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Document Management Services in the UK - Market Research Report (2014-2029)

Timilehin Atere Timilehin Atere London, United Kingdom Last Updated: August 2024 SIC SP0.165

Revenue

£1.3bn

2024-25

£1.3bn

Past 5-Year Growth

Profit

£XXX.Xm

Employees

14,940

Businesses

1,319

Wages

£XXX.Xm

Document Management Services in the UK industry analysis

Document management services in the UK streamline how businesses handle their records and data. These services range from digitising paper documents to secure storage and easy retrieval of files. Key drivers include technological advancements, regulatory requirements, government expenditure and growing business demands for efficiency and security. 

Trends and Insights

  • Demand for digital document management is fluctuating. While the shift to hybrid and remote work boosted digitalisation, the return to office work and concerns over cyber-attacks have sustained demand for physical document management, impacting industry revenue trends.
  • Rising manufacturing output is increasing demand for document management. Higher production levels generate more reports and compliance documents, requiring efficient solutions to maintain quality and traceability, as highlighted by the S&P Global Manufacturing PMI's growth to 51.8 in July 2024.
  • The UK’s business hub offers plenty of sales opportunities. High business activity and the offices of many government departments mean London offers a huge potential client pool for document management service providers – that’s why it has so many of them.
  • In-house provision remains a key threat. Most businesses are more than capable of storing and handling their own documents, with many preferring to do so to avoid the added costs. However, the convenience outsourcing offers means it’s gaining momentum.

Access hundreds of analysis and data

  • Market estimates from 2014-2029
  • Critical performance data and rankings
  • Detailed analysis of competitive forces and the external environment
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Industry Statistics and Trends

Market size and recent performance (2014-2029)

Industry revenue has declined at a CAGR of 0.1 % over the past five years, to reach an estimated £1.3bn in 2024.

Trends and Insights

The public sector continues to be a key driver for industry development

  • The public sector continues to be a key driver in developing the industry because the government outsources many activities to private businesses.
  • Additional trends and insights available with purchase
Document Management Services in the UK
Revenue (2014-2029)
IBISWorld Logo Source: IBISWorld

Industry outlook (2024-2029)

Market size is projected to grow over the next five years.

Trends and Insights

Economic stability and anticipation of interest rate cuts will increase revenue performance

  • Improved economic conditions can dictate revenue performance for the document management device industry in the UK.

Biggest companies in the Document Management Services in the UK

Company
Market Share (%)
2025
Revenue (£m)
2025
Iron Mountain (UK) plc
239.4
Restore plc
220.6
Shred-it Ltd
61.2

To view the market share and analysis for all 5 top companies in this industry, view purchase options.

Products & Services Segmentation

Document Management Services in the UK
Products & Services
IBISWorld Logo Source: IBISWorld

Industry revenue is measured across several distinct product and services lines, including Document storage and filing, Document destruction and Digitalisation and scanning. Document storage and filing is the largest segment of the Document Management Services in the UK.

Trends and Insights

Document storage and filing provide a steady stream of revenue

  • Document storage and filing services include the storage of inactive physical documents, like paper documents, blueprints, tapes, X-rays and company records.
  • More insights available in the full report

Table of Contents

About this industry

Industry definition

Companies in this industry provide document management services to other businesses and government clients. Services include document storage, record management and secure document destruction.

What's included in this industry?

Document storageDocument filingDigitalisation and scanningDocument destruction

Companies

Iron Mountain (UK) plcRestore plcShred-it Ltd

Purchase this report to view all 5 major companies in this industry.

Related Terms

DIGITALISATIONARCHIVINGDOCUMENT DESTRUCTION

Industry Code

SIC 2007

SIC 82.19 - Document Management Services in the UK

Performance

Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.

Analyst insights

Demand for digital document management is fluctuating. While the shift to hybrid and remote work boosted digitalisation, the return to office work and concerns over cyber-att...

In this chapter (4)

  • Current Performance
  • Outlook
  • Volatility
  • Life Cycle

Key metrics

  • Annual Revenue, Recent Growth, Forecast, Revenue Volatility
  • Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
  • Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
  • Total Profit, Profit Margin, Profit per Business

Charts

  • Revenue, including historical (2014-2023) and forecast (2024-2029)
  • Employees, including historical (2014-2023) and forecast (2024-2029)
  • Businesses, including historical (2014-2023) and forecast (2024-2029)
  • Profit, including historical (2014-2024)
  • Industry Volatility vs. Revenue Growth
  • Industry Life Cycle

Detailed analysis

  • Trends in supply, demand and current events that are driving current industry performance
  • Expected trends, economic factors and ongoing events that drive the industry's outlook
  • Key success factors for businesses to overcome volatility
  • How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.

