According to a report by Grand View Research, Inc., global enterprise content management (ECM) market is anticipated to value USD 93.76 billion by 2025. Growing requirement for advanced security of confidential data in organizations to enhance operational efficiency is anticipated to propel demand for enterprise content management. ECM is likely to enable organizations to store, manage, and share data in form of audio clips and videos through central repository.
Stringent government regulations towards data security in organizations is expected to influence growth of market. Increasing number of security breaches from network intruders to steel confidential data of organizations can surge demand for ECM solutions over next few years. Growing adoption of cloud technologies to enhance data security can fuel market growth during the forecast period (2014 to 2025).
Full Research Report On Enterprise Content Management (ECM) Market Analysis:
Enterprise content management market can be segregated on the basis of component, deployment, organization type, vertical, and region. Based on component, the market can be bifurcated into services and solutions. Solutions such as records management, document management, web content management, digital rights management, document collaboration, and content analytics are likely to offer high operational efficiency to organizations. These solutions can enable organizations to manage digital content efficiently and offer improved consumer services.
Similarly, post-purchase services such as support & maintenance of software and training of employees can enable organizations to improve their information technology (IT) performance and focus on core business processes. This, in turn, can encourage businesses to adopt ECM software and lead to growth of market during the forecast period.
Based on deployment, the market can be divided into cloud and on-premise. Cloud segment is likely to exhibit highest CAGR over the forecast period attributed to numerous benefits it can offer to organizations such as flexibility and disaster recovery. In addition, it can also reduce network traffic, which can enable organizations to enhance user experience and operational efficiency. The segment is likely to contribute for 60% of overall market revenue by 2025.
View More Reports Of This Category By Grand View Research At:
Based on organization type, the market can be split into SMEs and large enterprises. SMEs segment is anticipated to witness significant growth over the forecast period attributed to rising adoption of ECM. The segment is likely to grow at CAGR of 21.1% over next few years. ECM can enable SMEs to reduce data storage costs by allowing them to store data in central repository. In addition, it can also enable them to comply with government mandates that require organizations to store and retain specific documents.
Based on vertical, the market can be classified into retail, BFSI, communication media & services, manufacturing & natural resources, transportation & logistics, government & utilities, and others. Transportation & logistics segment is expected to account for highest CAGR of 16% over the forecast period. ECM can enable fleet operators to receive real-time supply chain visibility. In addition, it can allow operators to store and manage large volumes of data related to transportation & logistics in central repository. This, in turn, can reduce freight cost and enhanced order processing capabilities among operators.
Similarly, government & utilities can fuel market growth owing to rising adoption of ECM to reduce generation of physical documents and improve collaboration with employees.
Regional segmentation includes Europe, North America, Asia Pacific, Latin America, and Middle East & Africa (MEA). In 2016, North America dominated the market and accounted for largest market share. High prevalence of IT giants such as Microsoft Corporation and IBM can augment growth of market.
In Latin America, the market is anticipated to witness high growth opportunities attributed to rising adoption of enterprise content management by small and medium sized businesses. In addition, rising adoption of IT services by local governments can fuel growth of market in this region.
Similarly in Asia Pacific, the market is likely to witness lucrative growth opportunities owing to increasing number of government initiatives towards data protection. ECM is likely to store data on cloud and prevent data loss during downtime. This, in turn, can influence growth of market in the region.
Some of the leading companies offering enterprise content management are M-Files Corporation, IBM, Hewlett Packard Enterprise (HPE) Company, Newgen Software, and Microsoft Corporation.
Explore the BI enabled intuitive market research database, The Grand Library, by Grand View Research, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: https://www.grandviewresearch.com/
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:28 2nd Street, Suite 3036
City: San Francisco
Country: United States