Increasing usage of document scanning and photocopying services among small and large business enterprises boosting revenue growth of the global service bureau market
Valley Cottage, NY -- (SBWIRE) -- 10/29/2018 -- Future Market Insights presents an in-depth forecast of the global service bureau market in a new publication titled 'Service Bureau Market: Global Industry Analysis (2012–2016) and Opportunity Assessment (2017-2027).' Through this publication, Future Market Insights presents a comprehensive analysis of the global service bureau market for a 10 year assessment period from 2017 to 2027. Future Market Insights forecasts revenue from the global service bureau market to increase from US$ 50,690.6 Mn in 2017 to US$ 97,042.4 Mn by 2027 end, representing a CAGR of 6.7% in terms of value from 2017 to 2027. This increasing revenue growth can be attributed to continuous launch of new services in the global market.
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Global Service Bureau Market: Dynamics
Revenue boosting factors
Diverse business problems necessitating the deployment of service bureaus
Increasing trend of outsourcing services
Ensuring data safety from disasters
Market growth restraints
Increasing amount of paper based business data
Errors in indexing thereby complicating document retrieval
Emergence of cloud computing
Key market trends
Changing business priorities and dynamics
Differentiating Strategies of Key Players
New innovations in products is expected to remain as the main strategy for key players in this market to increase their sales growth
Long-term contracts with business partners helps increase business revenue and new innovation strategy enabling service bureau solution vendors to reach new potential customers in emerging markets
Future Market Insights Recommendations
Evaluation of managed service concepts is helping users focus on their business rather than focussing on document storage and safety
Increasing service bureau concept in various developing countries is creating opportunities for scanning and printing hardware providers for maintaining an effective value chain
Service bureaus can focus on expanding their businesses across countries such as India and Australia, where the governments are offering investment opportunities and where setting up business is less costly
Service bureau services are expected to witness substantially high demand due to the presence of large corporations that are working to gain opportunities to enter in the competitive market
Global Service Bureau Market: Segmentation & Forecast
The global service bureau market is segmented on the basis of Services into Document Scanning, Photocopying, Others (Printing & Fax); on the basis of End User into Government, Education, BFSI, Healthcare, Law Firms, Others (Retail & Telecommunication); and on the basis of Region into North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, MEA.
By Services, the Document Scanning segment is expected to dominate the global service bureau market over the forecast period, estimated to be valued at about US$ 19 Bn by the end of 2017.
On the basis of End User, the Government segment is projected to be the most attractive in the global service bureau market during the forecast period, registering a CAGR of 5.6% during the forecast period. The BFSI segment is expected to register high Y-o-Y growth rates throughout the forecast period and is expected to expand at a CAGR of 6% in terms of value during the forecast period.
Among the Regional markets, North America is expected to dominate the global service bureau market, with an estimated market revenue to the tune of about US$ 15 Bn by the end of 2017. The market in North America is anticipated to exhibit high market attractiveness index over the forecast period.
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Global Service Bureau Market: Vendor Landscape
The report features company profiles of some of the key players operating in the global service bureau market such as Iron Mountain Incorporated, Hyland Software, Inc., Rhenus Office Systems GmbH, Kofax, Inc., OSG Record Management, Infofort, and zLibro, Inc.