U.S. Transcription Market
Dublin, April 21, 2023 (GLOBE NEWSWIRE) — The “U.S. Transcription Market Size, Share & Trends Analysis Report By Vertical (Legal, Medical, Media & Entertainment, BFSI, Government, Education), By Type (Software, Services), And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The U.S. transcription market size is expected to reach USD 41.89 billion by 2030, registering a CAGR of 5.8% from 2023 to 2030.
Transcription services are widely used in the entertainment, legal, and healthcare sectors as there is a need for accurate data.
An increase in online audio and video content and a significant population with hearing disabilities will further influence the transcription market’s growth.
Companies are increasingly turning to transcription services due to the continued growth of the multimedia industry. Live and recorded telecasts of sports events, talk shows, and digital content on OTT platforms are adopting transcription services. Increased access to content from various corners of the globe comes with a specific language barrier.
3Play Media provides transcription services for more than 20 languages backed by innovative technology for its customers in the legal, health, and podcasts industry. Additionally, they also offer transcription for dual languages.
Transcription service providers have adopted advanced Artificial Intelligence AI and Machine Learning technologies to automate processes. Automation saves time and human costs, gives precise results, and is used in courtrooms, institutions, clinics, etc. For instance, Robin Healthcare and Moretti Group have adopted the latest technologies to serve various customers.
U.S. Transcription Market Report Highlights
Service providers are rapidly adopting speech recognition technology to achieve higher accuracy and reduce costs. Text-to-speech (TTS) technology is said to drive the growth of the transcription market
In the U.S., 20% of people have hearing impairments, which is prompting the demand for video and audio transcription services, thereby propelling the growth of the market. Service providers follow WCAG 2.0 guidelines developed by World Wide Web Consortium to provide digital content to disabled users
AI-based transcription services have gained popularity in legal, entertainment, and education sectors as it transforms recorded and live videos and audio with more than 99% accuracy
No. of Pages
2022 – 2030
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2030
Compound Annual Growth Rate
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
3.1 Market Segmentation & Scope
3.2 Penetration & Growth Prospect Mapping
3.3 Value Chain Analysis
3.4 Market Dynamics
3.4.1 Market Drivers
18.104.22.168 Growing need for accurate data
22.214.171.124 Growing adoption of transcription services across medical and legal sectors
126.96.36.199 Development of hearing-impaired transcription services
3.4.2 Market Restraints
188.8.131.52 Concerns over data security
3.5 Industry Analysis – Porter’s Five Forces Analysis
3.6 U.S. Transcription Market – PEST Analysis
3.7 Major Deals & Strategic Alliances Analysis, 2022
3.8 Use-Case Analysis, by Vertical
184.108.40.206 Court Briefings
3.8.3 Media and Entertainment
220.127.116.11 Script Transcription
18.104.22.168 Film Transcription
3.9 Pricing Analysis
3.9.1 General Transcription
22.214.171.124 Pricing analysis, by standard delivery
126.96.36.199 pricing analysis, by urgent delivery
3.9.2 Domain-specific Transcription
188.8.131.52 Pricing analysis, by standard delivery
184.108.40.206 pricing analysis, by urgent delivery
3.10 Analyst Recommendation
3.10.1 Real-time Transcription
220.127.116.11 Court Reporting
Chapter 4 U.S. Transcription Market: Vertical Estimates & Trend Analysis
Chapter 5 U.S. Transcription Market: Type Estimates & Trend Analysis
Chapter 6 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/z1h5py
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