Information & Records Management Services Industry Profile

Companies in this industry store an organization's physical documents and provide related services. Major companies include Exela Technologies, and Iron Mountain (all based in the US); Restore Digital and Williams Lea (both based in the UK); and Wanbishi Archives (Japan).

The global enterprise data management services industry generates about $90 billion in annual revenue, according to Grand View Research. The North America dominates the market for data management services, followed by the UK, China, Japan, and South Korea.

The US specialized warehousing and storage industry, which includes information and records management services, consists of about 2,700 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $7.5 billion.

COMPETITIVE LANDSCAPE

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 nearly 80% of revenue.

Companies face competition from current and potential customers' internal storage and information management capabilities. Many businesses use their own resources rather than hire an outside company for information management services.