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Document Outsourcing Market To Grow By USD 17.79 Billion From 2022 To 2027, Increased Efficiency Of Document Management Using Hybrid Solutions To Drive Market Growth- Technavio

By PR Newswire

PR Newswire
Overall Rating

NEW YORK, Sept. 19, 2023 /PRNewswire/ -- The "document outsourcing market by service (onsite contracted services, statement printing services, and DPO services), end-user (large companies, small, and medium companies), and geography (North America, Europe, APAC, South America, and Middle East and Africa) - Forecast and Analysis 2023-2027" report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the document outsourcing market from 2023 to 2027 is USD 17.79 billionaccording to Technavio. Increased efficiency of document management using hybrid solutions is a key factor driving market growth. Management of documents becomes extremely difficult when they are stored in unstandardized formats and contain unbound content. As a general matter, it is very hard to access documents that are in the form of paper file folders and record storage boxes at different locations or digitized files that are housed in various applications. Therefore, to overcome these challenges, it is appropriate to apply mixed solutions for the management of documents. Additionally, documents are stored in paper format and scanned to convert to digital format in a combined document management solution that improves document accessibility for customers. Additionally, service providers that provide physical storage and document processing services can offer a hybrid model that offers greater efficiency than conventional document formats. Hence, these factors are expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge

System integration issues are a significant challenge restricting market growth. 

Learn about additional key drivers, trends, and challenges available with Technavio. Read FREE Sample PDF Report Now

The document outsourcing market is segmented by service (onsite contracted services, statement printing services, and DPO services), end-user (large companies, small, and medium companies), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

  • The market share growth by the onsite contracted services segment will be significant during the forecast period. In the on-site contract services model, service providers provide technology-based and on-site services for document conversion, review and consulting, and in-house printing. These services are specifically designed to meet customer requirements and evaluate the customer's IT architecture. Based on vertical type, company size, and other competitive factors, they deploy document management solutions. For example, Xerox provides on-site contract services to data centers, financial companies, HR applications, IT companies, legal organizations, and several other industries. Companies are emphasizing advanced and innovative document management solutions based on the advancements and increasing complexity associated with document management across industries. Hence, these factors are expected to drive segment growth during the forecast period. 

View the FREE Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the document outsourcing market:

ABBYY Solutions Ltd., Accenture Plc, Adreno Technologies India Pvt. Ltd., Canon Inc., Compart AG, FUJIFILM Holdings Corp., HP Inc., Imaging Business Machines LLC, Invensis Technologies Pvt Ltd., Iron Mountain Inc., Konica Minolta Inc., Lexmark International Inc., Pitney Bowes Inc., Ricoh Co. Ltd., Seiko Epson Corp., Swiss Post Ltd, Toshiba Tec Corp., Williams Lea Ltd., Xerox Holdings Corp., and Siemens AG

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Document Outsourcing Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.69%

Market growth 2023-2027

USD 17.79 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.93

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

Europe at 38%

Key countries

US, China, Japan, Germany, and the UK

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

ABBYY Solutions Ltd., Accenture Plc, Adreno Technologies India Pvt. Ltd., Canon Inc., Compart AG, FUJIFILM Holdings Corp., HP Inc., Imaging Business Machines LLC, Invensis Technologies Pvt Ltd., Iron Mountain Inc., Konica Minolta Inc., Lexmark International Inc., Pitney Bowes Inc., Ricoh Co. Ltd., Seiko Epson Corp., Swiss Post Ltd, Toshiba Tec Corp., Williams Lea Ltd., Xerox Holdings Corp., and Siemens AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Service

Market Segmentation by End-User

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com

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SOURCE Technavio

First published on Wed, Sep 20, 2023

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