Data-entry Outsourcing Services Market by End-user, Type and Geography - Forecast and Analysis 2023-2027

Data-entry Outsourcing Services Market Forecast 2023-2027

The data-entry outsourcing services market size is estimated to increase by USD 185.56 million and grow at a CAGR of 6.01% between 2022 and 2027. 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. 

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

The 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.

By End-user

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.

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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.

Market Segmentation By Type

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.

Regional Overview

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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.

Market Dynamics and Customer Landscape

The market is experiencing dynamic growth, fueled by advancements in IoT, AI technologies, and cloud computing. Manufacturers and businesses are increasingly turning to Business Process Outsourcing (BPO), BPS, and BPaaS to streamline operations and leverage automation for improved efficiency. AI technologies and data analytics play a pivotal role in enhancing data-entry processes, while freelancing platforms like Perfect Data Entry cater to the demand for skilled professionals. Upcoming trends in IoT and AI are reshaping the landscape, with key participants in IT, telecom, manufacturing, and healthcare driving innovation. Publishers conduct studies to synthesize quantitative and qualitative data, providing insights into product penetration and consumer buying behavior across end-application industries. As commercial development accelerates, the data-entry outsourcing market remains at the forefront, offering tailored solutions to meet evolving industry demands.

Key Market Driver

The market is experiencing significant growth, fueled by the increasing need for cost-effective solutions to enhance efficiency. By outsourcing data entry tasks, businesses can streamline operations, reduce turnaround times, and cut costs effectively. This approach enables enterprises to delegate non-core tasks such as content management to specialized vendors, allowing them to focus on core competencies. Outsourcing data entry operations also reduces the overhead of hiring process executives, resulting in lower labor costs. As a result, organizations can achieve operational efficiency and cost-effectiveness, driving the growth of the global data entry outsourcing services market. With the rise of IoT, AI technologies, and cloud computing, outsourcing data entry emerges as a strategic solution for industries ranging from IT and telecom to healthcare and manufacturing, catering to diverse business process outsourcing (BPO) needs.

Significant Market Trends

The increasing automation across the data-entry services industry is a key trend in the 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 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 market during the forecast period.

Significant Market Restrain

Data volume and complexity associated with these services is a major challenge faced by the 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 the services can pose a major challenge to the growth of the global market during the forecast period.

Market Customer Landscape

The 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 Market Customer Landscape

Who are the Major Market Companies?

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:

• 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

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.

Segment Overview

The 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. 

• End-user Outlook 
  • BFSI
  • IT and telecom
  • Manufacturing
  • Healthcare
  • Others

• Type Outlook
  • E-commerce products
  • Invoices
  • Customer orders
  • Forms and documents
  • Others

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Chile
    • Argentina
    • Brazil

Market Analyst Overview

The market is witnessing significant growth propelled by advancements in AI technologies and cloud computing. Businesses are increasingly turning to BPaaS and BPO solutions to enhance productivity and streamline data management processes. With the rise of digital transformation, data security and regulatory considerations are paramount, driving the need for skilled professionals and robust data analytics capabilities. Offshore suppliers play a crucial role in providing cost-effective solutions, while IoT and edge computing technologies further augment data-entry processes. As businesses navigate economic and political scenarios, outsourcing abroad offers both challenges and opportunities. Key participants in the market are adapting to future innovations and upcoming trends, leveraging data synthesis and qualitative insights to tailor services to meet the evolving needs of end application industries.

Moreover, the market is experiencing significant growth driven by advancements in Artificial Intelligence (AI) and Cloud Technology. Businesses are increasingly turning to Business Process Outsourcing (BPO) and Business Process Services (BPS) to streamline data-entry processes and leverage cost-effective solutions. Factors such as attrition rates and offshoring strategies influence the market dynamics, while legal and regulatory considerations shape operational frameworks. Manufacturers and publishers are among the key players outsourcing data-entry tasks to optimize operations. With the rise of Freelancing and Internet of Things (IoT), the market landscape is evolving, presenting both challenges and opportunities. Sales and marketing efforts, coupled with promotions, are essential for product or service penetration in diverse economic scenarios and social scenarios. As businesses navigate future innovation and technologies, data-driven insights from qualitative and quantitative data play a crucial role in decision-making, highlighting the importance of subject-related expert advice and summation of data for informed strategies. In regions like Thailand, the BPO market continues to witness growth, driven by factors such as commercial development and wage considerations.

In the middle phase of any industry's lifecycle, there are both negative and positive changes to navigate. This holds particularly true for telemarketing, where regulatory constraints often intersect with evolving consumer preferences. Negative changes might include increased restrictions on unsolicited calls or stricter privacy regulations, which can impede traditional telemarketing strategies. However, positive changes emerge in the form of advancements in data analytics and targeted marketing techniques, enabling more personalized and effective outreach. Despite regulatory challenges, telemarketing continues to adapt and thrive, especially with the penetration of innovative products or services. Companies are leveraging telemarketing not just for sales, but also for customer support and feedback collection. As businesses study consumer behavior more closely, they tailor telemarketing campaigns to align with regulatory guidelines while maximizing impact. Ultimately, telemarketing remains a valuable tool for businesses to engage with their audience, provided it evolves in tandem with regulatory and consumer dynamics.

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 and trends, Market forecasting, 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.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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