Top Key Players:- Xerox Corporation, Oracle Corporation, Access, Prime Document Ltd, Ricoh Company, Ltd., Konica Minolta, Inc., Invensis Technologies Pvt Ltd, Alfresco Software, Inc., Sumasoft, Exela Technologies Inc.
Pune, India -- (SBWIRE) -- 11/06/2020 -- 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 & 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".
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List of Key Players for document management services market
- Xerox Corporation
- Oracle Corporation
- Prime Document Ltd
- Ricoh Company, Ltd.
- Konica Minolta, Inc.
- KYOCERA Document Solutions Inc.
- Invensis Technologies Pvt Ltd
- Iron Mountain Incorporated
- Alfresco Software, Inc.
- Exela Technologies Inc.
- Lexmark International, Inc.
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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.
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Major Segments for document management services market
- By Services
Archiving and storage
Imaging and scanning
Others (Indexing, Digitization etc.)
- By End-user
Audit & Consulting
Insurance & Re-insurance
- By Region
North America (the U.S., and Canada)
Europe (the U.K., Germany, France, Italy, Spain, Rest of Europe)
Asia Pacific (China, Japan, India, Southeast Asia, and the Rest of Asia Pacific)
The Middle East & Africa (South Africa, GCC, and the Rest of the Middle East & Africa)
Latin America (Brazil, Mexico, and the Rest of Latin America)
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.
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Regional Analysis Document management services market:
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: Document management services market 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.
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Name: Ashwin Arora
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