Court Reporting Services in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: January 2024
NAICS OD6271
Spotlight Report Revenue
$4.2bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
44,120
Businesses
37,337
Wages
$X.Xbn
Court Reporting Services in the US industry analysis
Court reporters derive demand from a myriad of sectors in the economy. The primary driver of demand, however, comes from the business and banking sectors. These downstream markets comprise well over eighty percent of the demand for court reporting services,, these two markets are highly indicative of industry performance in a given year. COVID-19 disruptions caused several issues for court reporters. In many industries, COIVD closures meant that businesses held off on mergers and acquisition moves, which would slow demand from the business sector. On that same note, a slowdown in business ventures also harmed banking institutions, causing them to pull back on advisory roles on deals. This chain of events led to a severely diminished demand for court reporters in 2020. A stable stream of demand came in the form of online government hearings. During the same year, the local, state and national courts stayed busy by hosting online trials, keeping court reporters employed as a result. Despite this spark of hope, revenue generated by court reporters services is still expected to fall at an annualized CAGR of 2.0% to $4,166.5 million over the five years to 2024, with a 4.7% decrease during the year, when profit is expected to fall to 10.6%.
Trends and Insights
- The United States is currently experiencing a significant shortage in court reporters, which has been further magnified by the pandemic.
- The stenography industry is still dominated by traditional physical stenography services despite a scare in the 2010s about the reliability of audio recording systems.
- Court reporters compete on a skill and quality based platform, making quality and accuracy the most important factors for operators.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 2.0 % over the past five years, to reach an estimated $4.2bn in 2024.
Trends and Insights
Court Reporter Shortage in the US
- The United States is currently facing a critical shortage of court reporters, according to Law360, with the newest estimates totaling a shortage of 12,000 reporters.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Potential Impact of AI on Court Reporting Services Industry
- To date, the Court Reporting Services industry has experienced sparse technological changes. However, the rise in the influence of artificial intelligence (AI) may disrupt this trend. Workers in this sector face possible unemployment as AI technologies become more advanced and normalized within businesses.
Biggest companies in the Court Reporting Services in the US
There are no companies that hold a large enough market share in the Court Reporting Services in the US industry for IBISWorld to include in this product.
Products & Services Segmentation
Court Reporting Services in the US
Products & Services
Industry revenue is measured across several distinct product and services lines, including Stenography services, Typing, document services and editing and Other services. Stenography services is the largest segment of the Court Reporting Services in the US.
Trends and Insights
Stenography services dominate the industry
- Stenographic services refer to the physical act of sitting in a courtroom and recording the dialogue of a case, utilizing a steno machine and the shorthand language used by stenographers.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Law Firms in the US
- Translation Services in the US
- Document Preparation Services in the US
- Business Service Centers in the US
International industries
- There are no industries to display.
Table of Contents
About this industry
Industry definition
Operators in this industry provide verbatim reporting and stenotype recordings of live legal proceedings, transcribing subsequent recorded materials.
What's included in this industry?
Courtroom transcriptionStenographyDocument processing, typing and editing servicesCompanies
Purchase this report to view all major companies in this industry.
Related Terms
STENOGRAPHERSTENO MACHINEARTIFICIAL INTELLIGENCE (AI)Industry Code
NAICS 561410 - Court Reporting Services in the US
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
The United States is currently experiencing a significant shortage in court reporters, which has been further magnified by the pandemic.
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
- Factors that influence volatility in the industry
- Key success factors for businesses to overcome volatility
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The stenography industry is still dominated by traditional physical stenography services despite a scare in the 2010s about the reliability of audio recording systems.
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
Purchase this report to unlock analyst insights.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- 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
Court reporters compete on a skill and quality based platform, making quality and accuracy the most important factors for operators.
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
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Court reporters must be well read on state, local and national court laws as the services they provide rely on knowing the state laws surrounding court room proceedings.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Nonemployers remain predominant in this industry and they retain stable profits. Although the overall profit figures for the period remain consistent, wages continue to show ...
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
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- 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)
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 US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
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.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Court Reporting Services in the US industry in United States in 2024?
The market size of the Court Reporting Services in the US industry in United States is $4.2bn in 2024.
How many businesses are there in the Court Reporting Services in the US industry in 2024?
There are 37,337 businesses in the Court Reporting Services in the US industry in United States, which has declined at a CAGR of 0.0 % between 2019 and 2024.
Has the Court Reporting Services in the US industry in United States grown or declined over the past 5 years?
The market size of the Court Reporting Services in the US industry in United States has been declining at a CAGR of 2.0 % between 2019 and 2024.
What is the forecast growth of the Court Reporting Services in the US industry in United States over the next 5 years?
Over the next five years, the Court Reporting Services in the US industry in United States is expected to decline.
What does the Court Reporting Services in the US in United States include?
Courtroom transcription and Stenography are part of the Court Reporting Services in the US industry.
How competitive is the Court Reporting Services in the US industry in United States?
The level of competition is low and increasing in the Court Reporting Services in the US industry in United States.
