.3% o... purchase to read more