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 Key Buyers Chapter
The Document Management Services exhibits a medium level of market share concentration, with the largest four firms accounting for about 51.5% of total industry revenue. In the five years to 2012, the number of firms operating in this industry is expected to increase an average 0.8% annually to 1,500 firms. However, the slower growth of firms is attributed to some consolidation, primarily among the larger industry players. The largest firms in the industry have grown over the past five years, primarily as a result of acquisition activity. For example, Iron Mountain acquired File House Record Storage, Document Systems Inc. and First National Safe Deposit to broaden its domestic business and customer base, resulting in the company's market share of 35.8%... purchase to read more