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Please provide a competitive landscape for the court reporting/transcription industry.
Hello! Thanks for your question about the competitive landscape of the court reporting/transcription industry. The short version is that four of the top companies are Diversified Reporting Services, Neal R. Gross & Co., Free State Reporting, and the Social Security Administration. Below you will find a deep dive of my findings.
METHODOLOGY
In order to compile the list of companies, a report from the North American Industry Classification System served as the starting point. It identified the top ten companies servicing government contracts for court reporting and transcription. From there the top four were further analyzed through the competitive landscape spreadsheet, located here.
GENERAL TRENDS
Court reporting in US is a $2.4 billion industry and is forecasted to remain stable until 2020. A skilled labor shortage is predicted for the next few years, with a shortage of 5,500 court reporters predicted for 2018. Government agencies hold over 91% of the total market share in the industry; however there is increased demand from various private industries for court reporting. That information coupled with the shortage of skilled labor shows that this industry is generally highly competitive but stable.
CONCLUSION
To wrap it up, four of the top companies offering court reporting and transcription are Diversified Reporting Services, Neal R. Gross & Co., Free State Reporting, and the Social Security Administration. Thanks for using Wonder! Please let us know if we can help with anything else!