Visa outsourcing market to reach $4.38Bn by 2029
BANGALORE, INDIA — The visa outsourcing services industry is projected to double its market value to US$4.38 billion by 2029, with a compound annual growth rate (CAGR) of 13.2% during the forecast period.
Market research firm Valuates Reports revealed that the intricate visa application process contributes to the rising demand for these services. Visa applications demand various requirements, ranging from specific documents to evolving regulations.
Due to this, visa outsourcing companies emerged as go-to experts that help simplify the process while maintaining accuracy and compliance for businesses and individual travelers.
Governments worldwide are increasingly partnering with private entities to manage their visa operations, ensuring a faster and more efficient service for applicants.
The global nature of business and travel also fuels the visa outsourcing industry’s growth. As cross-border interactions rise, so does the need for efficient visa services. Outsourcing has become essential in tackling the challenges of international business and travel.
Valuates Reports added that North America would play a central role in the industry for the next years. As a major global business center attracting countless foreign talents, the demand for fast and compliant visa processing is paramount. In response, visa outsourcing services in the region are ramping up their efforts, streamlining operations, and prioritizing top-notch customer service.
