Electronic Document Management System Market with Current Trends Analysis, 2018-2028
An Electronic Document Management System (EDMS) is a software program that manages the creation, storage and control of documents electronically. It is a type of storage system that helps users to store and organize digital documents or paper. A basic Electronic Document Management include document management, workflow, text retrieval, and imaging. In some cases these systems may also organize scanned digital versions of paper documents. Feature such as efficient document retrieval is also included in many of such systems. Some EDMS rely on a document storage process, which includes elements called metadata. With the help of metadata one can get easy access to key details that will help to search by keywords, chronology, topic, or other associative strategies.
EDMS efficiently handle their document needs and it also helps the organizations to streamline their workflow, thereby increasing individual productivity. It also enable organizations to extract business related information and centralize unstructured content quickly and effectively and hence the usage of Electronic Document Management System is increasing progressively.
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Global Electronic Document Management System Market: Dynamics
The growing emergence of IT solutions and surging adoption of digitization impacts the growth of the Electronic Document Management System market. The increasing demand for retention of the document as a result of regulations that govern the storage of company records and the strict rules has also fueled the growth of the Electronic Document Management System market. Some other factors driving growth of the EDMS market are rise in adoption of cloud computing, penetration of SaaS base solutions, big data and bring your own device (BYOD) trend. There is a steep demand for EDMS solutions increasing new businesses, as such solutions provide co-ordination in efficient manner and also protects and controls the over flow of documents.
However cyber security issues of Electronic Document Management System and high implementation and maintenance cost of on-premise solutions may hinder growth of the EDMS market.
Global Electronic Document Management System Market: Segmentation
The global Electronic Document Management System market can be segmented on the basis of deployment, application and region.
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Global Electronic Document Management System Market: Competition Landscape
In December 2017, LogicalDOC made further progress by supporting two-factor authentication (2FA) to strengthen document management security, in which YubiKey and Google Authenticator play an important role in its implementation. Two-factor authentication not only protect against credential theft and phishing attacks but it is also recommended for a secure login. It is difficult for hackers to access person’s devices and his online accounts because of advanced security level of Two-factor authentication.
The key vendors in Electronic Document Management System market are Alfresco One Software, CGI Group Inc., Lucion Technologies, eFileCabinet, Dokmee, MasterControl, Ideagen Plc, Microsoft Corporation, Oracle Corporation, Zoho Corporation, OpenText Corporation, Xerox Corporation and DocSTAR.
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