Products and Markets

Learn about an industry's products and services, markets and trends in international trade.

Analyst insight

Rising manufacturing output is increasing demand for document management. Higher production levels generate more reports and compliance documents, requiring efficient solutio...

In this chapter

  • Products & Services
  • Major Markets

Key metrics

  • Largest market segment and value in 2024
  • Product innovation level

Charts

  • Products & services segmentation in 2024
  • Major market segmentation in 2024

Detailed analysis

  • Trends impacting the recent performance of the industry's various segments
  • Innovations in the industry's product or service offering, specialization or delivery method
  • Key factors that successful businesses consider in their offerings
  • Buying segments and key trends influencing demand for industry products and services

Geographic Breakdown

Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.

Analyst insights

The UK’s business hub offers plenty of sales opportunities. High business activity and the offices of many government departments mean London offers a huge potential client p...

In this chapter (1)

  • Business Locations

Charts

  • Share of revenue, establishment, wages and employment in each region
  • Share of population compared to establishments in each region in 2024

Tables

  • Number and share of establishments in each region in 2024
  • Number and share of revenue each region accounts for in 2024
  • Number and share of wages each region accounts for in 2024
  • Number and share of employees in each region in 2024

Detailed analysis

  • Geographic spread of the industry across Europe, and trends associated with changes in the business landscape
  • Key success factors for businesses to use location to their advantage

Competitive Forces

Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.

Analyst insights

In-house provision remains a key threat. Most businesses are more than capable of storing and handling their own documents, with many preferring to do so to avoid the added c...

In this chapter (4)

  • Concentration
  • Barriers to Entry
  • Substitutes
  • Buyer & Supplier Analysis

Key metrics

  • Industry concentration level
  • Industry competition level and trend
  • Barriers to entry level and trend
  • Substitutes level and trend
  • Buyer power level and trend
  • Supplier power level and trend

Charts

  • Market share concentration among the top 4 suppliers from 2019-2024
  • Supply chain including upstream supplying industries and downstream buying industries, flow chart

Detailed analysis

  • Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
  • Key success factors for businesses to manage the competitive environment of the industry.
  • Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
  • Key success factors for potential entrants to overcome barriers to entry.
  • Competitive threats from potential substitutes for the industry’s own products and services.
  • Key success factors for how successful businesses can compete with substitutes.
  • Advantages that buyers have to keep favorable purchasing conditions.
  • Advantages that suppliers have to maintain favorable selling conditions.
  • Key success factors for how businesses can navigate buyer and supplier power.

Companies

Learn about the performance of the top companies in the industry.

Analyst insights

New facilities signal Iron Mountain's growth. In 2024, Iron Mountain plans to expand its capacity by adding three new facilities, reflecting its strategy to meet increasing c...

In this chapter

  • Market Share Concentration
  • Companies
  • Company Spotlights

Charts

  • Industry market share by company in 2020 through 2024
  • Major companies in the industry, including market share, revenue, profit and profit margin in 2024
  • Overview of Iron Mountain (UK) plc's performance by revenue, market share and profit margin from 2018 through 2024
  • Overview of Restore plc's performance by revenue, market share and profit margin from 2018 through 2024
  • Overview of Shred-it Ltd's performance by revenue, market share and profit margin from 2018 through 2024
  • Overview of revenue, market share and profit margin trend for 2 additional companies

Detailed analysis

  • Description and key data for Iron Mountain (UK) plc, and factors influencing its performance in the industry
  • Description and key data for Restore plc, and factors influencing its performance in the industry
  • Description and key data for Shred-it Ltd, and factors influencing its performance in the industry
  • Description, key data and performance trends for 2 additional companies

External Environment

Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.   

Analyst insights

GDPR drives up demand. With businesses being forced to comply with people's wishes to not have their data on record, document destruction skyrocketed in 2018, with businesses...

In this chapter

  • External Drivers
  • Regulation & Policy
  • Assistance

Key metrics

  • Regulation & policy level and trend
  • Assistance level and trend

Charts

  • Regulation & Policy historical data and forecast (2014-2029) 
  • Assistance historical data and forecast (2014-2029) 

Detailed analysis

  • Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
  • Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
  • Key governmental and non-governmental groups or policies that may provide some relief for industry operators.

