Global Online Transcription Platform and Services Market by Type (Software, Services), By Application (Medical Industry, Education, Legal, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global online transcription platform and services 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 solutions is also contributing to the growth of this market. Based on type, the global online transcription platform and services market can be segmented into software and services. The software segment is expected to account for a larger share of this market than the service segment during the forecast period.



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Product Definition:

An online transcription platform is a web-based application that enables users to create, upload, share, and collaborate on transcriptions of audio or video files.

Software:

Software is a set of instructions, which when followed by the computer yield output. The software helps in recording and editing the user's speech and converting it to editable format. It also helps in providing features such as search functionality, auto-save functionality, built-in spellchecker etc.

Services:

Online transcription platform and services market is segmented on the basis of end-users and products. On the basis of end-users, it includes academic research institutes, corporate enterprises, government agencies & departments and litigation support providers. Academic research institutes held a major share in online transcription platform services market owing to increase in number of universities worldwide which resulted into growth in online transcriptions demand from students as well as researchers.

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 expected to have a positive impact on market growth.

Online transcriptions services have helped legal firms in reducing their paper work load by 30%. The need for accurate transcripts that convey information with utmost precision has led law firms across the globe to use online transcriptions services owing to time constraints within which legal documents must be translated into another language before they can be submitted at court hearings or used as evidence in trial proceedings. Online transcription companies are also gaining traction among financial institutions due largely it being able provide real-time translation capabilities 24*7*. These factors are projected to increase market penetration over the coming years.

Regional Analysis:

North America dominated the overall market in terms of revenue share in 2017. The region is expected to maintain its position during the forecast period due to factors such as increasing adoption of online transcription services by medical practitioners and lawyers, growing demand for legal transcripts, and rising number of healthcare-related websites. Asia Pacific is anticipated to register a lucrative growth rate over the forecast period owing to factors such as improving internet connectivity across rural areas and rapid urbanization resulting in increased adoption of online services by users. Moreover, booming e-learning industry coupled with increasing government initiatives aimed at reducing paper documentation are some other major factors driving regional growth. Latin America also presents significant opportunities for OTT platforms providing service providers owing to high population density along with developing economy that demands cost-effective solutions for document delivery especially during emergencies & disaster situations (earthquakes). Rising awareness regarding chronic diseases among people leading to increased demand for medical records which can be used later during treatment planning also contributes towards regional growth prospects.

Growth Factors:

Increasing demand for transcription services from the corporate sector
Growing popularity of online transcription platforms among small and medium businesses
Proliferation of mobile devices and apps that facilitate easy recording of audio files
Rising demand for transcriptions in multiple languages
Emergence of cloud-based transcription platforms


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Scope Of The Report
Report Attributes
Report Details
Report Title
Online Transcription Platform and Services 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
164
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.

Global Online Transcription Platform and Services Market Report Segments:
The global Online Transcription Platform and Services 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



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Highlights of The Online Transcription Platform and Services 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 Platform and Services 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
Identifying Appropriate Advertising Appeals



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

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