Enterprise content management (ECM) is primarily a set of comprehensive strategies, processes, and tools, which capture, store, manage, and maintain data that is being utilized to enhance the business workflow effectively. Various end-use industries such as BFSI, retail, and others use enterprise content management solutions for informed decision-making. Enterprise content management primarily helps in securing the stress content and incorporation of content with the business intelligence and analytics application, due to which it is being highly adopted across various enterprises.
The enterprise content management market is expected to reach US$ 94.1 billion by 2026, growing with a CAGR of 15.8%, during the forecast period. The market is witnessing growth due to the rising need for regulatory content management and growing traction of risk mitigation. In addition to these, increasing government regulations for data security will further increase the growth of the enterprise content management market during the forecast period.
This enterprise content management (ECM) market report covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market. An exclusive coverage has been provided for market drivers and challenges & opportunities for a country-level market in the respective regional segments. The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to the competitive landscape of the market and the recent strategies & products that will assist or affect the market in the near future.
The global enterprise content management market is segmented based on components, deployment, organization size, and end-use industries. Based on deployment, the market has been further segmented as cloud-based and on-premises. Among these, the cloud-based ECM deployment is expected to witness growth with the highest CAGR during the forecast period, as it reduces the total cost of ownership. The cloud-based enterprise content management provides various benefits including disaster recovery and flexibility.
Moreover, it also helps reduce network traffic, which in turn, helps in providing an enhanced user experience and efficiency in operations to various organizations. Moreover, the rising adoption of cloud-based solutions in SMEs across developing nations will further provide opportunities to the enterprise content management system market in the coming years. The on-premise enterprise content management also provides various features including security of data, data ownership, and customization with respect to the storage capacity. Hence, this segment will also witness a high growth rate over the coming years.
Enterprise content management solutions is dominating the market
Enterprise content management solutions are dominating the market in the year 2018 due to the increasing volume of data that is being generated by organizations and the increasing need to protect enterprise data from a centralized place. Enterprise content management is crucial in ensuring the appropriate maintenance, implementation, and support of ECM solutions. Major enterprise content management solutions will further help in enabling business departments in managing the user access independently. This means, the sensitive HR information stays within the HR department while the private financial information stays within the finance department, even if the information is being stored in the same repository.
North America is dominating the market
North America was dominating the enterprise content management market in the year 2018 and is expected to grow significantly over the coming years. This region is witnessing growth due to the high adoption rate of enterprise content management across various organizations. Moreover, the presence of a large number of service providers headquartered in this region including IBM Corporation, Oracle Corporation, and others, is supporting the growth of the market in this region. Moreover, the North American region has a strong base of ECM providers and this is further accelerating the market growth. The U.S. is dominating the market in this region, as it is creating growth opportunities for ECM providers.
The key players operating in the global enterprise content management market include IBM, Microsoft Corporation, M-Files Corporation, Hewlett Packard Enterprise (HPE) Company, OpenText Corporation, Newgen Software, Xerox Corporation, Oracle Corporation, and others. To expand the market, the majority of vendors are adopting new technologies and product launches, in order to gain competitive advantage in the global market. The enterprise content management market is largely driven by new product launches and acquisitions. For instance, in January 2017, OpenText, a developer of enterprise information management in Canada, has acquired Documentum, Dell EMC’s Enterprise Content Division. This acquisition is expected to support the company’s enterprise content management.
Summary:
Get latest Market Research Reports on Enterprise Content Management . Industry analysis & Market Report on Enterprise Content Management is a syndicated market report, published as Global Enterprise Content Management Market - Segment Analysis, Opportunity Assessment, Competitive Intelligence, Industry Outlook 2016-2026. It is complete Research Study and Industry Analysis of Enterprise Content Management market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.