Technology
Data-Entry Outsourcing Services Market size to reduce by USD 504.12 Bn | Increasing need for cost-effective solutions to drive growth| Technavio

Data-Entry Outsourcing Services Market size to reduce by USD 504.12 Bn | Increasing need for cost-effective solutions to drive growth| Technavio

NEW YORK, Jan. 31, 2022 /PRNewswire/ — Data-Entry Outsourcing Services Market Facts at a Glance-

  • Total Pages: 120
  • Companies: 10+ – Including Acelerartech, Acquire BPO Pty Ltd, Arcgate, ARDEM Inc., Cogneesol BPO Pvt. Ltd., CyberData India, DataMondial, Inspur Worldwide Services Ltd., Invensis Technologies Pvt Ltd., and Keyoung Information Ltd. among others.
  • Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
  • Segments: End-user (BFSI, IT and telecom, manufacturing, healthcare, and others)
  • Geographies: APAC, North America, South America, Europe, and MEA

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According to the recent market study by Technavio, the Data-entry outsourcing services Market Size is expected to decrease by USD 504.12 million from 2020 to 2025. Also, the growth momentum is expected to decelerate at a CAGR of 5.95% during the forecast period. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

APAC will register the highest growth, occupying about 46% of the global market share. India, China, and the Philippines are the key markets for data-entry outsourcing services in APAC. The market growth in APAC will be slower than the growth of the market in South America and MEA.

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Vendor Insights-

The data-entry outsourcing services market is moderately fragmented due to the presence of several major data-entry outsourcing service providers leading the marketplace. Vendors are focusing on launching innovative products and M&As to remain competitive in the market.

Acelerartech: The company offers online data entry, eBook data entry, insurance claims outsourcing, and others under data entry outsourcing services.

Acquire BPO Pty Ltd: The company offers data cleansing, HR admin and payroll, data entry, and others under back-office services.

Arcgate: The company offers quality, cost-effective solutions ideally suited to high volume applications such as forms processing, keying from images, data enrichment from the web, electronic publication, and more under data entry services.

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Regional Market Outlook

The data-entry outsourcing services market growth in APAC will be significant during the forecast period. The market in APAC is driven by the political and financial stability of countries in the region. The market will witness the fastest growth in South America. Factors such as the proximity of Latin American countries to the US and Canada and the growing demand for nearshore services from the North American countries are creating significant growth opportunities in South America.

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Drivers & Trends Driving the Market-

  • Data-Entry Outsourcing Services Market Driver:
    • Increasing need for cost-effective solutions to improve efficiency:

Data entry outsourcing services help organizations cut operational costs as well as turnaround times. This allows them to achieve cost-effectiveness and enhance operational efficiency. Outsourcing data entry services reduce the need for hiring a process executive and almost eliminates the need to install data processing technology and devices such as computers, which reduces the costs incurred on labor and operation. Many such benefits are increasing the demand for data-entry outsourcing services, which is driving the growth of the market.

  • Data-Entry Outsourcing Services Market Challenge:
    • Challenges related to data safety and security:

Data-entry outsourcing services include outsourcing of various operations including recruitment, accounts and finance, and payroll processing. Hence, there is a greater risk of confidential data becoming exposed to a third party. Major data-entry outsourcing destinations such as India and the Philippines are being criticized for their poor and substandard IT capabilities and lax policies on cybersecurity. Also, the increasing incidences of cybersecurity threats in these countries is posing a serious data security challenge for vendors in the market.

Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.

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Payroll Outsourcing Services Market by Product, Application, and Geography – Forecast and Analysis 2021-2025

Data-entry Outsourcing Services Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 5.95%

Market growth 2021-2025

USD 504.12 million (Decremental)

Market structure

Fragmented

YoY growth (%)

6.71

Regional analysis

APAC, North America, South America, Europe, and MEA

Performing market contribution

APAC at 46%

Key consumer countries

India, Mexico, China, The Philippines, and Brazil

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Acelerartech, Acquire BPO Pty Ltd, Arcgate, ARDEM Inc., Cogneesol BPO Pvt. Ltd., CyberData India, DataMondial, Inspur Worldwide Services Ltd., Invensis Technologies Pvt Ltd., and Keyoung Information Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: [email protected]

Website: www.technavio.com/

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SOURCE Technavio

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