Pune, India, Nov. 20, 2023 (GLOBE NEWSWIRE) -- The global enterprise content management market size was valued at USD 32.83 billion in 2022 and is projected to reach USD 106.26 Billion by 2030, exhibiting a CAGR of 16.1% during the forecast period. Fortune Business Insights™ provides this information in its research report, titled Enterprise Content Management (ECM) Market Forecast, 2023-2030.
Enterprise content management simplifies document-focused operations, enhances information management, and streamlines content maintenance, resulting in improved communication with both employees and customers. The enterprise content management (ECM) market is expanding rapidly, driven by the escalating challenge faced by businesses in managing data traditionally. This is primarily due to the ever-increasing volume of data generated, captured, duplicated, and consumed worldwide.
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Key Industry Development:
- M-Files acquired Ment, a No-Code Document Automation Company, with the aim of delivering top-tier document management and automation capabilities.
Key Takeaways
- Government Investments in Paperless Strategies Spurred Market Expansion
- Digital Asset Management Segment to be the Fastest Growing due to Its Multimedia Asset Generation
- Rising Trend for Customized Solutions is Expected to Boost the Market Demand
- Increasing Demand for Paperless Offices to Aid the Market Growth
- By Deployment Analysis: Increasing Demand for Cloud-based Solution Among Enterprises to Enhance the Market Growth
Discover the Leading Players Featured in the Report:
“Companies leading the Enterprise Content Management (ECM) Market share are Hyland Software (U.S.), Box, Inc. (U.S.), DocuWare Corporation (Germany), IBM Corporation (U.S.), Laserfiche (U.S.), M-Files (U.S.), Kyocera Document Solutions, Inc. (Japan), Microsoft Corporation (U.S.), OpenText Corporation (Canada), Xerox Corporation (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 16.1% |
| 2030 Value Projection | USD 106.26 Billion |
| Base Year | 2022 |
| Enterprise Content Management (ECM) Market Size in 2022 | USD 32.83 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 244 |
| Segments covered | Solution, Deployment, Enterprise Type, Industry and Geography |
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Drivers and Restraints:
Growing preference for Customized Solutions to Propel Market Growth
Businesses increasingly favour customized ECM solutions that seamlessly integrate with their existing workflows. Customizable settings, automated processes, and tiered permissions are becoming a focus for market players. This preference for solutions that adapt to the company's specific needs is propelling the enterprise content management (ECM) market growth.
High investment requirements and the need to address document management security issues are acting as barriers to enterprise management content market growth.
Segmentation:
By Solution
- Document Management
- Web Content Management
- Digital Asset Management
- eDiscovery
- Others
By Deployment
- Cloud
- On-premise
By Enterprise Type
- SMEs
- Large Enterprises
By Industry
- BFSI
- Government
- Telecom and IT
- Consumer Goods and Retail
- Healthcare and Life Sciences
- Transportation and Logistics
- Others
By Region
- North America
- Europe
- Middle East and Africa
- Asia Pacific
Regional Insights:
North American Market secured a prominent Share in the Market Owing to Government Initiatives and Digital Transformation Adoption
North American market held the key enterprise content management (ECM) market share. The support of government initiatives and the increasing adoption of digital transformation products and services by leading industry players are driving market growth.
Asia Pacific region is likely to grow with highest CAGR. The substantial investments in digitalization encouraged by dynamic ecosystems in countries such as India, Australia, and Japan, has spurred the demand for product to a great extent.
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Competitive Landscape:
Key Participants Strike Partnerships to Increase Product Reach
Key players within the market are strategically forming alliances and acquiring other companies. This approach is instrumental in integrating cutting-edge technologies into their services. By implementing these business strategies, companies are expanding their operations and gaining specialized expertise while broadening their customer base.
FAQ’s
How large is the Enterprise Content Management (ECM) Market?
Enterprise Content Management (ECM) Market size was USD 32.83 billion in 2022.
How fast is the Enterprise Content Management (ECM) Market growing?
The Enterprise Content Management (ECM) Market will exhibit a CAGR of 16.1% during the forecast period, 2023-2030.
Related Reports:
Digital Asset Management Market Size, Share, Trends and Forecast
Document Management System Market Size, Growth, Trends
eDiscovery Market Size, Share, Growth and Forecast
Software as a Service (SaaS) Market Growth, Size, Share and Report Analysis
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