Market Overview:
The global document storage and management services market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The market growth is attributed to the increasing demand for online document storage and management services, rising need for data security and compliance, and growing trend of paperless office. In addition, the increasing adoption of cloud-based solutions is also contributing to the growth of this market. However, lack of awareness about benefits offered by these services is restraining the growth of this market. On the basis of type, the global document storage and management services market can be segmented into electronic records and paper records. The electronic records segment accounted for a larger share in 2017 owing to its advantages such as easy retrieval, searchability, long-term preservation, etc., over paper documents.
Product Definition:
Document Storage and Management Services (DSMS) is the process of managing and organizing documents in an electronic format. The purpose of DSMS is to improve efficiency by eliminating the need to search through physical folders for specific documents. DSMS can also help reduce the risk of data loss or corruption, as well as improve security by restricting access to authorized personnel.
Electronic Records:
Electronic records are the digital information generated and stored by electronic devices. They can be either analog or digital in nature. The most common forms of electronic records include emails, text messages, instant messages, social media posts, blogs and web pages among others. Electronic Records have become an important aspect for organizations as they enable them to store data in a systematic and efficient manner that is easily accessible when needed.
Paper Records:
Paper records are used by document storage and management services providers for storing information on paper. It is the most common method of archiving information. The process of using paper records involves scanning the documents, which are then stored digitally on a hard drive or in an electronic format.
Application Insights:
The online application segment dominated the global document storage and management services market in 2017. The growth of e-commerce has led to an increase in the number of paper files generated daily. This trend is likely to continue over the next few years, which will result in a significant demand for document storage and management services from online businesses.
Online retailers are particularly susceptible to risks associated with data loss or destruction due to natural disasters such as floods, fire or theft that may cause extensive damage to business operations leading them towards a situation where they have no choice but look for professional help regarding their records retention policies.
Retailers are expected to be one of the prominent end users of these services owing to increasing concerns about data security breaches at retail companies including Target Corporation, Neiman Marcus Group Inc., Michaels Stores Inc., Walgreens Boots Alliance LLC.
Regional Analysis:
North America dominated the global market in 2017. The growth of the region can be attributed to factors such as increasing government initiatives and regulations, high awareness among people for maintaining records, and availability of advanced technology. For instance, in February 2014, the National Archives & Records Administration (NARA) introduced a new online service called NARA’s Digital Archive that includes more than 130 million pages of textual records from over 30 collections held by NARA. This initiative is expected to increase access to archival information thereby boosting market growth in North America over the forecast period.
Asia Pacific is anticipated to witness significant growth during the forecast period owing to increasing digitization efforts across various sectors including healthcare and legal among others. In addition, growing penetration of cloud services has led governments across countries such as India and China implement policies regarding data protection which will further boost demand for document management solutions thereby driving regional market growth over next eight years till 2030 time-frame).
Growth Factors:
- Increasing demand for data storage and management services from small and medium businesses (SMBs) due to the proliferation of data-driven applications and services.
- Rapid growth in unstructured data, which is expected to drive the need for document storage and management solutions over the next few years.
- Proliferation of Bring Your Own Device (BYOD) policies in organizations, which is resulting in an increase in the number of mobile devices being used for work purposes. This is driving the demand for cloud-based document storage and management solutions that can be accessed from anywhere at any time.
- The increasing trend of outsourcing IT functions by organizations, as they look to reduce costs and focus on their core business activities. This is providing a boost to the market for document storage and management services providers who can offer cost-effective solutions with high levels of scalability and flexibility .
Scope Of The Report
Report Attributes
Report Details
Report Title
Document Storage and Management Services Market Research Report
By Type
Electronic Records, Paper Records
By Application
Online, Retailing
By Companies
IBM, Dell Technologies, Microsoft, Crown Records Management, Alibaba Cloud, Xerox Corporation, KYOCERA, Oracle, AGS Records Management(AGS Group), Iron Mountain
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global Document Storage and Management Services Market Report Segments:
The global Document Storage and Management Services market is segmented on the basis of:
Types
Electronic Records, Paper Records
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Online, Retailing
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- IBM
- Dell Technologies
- Microsoft
- Crown Records Management
- Alibaba Cloud
- Xerox Corporation
- KYOCERA
- Oracle
- AGS Records Management(AGS Group)
- Iron Mountain
Highlights of The Document Storage and Management Services Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Electronic Records
- Paper Records
- By Application:
- Online
- Retailing
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Document Storage and Management Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Document storage and management services are a type of cloud-based service that helps businesses manage, store, and access their documents. These services can help businesses keep track of their document files, make it easy to share documents with other employees, and automate the process of filing and retrieving documents.
Some of the major companies in the document storage and management services market are IBM, Dell Technologies, Microsoft, Crown Records Management, Alibaba Cloud, Xerox Corporation, KYOCERA, Oracle, AGS Records Management(AGS Group), Iron Mountain.
The document storage and management services market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Document Storage and Management Services Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Document Storage and Management Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Document Storage and Management Services Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Document Storage and Management Services Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Document Storage and Management Services Market Size & Forecast, 2020-2028
4.5.1 Document Storage and Management Services Market Size and Y-o-Y Growth
4.5.2 Document Storage and Management Services Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Electronic Records
5.2.2 Paper Records
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Online
6.2.2 Retailing
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Document Storage and Management Services Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Document Storage and Management Services Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Electronic Records
9.6.2 Paper Records
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Online
9.10.2 Retailing
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Electronic Records
10.6.2 Paper Records
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Online
10.10.2 Retailing
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Electronic Records
11.6.2 Paper Records
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Online
11.10.2 Retailing
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Electronic Records
12.6.2 Paper Records
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Online
12.10.2 Retailing
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Electronic Records
13.6.2 Paper Records
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Online
13.10.2 Retailing
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Document Storage and Management Services Market: Competitive Dashboard
14.2 Global Document Storage and Management Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 IBM
14.3.2 Dell Technologies
14.3.3 Microsoft
14.3.4 Crown Records Management
14.3.5 Alibaba Cloud
14.3.6 Xerox Corporation
14.3.7 KYOCERA
14.3.8 Oracle
14.3.9 AGS Records Management(AGS Group)
14.3.10 Iron Mountain
