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Prominent market research company Future Market Insights infers that the global document outsourcing services market shall expand at a CAGR of 3% between 2020 and 2030.
The COVID-19 outbreak has compelled business organizations to institute remote working arrangements, requiring remote communication, preparation of paperless documents, tax filings and payroll processes. All these procedures have compelled companies to shift to virtual platforms, resulting in an uptake of document outsourcing services.
Besides the pandemic, a general requirement to streamline business operations has prompted small, medium and large scale corporations to invest a major chunk of their revenue in document outsourcing services. All these factors are acting as growth catalysts for the market during the forecast period.
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Key Takeaways from FMI’s Document Outsourcing Services Market:
Document Outsourcing Services Market: Key Trends
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Document Outsourcing Services Market: Region-wise Analysis
Document Outsourcing Activities Market: Competitive Analysis
The document outsourcing activities market is composed of a handful of players, which include: Symcor, Hewlett-Packard Co., Max BPO, Lexmark International, Inc., Ricoh Co. Ltd., Fuji Xerox Co., Ltd. and Iron Mountain Incorporated.
The abovementioned market players concentrate on developing and launching new solutions. This is primarily driven by the BFSI industry. Besides, they are also forging partnerships with cloud service providers in the wake of the pandemic crisis to offer remote working solutions. For example, Indigenous Link and Symcor are jointly providing to monitor, track and calibrate document management process in real-time across Canada while collecting data of the indigenous population.
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Document Outsourcing Services Market Taxonomy:
3.1. Key Trends Impacting the Market
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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The post The market for document outsourcing services is predicted to be worth roughly US$ 5.25 billion in 2022 and to rise at a CAGR of 6.3% to US$ 11.74 billion by the end of 2030 appeared first on Future Market Insights.
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