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Global Service Bureau Market to Grow at 6.7% CAGR through 2027

Press release Description

Albany, New York, January 25, 2018: A new insightful study based on service bureau titled “Service Bureau Market: North America Projected to be the Most Attractive Regional Market Through 2027: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027)” has recently been added into the database of Market Research Reports Search Engine (MRRSE). The report offers concrete and unbiased insights on the key factors impacting the growth of the service bureau market during the assessment period.

According to the report, the global service bureau market is projected to grow at a CAGR of 6.7% during the assessment period and reach a valuation of over US$ 97 Bn by the end of forecast period. The growth of the market can be attributed to several factors, chief among them being the growth in outsourcing services. Businesses are focusing on protecting data from disasters, which has also been a key driving factor for the growth of the market. The key factors restraining the growth of the market include competitive bidding and large number of errors in indexing complicating document retrieval. Although these challenges can stymie market growth during the assessment period, growth in cloud computing, combined with increasing digitalization are likely to bring in a spate of opportunities for the market.

The report offers a detailed market segmentation, giving readers complete insights on the basis of services, end user, and region. By services, the document scanning segment is likely to remain the largest segment, and dominate global revenues throughout the forecast period. By end-user, adoption of service bureau services is projected to remain robust in government offices. In addition to government offices, adoption is also likely to increase in the BFSI segment. This segment is projected to grow at a CAGR of 6% through 2026.

North America is projected to be the largest market for service bureau market globally. The North America market was valued at nearly US$ 15 Bn in 2017, and is likely to grow at a steady pace during the assessment period. The North America service bureau market is dominated by the US, whereas Canada accounts for a miniscule percentage of the market.

While the study also focuses on analyzing competition landscape, it profiles some of the key players operating in the global service bureau market. The companies have profiled in terms of company overview, company financials, recent developments and strategy. Some of these major companies are Iron Mountain Incorporated, Rhenus Office Systems GmbH, OSG Record Management, zLibro, Inc., Hyland Software, Inc., Infofort and Kofax, Inc.

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