Document Outsourcing Services Market Size

Document Outsourcing Services Market size was over USD 5.59 Billion in 2023 and is anticipated to reach USD 23.83 Billion by 2036, growing at around 11.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of document outsourcing services is estimated at USD 6.18 Billion. The market is growing owing to the organizations around the globe are demanding to outsource their document management services in order to save time, and inconvenience related to in-house document services. Also, to improve the efficiency and risks associated with the documents, people are determined to outsource document management solutions. In 45% of small enterprises, document management is still done on paper. 11% of small organizations do not use a document management system. For 45% of businesses, it took at least a week to sign a contract. 200 zettabytes of data will be kept on the planet by 2025.

The cost of data breaches in organizations that do not have automatic records management has increased by a forecasted USD 0.73 million worldwide in 2019. In view of this rise in the cost of data breaches, organizations around the world are looking for high-quality outsourcing services. With the increasing cost of data breaches, companies are seeking consistent outsourcing services. Between March 2021 and February 2022, at least 42 million records were exposed due to data breaches.