Enterprise Content Management Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2019 - 2025
With the advent of digital tools, several enterprises are adopting cost-effective, eco-friendly, and automated file and document management services to restrict the loss of information and usage of paper. Enterprise content management (ECM) provides a new arena for establishing an effective relationship between entrepreneurs and customers through automated processes for monitoring and structurally organizing various official contents. With scope for preserving and archiving necessary documents for future reference facilitating e-file services without the risk of being lost, enterprise content management is gaining wide acclamation globally. Along with record management (ECRM), cloud computing services, enterprise content management solutions increase the productivity in work procedures with a well-track of contents. Owing to the increasing demand for high-quality enterprise content management software the global ECM market experienced notable opportunities worth $34.64 billion in the year 2018. The CAGR for this increased demand is evaluated to grow at 15.89% through to 2025.
With well-established IT community and newer innovation in software development offers a promising future for various businesses in the United States. As a hallmark of technological advancement, North American business market is going green by widely adopting cloud-based enterprise content management system which offers data security, document management and collaboration record and web content management, and many more features. North America held a regional share of 38.67% as of 2018. Banking, financial services and insurance (BFSI) industry generates the largest demand pull on the global enterprise content management market which is projected to grow at a considerable CAGR of 19.37% during the forecast period of 2019-2025.
Enterprise Content Management Market Growth Drivers:
· Facilitating secure data and document storage, ECM market growth is majorly influenced by various industrial sectors such as IT and telecom, healthcare and BFSI industry, and government facilities.
· With a higher preference for paperless documentation and increasing globalization also encourages the ECM market demand leading to huge revenue generation.
Enterprise Content Management Market Key Players:
The global enterprise content management market leaders includes Dell EMC, Microsoft, Oracle, Alfresco, Newgen, Laserfiche, HP, Opentext, Hyland, IBM, Xerox, M-Files, and others.
Microsoft and Oracle are among the leading IT companies in the world. These two multinational technology companies have collaborated together to offer cloud computing services with greater flexibility for their customers. They provide a wide range of services such as content organization, publication, management, and conversion through features such as Digital Asset Manager, Site Studio Publishing Utility, Content Tracker, SharePoint, and many more.
Enterprise Content Management Market Trends:
· To ensure workflow automations along with cost-effective data storage, access, and scalability performance, ECM collaborates with AI techniques to offer time efficient solutions as well as multi-user interface due to cloud services.
· Moreover, with the benefits of artificial intelligence companies will be able to reduce their expenditure on in-house or outsourced R&D methods. This plays a vital role in shaping the modern content market globally.
Enterprise Content Management Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Enterprise Content Management market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Enterprise Content Management in Enterprise Content Management market, and their specific applications in different areas.
Enterprise Content Management Market: Industry Coverage:
The global enterprise content management market can be segmented by solution, service, deployment type, organization size, business function, and vertical. Bifurcation on the basis of solution includes content workflow, document management, imaging and capturing, web content management, records management, digital asset management, mobile content management, case management, and e-discovery. Service categorization includes implementation services, training and education, support and maintenance, and others. By deployment type, this market can be divided into cloud and on-premises. Based on organization size segmentation includes small and medium-sized enterprises and large enterprises. Business function classification includes accounts and finance, human resources, supply chain management, operations, marketing, and so on. Sub segments under vertical comprises banking, financial services, and insurance, government, manufacturing, telecom and IT, consumer goods and retail, healthcare and life sciences, energy and utilities, transportation and logistics, and others.
The Enterprise Content Management market also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study includes:
North America: The U.S., Canada, Mexico
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
Middle East and Africa: Israel, South Africa, Saudi Arabia
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