DPO Services, the Fastest-growing Segment in 2015 for the Global Document Outsourcing Market, to Post a CAGR of Close to 11% Until 2020, Predicts Technavio

LONDON--()--According to the latest market study released by Technavio, the global document outsourcing market is expected to grow at a CAGR of 5.5% during the forecast period.

This research report titled ‘Global Document Outsourcing Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

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Based on outsourcing services, the global document outsourcing market is segmented into the following:

  • Onsite contracted services
  • Statement printing services
  • DPO services

Onsite contracted services: largest segment

Service providers offer onsite contracted services to help clients manage document management solutions installed in their information and communications technology (ICT) infrastructure. Service providers evaluate their clients' IT architecture and then implement document management solutions depending on the type of industry verticals, the size of the business, and competitive factors. To market onsite contracted services, document outsourcing providers are broadening their portfolio of service offerings. As companies increasingly depend on business process automation and use data to extract useful information for decision making, the importance of existing contracts is declining.

According to Amit Sharma, a lead analyst at Technavio for IT professional services, “The rise in demand for services that offer multi-channel communications and support a mobile knowledge workforce has challenged companies due to the lack of adequate technology, talent, and time to adopt and manage these systems. Therefore, forward-thinking document outsourcing providers are trying to persuade customers to adopt a more effective communication platform by increasing their offerings based on the latest technologies.”

Statement printing service: second-largest segment

Many organizations, especially SMEs, are now focusing on the need to provide not only an enhanced customer experience to secure customer loyalty but also to gain a competitive edge over large multinational companies (MNCs). In some document-intensive industries such as energy, insurance, and financial services, customers expect ease in the transactional delivery of documents and support for a digital mailbox, less paper-based processing, and other electronic document services. All these have encouraged banks and companies to outsource such services.

“Statement printing services help organizations send documents such as newsletters and brochures for direct marketing to increase customer base. Statement printing services documents are now becoming multi-channel. With the emergence of the latest document creation technologies and document workflows, customer documents can be integrated online for an enhanced and consistent customer experience. Transactional document production is expected to generate new business opportunities in the years to come,” says Amit.

Document process outsourcing (DPO) services: third-largest segment

Many organizations, primarily in the Americas, aggressively outsource their multi-functional printing (MFP) and document capture and enterprise document management solutions. Some countries such as Japan, India, China, the UK, the US, and Australia, have seen the adoption of digital services to strengthen and automate the documentation process. This creates an opportunity for established as well as emerging vendors to enter the printing, documentation, and archival storage services segments of the market to provide more integrated solutions.

Organizations are changing their ICT infrastructure to implement next-generation IT solutions such as Internet of Things (IoT) and analytics. The change in technology at a rapid pace has created the need to integrate workflow and streamline business processes in organizations. Consequently, vendors in the market have expanded their outsourcing services in the field of document process management solutions. Organizations of different sizes have different requirements to manage their digital documents. Purchasing a solution also depends on the IT budget of enterprises. Firms that are not willing to invest in on-premise software solutions, and businesses with small IT budget, opt for DPO solutions. Leading vendors in the document outsourcing market include Xerox, HP, and Canon that invest continuously in innovative IT outsourcing solutions for document management solutions.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Canon
  • HP
  • Lexmark International
  • Ricoh
  • Xerox

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global document outsourcing market is expected to grow at a CAGR of 5.5% during the forecast period.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com