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Document outsourcing involves the outsourcing of document processing to a third-party service provider. Document processing service providers convert typed and handwritten text into paper-based electronic documents by using intelligent character recognition (ICR), data entry techniques, and optical character recognition (OCR).
Scope of the Report:
This report studies the Document Outsource market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Document Outsource market by product type and applications/end industries.
The global document outsourcing services market is anticipated to expand at a single-digit CAGR over the next five years. Increasing demand for end-to-end document outsourcing services is projected to be the key factor for the growth of this market. Other key factors for the growth of this market include decreasing print volumes, increasing demand for new technologies, and a focus on reducing the operational costs.
Globally, organisations are understanding the importance of having a seamless process for business processes so that they can get maximum productivity from their resources. Organisations around the world are banking on the expertise of third-party service providers for their document processing services and this is projected to be another reason for the growth of the global document outsourcing services market.
On the other hand, document outsourcing services providers are trying their best to capitalise on the opportunities provided to them and they are offering a variety of document processing services to their clients. As more service providers broaden their portfolios, it is forecasted that there will be an increase in the number of organisations outsourcing their document processing work, and this will lead to a growth in the market over the next five years.
Technological innovations have brought dramatic changes in the whole process of document processing and due to this many organisations have become increasingly reliant on third-party vendors for managing their document processing services. Furthermore, most organisations don't have the time or resources to train their employees on new tools and systems. This is where document processing service providers are stepping and helping the organisations with end-to-end solutions. These factors are further projected to contribute to the growth of the global document outsourcing services market through 2020.
The global Document Outsource market is valued at 15000 million USD in 2017 and is expected to reach 14300 million USD by the end of 2023, growing at a CAGR of -0.8% between 2017 and 2023.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Document Outsource.
Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.
Market Segment by Companies, this report covers
- Lexmark International
- Swiss Post
- ARC Document Solutions
- Konica Minolta
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Market Segment by Applications, can be divided into
- Small Enterprise
- Medium Enterprise
- Large Enterprise