U.S. Transcription Market Size, Share & Trends Analysis Report By Vertical (Legal, Medical, Media And Entertainment, BFSI, Government, Education), By Type (Software, Services), And Segment Forecasts, 2025 - 2030

PUBLISHED: October 29, 2024

PAGES: 150 Pages

DELIVERY TIME: 2-10 business days

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The U.S. transcription market size is expected to reach USD 41.93 billion by 2030, registering a CAGR of 5.2% from 2025 to 2030, according to a new report by Grand View Research, Inc. 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.

The COVID-19 pandemic has normalized remote work and impacted the growth of the U.S. transcription industry. Meetings consume time, and communication barriers make them more difficult. Transcription companies have used this to their advantage to expand their businesses. For instance, VITAC provides Internet Captioning Services (ICS) for events to its VITAC Zoom customers, reducing customers' requirements to share large volumes of API tokens.

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.

Product Code: GVR-4-68038-404-8

Chapter 1. Methodology and Scope

1.1. Market Segmentation and Scope
1.2. Market Definitions
- 1.2.1. Information analysis
- 1.2.2. Market formulation & data visualization
- 1.2.3. Data validation & publishing
1.3. Research Scope and Assumptions
- 1.3.1. List of Data Sources

Chapter 2. Executive Summary

2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

Chapter 3. U.S. Transcription Market Variables, Trends, & Scope

3.1. Market Lineage Outlook
3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Technology Challenge
3.3. U.S. Transcription Market Analysis Tools
- 3.3.1. Technology Analysis - Porter's
  - 3.3.1.1. Bargaining power of the suppliers
  - 3.3.1.2. Bargaining power of the buyers
  - 3.3.1.3. Threats of substitution
  - 3.3.1.4. Threats from new entrants
  - 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
  - 3.3.2.1. Political landscape
  - 3.3.2.2. Economic and social landscape
  - 3.3.2.3. Technological landscape

Chapter 4. U.S. Transcription Market: Vertical Estimates & Trend Analysis

4.1. Segment Dashboard
4.2. U.S. Transcription Market: Vertical Movement Analysis, 2024 & 2030 (USD Billion)
4.3. Legal
- 4.3.1. Legal Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
4.4. Medical
- 4.4.1. Medical Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
4.5. Media and Entertainment
- 4.5.1. Media and Entertainment Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
4.6. BFSI
- 4.6.1. Bankruptcy Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
4.7. Government
- 4.7.1. Government Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
4.8. Education
- 4.8.1. Education Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
  - 4.8.1.1. Corporate
    - 4.8.1.1.1. Corporate Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
  - 4.8.1.2. Academics
    - 4.8.1.2.1. Academics Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
    - 4.8.1.2.2. K-12
      - 4.8.1.2.2.1. K-12 Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
    - 4.8.1.2.3. Undergraduates
      - 4.8.1.2.3.1. Undergraduates Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
    - 4.8.1.2.4. Universities
      - 4.8.1.2.4.1. Universities Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
    - 4.8.1.2.5. Individual
      - 4.8.1.2.5.1. Individual Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
4.9. Others
- 4.9.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)

Chapter 5. U.S. Transcription Market: Type Estimates & Trend Analysis

5.1. Segment Dashboard
5.2. U.S. Transcription Market: Type Movement Analysis, 2024 & 2030 (USD Billion)
5.3. Software
- 5.3.1. Software Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.3.2. Electronic Reporting
  - 5.3.2.1. Electronic Reporting Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.3.3. Digital Recording
  - 5.3.3.1. Digital Recording Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
5.4. Services
- 5.4.1. Services Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)

