Document Outsourcing Market by Outsourcing Services and Geography - Forecast and Analysis 2021-2025
- Published: Jul 2021
- Pages: 120
- SKU: IRTNTR45408
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The document outsourcing market share is expected to increase to USD 15.42 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.32%.
This document outsourcing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers document outsourcing market segmentation by outsourcing services (onsite contracted services, statement printing services, and DPO services) and geography (North America, Europe, APAC, South America, and MEA).
What will the Document Outsourcing Market Size be During the Forecast Period?
Download the Free Report Sample to Unlock the Document Outsourcing Market Size for the Forecast Period and Other Important Statistics
The document outsourcing market report also offers information on several market vendors, including Accenture Plc, Canon Inc., FUJIFILM Holdings Corp., HP Inc., Konica Minolta Inc., Lexmark International Inc., Ricoh Co. Ltd., Seiko Epson Corp., Toshiba Corp., and Xerox Corp. among others.
Document Outsourcing Market: Key Drivers, Trends, and Challenges
The need for cost reduction, enhanced efficiency, and regulatory compliance is notably driving the document outsourcing market growth, although factors such as data security issues in outsourcing may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the document outsourcing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Document Outsourcing Market Driver
The need for cost reduction, enhanced efficiency, and regulatory compliance is a major factor driving the global document outsourcing market share growth. Various organizations around the world are opting to outsource their document management services to eliminate the time, costs, and inconvenience associated with in-house document management services. Moreover, developing an in-house document management solution also involves the risk of failure, which may result in an increase in the costs and time required for its development. To avoid such risks and to enhance the efficiency of the document management process, organizations are readily opting for the outsourcing of document management solutions. In 2019, the cost of data breaches in organizations with no automated data handling rose by an estimated $0.73 million across the world. Considering such an increase in the cost of data breaches, organizations worldwide are looking for reliable outsourcing services. This, in turn, is driving the global document outsourcing market.
Key Document Outsourcing Market Trend
The increase in preference for cloudsourcing is another factor supporting the global document outsourcing market share growth. Cloudsourcing is the integration of outsourcing services with cloud computing technology. An increasing number of businesses are shifting to cloudsourcing for the effective integration of their business processes. Companies are outsourcing the deployment and maintenance of specialized cloud products and services to cloud service providers. The gradual shift from traditional data centers to cloudsourcing is expected to drive IT spending during the forecast period. The demand for cloudsourcing will create the need for cloud platforms and online data centers for data storage purposes. SMBs are readily opting for cloudsourcing services to benefit from cost-effective document management in the cloud. Owing to the advantage of cost-saving, cloudsourcing is anticipated to witness an increase in its adoption during the forecast period.
Key Document Outsourcing Market Challenge
The data security issues in outsourcing will be a major challenge for the global document outsourcing market share growth during the forecast period. There are security concerns associated with the use of outsourcing services, such as ensuring the privacy of sensitive data and the quality of services. Outsourcing vendors deal with data from several businesses simultaneously and use the same servers and devices to store the data, which may lead to the merging or leaking of sensitive and confidential information. Outsourcing companies must deploy effective security measures and secure platforms that must comply with stringent data protection regulations. If an outsourcing service provider fails to ensure the safety of the documents, clients can take legal action against the vendor, which, in turn, can have a negative impact on the brand identity and image of the outsourcing service provider/vendor. This also hampers the revenue and the consumer base of the company. Meanwhile, any leakage of confidential information may cause a significant revenue loss for several companies. Therefore, the issues related to the security of documents and the information contained therein pose a major challenge for vendors operating in the global document outsourcing market.
This document outsourcing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global document outsourcing market as a part of the global data processing and outsourced services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the document outsourcing market during the forecast period.
Who are the Major Document Outsourcing Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Accenture Plc
- Canon Inc.
- FUJIFILM Holdings Corp.
- HP Inc.
- Konica Minolta Inc.
- Lexmark International Inc.
- Ricoh Co. Ltd.
- Seiko Epson Corp.
- Toshiba Corp.
- Xerox Corp.
This statistical study of the document outsourcing market encompasses successful business strategies deployed by the key vendors. The document outsourcing market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Accenture Plc- The company offers document outsourcing for the process of creating, storing, and retaining employee-related communications.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The document outsourcing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Document Outsourcing Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the document outsourcing market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
Which are the Key Regions for Document Outsourcing Market?
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39% of the market's growth will originate from Europe during the forecast period. Germany and the UK are the key markets for document outsourcing in Europe. However, market growth in this region will be slower than the growth of the market in APAC.
An increase in its adoption among the travel, hospitality, and retail industries and public sector organizations will facilitate the document outsourcing market in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What are the Revenue-generating Outsourcing Services Segments in the Document Outsourcing Market?
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The document outsourcing market share growth by the onsite contracted services segment will be significant during the forecast period. As companies are increasingly opting for business process automation and using data to extract useful information for decision-making, they are also looking for advanced onsite document management systems.
This report provides an accurate prediction of the contribution of all the segments to the growth of the document outsourcing market size and actionable market insights on post-COVID-19 impact on each segment.
Document Outsourcing Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 5.32%
Market growth 2021-2025
$ 15.42 billion
YoY growth (%)
North America, Europe, APAC, South America, and MEA
Performing market contribution
Europe at 39%
Key consumer countries
US, Germany, China, UK, and Japan
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Accenture Plc, Canon Inc., FUJIFILM Holdings Corp., HP Inc., Konica Minolta Inc., Lexmark International Inc., Ricoh Co. Ltd., Seiko Epson Corp., Toshiba Corp., and Xerox Corp.
