(Norwell, MA) February 15, 2002 - In a recently completed CAP Ventures forecast, analysts predict a robust document outsourcing market, projecting a compound annual growth of 12%. This will grow the U.S. document outsourcing market from $27.8 billion in 2000 to just over $50 billion in 2005.
“Document outsourcing is a rapidly growing market opportunity for service providers of all types,” commented Holly Muscolino, an Associate Director at CAP Ventures. “The continued migration to digital processes, corporate efforts to reduce the number of suppliers, and increasing awareness of the need to more effectively manage internal document services are driving this growth.”
CAP Ventures' Document Outsourcing Market Forecast is designed to be used as a strategic planning tool by digital document service providers wishing to identify market trends and opportunities, market size, the competitive landscape, and the range of services being offered as they embark upon strategic business planning.
The forecast captures growth projections for the document outsourcing market by customer environment, industries served, and services provided. The forecast segments the industry into three environments: facilities management, statement printing, and contracted print services. In addition to the market forecast, the report includes in-depth profiles of twenty industry leaders and case studies of successful implementations. It also investigates pertinent document outsourcing topics such as vertical market opportunities, personalization, and e-business.
Within the overall market, facilities management will grow from just over $6 billion in 2000 to almost $13 billion by 2005. Facilities management (FM) is the assignment of specific business functions, sometimes by sale of physical assets such as printers or copiers and the transfer of employees, to a business specializing in those functions or one that offers the service as a complement to other offerings.
The statement printing segment will grow from $2.5 billion in 2000 to just over $4 billion in 2005. Statement printing is the design, production, printing, mailing, and database management associated with bills, statements, and other financial documents. These transaction documents are used to notify, invoice, and summarize activities that occur in the organization and have been captured by the accounting system.
The contracted print services segment refers to long-term contractual relationships, which often last at least five years. Print service providers strive to develop deeper, broader relationships with their customers through these contractual arrangements. The printer’s goal is to increase its value for print service buyers. Contract print services revenues will grow from over $19 billion in 2000 to almost $33 billion in 2005.
For more information on the Document Outsourcing Market Forecast or CAP Ventures' services, please contact Stewart MacDonald at 781-871-9000, ext. 175 or via e-mail at [email protected]