Yahoo Finance Document Management Services Market to Hit USD 57.56 Billion by 2027; Rapid Adoption of Cloud-based Technology amid COVID-19 to Surge Demand Exponentially, says Fortune Business Insights™
Companies Operating in the Document Management Services Market: Xerox Corporation (US), Oracle Corporation (US), Access (US), Docu-Depot (Canada), Prime Document Ltd (UK), Ricoh Company, Ltd. (Japan), Konica Minolta, Inc. (Japan), KYOCERA Document Solutions Inc. (Japan), Invensis Technologies Pvt Ltd (India), Iron Mountain Incorporated (US), Alfresco Software, Inc. (US), Sumasoft (India), Exela Technologies Inc. (US), Lexmark International, Inc. (US)
Pune, India, Oct. 25, 2021 (GLOBE NEWSWIRE) -- The global document management services market is likely to reach USD 57.56 billion by 2027 owing to rapid adoption of cloud-based technologies. Besides, the market will register a CAGR of 6.9% between 2020 and 2027 according to Fortune Business Insights, latest report, titled “Document Management Services Market Size, Share, Growth, Insights & COVID-19 IMPACT Analysis, By Services (Archiving and Storage, Imaging and Scanning, Printing, Mailroom Services and Others), By End-user (Medical, Financial, Government, Audit & Consulting, Corporate, Telecommunication, and Insurance & Re-insurance) and Regional Forecast, 2020-2027”
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Request Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/document-management-services-market-102848
List of the Companies Operating in the Document Management Services Market:
Xerox Corporation (US)
Oracle Corporation (US)
Access (US)
Docu-Depot (Canada)
Prime Document Ltd (UK)
Ricoh Company, Ltd. (Japan)
Konica Minolta, Inc. (Japan)
KYOCERA Document Solutions Inc. (Japan)
Invensis Technologies Pvt Ltd (India)
Iron Mountain Incorporated (US)
Alfresco Software, Inc. (US)
Sumasoft (India)
Exela Technologies Inc. (US)
Lexmark International, Inc. (US)
Document Management Services Market Share Report Scope and segmentation:
Report Coverage | Details |
Forecast Period | 2020 to 2027 |
Forecast Period 2020 to 2027 CAGR | 6.9% |
2027 Value Projection | USD 57.56 Billion |
Base Year | 2019 |
Market Size in 2019 | USD 34.21 Billion |
Historical Data for | 2016 to 2018 |
No. of Pages | 120 |
Segments covered | Services; End user and Region |
Growth Drivers | Adoption of Technology Such as Cloud-Based amid COVIID-19 to Spur Demand |
Presence of Major Companies in North America to Bolster Growth | |
| Information Security and Privacy Concerns Proving to be Inhibiting Factor for Document Management Services Market Growth |
Document management services are vital to organize all the important document and data in one place. In addition to this, these services efficiently keep a track on all the important documents, while speeding up the performance of an organization. Furthermore, it is accurate and provides access to the documents at any given time from any part of the globe. Today, there has been a paradigm shift towards digitalization that is propelling the companies to move beyond paper document and adopt electronic document management systems (EDMS). Moreover, the electronic system has automated the complete work process, thereby, saving time and effort.
Have Any Query? Speak To Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/document-management-services-market-102848
Regional Analysis:
Presence of Major Companies in North America to Bolster Growth
Geographically, the market comprises of several regions affecting the market growth during the forecast period. They are:
North America: The region held the largest share at USD 13.76 Billion in 2019 and is expected to dominate the market during the projected horizon. This is ascribable to factors such as presence of major companies such as Oracle Corporation and Access. Furthermore, rising adoption of the services by the end-user industries such as healthcare and BFSI is expected to propel North America to hold highest document management services market revenue between 2020 and 2027.
Asia-Pacific: The market in this region is likely to rise significantly during the forecast period. This is attributable to factors such as improved IT infrastructures in countries such as China, and India. Furthermore, advancement in business process services in Asia-Pacific will positively affect the market growth in the forthcoming years.
Europe: On the other hand, Europe is anticipated to register augmented growth owing to adoption of strategies such as collaboration by the companies to expand their business during the forecast period.
Drivers and Restraints:
Adoption of Technology Such as Cloud-Based amid COVIID-19 to Spur Demand
Technological advancement has led to emergence of efficient and reliable services such as cloud-based management. Additionally, cloud-based applications provide a seamless user experience and provides high-level flexibility to manage work for the organizations across the globe. The global pandemic, COVID-19 has gripped the whole world with widespread effects over several economies. Several governments around the world have called for lockdown to contain the disease and majority of people are working remotely. This has surged the demand for cloud-based services manifold in this testing times. Major companies are adopting the services that are robust and reliable to keep continuing the operational activities of their businesses. For instance, in May 2020, King & Wood Mallesons, a global international law firm, announced its adoption of iManage Cloud for its offices in Europe, Middle East, and United States. Darren Brown, IT Head of the company, said on the sidelines of the development, “Our firm is a strong believer of the future belonging to cloud, and are impressed with iManage cloud’s tremendous impact on our productivity, significant reduction in operational overheads, and its ability to access remotely.”
