Industry Analysis & Industry Trends
The industry is composed of companies that provide outsourced records storage, document destruction services and digital conversion of paper-based records to commercial and government clients. As a result of regulations mandating company records retention, the Document Management Services industry benefits from sustained demand for document storage. Nevertheless, the severity of the recent recession resulted in a contracting number of US businesses, decreasing the industry's available target market. In the years since the recession, industry revenue has rebounded steadily, driven in part by increased demand from healthcare providers transitioning to electronic records.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Document Management Services industry is in the mature stage of its industry life cycle. Over the 10 years to 2018, industry value added is forecast to rise at an annualized rate of 3.1%, which is only slightly above average GDP growth. During the same period, GDP is projected to rise on average 2.1% per year. As a result, the Document Management Services industry is maintaining its share of the overall economy, a key indicator of its mature life cycle phase.
Furthermore, the Document Management Services industry benefits from key federal regulations mandating that companies retain documents and records... purchase to read more