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 U.S.
Imaging and Document Management Outsourcing Market to Grow Nearly 20% by
2007, Says IDC
FRAMINGHAM, Mass. - (BUSINESS WIRE) - March 1, 2004 - According to a
new groundbreaking multi-disciplinary study conducted by IDC, the U.S.
imaging and document management outsourcing ecosystem is poised to
experience strong growth over the next five years. While certain segments of
this market are more mature, the coalescence of advancements in imaging,
document management, and services is creating new opportunities, which bodes
well for the providers of these services. IT services and hardcopy document
imaging vendors are reinventing their service offerings to address growing
imaging and document management needs. In 2003, companies spent nearly $13
billion on imaging and document management activities. Although only a small
proportion of companies are currently outsourcing these activities, IDC
forecasts that spending on imaging and document management outsourcing will
experience a 19.7% compound annual growth rate (CAGR) through 2007.
"Growth in this market is being fueled by the rapid adoption of imaging,
document, and content technologies overall, user demand for easy access to
documents, as well as the evolving need for imaging and document management
within particular vertical segments," said Ron Glaz, director of IDC's
digital imaging solutions and services. "In fact, survey participants
indicated that the most important factors in choosing an imaging and
document management outsourcing vendor is their track record and specific
vertical industry expertise."
Key findings from the IDC study reveal many unique characteristics of the
finance, insurance, healthcare and manufacturing vertical industry markets.
For the healthcare vertical, forms or documents will remain an important
part of the document workflow for the foreseeable future. Companies in the
insurance and manufacturing verticals are most interested in decentralized
scanning. Furthermore, IDC believes the finance, insurance and healthcare
industries represent the best target markets for services aimed at paper to
digital conversion.
IDC's Imaging and Document Management: Identifying Opportunities in the
Document Outsourcing, Software, and Services Ecosystem study presents
findings from IDC's U.S. Paper to Electronic Document Processes Survey,
which evaluated the needs of medium- and large-sized companies regarding
imaging and document management across the document life-cycle. The study
delves into the methods U.S. businesses use to convert content contained
within paper documents to a digital format. An in-depth assessment of the
distinct characteristics and challenges within four vertical industry
markets, including finance, insurance, manufacturing and healthcare, is
provided. Also included is a market sizing and five-year forecast of the
imaging and document management outsourcing market.
For more information, or to purchase this study, call IDC's sales hotline
at 508-988-7988 or email sales@idc.com.
About IDC
IDC is the premier global market intelligence and advisory firm in the
information technology and telecommunications industries. We analyze and
predict technology trends so that our clients can make strategic, fact-based
decisions on IT purchases and business strategy. Over 700 IDC analysts in 50
countries provide local expertise and insights on technology markets.
Business executives and IT managers have relied for 40 years on our advice
to make decisions that contribute to the success of their organizations.
IDC is a subsidiary of IDG, the world's leading technology media,
research, and events company. Additional information can be found at
www.idc.com
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of their respective holders. |
