Explosive Growth: U.S. Service Bureau Market Poised to Reach US$ 16 Billion by 2027 with a Remarkable CAGR of 6.7% | FMI

Service Bureau Market

According to Future Market Insights, revenue from the global service bureau market will expand from US$ 50,690.6 Million in 2017 to US$ 97,042.4 Million by 2027 end, reflecting a 6.7% CAGR in terms of value from 2017 to 2027. This rising revenue increase might be attributable to the ongoing introduction of novel services into the global market.

Future Market Insights has released a new report named ‘Service Bureau Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027).’ Future Market Insights gives a detailed analysis of the worldwide service bureau market for the 10-year period from 2017 to 2027 in this book.

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North America to lead the global service bureau market in terms of value share

Of all the regional service bureau markets, North America is anticipated to be the largest, with an estimated market revenue to the tune of about US$ 33 Bn by the end of the forecast period in 2027. The North America service bureau market is estimated to witness a CAGR of 8.0% in terms of value during the forecast period. The increasing digitalization of documents across North America is the main factor driving regional market revenue growth.

Western Europe is the second largest market with market revenue projected at around US$ 16 Bn by the end of 2027. The APEJ service bureau market stands at third place with an estimated revenue of about US$ 13 Bn by 2027 end. APEJ is a major market for service bureaus owing to the rapid adoption of such solutions for business automation processes across the region.

Differentiating Strategies of Key Players

  • New innovations in products are expected to remain the main strategy for key players in this market to increase their sales growth
  • Long-term contracts with business partners help 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 focusing 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 a 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 the competitive market

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Global Service Bureau Market: Segmentation & Forecast

The global service bureau market is segmented on the basis of Services into Document Scanning, Photocopying, and Others (Printing & Fax); on the basis of End Users 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 Users, 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 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.

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
  • Rhenus Office Systems GmbH
  • Kofax
  • OSG Record Management

Market Taxonomy

By Services:

  • Document Scanning
  • Photocopying
  • Others (Printing & Fax)

By End User:

  • Government
  • Education
  • BFSI
  • Healthcare
  • Law Firms
  • Others (Retail & Telecommunication)

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • MEA

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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