The global transcription market is valued at $2.5 billion in 2024 and will apparently reach $5.6 billion by 2033, as this Verified Market Reports study shows. Podcasting is expanding at a 15.3% CAGR, creating rising demand for compliant transcripts.

Enterprise teams face strict requirements that make transcription a critical function. HIPAA (Health Insurance Portability and Accountability Act) and WCAG (Web Content Accessibility Guidelines), for example, set high standards for accuracy and accessibility.

And genuinely, global audiences require multilingual support to meet inclusion and compliance obligations.

Key challenges include:

• Compliance violations if you have inaccurate or missing transcripts

• Security and privacy concerns with external vendors

• The need for 99%+ accuracy, speaker identification, timestamps, and language support

• Scaling transcripts across multiple shows and episodes without overloading internal teams

Selecting the right transcription partner ensures compliance, protects sensitive data, and supports large-scale podcast operations.

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