Data entry outsourcing market poised for $185Mn growth
NEW YORK, UNITED STATES — The data-entry outsourcing services market is forecasted to grow by US$185.56 million from 2022 to 2027, accelerating at a 6.01% compound annual growth rate (CAGR).
Market research firm Technavio attributes the predicted growth to rising demand for cost-effective solutions that can boost efficiency.
Many companies are turning to specialized service providers to handle non-core tasks like data entry, allowing them to streamline operations, reduce expenses, and speed up processes.
As Technavio’s report points out, outsourcing data entry has become a key strategy for improving operations and cutting costs.
However, the industry could still face difficulties, especially in managing large and intricate data sets. Service providers face the heavy task of processing and accurately inputting vast amounts of information.
Segment-wise, the BFSI (Banking, Financial Services, and Insurance) sector is set for significant growth, spurred by the expansion of banks in emerging markets.
Technavio added that the push for financial inclusion in countries like India is prompting BFSI companies to broaden their reach, even in remote areas.
