Global Information & Record Management Services Market was Valued at US$ 147,090.27 Mn in 2018 and is Expected to Grow at a CAGR of 5.5% Over the Forecast Period, Says Absolute Markets Insights
PUNE, India, Feb. 26, 2020 /PRNewswire/ -- Information being a fundamental resource for organizations, managing them is both a key activity and an important overhead expense. Organizations in order to cut this expense of recording and maintaining the huge amount of data are outsourcing the whole record management process to service providers. However, digitalization being one of the major trends in all sectors, various methods have been adopted to change the traditional approach of work within an organization. Digitalized record of all information and data helps organizations to have access to all relevant information assets at all time making it easier in the normal flow of the organization's business. For instance, RM Results with the help of document management services offered by EDM Group is managing millions of digital examination papers it receives from 160 countries. This is enabling the company to meet stringent examination board regulations and thereby minimizing its overall cost and risk. Therefore owing to the digitalized document management services the overall information & record management services market is gaining demand.
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Information stored digitally are saved on a cloud platform where both the service providers and the organizations' employees have access to. This enables the employee to record and alter all documents as per the changing requirements of business. Digital document management service providers also offer active management and life-cycle management, thereby taking care of all these documents starting from recording the same to discarding the documents after its specified life span. For instance, crown records management offers document management services for both digital management and hard-copy document management. All hard copy documents are also stored in their electronic form to avoid any loss for the company. They also give their clients full control on the documents that they are preserving through a web based solution which enables them to alter any document as per business needs. This growing demand for digital storage is influencing the growth of the information & record management services market.
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The detailed research study provides qualitative and quantitative analysis of information & record management services market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
-- On the basis of offering, cloud storage segment is expected to witness
highest CAGR over the forecast period (2019 - 2027) owing to the instant
availability of information even when physical copies are not present in
the premises of the organization
-- On the basis of organization size, large enterprises accounted for the
maximum share of the information & record management services market in
2018 owing to constant expansion of business in terms of demography,
product portfolio and human resources, which in turn is increasing the
demand of automated information and records management
-- On the basis of region, Asia Pacific is expected to grow at a CAGR of
6.2% during the forecast period, with increasing number of businesses
across the region which are utilizing such services
-- Some of the players operating in the information & record management
services market are AGS, Cube Records Management Services, Data Keeping
Service Co., Ltd., EDM Group Limited, FS Records, IKON BPS Pvt Ltd.,
Iron Mountain Incorporated, Mitex International (H.K.) Ltd., SRM,
Starbic Business Solutions Pvt. Ltd., Wanbishi Archives Co., Ltd., and
Restore plc amongst others
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Global Information & Record Management Services Market:
-- By Offering
-- Cloud Storage
-- Physical Storage
-- Shredding
-- Digitization
-- Others
-- By Organization size
-- Large Enterprises
-- Small and Medium Enterprises
-- By Verticals
-- Banking, Financial Services, and Insurance (BFSI)
-- Media and Entertainment
-- Law firms
-- IT and Telecom
-- Government
-- Retail
-- Automotive
-- Healthcare
-- Others (Transportation, Hospitality)
-- By Geography
-- North America
-- United States
-- Canada
-- Mexico
-- Europe
-- France
-- The UK
-- Spain
-- Germany
-- Italy
-- Nordic Countries
-- Denmark
-- Finland
-- Iceland
-- Sweden
-- Norway
-- Benelux Union
-- Belgium
-- The Netherlands
-- Luxembourg
-- Rest of Europe
-- Asia Pacific
-- China
-- Japan
-- India
-- New Zealand
-- Australia
-- South Korea
-- Southeast Asia
-- Indonesia
-- Thailand
-- Malaysia
-- Singapore
-- Rest of Southeast Asia
-- Rest of Asia Pacific
-- Middle East and Africa
-- Saudi Arabia
-- UAE
-- Egypt
-- Kuwait
-- South Africa
-- Rest of Middle East & Africa
-- Latin America
-- Brazil
-- Argentina
-- Rest of Latin America
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