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Companies in this industry store an organization's physical documents and provide related services as such document classification, organization, and destruction; some companies also store electronic documents. Major companies include Iron Mountain, Merrill, Novitex, EDM, and Databank (all based in the US), as well as Wanbishi Archives (Japan) and Williams Lea Group (the UK).
The global information and records management services industry generates about $25 billion in annual revenue, according to procurement services provider GEP. Top regions for growth include emerging markets in central and eastern Europe, Latin America, and the Asia/Pacific region.
The US specialized warehousing and storage industry, which includes information and records management services, consists of about 2,400 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $6.5 billion.
Demand is driven by the needs of business customers to store and manage increasing amounts of data, including satisfying requirements for regulatory compliance. The profitability of individual companies depends on efficient operations. Large companies have advantages in obtaining space in multiple locations and in offering customers a broader product line of integrated services. Small companies can compete effectively by specializing in niche markets, such as health care information management. The US specialized warehousing and storage industry is highly concentrated: the top 50 companies account for more than 80% of revenue.
Companies face competition from current and potential customers' internal storage and information management capabilities. Many ...
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