Document Management Services Market: Datalogics, Inc.

Pune, India, May 25, 2021 (GLOBE NEWSWIRE) -- The global document management services market size is projected to reach USD 57.56 billion by 2027. Nowadays, numerous companies are gradually shifting towards paperless environments to control and manage their documents efficiently. These new services are capable of controlling the collaboration, centralization, deletion, distribution, authentication, retrieval, and storage of documents. Several companies are also introducing novel services to cater to the surging demand. This information is given by Fortune Business Insights™ in a report, titled, “Document Management Services Market, 2020-2027.” As per the report, the market stood at USD 34.21 billion in 2019. It is set to exhibit a CAGR of 6.9% during the forecast period.

Urgent Need to Deal with Surging Document Load to Boost Growth amid COVID-19 Pandemic

The International Data Corporation (IDC) stated that in 2020, the global IT and business outsourcing services market declined by 1.1% owing to the COVID-19 pandemic. Several investors have streamlined their businesses and have implemented the work from home policy to curb transmission of the coronavirus. But, cloud-based document management services are anticipated to exhibit high demand amid the pandemic on account of the increasing need to deal with heaps of documents in an organized way.

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Segments-

Medical Segment to Grow Steadily Backed by Ability to Reduce Healthcare Costs

By services, the market for document management services is divided into archiving and storage, imaging and scanning, printing, mailroom services and others (indexing, metadata, etc.). Based on the end-user, it is categorized into medical, financial, government, audit & consulting, corporate, telecommunication, and insurance & re-insurance. Out of these, the medical segment held 13.9% in terms of the document management services market share in 2019. This growth is attributable to the ever-increasing adoption of outsourced services in medical companies. They are helping to simplify compliance efforts, lower healthcare costs, enhance patient data securely, and surge clinical efficiency.

Report Coverage-

The Document Management Services Market research report contains an in-depth study of various regions in the document management services industry. It was curated by our team of highly skilled analysts after studying and observing numerous factors that determine regional growth, such as political, technological, social, economic, and environmental status of that particular region. The competitive landscape section was developed to help our clients better understand the collaborations and strategies that key document management service providers are focusing on to compete with their rivals globally.

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Drivers & Restraints-

Rising Need to Keep Track of Crucial Documents will Propel Demand Globally

The rapidly increasing volume of information across various sectors is making it inconvenient for people to streamline and maintain authentic data. Hence, numerous organizations are developing cloud-based document management services. In corporate offices, these solutions are helping employees and employers to store and track paper-based, as well as electronic archives. At the same time, these services also aid in keeping a track of significant documents, streamlining workforces, reducing costs, building solutions, and lowering risks. However, possibilities of identity theft and data breaches may hamper the document management services market growth in the near future.

Regional Insights-

Increasing Adoption of Core Technologies to Help North America Dominate

Geographically, North America earned USD 13.76 billion in 2019 in terms of revenue and is anticipated to retain its leading position throughout the forthcoming years. The increasing usage of core technologies would aid growth. Besides, the presence of multiple vendors providing document management services, such as Iron Mountain Inc. and Xerox Corporation in the region would drive growth. On the other hand, Asia Pacific is estimated to exhibit the highest CAGR in the near future stoked by the advancements of IT infrastructures and business processes, especially in China and India. The Middle East and Africa and Latin America are expected to showcase considerable growth because of the surging trend of big data and cloud.

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Competitive Landscape-

Key Companies Focus on Introducing Cutting-edge Products to Attract More Customers

The Document Management Services Market contains a wide range of big, small, and medium enterprises that are persistently striving to compete with their rivals. To do so, they are participating in the strategy of new document management service development and launch. This way, they are able to attract more customers. Below are the two latest industry developments:

May 2021: Datalogics, Inc. launched its new suite of cloud-based PDF processing products named Datalogics Cloud. It contains a unique API on Amazon Web Services and a free app on Zapier. The company aims to simplify workflows and document processing on-demand in the cloud.
April 2021: System Analytic introduced the new generation of Superfly End-2-End KOL/HCP management platform. It will be used to support the end-to-end-process, right from tax document management and budget management to payment cycle management and digital contracting.

A list of prominent providers of document management services operating in the global market:

Access (US)
Alfresco Software, Inc. (US)
Docu-Depot (Canada)
Exela Technologies Inc. (US)
Invensis Technologies Pvt Ltd (India)
Iron Mountain Incorporated (US)
Konica Minolta, Inc. (Japan)
KYOCERA Document Solutions Inc. (Japan)
Lexmark International, Inc. (US)
Oracle Corporation (US)
Prime Document Ltd (UK)
Ricoh Company, Ltd. (Japan)
Sumasoft (India)
Xerox Corporation (US)

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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.)
- 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
- Market Analysis, Insights and Forecast – By Country
  - The U.S.
  - Canada

TOC Continued…!

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