The rising investment in the process of digitalization across potential economies in the region and the high growth rate can be attributed to the increasing use of the big data technology, growing amount of data across verticals, and rising investments by companies in real-time analytics is likely to drive the online transcription tools market globally.The rise in number of educational institute is likely to drive the online transcription tools market.
MARKET SCOPE
The "Global Online Transcription Tools Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the online transcription tools market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading online transcription tools market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global online transcription tools market is segmented into software and services.
- On the basis of application, the market is segmented into medical, education, government, and others.
MARKET DYNAMICS
Drivers:
- Stringent regulatory and compliance and growing inclination toward cloud-based deployment mode is likely to drive the online transcription tools market. The increase in number of online transcription tools providers is likely to drive the online transcription tools market.
- Online transcription tools provide various advantage across several industries including medical industry, education, legal, among others is likely to provide a positive growth to the market.
- Transcription software assists in the conversion of human speech into a text transcript. Audio or video files can be transcribed manually or automatically these factors make a positive impact on the market.
Restraints:
- Data privacy and security concerns may hinder the growth of the online transcription tools market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The online transcription tools market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the online transcription tools market in these regions.
IMPACT OF COVID-19 ON ONLINE TRANSCRIPTION TOOLS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The online transcription tools market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the online transcription tools market in these regions.
IMPACT OF COVID-19 ON ONLINE TRANSCRIPTION TOOLS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the online transcription tools market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from online transcription tools market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the online transcription tools market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Trint Limited
- Gengo, Inc.
- Transcribe (Wreally LLC)
- GoTranscript Limited
- Descript
- Happy Scribe Ltd.
- Temi
- TranscribeMe
- TOMEDES
- Sonix, Inc
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Online Transcription Tools Market - By Type
1.3.2 Online Transcription Tools Market - By Application
1.3.3 Online Transcription Tools Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ONLINE TRANSCRIPTION TOOLS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. ONLINE TRANSCRIPTION TOOLS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. ONLINE TRANSCRIPTION TOOLS MARKET - GLOBAL MARKET ANALYSIS
6.1. ONLINE TRANSCRIPTION TOOLS - GLOBAL MARKET OVERVIEW
6.2. ONLINE TRANSCRIPTION TOOLS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ONLINE TRANSCRIPTION TOOLS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. SOFTWARE
7.3.1. Overview
7.3.2. Software Market Forecast and Analysis
7.4. SERVICES
7.4.1. Overview
7.4.2. Services Market Forecast and Analysis
8. ONLINE TRANSCRIPTION TOOLS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. MEDICAL
8.3.1. Overview
8.3.2. Medical Market Forecast and Analysis
8.4. EDUCATION
8.4.1. Overview
8.4.2. Education Market Forecast and Analysis
8.5. GOVERNMENT
8.5.1. Overview
8.5.2. Government Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. ONLINE TRANSCRIPTION TOOLS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Online Transcription Tools Market Overview
9.1.2 North America Online Transcription Tools Market Forecasts and Analysis
9.1.3 North America Online Transcription Tools Market Forecasts and Analysis - By Type
9.1.4 North America Online Transcription Tools Market Forecasts and Analysis - By Application
9.1.5 North America Online Transcription Tools Market Forecasts and Analysis - By Countries
9.1.5.1 United States Online Transcription Tools Market
9.1.5.1.1 United States Online Transcription Tools Market by Type
9.1.5.1.2 United States Online Transcription Tools Market by Application
9.1.5.2 Canada Online Transcription Tools Market
9.1.5.2.1 Canada Online Transcription Tools Market by Type
9.1.5.2.2 Canada Online Transcription Tools Market by Application
9.1.5.3 Mexico Online Transcription Tools Market
9.1.5.3.1 Mexico Online Transcription Tools Market by Type
9.1.5.3.2 Mexico Online Transcription Tools Market by Application
9.2. EUROPE
9.2.1 Europe Online Transcription Tools Market Overview
9.2.2 Europe Online Transcription Tools Market Forecasts and Analysis
9.2.3 Europe Online Transcription Tools Market Forecasts and Analysis - By Type
9.2.4 Europe Online Transcription Tools Market Forecasts and Analysis - By Application
9.2.5 Europe Online Transcription Tools Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Online Transcription Tools Market
9.2.5.1.1 Germany Online Transcription Tools Market by Type
9.2.5.1.2 Germany Online Transcription Tools Market by Application
9.2.5.2 France Online Transcription Tools Market
9.2.5.2.1 France Online Transcription Tools Market by Type
