Industry Analysis & Industry Trends
The Document Preparation Services industry has struggled over the past five years. The weak economy early in the period and increased competition over the past five years are expected to limit revenue growth to a modest compound annual rate of 0.3% over the five years through 2016-17 to reach £990.1 million. The industry's fortunes are largely tied to two economic indicators: business confidence and business capital expenditure. Unfortunately for the industry, both indicators performed poorly following the economic downturn. This caused UK businesses to scale back spending dramatically, leading to a reduction in demand for the industry's services... purchase to read more
Industry Report - Industry Key Buyers Chapter
The industry has no major players as no one company has a market share above 5%. The top four companies in the industry are expected to have a combined market share of less than 10% in 2016-17. The nature of the industry means that there are numerous small enterprises servicing local businesses and communities across the United Kingdom, due to the low barriers to entry. However, technological changes are expected to result in industry consolidation over the next five years. Firms that are able to adopt and implement technology to provide services at a competitive rate are likely to gain market share and a degree of prominence over the next five years.
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