Industry Statistics and Trends
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 1.3 % over the past five years, to reach an estimated $307.5m in 2023.
Trends and Insights
Intense competition from substitutes has weakened revenue growth
- Overseas document preparation service providers, particularly from India and the Philippines, have posed strong competition to domestic document preparation service providers due to their lower wage costs and strong English language skills.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
International competition will put downward pressure on profit margins
- The Document Preparation Service industry will face increasing competition from international transcription firms, particularly countries like the Philippines, where labour costs are lower.
Biggest companies in the Document Preparation Services in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
VIQ Australia | 34.9 | |
Auscript | 18.0 |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Court and legal transcription services, Other transcription services and Other services. Court and legal transcription services is the largest segment of the Document Preparation Services in Australia.
Trends and Insights
Growing number of lawsuits boosts demand for court and legal transcription services
- Courts and legal proceedings are processes designed to resolve disputes and administer justice. Outcomes can be used as precedents in future proceedings, reflecting the importance of timeliness and accuracy of transcriptions.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
Document preparation service providers offer a range of services related to preparing documents. This includes services like typing, word processing, letter or resume writing, editing and proofreading, desktop publishing, and stenographic and transcription services.
What's included in this industry?
Court and legal transcription Healthcare transcription Corporate transcription Document editing Resume writingProofreadingCompanies
VIQ AustraliaAuscriptPurchase this report to view all 2 major companies in this industry.
Related Terms
VOICE RECOGNITION SOFTWARESTENOGRAPHYTRANSCRIPTIONIndustry Code
ANZSIC 7292 - Document Preparation Services in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Intensifying competition from international service providers has limited revenue growth. Service providers in countries like India and the Philippines can provide services a...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The growing number of lawsuits propels demand for court and legal transcription services. As courts outsource transcription services to manage their workload, the upswing in ...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2023
- Product innovation level
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Victoria’s share of document preparation services establishments exceeds its population proportion. This is due to significant business activity in Victoria, making it an att...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each region in 2023
- Number and share of revenue each region accounts for in 2023
- Number and share of wages each region accounts for in 2023
- Number and share of employees in each region in 2023
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The Document Preparation Services industry faces high internal competition. Service providers are striving to enhance their services, as reliability and accuracy have become ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
VIQ Australia Pty Limited’s acquisition of Auscript has propelled its market share growth while leading to a plummet in FTR Holdings I Pty Ltd’ market share. The Auscript tra...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of VIQ Australia's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Auscript's performance by revenue, market share and profit margin from 2017 through 2023
Detailed analysis
- Description and key data for VIQ Australia, and factors influencing its performance in the industry
- Description and key data for Auscript, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Fluctuating spending patterns from key downstream markets like legal firms and health services can significantly influence revenue volatility. Factors like business confidenc...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
A surge in downstream demand is boosting profitability. Notably, increased demand for legal services linked to economic restructuring and insolvency, coupled with the rising ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Document Preparation Services industry in Australia in 2024?
The market size of the Document Preparation Services industry in Australia is $307.5m in 2024.
How many businesses are there in the Document Preparation Services in Australia industry in 2023?
There are 1,176 businesses in the Document Preparation Services industry in Australia, which has grown at a CAGR of 4.1 % between 2018 and 2023.
Has the Document Preparation Services industry in Australia grown or declined over the past 5 years?
The market size of the Document Preparation Services industry in Australia has been declining at a CAGR of 1.3 % between 2018 and 2023.
What is the forecast growth of the Document Preparation Services industry in Australia over the next 5 years?
Over the next five years, the Document Preparation Services industry in Australia is expected to grow.
What are the biggest companies in the Document Preparation Services market in Australia?
The biggest companies operating in the Document Preparation Services market in Australia are VIQ Australia and Auscript
What does the Document Preparation Services in Australia include?
Court and legal transcription and Healthcare transcription are part of the Document Preparation Services industry.
Which companies have the highest market share in the Document Preparation Services in Australia?
The company holding the most market share in Australia is VIQ Australia.
How competitive is the Document Preparation Services industry in Australia?
The level of competition is moderate and increasing in the Document Preparation Services industry in Australia.
Related Industries
Widen your competitive advantage with related industries
Competitors
- Facilities Management and Other Office Administrative Services in Australia
Complementors
- Printing Support Services in Australia
- Computer System Design Services in Australia
- Libraries and Archives in Australia
International industries
- Document Preparation Services in the US
- Office Administration and Document Preparation Services in New Zealand
- Document Preparation Services in the UK
View all industries in Australia
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
