Global Document Outsourcing Services Market

Global Document
Outsourcing Services
Market
Share, Global Trends,
Analysis, Research, Report,
Opportunities,
Segmentation and Forecast,
2014 – 2020
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Report
Description
Report Description
Document outsourcing involves the outsourcing of document processing to a third-party service
provider. Document processing service providers convert typed and handwritten text into paperbased electronic documents by using intelligent character recognition (ICR), data entry
techniques, and optical character recognition (OCR).
Global Document Outsourcing Services Market Will Witness High Single-Digit Growth Through
2020
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.
Report
Description
Report Description
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.
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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.
Challenges for the Global Document Outsourcing Market
Issues related to the flexibility of service level agreements (SLAs) are projected to be the key
challenge for the growth of the global document outsourcing services market.
Report
Description
Report Description
Document processing service providers do not allow any changes in the document processing
SLA once the key points have been agreed upon and this creates problems for the the
companies as they are not able to customise the services according to their requirement. It is
projected that the rigidness in SLAs could be the key challenge for the growth of the global
document outsourcing market in the future.
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Key Regions for the Global Document Outsourcing Services Market
Western Europe, the U.S., and Asia Pacific are the key regions for the growth of the document
outsourcing processing market. The document outsourcing services market was estimated to be
worth US$ 30 Bn in 2014, and it is projected that the market will reach a valuation of around
US$ 35 Bn by 2020. The document outsourcing services market in the U.S. is expected to witness
a CAGR of around 3% through 2020. As discussed before, the focus of clients to decrease the
operational costs will be the key driver for the growth of this market in these regions.
Key Players in the Global Document Outsourcing Services Market
Xerox Corp., Lexmark International Inc., Hewlett-Packard Co., and Ricoh Co. Ltd., are the key
players in the global document processing market.
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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.