Chapter 6. Competitive Landscape

6.1. Company Categorization
6.2. Company Market Positioning
6.3. Company Heat Map Analysis
6.4. Company Profiles/Listing
- 6.4.1. 3Play Media
  - 6.4.1.1. Participant's Overview
  - 6.4.1.2. Financial Performance
  - 6.4.1.3. Vertical Benchmarking
  - 6.4.1.4. Strategic Initiatives
- 6.4.2. VITAC
  - 6.4.2.1. Participant's Overview
  - 6.4.2.2. Financial Performance
  - 6.4.2.3. Vertical Benchmarking
  - 6.4.2.4. Strategic Initiatives
- 6.4.3. TranscribeMe, Inc.
  - 6.4.3.1. Participant's Overview
  - 6.4.3.2. Financial Performance
  - 6.4.3.3. Vertical Benchmarking
  - 6.4.3.4. Strategic Initiatives
- 6.4.4. Moretti Group
  - 6.4.4.1. Participant's Overview
  - 6.4.4.2. Financial Performance
  - 6.4.4.3. Vertical Benchmarking
  - 6.4.4.4. Strategic Initiatives
- 6.4.5. Robin Healthcare
  - 6.4.5.1. Participant's Overview
  - 6.4.5.2. Financial Performance
  - 6.4.5.3. Vertical Benchmarking
  - 6.4.5.4. Strategic Initiatives
- 6.4.6. Peterson Reporting
  - 6.4.6.1. Participant's Overview
  - 6.4.6.2. Financial Performance
  - 6.4.6.3. Vertical Benchmarking
  - 6.4.6.4. Strategic Initiatives
- 6.4.7. TSG Reporting, Inc.
  - 6.4.7.1. Participant's Overview
  - 6.4.7.2. Financial Performance
  - 6.4.7.3. Vertical Benchmarking
  - 6.4.7.4. Strategic Initiatives
- 6.4.8. Captionmax LLC
  - 6.4.8.1. Participant's Overview
  - 6.4.8.2. Financial Performance
  - 6.4.8.3. Vertical Benchmarking
  - 6.4.8.4. Strategic Initiatives
- 6.4.9. Nuance Communication, Inc.
  - 6.4.9.1. Participant's Overview
  - 6.4.9.2. Financial Performance
  - 6.4.9.3. Vertical Benchmarking
  - 6.4.9.4. Strategic Initiatives
- 6.4.10. MModal IP LLC.
  - 6.4.10.1. Participant's Overview
  - 6.4.10.2. Financial Performance
  - 6.4.10.3. Vertical Benchmarking
  - 6.4.10.4. Strategic Initiatives

Product Code: GVR-4-68038-404-8

List of Tables

Table 1 U.S. transcription market size estimates & forecasts, 2018 - 2030 (USD Billion)
Table 2 U.S. transcription market, by vertical, 2018 - 2030 (USD Billion)
Table 3 U.S. transcription market, by type, 2018 - 2030 (USD Billion)
Table 4 Legal U.S. transcription market, 2018 - 2030 (USD Billion)
Table 5 Medical U.S. transcription market, 2018 - 2030 (USD Billion)
Table 6 Media and entertainment U.S. transcription market, 2018 - 2030 (USD Billion)
Table 7 BFSI U.S. transcription market, 2018 - 2030 (USD Billion)
Table 8 Government U.S. transcription market, 2018 - 2030 (USD Billion)
Table 9 Education U.S. transcription market, 2018 - 2030 (USD Billion)
Table 10 Corporate U.S. transcription market,, 2018 - 2030 (USD Billion)
Table 11 Academics U.S. transcription market,, 2018 - 2030 (USD Billion)
Table 12 K-12 U.S. transcription market, 2018 - 2030 (USD Billion)
Table 13 Undergraduates U.S. transcription market, 2018 - 2030 (USD Billion)
Table 14 Universities U.S. transcription market, 2018 - 2030 (USD Billion)
Table 15 Individual U.S. transcription market, 2018 - 2030 (USD Billion)
Table 16 Others U.S. transcription market, 2018 - 2030 (USD Billion)
Table 17 Software U.S. transcription market, 2018 - 2030 (USD Billion)
Table 18 Electronic reporting U.S. transcription market, 2018 - 2030 (USD Billion)
Table 19 Digital recording U.S. transcription market, 2018 - 2030 (USD Billion)
Table 20 Services U.S. transcription market, 2018 - 2030 (USD Billion)

List of Figures

Fig. 1 U.S. Transcription market segmentation
Fig. 2 Information procurement
Fig. 3 Data analysis models
Fig. 4 Market formulation and validation
Fig. 5 Data validating & publishing
Fig. 6 U.S. Transcription market snapshot
Fig. 7 U.S. Transcription market segment snapshot
Fig. 8 U.S. Transcription market competitive landscape snapshot
Fig. 9 Market research process
Fig. 10 Market driver relevance analysis (current & future impact)
Fig. 11 Market restraint relevance analysis (current & future impact)
Fig. 12 Transcription market, by vertical, key takeaways
Fig. 13 U.S. Transcription market, by vertical, market share, 2024 & 2030
Fig. 14 Legal market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 15 Medical market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 16 Media and entertainment market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 17 BFSI market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 18 Government market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 19 Education market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 20 Corporate market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 21 Academics market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 22 K-12 market estimates & forecasts, 2018 - 2030 (USD Billion
Fig. 23 Undergraduates market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 24 Universities market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 25 Individual market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 26 Others market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 27 U.S. Transcription market, by type, market share, 2024 & 2030
Fig. 28 Software market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 29 Electronic reporting market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 30 Digital recording market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 31 Services market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 32 Strategic framework