Industry Analysis & Industry Trends
The industry is expected to expand over the five years through 2016-17. Businesses in the industry provide outsourced document storage, document destruction and digital conversion of paper-based records to commercial and government clients. As a result of strict regulations relating to the retention and destruction of company records, the industry has performed well and exhibited consistent growth. The industry has also benefited from strong demand from government institutions, as departmental spending cuts encouraged the outsourcing of document management services to industry operators. Meanwhile, improving business confidence and growth in the number of businesses operating in the United Kingdom propelled industry demand... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Document Management Services industry is in the growth stage of its industry life cycle. Over the 10 years through 2021-22 industry value added is forecast to increase at a compound annual rate of 3.9%. Over the same period, GDP is forecast to increase at a compound annual rate of 2.3%. This indicates that the industry is growing faster than the wider economy. This is expected to be partly the result of increased demand for digitalisation services but also due to greater demand as a result of increasing legislation requiring businesses and government departments to destroy and store documents in a more controlled manner. Significant enterprise and establishment expansion also demonstrate that the industry is in the growth stage of its life cycle.
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