Industry Statistics and Trends
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 0.3 % over the past five years, to reach an estimated $5.8bn in 2024.
Trends and Insights
Servicers continue to increasingly rely on computer technology
- Operators have gotten more and more reliant on software and computer technologies, as the proliferation of personal computers and the software that runs on them have become more affordable and potent.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Tech innovation presents a double-edged sword
- Moving forward, the possibilities and difficulties associated with technological innovation will accelerate. While new technology will speed up the document preparation process and improve accuracy and efficiency for the typing services sector, they're also anticipated to make the market for document preparation services more competitive in general.
Biggest companies in the Document Preparation Services in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Nuance Communications, Inc. | 105.6 | 6.4 | 6.1 | |
Anacomp Inc. | 6.9 | 0.4 | 6.3 | |
Planet Depos, LLC | 4.2 | 0.0 | 0.9 |
To view the market share and analysis for all 6 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Document preparation services , Typing services and Printing services. Document preparation services is the largest segment of the Document Preparation Services in the US.
Trends and Insights
Popularity across student population enhances document preparation services demand
- This product segment generates revenue via sales of document preparation services, making up the largest revenue niche.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
This industry encompasses several services, including letter or resume writing; document editing or proofreading; word processing or desktop publishing; transcription or dictation; and other secretarial services. This industry does not include document translation services, graphic design, court reporting, prepress and postpress services or document copying services.
What's included in this industry?
Document preparation servicesTyping servicesPrinting servicesMedical transcriptionDictation servicesEditing and proofreading servicesLetter and resume writing servicesCompanies
Nuance Communications, Inc.Anacomp Inc.Planet Depos, LLCPurchase this report to view all 6 major companies in this industry.
Related Terms
VOICE-RECOGNITION TECHNOLOGY (VRT)OUTSOURCINGWYSIWYGRECORDS MANAGEMENT (RM)SPELL CHECKWORD PROCESSORPAGE LAYOUT SOFTWAREELECTRONIC HEALTH RECORD (EHR)OPTICAL CHARACTER RECOGNITION (OCR)Industry Code
NAICS 56141 - Document Preparation Services in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
An array of services that help clients prepare written or electronic documents are included in the industry. The rising use of mobile and software-based products has raised c...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Editing and proofreading are just two of the services offered by operators, which also includes other services. Before final publication, book and magazine publishers utilize...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Establishment locations mirror the trends in US population. Operations in this sector are mostly driven by economic activity levels and closeness to sectors that are compleme...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Price, quality, production speed and the variety of services provided are the main factors that determine competition. For time-restrained sectors, particularly in the segmen...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
There is high fragmentation due to a robust presence of small- to medium- sized companies operating in this space. Nonetheless, some large operators have a significant market...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Nuance Communications, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Anacomp Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Planet Depos, LLC's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 3 additional companies
Detailed analysis
- Description and key data for Nuance Communications, Inc., and factors influencing its performance in the industry
- Description and key data for Anacomp Inc., and factors influencing its performance in the industry
- Description and key data for Planet Depos, LLC, and factors influencing its performance in the industry
- Description, key data and performance trends for 3 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Medical transcription services are a heavily regulated sector, despite the fact that preparers as a whole endure few regulations. The Health Insurance Portability and Account...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Servicers have different pricing structures depending on a number of variables. Small operators, for instance, frequently serve as local subcontractors for larger businesses,...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Document Preparation Services in the US industry in United States in 2024?
The market size of the Document Preparation Services in the US industry in United States is $5.8bn in 2024.
How many businesses are there in the Document Preparation Services in the US industry in 2024?
There are 118k businesses in the Document Preparation Services in the US industry in United States, which has grown at a CAGR of 4.1 % between 2019 and 2024.
Has the Document Preparation Services in the US industry in United States grown or declined over the past 5 years?
The market size of the Document Preparation Services in the US industry in United States has been declining at a CAGR of 0.3 % between 2019 and 2024.
What is the forecast growth of the Document Preparation Services in the US industry in United States over the next 5 years?
Over the next five years, the Document Preparation Services in the US industry in United States is expected to grow.
What are the biggest companies in the Document Preparation Services in the US market in United States?
The biggest companies operating in the Document Preparation Services market in United States are Nuance Communications, Inc., Anacomp Inc. and Planet Depos, LLC
What does the Document Preparation Services in the US in United States include?
Document preparation services and Typing services are part of the Document Preparation Services in the US industry.
Which companies have the highest market share in the Document Preparation Services in the US in United States?
The company holding the most market share in United States is Nuance Communications, Inc..
How competitive is the Document Preparation Services in the US industry in United States?
The level of competition is high and increasing in the Document Preparation Services in the US industry in United States.
Related Industries
Widen your competitive advantage with related industries
Competitors
International industries
View all industries in United States
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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