Enjoy complimentary customisation on priority with our Enterprise License!
The data-entry outsourcing services market size is estimated to grow at a CAGR of 6.01% between 2022 and 2027. The market size is forecast to increase by USD 185.56 million. The growth of the market depends on several factors, including the increasing need for cost-effective solutions to improve efficiency, the need for enterprises to focus on core competencies, and the vendors with expertise in the field. Data-entry outsourcing services refer to the outsourcing of a part or the whole of data-entry business functions such as online data entry, offline data entry, /image data entry, and other financial bookkeeping entries, all of which are non-core functions of businesses and enterprises.
This data-entry outsourcing services market report extensively covers market segmentation by end-user (BFSI, IT and telecom, manufacturing, healthcare, and others), type (e-commerce products, invoices, customer orders, forms and documents, and others), and geography (APAC, North America, South America, Europe, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, View Report Sample
The increasing need for cost-effective solutions to improve efficiency is driving growth in the data-entry outsourcing services market. Outsourcing data entry services helps businesses cut costs and reduce turnaround times by delegating tasks that are not important such as content management to specialized vendors. Thus, data-entry outsourcing helps enterprises to achieve cost-effectiveness and improve their efficiency.
When enterprises outsource data entry operations to service providers, they can reduce the cost of hiring a process executive, which, in turn, lowers the costs incurred on labor. Thus, outsourcing of data entry services for the purpose of improving operational efficiency helps organizations to achieve this and is a cost-efficient solution, which is a prominent factor driving the growth of the global data entry outsourcing services market during the forecast period.
The increasing automation across the data-entry services industry is a key trend in the data-entry outsourcing services market. With each passing day, the world is becoming more automated, and automation of data entry processes is also taking place. Automation of data-entry services is expected to be a negative trend for the global data-entry outsourcing services market, as it may have an adverse impact on the outsourcing of such services.
Moreover, human data entry is prone to errors, and hence, manual data entry may not be sustainable in the future. Therefore, businesses are adapting to the automation of data entry processes. Automated data entry is highly accurate and eliminates the scope of manual errors. Therefore, during the forecast period, the trend of automation is expected to increase, and companies may stop outsourcing their data-entry requirements, which may hinder the growth of the global data-entry outsourcing services market during the forecast period.
Data volume and complexity associated with data-entry outsourcing services is a major challenge faced by the data-entry outsourcing services market. The global market for data entry outsourcing services faces a serious problem with respect to the volume and complexity of data. As businesses accumulate vast amounts of data, service providers must grapple with the task of efficiently processing, organizing, and inputting this information accurately.
Additionally, complex data structures such as unstructured text, /images, and diverse data formats, add layers of intricacy to the data entry process. The challenge that requires a mix of human skill and technology support is to ensure accuracy and the preservation of data integrity while dealing with different sources of information. Thus, data volume and complexity associated with data-entry outsourcing services can pose a major challenge to the growth of the global data-entry outsourcing services market during the forecast period.
The market share growth by the BFSI segment will be significant during the forecast period. The large presence and expansion of banks and financial institutions is a key factor, because of the burgeoning demand for financial inclusion in emerging economies such as India. BFSI companies are opening offices even in remote locations to increase the customer base.
Get a glance at the market contribution of various segments View Free PDF Sample
The BFSI segment showed a gradual increase in the market share of USD 151.41 million in 2017 and continued to grow by 2021. BFSI is a highly methodical and structured sector that lays down the hard-coded procedures to which an employee must adhere in day-to-day activities. BFSI companies are outsourcing their content and data management the responsibilities of reliable data entry partners that use specialized resources for efficient data management will be with the partner employee.
E-commerce product data entry is a pivotal service that involves accurately and efficiently inputting product information onto online selling platforms. By outsourcing this task, e-commerce businesses can focus on core operations while ensuring that their product catalogs are consistently updated and user-friendly. The shopping experience for the customer is enhanced through time and accurate data entry so that they are able to make sound purchasing decisions. Moreover, this service provides a means of maintaining an organized and coherent product presentation which contributes to brand loyalty and customer confidence. With the continuous growth of the e-commerce sector, proper data entry becomes indispensable for seamless online retail operations, contributing to increased sales, improved customer satisfaction, and sustained business growth. Thus, the growing e-commerce industry will drive the growth of the market in focus on the e-commerce products segment during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to vendors is North America. Evolving consumer demand and rising competition in the market are throwing up the challenge of providing superior products and services at low prices for businesses and enterprises across North America, which ultimately has a negative impact on their overall profit margins.
Moreover, competition from companies in emerging nations such as China and India is fierce for North American businesses, particularly with regard to costs. This is essentially compelling companies in North America to invest heavily in R&D to address the capacity, innovation, and scalability requirements of modern businesses. Therefore, companies are outsourcing many non-core activities such as accounting, administrative tasks, customer support, and data-entry functions. Outsourcing data-entry is an effective way for businesses to reduce their costs of operation, as outsourcing reduces labor and infrastructure costs in a company. As such, many companies in the US and Canada are readily offering data-entry services to meet the growing demand for quality and outstanding data-entry services.
The outbreak of COVID-19 positively impacted the growth of the data-entry outsourcing services market in North America in 2021. However, the initiation of large-scale COVID-19 vaccination drives in the second half of 2020, which led to the lifting of restrictions, and the growing demand for data-entry outsourcing services in the US and Canada are driving market growth in North America. Owing to such factors, the market for data-entry outsourcing services is expected to grow significantly in the region during the forecast period.
The Data-entry Outsourcing Services Market industry report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Data-entry Outsourcing Services Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
365Outsource- The company offers data entry outsourcing services such as mailing list data entry, database data entry, /image data entry, and E-book data entry.
Acelerartech- The company offers data entry outsourcing services such as online data entry, ebook data entry, mailing list compilation, data cleansing outsourcing, and file conversion outsourcing.
Acquire BPO Pty Ltd- The company offers data entry outsourcing services as a back office for clients in the areas of accounting, bookkeeping, administration, /image, document processing, and software development.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The data-entry outsourcing services market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
|
Data-entry Outsourcing Services Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
174 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 6.01% |
|
Market growth 2023-2027 |
USD 185.56 million |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023(%) |
5.48 |
|
Regional analysis |
APAC, North America, South America, Europe, and Middle East, and Africa |
|
Performing market contribution |
APAC at 40% |
|
Key countries |
US, Mexico, India, China, and Germany |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
365Outsource, Acelerartech, Acquire BPO Pty Ltd, Arcgate Technologies LLP., ARDEM Inc., Cogneesol BPO Pvt. Ltd., DataMondial, Flatworld Solutions Pvt. Ltd., India Data Outsourcing Services, Invensis Technologies Pvt Ltd., Keyoung Information Ltd., Magellan Solutions Inc., MicroSourcing International Ltd., Offshore Business Processing Pty Ltd, Oworkers, Perfect Data Entry, Probe CX, Saivion Outsourcing Services Pvt. Ltd., SunTec Web Services Pvt. Ltd., and Trupp Global Technologies Pvt. Ltd. |
|
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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
