The enterprise content management market size is anticipated to expand at a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to rising demand for automated workflows for document creation, editing, and publication increase corporate operations, and cooperation among employees.
Enterprise content management grows on the concept of content management by including a timeline for each piece of content and in some cases, enforcing processes for establishment, authorization, and distribution. ECM systems provide a safe storage for controlled goods, whether analogue or digital.
The efficacy of an enterprise content management system and platform stems from the fact that it is designed to handle all aspects of content production, storage, multiple versions, delivery, archive, and disposal all in accordance with regulated laws and corporate rules.
From commercial supply chains to contract management, HR operations to government administration, the goal of installing an ECM system is to improve corporate efficiency and save costs.
Banks and financial institutions have huge volumes of consumer and transactional data on hand, this software may be utilized to assess trends in data and detect irregularities.
The COVID-19 epidemic puts a halt to business as usual and serves as a springboard for firms to become more virtual, digitally focused, and agile.
Market Trends, Drivers, Restraints, and Opportunities
- Factors such as growing innovations, wide usage of artificial intelligence, and machine learning are anticipated to propel the market in coming years.
- Rising digitalization is expected to fuel the market during the forecast period.
- Increasing use of internet and rising number of mobile users are resulting in a growth in the production of digital documents.
- Rapid growth in the requirement for regulatory compliance, and the necessity to secure company data against disaster are major factors boosting the market in the coming years.
- High licensing and support cost are estimated to hamper the market expansion.
- Data breach and data leaks are expected to hamper the market growth.
Scope of the Report
The report on the enterprise content management market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Enterprise Content Management Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Deployments (On-premise and Cloud), Solutions (Enterprise Document Imaging, Enterprise Document Management, Enterprise Records Management, Enterprise Web Content Management, Capture, Enterprise Content Workflow Management, Digital Asset Management, and Others), Services (Professional and Managed), Organization Sizes (Small & Medium Enterprises and Large Enterprises), End-user Industries (Energy & Power, Manufacturing, Medical & Healthcare, Banking & finance, IT &Telecom, Retail, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
OpenText Corporation; IBM Corporation; Oracle Corporation; Capgemini SE; Xerox Corporation
Enterprise Content Management Market Segment Insights
The cloud segment is projected to hold a large market share
Based on deployments, the enterprise content management market is bifurcated into on-premise and cloud. The cloud segment is expected to account for a key share of the market during the forecast period owing to cost-effective, flexible, and easy to manage.
The enterprise records management segment is expected to grow at a robust pace
On the basis of solutions, the enterprise content management market is divided into enterprise document imaging, enterprise document management, enterprise records management, enterprise web content management, capture, enterprise content workflow management, digital asset management, and others. The enterprise records management segment is expected to represent a key share of the market in the coming years due to companies rising demand for data or content management in various departments such as sales, human resources, operation and others.
The professional segment is anticipated to register rapid CAGR
In terms of services, the enterprise content management market is divided into professional and managed. The professional segment is expected to constitute a key share of the market during the forecast period due to high demand for expert teams for effectively managing resources.
The large enterprises segment is expected to grow at a rapid pace
On the basis of sizes, the enterprise content management market is segmented into small & medium enterprises and large enterprises. The large enterprises segment is expected to grow at a rapid pace during the forecast period due to rising investment in advanced technologies to leverage their market position.
The banking & finance segment is projected to represent major market share
Based on end-user industries the enterprise content management market is divided into energy & power, manufacturing, medical & healthcare, banking & finance, it &telecom, retail, and other end-users. The banking & finance segment is expected to constitute a key share of the market in the coming years owing to modernization and development in finance operation.
North America is anticipated to dominate the market
On the basis of regions, the enterprise content management market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period. The regional market growth can be attributed to advances in content management technology and also a high internet penetration rate.
The enterprise content management market has been segmented on the basis of
- Enterprise Document Imaging
- Enterprise Document Management
- Enterprise Records Management
- Enterprise Web Content Management
- Enterprise Content Workflow Management
- Digital Asset Management
- Small & Medium Enterprises
- Large Enterprises
- Energy & Power
- Medical & Healthcare
- Banking & finance
- IT &Telecom
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- OpenText Corporation
- IBM Corporation
- Oracle Corporation
- Capgemini SE
- Xerox Corporation
Key players competing in the cloud enterprise management market include OpenText Corporation; IBM Corporation; Oracle Corporation; Capgemini SE; Xerox Corporation.
Some of these players are focusing on business strategies including partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance
On in June 2018 Adaptive Lab acquired by Capgemini that assists organizations in adapting to new technologies and the resulting adjustments in consumer behavior.