Document Management Services in the US - Industry Market Research Report

Document Management Services in the US - Industry Market Research Report

Document Management Services

Over the five years to 2019, revenue for the Document Management Services industry grew. The industry includes companies that provide commercial and government clients with outsourced records storage, document destruction services and digital conversion of paper-based records. Due to regulations mandating the retention of company records, operators in the Document Management Services industry benefit from sustained demand for document storage and increased information security regulation. Currently, more than 1,300 companies compete in the highly fragmented Document Management Services industry. Industry operators experience competition from small, local companies due to the low capital requirements to enter the industry. However, competition from smaller operators has decreased during the five-year period as larger industry operators have increasingly acquired smaller regional operators to achieve cost savings through economies of scale and nationwide expansion. Over the five years to 2024, industry revenue is projected to grow. Nevertheless, rising business formation is expected to expand the scope of the industry's commercial target market and benefit industry revenue over the next five years. The key challenge among industry operators is demonstrating improved cost savings and data security for companies that outsource document management services instead of keeping records management in house.

The Document Management Services industry includes companies that store information and records for business and government clients. Industry services involve records management, secure document destruction and data protection and recovery services.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.