Financial Benchmarks

View average costs for industry operators and compare financial data against an industry's financial benchmarks over time. 

Analyst insights

Profit depends on the size of the operations. Bigger companies offering high-value services (like secure vault storage) will be more profitable than smaller ones offering bas...

In this chapter

  • Cost Structure
  • Financial Ratios
  • Key Ratios

Key metrics

  • Profit margin, and how it compares to the sector-wide margin
  • Average wages, and how it compares to the sector-wide average wage
  • Largest cost component as a percentage of revenue
  • Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio

Charts

  • Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
  • Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
  • Investment vs. share of economy

Data tables

  • Liquidity Ratios (2018-2022)
  • Coverage Ratios (2018-2022)
  • Leverage Ratios  (2018-2022)
  • Operating Ratios (2018-2022)
  • Assets (2018-2022)
  • Liabilities (2018-2022)
  • Cash Flow & Debt Service Ratios (2014-2029)
  • Revenue per Employee (2014-2029)
  • Revenue per Enterprise (2014-2029)
  • Employees per Establishment (2014-2029)
  • Employees per Enterprise (2014-2029)
  • Average Wage (2014-2029)
  • Wages/Revenue (2014-2029)
  • Establishments per Enterprise (2014-2029)
  • IVA/Revenue (2014-2029)
  • Imports/Demand (2014-2029)
  • Exports/Revenue (2014-2029)

Detailed analysis

  • Trends in the cost component for industry operators and their impact on industry costs and profitability 

Key Statistics

Industry Data

Data Tables

Including values and annual change:

  • Revenue (2014-2029)
  • IVA (2014-2029)
  • Establishments (2014-2029)
  • Enterprises (2014-2029)
  • Employment (2014-2029)
  • Exports (2014-2029)
  • Imports (2014-2029)
  • Wages (2014-2029)

Top Questions Answered

Unlock comprehensive answers and precise data upon purchase. View purchase options.

What is the market size of the Document Management Services in the UK industry in United Kingdom in 2024?

The market size of the Document Management Services in the UK industry in United Kingdom is £1.3bn in 2024.

How many businesses are there in the Document Management Services in the UK industry in 2024?

There are 1,319 businesses in the Document Management Services in the UK industry in United Kingdom, which has grown at a CAGR of 1.0 % between 2019 and 2024.

Has the Document Management Services in the UK industry in United Kingdom grown or declined over the past 5 years?

The market size of the Document Management Services in the UK industry in United Kingdom has been declining at a CAGR of 0.1 % between 2019 and 2024.

What is the forecast growth of the Document Management Services in the UK industry in United Kingdom over the next 5 years?

Over the next five years, the Document Management Services in the UK industry in United Kingdom is expected to grow.

What are the biggest companies in the Document Management Services in the UK market in United Kingdom?

The biggest companies operating in the Document Management Services market in United Kingdom are Iron Mountain (UK) plc, Restore plc and Shred-it Ltd

What does the Document Management Services in the UK in United Kingdom include?

Document storage and Document filing are part of the Document Management Services in the UK industry.

Which companies have the highest market share in the Document Management Services in the UK in United Kingdom?

The company holding the most market share in United Kingdom is Iron Mountain (UK) plc.

How competitive is the Document Management Services in the UK industry in United Kingdom?

The level of competition is moderate and increasing in the Document Management Services in the UK industry in United Kingdom.

Related Industries

Widen your competitive advantage with related industries

Competitors

  • Warehousing & Storage in the UK
  • Document Preparation Services in the UK

Complementors

  • Freight Road Transport in the UK
  • Removal Services in the UK

International industries

  • Specialized Storage & Warehousing in the US
  • General Warehousing & Storage in Canada
  • General Warehousing and Cold Storage in Australia
  • Warehousing and Storage Services in New Zealand
  • Warehousing & Storage in Ireland

View all industries in United Kingdom

Methodology

How are IBISWorld reports created?

IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.

Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.

IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.

What data sources do IBISWorld analysts use?

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.

Key data sources in the UK include:

  • Office for National Statistics
  • Office for Budget Responsibility
  • Bank of England

Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.

These sources include:

  • Industry and trade associations
  • Industry federations or regulators
  • Major industry players annual or quarterly filings

Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.

How does IBISWorld forecast its data?

IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.

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