Ask For Customization: https://www.fortunebusinessinsights.com/enquiry/customization/document-management-services-market-102848
What does the Report Include?
The Document Management Services Market report includes an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations that are contributing to the growth of the market between 2019 and 2026. Furthermore, the competitive landscape has been discussed in-depth that include information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the market has been included during the projected horizon.
Competitive Landscape:
Merger and Acquisition by the Companies to Stoke Demand
According to the report, there are several companies operating in the market striving to gain major market share and outshine their rivals in the competitive marketplace. They are doing so by adopting strategies such as merger and acquisition, collaboration, and joint ventures, among others and maintain market stronghold in the forthcoming years. For instance, in April 2018, Exela Technologies Inc., a U.S.-based automation provider, announced its acquisition of the German-based document management company, Asterion International Group. This acquisition is expected to expand the company’s operation and product offering across Europe. Furthermore, it will enable access to Asterion’s consumers to Exela’s document management solutions.
Quick Buy - Document Management Services Market: https://www.fortunebusinessinsights.com/checkout-page/102848
Table Of Content:
Introduction
Definition, By Segment
Research Approach
Sources
Executive Summary
Market Dynamics
Drivers, Restraints and Opportunities
Emerging Trends
Key Insights
Macro and Micro Economic Indicators
Consolidated SWOT Analysis of Key Players
COVID-19 Impact Analysis
Global Document Management Services Market Analysis, Insights and Forecast, 2016-2027
Key Findings / Summary
Market Sizing Estimations and Forecasts – By Services
Archiving and Storage
Imaging and Scanning
Printing
Mailroom Services
Others (Indexing, Metadata etc.)
Document Management Services Market Size Estimates and Forecasts – By End-user
Medical
Financial
Government
Audit & Consulting
Corporate
Telecommunication
Insurance & Re-insurance
Market Analysis, Insights and Forecast – By Region
North America
Europe
Asia-Pacific (APAC)
Middle East & Africa (MEA)
Latin America (LATAM)
North America Document Management Services Market Analysis, Insights and Forecast, 2016-2027
Key Findings / Summary
Market Sizing Estimations and Forecasts – By Services
Archiving and Storage
Imaging and Scanning
Printing
Mailroom Services
Others (Indexing, Metadata etc.)
Market Size Estimates and Forecasts – By End-user
Medical
Financial
Government
Audit & Consulting
Corporate
Telecommunication
Insurance & Re-insurance
Document Management Services Market Analysis, Insights and Forecast – By Country
The U.S.
Canada
Have a Look at Related Research Insights:
Email Marketing Software Market Size, Share and Industry Analysis, By Channel (Business-to-Business (B2B) and Business-to-Customers (B2C)), Deployment (On-Premise and Cloud), By Enterprise Size (Large Enterprises, Small & Medium Enterprises), By Application (Email Lead Generation, Sales Reporting, Customer Management), By Industry (Banking, Finance, Security and Insurance (BFSI), IT and Telecommunications) and Regional Forecast, 2020-2027
Mobile Security Market Size, Share and Industry Analysis, By Component (Solutions and Services), By Operating System (iOS and MacOS, Android, Windows, and Others), By Vertical (BFSI, IT & Telecom, Healthcare, Manufacturing, Retail, Education, Government, Others), and Regional Forecast, 2020-2027
Linux Operating System Market Size, Share & Covid-19 Impact Analysis, By Distribution (Virtual Machines, Servers and Desktops), By End-use (Commercial/Enterprise and Individual), and Regional Forecast, 2020-2027
Web Conferencing Market Size, Share & COVID-19 Impact Analysis, By Component (Solution and Services), By Deployment (Hosted Web Conferencing, On-Premises Web Conferencing, Managed Web Conferencing and Software-as-a-Service (SaaS)), By End-use (Education, Government, Healthcare, IT and Telecommunication, BFSI, Manufacturing, Media & Entertainment, and Others), and Regional Forecast, 2020-2027
Risk Analytics Market Size, Share and Covid-19 Impact Analysis, By Component (Software, Services), By Risk Type Application (Financial Risk, Operational Risk, Compliance Risk, Strategic Risks), By Deployment (Cloud, On-Premise), By Enterprise Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises) By Industry (Banking, Financial Services and Insurance (BFSI), IT and Telecommunications, Healthcare) and Regional Forecast, 2020-2027
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
LinkedIn: https://www.linkedin.com/company/fortune-business-insights
Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd
Twitter: https://twitter.com/FBInsightPvtLtd
Press Release: https://www.fortunebusinessinsights.com/press-release/document-management-services-market-9977
