Business Transcription market size is expected to reach USD 6.73 Billion at a steady revenue CAGR of 14.4% in 2028.The Business Transcription record focuses on modern and future market growth, technological advancements, volume, raw materials, and profiles of the important thing businesses involved in the market. The record provides valuable insights to the stakeholders, investors, product managers, advertising and marketing executives, and other industry professionals.

Business Transcription includes transcription of video or audio content arising from webinars, interviews, workshops, teleseminars, seminars teleclasses, meeting notes, personal notes, presentations, conferences, and others that are used for professional or commercial purposes or objectives. Some organizations are reluctant to adopt the technology due to privacy issues. Various business organizations are taking precautions by signing contracts and agreements to reduce risks of data breach and to protect credibility and security of their respective firms. Professional firms follow stringent measure such as monthly backups, password protected computers, secure file transfer and others.

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Further key findings from the report suggest

• In January 2021, Otter.ai launched live notes and captions for 100 million daily users for Google Meet. Users can complete easy and quick installation of Chrome extension and Otter.ai customers can use the integration to access a live, interactive, and secure transcript directly from a Google Meet call, and can also use live captions.
• It is more economical and advantageous for businesses to outsource their transcription requirements. This eliminates the need to train or hire employees specifically for this requirement. Moreover, outsourcing also allows businesses to tap into expertise of transcribers who specialize in different subjects and ensure accuracy of transcription. Even though transcription is important, the process is time-consuming. Outsourcing provides access to highly qualified transcribers who are adept at dealing and recognizing various accents and pronunciation. Outsourcing also helps in reducing burden on current employees and offers access to more qualitative work and outcomes.
• Software segment accounted for a significantly larger revenue share than the other component segments in 2020 as software is essential and also allows users to upload video or audio files and outputs a transcribed document of what was mentioned in a meeting. The software transcribes every word without leaving any doubt for double guessing exact figures or what was said.

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Report Objective:

The report offers a complete analysis of the global Business Transcription market with details about each market player including company profile, financial standing, global position, revenue contribution, production and manufacturing capacity, business expansion plans, and new product launches. Key players are strategizing various plans such as MA acquisition, partnerships, joint ventures, license agreement and collaborations. Digital Nirvana Inc., Tech-Synergy, 3Play Media, NCH Software, Focus Forward, Crimson Interactive Inc., Voice Products Inc., RndSofttech.com, TranscribeMe Inc., and Indoswift. and others are some of the top companies profiled in the report.

The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.

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Emergen Research has segmented the global Business Transcription market on the basis of component, procurement type, enterprise, end-use, and region:

Component Outlook (Revenue, USD Billion; 2018–2028)

• Software
• Services
• Tools
  1. Technology-Powered
  2. Human-Powered

Procurement Type Outlook (Revenue, USD Billion; 2018–2028)

• Outsourcing
• Offshoring
• Both

Enterprise Outlook (Revenue, USD Billion; 2018–2028)

• Large Enterprises
• Small Medium Sized Enterprises

End-use Outlook (Revenue, USD Billion; 2018–2028)

• IT Telecom
• Media Entertainment
• BFSI
• Retail Consumer Goods
• Manufacturing
• Others

Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa.

The report addresses the following key points:

• The report provides a forecast of market drivers, restraints, and future opportunities for the Business Transcription market
• The report further analyses the changing market dynamics
• Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
• Extensive competitive landscape mapping with profiles of the key competitors
• In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
• Revenue forecast, country scope, application insights, and product insights

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