9.2.5.2.2 France Online Transcription Tools Market by Application
9.2.5.3 Italy Online Transcription Tools Market
9.2.5.3.1 Italy Online Transcription Tools Market by Type
9.2.5.3.2 Italy Online Transcription Tools Market by Application
9.2.5.4 United Kingdom Online Transcription Tools Market
9.2.5.4.1 United Kingdom Online Transcription Tools Market by Type
9.2.5.4.2 United Kingdom Online Transcription Tools Market by Application
9.2.5.5 Russia Online Transcription Tools Market
9.2.5.5.1 Russia Online Transcription Tools Market by Type
9.2.5.5.2 Russia Online Transcription Tools Market by Application
9.2.5.6 Rest of Europe Online Transcription Tools Market
9.2.5.6.1 Rest of Europe Online Transcription Tools Market by Type
9.2.5.6.2 Rest of Europe Online Transcription Tools Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Online Transcription Tools Market Overview
9.3.2 Asia-Pacific Online Transcription Tools Market Forecasts and Analysis
9.3.3 Asia-Pacific Online Transcription Tools Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Online Transcription Tools Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Online Transcription Tools Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Online Transcription Tools Market
9.3.5.1.1 Australia Online Transcription Tools Market by Type
9.3.5.1.2 Australia Online Transcription Tools Market by Application
9.3.5.2 China Online Transcription Tools Market
9.3.5.2.1 China Online Transcription Tools Market by Type
9.3.5.2.2 China Online Transcription Tools Market by Application
9.3.5.3 India Online Transcription Tools Market
9.3.5.3.1 India Online Transcription Tools Market by Type
9.3.5.3.2 India Online Transcription Tools Market by Application
9.3.5.4 Japan Online Transcription Tools Market
9.3.5.4.1 Japan Online Transcription Tools Market by Type
9.3.5.4.2 Japan Online Transcription Tools Market by Application
9.3.5.5 South Korea Online Transcription Tools Market
9.3.5.5.1 South Korea Online Transcription Tools Market by Type
9.3.5.5.2 South Korea Online Transcription Tools Market by Application
9.3.5.6 Rest of Asia-Pacific Online Transcription Tools Market
9.3.5.6.1 Rest of Asia-Pacific Online Transcription Tools Market by Type
9.3.5.6.2 Rest of Asia-Pacific Online Transcription Tools Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Online Transcription Tools Market Overview
9.4.2 Middle East and Africa Online Transcription Tools Market Forecasts and Analysis
9.4.3 Middle East and Africa Online Transcription Tools Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Online Transcription Tools Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Online Transcription Tools Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Online Transcription Tools Market
9.4.5.1.1 South Africa Online Transcription Tools Market by Type
9.4.5.1.2 South Africa Online Transcription Tools Market by Application
9.4.5.2 Saudi Arabia Online Transcription Tools Market
9.4.5.2.1 Saudi Arabia Online Transcription Tools Market by Type
9.4.5.2.2 Saudi Arabia Online Transcription Tools Market by Application
9.4.5.3 U.A.E Online Transcription Tools Market
9.4.5.3.1 U.A.E Online Transcription Tools Market by Type
9.4.5.3.2 U.A.E Online Transcription Tools Market by Application
9.4.5.4 Rest of Middle East and Africa Online Transcription Tools Market
9.4.5.4.1 Rest of Middle East and Africa Online Transcription Tools Market by Type
9.4.5.4.2 Rest of Middle East and Africa Online Transcription Tools Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Online Transcription Tools Market Overview
9.5.2 South and Central America Online Transcription Tools Market Forecasts and Analysis
9.5.3 South and Central America Online Transcription Tools Market Forecasts and Analysis - By Type
9.5.4 South and Central America Online Transcription Tools Market Forecasts and Analysis - By Application
9.5.5 South and Central America Online Transcription Tools Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Online Transcription Tools Market
9.5.5.1.1 Brazil Online Transcription Tools Market by Type
9.5.5.1.2 Brazil Online Transcription Tools Market by Application
9.5.5.2 Argentina Online Transcription Tools Market
9.5.5.2.1 Argentina Online Transcription Tools Market by Type
9.5.5.2.2 Argentina Online Transcription Tools Market by Application
9.5.5.3 Rest of South and Central America Online Transcription Tools Market
9.5.5.3.1 Rest of South and Central America Online Transcription Tools Market by Type
9.5.5.3.2 Rest of South and Central America Online Transcription Tools Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. ONLINE TRANSCRIPTION TOOLS MARKET, KEY COMPANY PROFILES
11.1. TRINT LIMITED
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. GENGO, INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. TRANSCRIBE (WREALLY LLC)
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. GOTRANSCRIPT LIMITED
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. DESCRIPT
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. HAPPY SCRIBE LTD.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. TEMI
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. TRANSCRIBEME
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. TOMEDES
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SONIX, INC
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.Trint Limited
2.Gengo, Inc.
3.Transcribe (Wreally LLC)
4.GoTranscript Limited
5.Descript
6.Happy Scribe Ltd.
7.Temi
8.TranscribeMe
9.TOMEDES
10.Sonix, Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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