Overview

Paperchase: Steady demand for transcription services has offset declines for other services

IBISWorld’s Document Preparation Services market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

REPORT SNAPSHOT

Industry Analysis & Industry Trends

The Document Preparation Services industry is battling against a slowdown in demand. Demand for many of the industry’s services, such as word processing and document proofing, is declining in the face of technological change. However, steady demand for transcription services, the industry’s largest service segment, has contributed to some industry revenue growth over the past five years. This has mainly been due to larger industry players that have secured various long-term transcription contracts with government departments and state justice systems. These entities have increasingly been outsourcing transcription services over the past five years due to perceived cost advantages...

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What is the Document Preparation Services industry?

Industry operators derive the bulk of their revenue from transcription services. This is because these services are typically demanded by large organisations, such as government departments, law firms and law courts, and are usually provided on a long-term contract basis. The industry also generates revenue from other services, such as word processing and proof-reading. However, demand for these services typically comes from smaller entities, as large companies can often complete these tasks in-house due to the lack of specialised software and equipment required, unlike transcription services.

Court and legal transcription services

Courts and legal proceedings deal with important events, and their outcomes can be used as precedent in future proceedings. Con...

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Additional Insights for the Document Preparation Services Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Document Preparation Services Industry are

  • Having a large supply contract
  • Process refinement
  • Highly trained workforce
  • IBISWorld analysts also discuss how external factors such as Demand from legal services and Demand from financial and insurance services in the Document Preparation Services industry impact industry performance..

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    New Zealand Special Report

    Products & Brands

    Major products in this industry
    Court and legal transcription services
    Other transcription services
    Other services
    Examples of brands in this Industry
    Auscript
    ForTheRecord

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Demand from legal services
  • Demand from financial and insurance services
  • Demand from health services
  • Business confidence index

  • Current Performance
  • Technological change
  • Transcription services
  • Outsourcing overseas
  • Chart: Revenue Growth

  • Industry Outlook
  • Technological change
  • Profit
  • Demand trends
  • Table: Document Preparation Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Document Preparation Services Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Newspaper Publishing
  • General Insurance
  • Legal Services
  • Consumers

  • Key Selling Industries
  • Computer and Software Retailing
  • Data Storage Services

  • Products & Services
  • Court and legal transcription services
  • Other transcription services
  • Other services
  • Chart: Document Preparation Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Courts and tribunals
  • Other companies
  • Government agencies
  • Legal firms
  • Small business and consumers
  • Chart: Major Market Segmentation for the Document Preparation Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Rent, utilities and depreciation
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Document Preparation Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Document Preparation Services Industry

  • Industry Globalization
    Major Companies
    FTR Group Pty Ltd
  • Table: FTR Group Pty Ltd - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Document Preparation Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Document Preparation Services Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Stenography
  • Transcribing speech using a stenograph machine.
  • Transcription
  • Converting speech into text or written format.
  • Voice Recognition Software
  • A type of software that can transcribe speech into text.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Document Preparation Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Document Preparation Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Document Preparation Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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