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, Market condition analysis for forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this Document Outsourcing Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive document outsourcing market growth during the next five years
- Precise estimation of the document outsourcing market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the document outsourcing industry across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of document outsourcing market vendors
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1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis: Data processing and outsourced services
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by Outsourcing services
- 5.1 Market segments
- Exhibit 15: Outsourcing services - Market share 2020-2025 (%)
- 5.2 Comparison by Outsourcing services
- Exhibit 16: Comparison by Outsourcing services
- 5.3 Onsite contracted services - Market size and forecast 2020-2025
- Exhibit 17: Onsite contracted services - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Onsite contracted services - Year-over-year growth 2020-2025 (%)
- 5.4 Statement printing services - Market size and forecast 2020-2025
- Exhibit 19: Statement printing services - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Statement printing services - Year-over-year growth 2020-2025 (%)
- 5.5 DPO services - Market size and forecast 2020-2025
- Exhibit 21: DPO services - Market size and forecast 2020-2025 ($ million)
- Exhibit 22: DPO services - Year-over-year growth 2020-2025 (%)
- 5.6 Market opportunity by Outsourcing services
- Exhibit 23: Market opportunity by Outsourcing services
6 Customer landscape
- 6.1 Customer landscape
- Exhibit 24: Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 25: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 26: Geographic comparison
- 7.3 North America - Market size and forecast 2020-2025
- Exhibit 27: North America - Market size and forecast 2020-2025 ($ million)
- Exhibit 28: North America - Year-over-year growth 2020-2025 (%)
- 7.4 Europe - Market size and forecast 2020-2025
- Exhibit 29: Europe - Market size and forecast 2020-2025 ($ million)
- Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
- 7.5 APAC - Market size and forecast 2020-2025
- Exhibit 31: APAC - Market size and forecast 2020-2025 ($ million)
- Exhibit 32: APAC - Year-over-year growth 2020-2025 (%)
- 7.6 South America - Market size and forecast 2020-2025
- Exhibit 33: South America - Market size and forecast 2020-2025 ($ million)
- Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
- 7.7 MEA - Market size and forecast 2020-2025
- Exhibit 35: MEA - Market size and forecast 2020-2025 ($ million)
- Exhibit 36: MEA - Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 37: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 38: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- Exhibit 39: Impact of drivers and challenges
- 8.3 Market trends
9 Vendor Landscape
- 9.1 Overview
- Exhibit 40: Vendor landscape
- 9.2 Landscape disruption
- Exhibit 41: Landscape disruption
- Exhibit 42: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 43: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 44: Market positioning of vendors
- 10.3 Accenture Plc
- Exhibit 45: Accenture Plc - Overview
- Exhibit 46: Accenture Plc - Business segments
- Exhibit 47: Accenture Plc - Key news
- Exhibit 48: Accenture Plc - Key offerings
- Exhibit 49: Accenture Plc - Segment focus
- 10.4 Canon Inc.
- 10.5 FUJIFILM Holdings Corp.
- Exhibit 55: FUJIFILM Holdings Corp. - Overview
- Exhibit 56: FUJIFILM Holdings Corp. - Business segments
- Exhibit 57: FUJIFILM Holdings Corp. - Key news
- Exhibit 58: FUJIFILM Holdings Corp. - Key offerings
- Exhibit 59: FUJIFILM Holdings Corp. - Segment focus
- 10.6 HP Inc.
- Exhibit 60: HP Inc. - Overview
- Exhibit 61: HP Inc. - Business segments
- Exhibit 62: HP Inc. - Key news
- Exhibit 63: HP Inc. - Key offerings
- Exhibit 64: HP Inc. - Segment focus
- 10.7 Konica Minolta Inc.
- Exhibit 65: Konica Minolta Inc. - Overview
- Exhibit 66: Konica Minolta Inc. - Business segments
- Exhibit 67: Konica Minolta Inc. - Key offerings
- Exhibit 68: Konica Minolta Inc. - Segment focus
- 10.8 Lexmark International Inc.
- Exhibit 69: Lexmark International Inc. - Overview
- Exhibit 70: Lexmark International Inc. - Product and service
- Exhibit 71: Lexmark International Inc. - Key offerings
- 10.9 Ricoh Co. Ltd.
- Exhibit 72: Ricoh Co. Ltd. - Overview
- Exhibit 73: Ricoh Co. Ltd. - Business segments
- Exhibit 74: Ricoh Co. Ltd. - Key offerings
- Exhibit 75: Ricoh Co. Ltd. - Segment focus
- 10.10 Seiko Epson Corp.
- Exhibit 76: Seiko Epson Corp. - Overview
- Exhibit 77: Seiko Epson Corp. - Business segments
- Exhibit 78: Seiko Epson Corp. - Key news
- Exhibit 79: Seiko Epson Corp. - Key offerings
- Exhibit 80: Seiko Epson Corp. - Segment focus
- 10.11 Toshiba Corp.
- Exhibit 81: Toshiba Corp. - Overview
- Exhibit 82: Toshiba Corp. - Business segments
- Exhibit 83: Toshiba Corp. - Key news
- Exhibit 84: Toshiba Corp. - Key offerings
- Exhibit 85: Toshiba Corp. - Segment focus
- 10.12 Xerox Corp.
- Exhibit 86: Xerox Corp. - Overview
- Exhibit 87: Xerox Corp. - Business segments
- Exhibit 88: Xerox Corp. - Key news
- Exhibit 89: Xerox Corp. - Key offerings
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 90: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 91: Research Methodology
- Exhibit 92: Validation techniques employed for market sizing
- Exhibit 93: Information sources
- 11.4 List of abbreviations
- Exhibit 94: List of abbreviations
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.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- need for cost reduction, enhanced efficiency, and regulatory compliance
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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