Transcription is a process in which either live or a recorded speech is converted into written document or an electronic text document. Marketing transcription services are often provided for legal, medical or any other business purposes. Nowadays, marketing transcription has become much easier. A recording device is used to record the sound or a speech, then that recording can be uploaded to a PC, or to a cloud storage or can be emailed to someone anywhere in the world. The transcriptionist can replay the audio or video multiple times. Moreover, the sound can be equalized, filtered or even the tempo can be adjusted if the clarity of sound is very poor. Thus the transcription can be done within few hours and the transcribed document can be printed out, incorporated with other documents or even can be emailed back.
Marketing transcription is gaining more and more popularity in recent years as people have started consuming videos in place of images or other readable formats. To make your marketing transcription more attractive and in order that it gains more attention, the marketing transcription should be more engaging and should be able to connect to as much audience as possible. As the audience comprises of people with language difficulties and also hard of hearing or deaf people. So attaching transcripts or captions to the marketing transcription can help to engage or to reach out to such audience.
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Global Marketing Transcription Market: Dynamics
The marketing transcription helps in understanding of the actual content more accurate and better, and work as interactive marketing tool by leading visitors straight to the site. Thus it is one of the major feature driving the adoption of the marketing transcription market. During any product launch event, meetings, conferences or seminars there is no staff dedicated to make note of the proceedings of the events nor the members of the proceedings are able to do it themselves. Thus the audio of such events is recorded and sent to a reliable transcription services provider for transcription which is another factor fueling the growth of marketing transcription market.
However, sometimes during the meetings some confidential topics or details are discussed among the members, which cannot be shared to any third party service providers, which is one of the major challenge hindering the growth of marketing transcription market.
Global Marketing Transcription Market: Segmentation
The global Marketing Transcription market can be segmented on the basis of organization size, mode of procurement, end-user and region.
Marketing Transcription Market, by organization size
- Small & medium enterprise
- Large enterprise
Marketing Transcription Market, by mode of procurement
- Outsourcing
- Offshoring
- Both
Marketing Transcription Market, by end user
- Media & Entertainment
- IT & Telecom
- BFSI
- Retail & consumer goods
- Others
Global Marketing Transcription Market: Competition Landscape
Key Developments
In August 2016, TranscribeMe announced new low cost transcription solution. With this brand new service TranscribeMe offers lowest prices with rapid turnaround time. This new First Draft Transcription service allows fast transcription of any volume at affordable prices. So hundreds of crowd workers collaborate on First Draft Transcription platform to offer fastest human verifies transcription in an innovative way.
Key Vendors
Examples of some of the market participants in the global marketing transcription market identified across the value chain include Crimson Interactive Inc., Digital Nirvana Inc., 3Play Media, and TranscribeMe Inc.
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Global Marketing Transcription Market: Regional Outlook
Geographically, the marketing transcription market can be segmented into North America, Western Europe, Latin America, Eastern Europe, Asia Pacific excluding Japan (APEJ), Middle East and Africa (MEA), and Japan.
North America contributes the highest share of marketing transcription market as in developed economies such as U. S. and Canada, there is high adoption of the marketing transcription across the major industries.
Asia Pacific is anticipated to exhibit high growth in marketing transcription market during the forecast period as some of Asian countries are some of the leading hubs for offshoring of marketing transcription services.