Market Overview:
The global online transcription market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for online transcription services from various end-use industries, such as medical, education, legal, and others. In addition, the growing trend of cloud-based services is also contributing to the growth of this market. Based on type, the global online transcription market can be segmented into software and services. The software segment is expected to grow at a higher CAGR than the services segment during the forecast period from 2018 to 2030.
Product Definition:
Online transcription is the process of converting an audio or video recording into a written format. This can be done in real time, as the recording is taking place, or after the fact. Online transcription services are often used by businesses and individuals who need to create text versions of recordings for legal purposes, meetings, or other purposes.
Software:
Software is a set of instructions, which when followed by a computer yields the result. The software is used to transcribe speech from one language to another. It enables the conversion of text or alphabets into sounds and vice versa. Software also helps in editing, managing and standardizing transcriptions before sending them out for publication.
The global online transcription market size was valued at USD 825 million in 2016.
Services:
Online transcription services are used by companies that need to convert audio or oral information into written form. The process is done either manually or automatically with the help of software programs.
On the basis of end-use, this market can be classified as education, government & public sector, healthcare & life sciences and media & entertainment industries.
Application Insights:
Medical industry was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. Factors such as rising prevalence of chronic diseases, increasing geriatric population, and demand for highly skilled medical professionals are anticipated to drive this segment. Rising adoption of online transcription services by hospitals and healthcare organizations for managing their paperwork is also a major factor driving this segment.
Online transcriptions services have helped legal firms in reducing their paper work load by enabling them to easily access court transcripts at client¢â‚¬â„¢s location through internet thereby saving both time as well as cost associated with transportation & travel etc. Online transcriptions service has also enabled law firms to offer 24*7 live chat support which can be used by clients who need assistance or advice regarding any legal matter which further helps these companies attract more customers thus driving this application segment growth over the forecast period.
Regional Analysis:
North America dominated the overall market in terms of revenue share in 2017. The growth can be attributed to the presence of a large number of players, increasing demand for online transcriptions, and high adoption rate for advanced technologies among various industry verticals. Moreover, growing healthcare IT spending by hospitals and rising awareness about EHR implementation are expected to drive regional growth over the forecast period.
Asia Pacific is anticipated to witness lucrative CAGR during the forecast period owing to factors such as improving healthcare infrastructure due to government initiatives coupled with an increase in investments from foreign players looking for opportunities offered by untapped markets across Asia Pacific region. Furthermore, increasing penetration rates of smartphones and tablets are also expected fuel regional growth over next eight years.
Growth Factors:
- Increasing demand for transcription services from various sectors
- Proliferation of digital content and the need for its accurate transcription
- Growing number of startups and small businesses that require transcription services
- Rapid growth in the number of online users who prefer to consume content in audio or video form
- Increased focus on accuracy and quality by transcription service providers
Scope Of The Report
Report Attributes
Report Details
Report Title
Online Transcription Market Research Report
By Type
Software, Services
By Application
Medical Industry, Education, Legal, Others
By Companies
AT Transcript, GMR Transcription, Go Transcript, Rev, TranscribeMe, Scribie, iScribed, Transcription Panda, Temi, Gengo, Otter, Sonix, Fiverr, EHR Transcriptions, World Wide Dictation, Athreon, MedScribe, Acusis, Tomedes, SDL
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
152
Number of Tables & Figures
107
Customization Available
Yes, the report can be customized as per your need.
Global Online Transcription Market Report Segments:
The global Online Transcription market is segmented on the basis of:
Types
Software, Services
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Medical Industry, Education, Legal, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- AT Transcript
- GMR Transcription
- Go Transcript
- Rev
- TranscribeMe
- Scribie
- iScribed
- Transcription Panda
- Temi
- Gengo
- Otter
- Sonix
- Fiverr
- EHR Transcriptions
- World Wide Dictation
- Athreon
- MedScribe
- Acusis
- Tomedes
- SDL
Highlights of The Online Transcription Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Software
- Services
- By Application:
- Medical Industry
- Education
- Legal
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Online Transcription Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Online transcription is the process of converting written text into a digital format. This can be done by a human transcriber, or by an automated system. Online transcription can be used for a variety of purposes, including creating transcripts for court proceedings, providing transcriptions for online research, and creating translations from one language to another.
Some of the key players operating in the online transcription market are AT Transcript, GMR Transcription, Go Transcript, Rev, TranscribeMe, Scribie, iScribed, Transcription Panda, Temi, Gengo, Otter, Sonix, Fiverr, EHR Transcriptions, World Wide Dictation, Athreon, MedScribe, Acusis, Tomedes, SDL.
The online transcription market is expected to register a CAGR of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Online Transcription Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Online Transcription Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Online Transcription Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Online Transcription Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Online Transcription Market Size & Forecast, 2018-2028
4.5.1 Online Transcription Market Size and Y-o-Y Growth
4.5.2 Online Transcription Market Absolute $ Opportunity
Chapter 5 Global Online Transcription Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Online Transcription Market Size Forecast by Type
5.2.1 Software
5.2.2 Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Online Transcription Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Online Transcription Market Size Forecast by Applications
6.2.1 Medical Industry
6.2.2 Education
6.2.3 Legal
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Online Transcription Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Online Transcription Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Online Transcription Analysis and Forecast
9.1 Introduction
9.2 North America Online Transcription Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Online Transcription Market Size Forecast by Type
9.6.1 Software
9.6.2 Services
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Online Transcription Market Size Forecast by Applications
9.10.1 Medical Industry
9.10.2 Education
9.10.3 Legal
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Online Transcription Analysis and Forecast
10.1 Introduction
10.2 Europe Online Transcription Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Online Transcription Market Size Forecast by Type
10.6.1 Software
10.6.2 Services
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Online Transcription Market Size Forecast by Applications
10.10.1 Medical Industry
10.10.2 Education
10.10.3 Legal
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Online Transcription Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Online Transcription Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Online Transcription Market Size Forecast by Type
11.6.1 Software
11.6.2 Services
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Online Transcription Market Size Forecast by Applications
11.10.1 Medical Industry
11.10.2 Education
11.10.3 Legal
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Online Transcription Analysis and Forecast
12.1 Introduction
12.2 Latin America Online Transcription Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Online Transcription Market Size Forecast by Type
12.6.1 Software
12.6.2 Services
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Online Transcription Market Size Forecast by Applications
12.10.1 Medical Industry
12.10.2 Education
12.10.3 Legal
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Online Transcription Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Online Transcription Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Online Transcription Market Size Forecast by Type
13.6.1 Software
13.6.2 Services
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Online Transcription Market Size Forecast by Applications
13.10.1 Medical Industry
13.10.2 Education
13.10.3 Legal
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Online Transcription Market: Competitive Dashboard
14.2 Global Online Transcription Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 AT Transcript
14.3.2 GMR Transcription
14.3.3 Go Transcript
14.3.4 Rev
14.3.5 TranscribeMe
14.3.6 Scribie
14.3.7 iScribed
14.3.8 Transcription Panda
14.3.9 Temi
14.3.10 Gengo
14.3.11 Otter
14.3.12 Sonix
14.3.13 Fiverr
14.3.14 EHR Transcriptions
14.3.15 World Wide Dictation
14.3.16 Athreon
14.3.17 MedScribe
14.3.18 Acusis
14.3.19 Tomedes
14.3.20 SDL
