Data Processing Services: A Global Outlook
San Jose, California (PRWEB) January 12, 2012
Follow us on LinkedIn – Data processing services has already attained maturity and the industry has been witnessing slower growth for the past few years. The recent economic crisis has only added to the situation by pulling growth further down. Nonetheless, akin to several other industries, growth for data processing services recovered rather quickly with the gradual shift of companies towards outsourcing. Technological advancements and process outsourcing are considered to be the major factors fuelling growth in the mature market currently. Enhancements in data warehousing software are reducing the query turnaround time and improving data retrieval for quicker decisions and improved business results for client enterprises. Service providers are also stretching the limits of the industry’s scope and offering value-added services to client enterprises. Personalized solutions tailored to the needs of specific enterprises ensure loyal customers for service providers and offer that crucial competitive edge to stand out in the competitive market space. The industry globally is highly fragmented with top four service providers serving a meager 10% of the market.
A healthy compounded annual growth rate of about 6.0% is predicted for the global data processing services market over the period 2010-2015. The US and Europe lead the way with growth in merchant and bank accounts, economic recovery and positive business environment fuelling industry prospects. Dissipating all myths, the payroll processing service segment emerged stronger during the recent recession while the segment of card processing also experienced growth with the rising popularity of plastic money. Number of transactions is increasing by day and new payment instruments being introduced on a constant basis are only complicating the payment processing job further and throwing up newer opportunities at the payment processors.
The research report titled “Data Processing Services: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a bird’s eye view of the industry, highlights latest data processing trends, demand drivers as well as impact of recent economic recession. Discussions on the industry’s most noteworthy regional markets, the US and Europe, are amply detailed with unbiased research commentary and punctuated with a number of information rich market data tables designed to provide the reader a rudimentary understanding of the prevailing market climate. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.
For more details about this comprehensive industry report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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