Transcriptions in the U.S. are booming! The expected compound annual growth rate (CAGR) of transcription business is 6.1% from 2020 to 2027 from the baseline of 2019, making USD 19.8 billion. What makes it such a vibrant business, and should you start using it? Check out this blog post, learn benefits and claim 10% off your next transcription service at Go Transcript using promo code promo10! Medical transcriptions have the most significant market share, and they will retain their dominance.
Medical services are expensive; the staff is costly and busy. Therefore this field is ideal for outsourced transcription services. It helps the medical organizations be more effective, more accurate in their operations, and focus on their primary objectives in providing health care services. Learn more about the benefits and opportunities of medical transcriptions by reading our blog post on A Great Way to Improve Medical Staff and Organization Effectiveness.
Legal is the 2nd largest vertical in the transcriptions market. Accuracy and searchability in legal proceedings and other procedures enable legal offices to work with information exceptionally quickly, notice essential bits of information and generate institutional knowledge. No wonder many legal offices and legislature institutions take notice of transcription services and use it ever increasingly. Learn more about why it is worthwhile to use legal transcriptions in our blog post on 4 Benefits of Legal Transcriptions.
Media and entertainment benefit from transcriptions a lot. The benefits primarily cover SEO and accessibility. SEO-wise captioned video or transcribed podcast makes the content easier to find by online search. This yields more views, more interest, and more success to the released content. Having captions or transcriptions also makes the content more accessible for people with disabilities. This accessibility also provides additional formats to follow the content for the larger audience by proposing a more diverse set of information coverage. Are you interested in how it all works? Please read one of our blog entries on How to Improve SEO with Podcast Transcriptions.
These are very few examples of how online transcription services may help businesses and creative initiatives.
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