Paper chase: Rising demand for the digitization of health records will propel industry revenue growth

The Document Management Services 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 industry benefit from sustained demand for document storage and increased information security regulation. Revenue growth plateaued during the five-year period; nevertheless, revenue is expected to rebound. Over the five years to 2023, revenue for the Document Management Services industry is projected to grow marginally. In particular, rising business formation will expand the scope of the industry's commercial target market and benefit industry revenue over the next five years...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Threats & Opportunities

  • Rising business formation will expand the scope of the industry’s commercial target market and benefit industry revenue
  • Digital conversion of paper records is a growing market for industry operators
  • The industry will be positively affected by a projected upswing in the business cycle
  • 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 2023, industry value added is forecast to rise at an annualized rate of 1.5%, falling slightly behind GDP growth projections. During the same period, GDP is projected to rise an annualized 2.2%. As a result, the Document Management Services industry is growing slower than 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. Mos...purchase to read more.

    Additional Insights for the Document Management Services Industry

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

  • Ability to quickly adopt new technology
  • Economies of scale
  • Prompt delivery to market
  • IBISWorld analysts also discuss how external factors such as Number of businesses and Local and state government investment in the Document Management Services industry impact industry performance..

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    What's in this report

    What is the Document Management Services Industry?

    This 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.

    Industry Products
  • Records management services
  • Data protection and recovery services
  • Data destruction
  • Industry Activities
  • Storing records
  • Transporting records
  • Electronic conversion of records
  • Secure document destruction
  • Document duplication and data backup services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of businesses
  • Local and state government investment
  • Regulation
  • External competition
  • Price of paper

  • Current Performance
  • Favorable macroeconomic conditions
  • Going digital
  • Increased M&A activity
  • Chart: Revenue Growth

  • Industry Outlook
  • Business formation expected to expand client base
  • Legislation boosts demand
  • Table: Document Management Services Industry Revenue Outlook

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

  • Supply Chains
    Key Buying Industries
  • Information
  • Finance and Insurance
  • Law Firms
  • Healthcare and Social Assistance

  • Key Selling Industries
  • Computer & Packaged Software Wholesaling
  • Copier & Office Equipment Wholesaling
  • Paper Wholesaling
  • Printing

  • Products & Services
  • Records management services
  • Data protection and recovery services
  • Data destruction
  • Chart: Document Management Services Industry Products and Services Segmentation

  • Demand Determinants
  • Economic activity
  • Government regulations
  • Digital conversion

  • Major Markets
  • Financial services
  • Government
  • Other
  • Legal
  • Healthcare
  • Chart: Major Market Segmentation for the Document Management Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Rent and utilities
  • Depreciation and other
  • Chart: Cost Structure Benchmarking – Sector vs Document Management Services

  • Basis of Competition
  • Internal competition
  • External competition

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

  • Industry Globalization
    Iron Mountain Inc., Stericycle Inc.,
  • Table: Iron Mountain Inc. - financial performance
  • Table: Stericycle Inc. - financial performance

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

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

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Document Management Services Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Number of businesses (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Data Destruction
  • Services that primarily include physical secure shredding operations at the end of documents' life cycle to ensure that information is not stolen or abused.
  • Data Protection And Recovery Services
  • Services that primarily include off-site storage of data backup media for data recovery in the case of a disaster, human error or virus.
  • Electronic Records
  • Records primarily comprising email and various types of magnetic media such as computer tapes, hard drives and optical disks.
  • Physical Records
  • Paper documents or any non-electronic media such as microfilm and microfiche, master audio and videotapes, film, X-rays and blueprints.
  • Records Management Services
  • Services that primarily include the archival storage of records for long periods according to applicable laws, regulations and industry best practices.
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    Why buy this report?

    IBISWorld’s industry research report on Document Management Services provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

    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 Management 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 Management 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 Management Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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