Document Management Services in the US - Industry Market Research Report

Strike from Record: Rising Business Formation is Expected to Benefit Industry Revenue Growth

Document management services benefit from sustained demand for document storage and increased information security regulation. In 2020, COVID-19 resulted in a temporary economic downturn, disrupting various services undertaken by the industry and thereby reducing demand for document management services. Nonetheless, the industry is relatively immune to economic downturns because of regulations requiring their services and various service offerings. So, industry-wide revenue has grown at an estimated CAGR of 2.1% to $7.8 billion over the five years to 2023, including a 1.9% surge in 2023 alone, when profit is expected to drop to 7.0%.

Document management services include companies that store information and records for business and government clients. The 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.