Document Outsourcing Services Market Trends

  • Report ID: 762
  • Published Date: Dec 20, 2024
  • Report Format: PDF, PPT

Document Outsourcing Services Market Trends

Growth Drivers

  • Increasing Demand for Digitized Documents – As compared to paper documents, digital documents provide various features such as easy storage, manipulation, access from remote locations, and better collaboration of the documents. Moreover, digital data provides much more security than paper documents and can be encoded to protect information. IDC predicts that by 2025, AI technology will be incorporated into at least 90% of new enterprise apps' operations and end products.
  • Efficient Document Management - Document management solutions, which can be used for storing documents and organizing them, tracking the versions of documents, or automatically processing document-related tasks, are available to organizations. Organizations can cut down on administrative tasks and enhance document security, as well as streamline their collaboration with external stakeholders through the use of document management solutions. Moreover, document management system can assist organizations in providing better customer services and ensuring compliance while decreasing their risk of data loss.
  • Increasing Demand for Cloud-Based Document Services – Many companies around the world are adopting cloud sourcing for the effective incorporation of their business processes. The steady shift from outdated data centers to cloud sourcing is anticipated to drive investment in IT during the forecast period. Benefits such as cost-saving, and cloud sourcing are estimated to propel the market growth in the upcoming years. In comparison to the 55% of respondents who still rely on traditionally maintained on-premises systems, about two-thirds of respondents today operate in a public cloud and 45% utilize a private cloud.

Challenges

  • Expensive services of Document Outsourcing – The cost of document outsourcing services is higher than that of traditional printing and document management services. Also, document outsourcing services are frequently provided on a project basis and it is difficult to calculate in advance the costs of these services which would result in an increased cost for customers. The higher prices incurred in document outsourcing services may hamper the market growth.
  • Lack of Expertise in Document Sourcing Services
  • Growing Competition with Traditional Printing

Document Outsourcing Services Market: Key Insights

Our-in depth analysis of the global Document Outsourcing Services market includes the following segments:

By Services

  • Onsite contracted services
  • Statement printing services
  • Document process outsourcing (DPO) services

By End-Users

  • Corporate Offices
  • Educational Institutions
  • Research Institutes
  • Others

By Region

Global Document Outsourcing Services Market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Base Year

2024

Forecast Year

2025-2037

CAGR

11.70%

Base Year Market Size (2024)

USD 6.24 billion

Forecast Year Market Size (2037)

USD 26.3 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:


Author Credits:  Abhishek Verma


  • Report ID: 762
  • Published Date: Dec 20, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of document outsourcing services is assessed at USD 7.46 billion.

The document outsourcing services market size was valued at USD 6.24 billion in 2024 and is likely to cross USD 26.3 billion by 2037, expanding at more than 11.7% CAGR during the forecast period i.e., between 2025-2037. Increasing demand for digitized documents, efficient document management and increasing demand of cloud-based document services will drive the market growth.

North America industry is estimated to account for largest revenue share of 32% by 2037, backed by growing numbers of businesses outsourcing business-related tasks, such as document scanning, document conversion, and document storage in the region.

The major players in the market are Integreon Inc., Xerox Corp., Accenture, HP Company, Arvato Group, Konica Minolta Holdings Inc., ABBYY, Swiss Post, Lexmark International Inc., Ricoh Co. Ltd.
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