Press release
Electronic Document Management System Market: Key players are DocSTAR, Dropbox Business, Dokmee, eFileCabinet, Google, Ideagen Plc, Lucion Technologies, MasterControl
Electronic Document Management System Market is set to exceed USD 6 billion by 2024; according to a new research report by Global Market Insights, Inc. Rise in adoption of cloud computing, BYOD trend, penetration of SaaS based solutions and Big Data are expected to drive electronic document management system market growth. Such solutions enable organizations to streamline workflow and efficiently handle their documentation needs, thereby improving individual productivity and enable organizations to centralize unstructured content and extract business related information quickly and effectively. It controls the creation, duplication, deletion and distribution of document digitally. Moreover, aids in controlling multiple versions of the same document and provides federated searches.
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Regulations requiring the need to maintain data compliance across industries are expected to propel growth of EDMS market. However, cyber security issues of online DMS and high implementation and maintenance cost of on-premise solutions may hinder growth. Key trends impacting growth include social integration, workflow collaboration, customized client portals and mobile device integration. EDMS market solutions enable archiving, indexing, accessing and retrieval of documents.
The rise in demand for document retention as a result of stringent rules and regulations governing the storage of company records is benefitting the global electronic document management system market. Increase in the formation of new businesses has also led to the steep demand for such solutions as they provide co-ordination and control over flow of documents in a protective and efficient manner. Key benefits of EDMS include data protection, information destruction, records management and recovery services.
Partial Chapter of the Table of Content
Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definition and forecast parameters
1.2. Data Sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Electronic document management systems industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Solution trends
2.1.4. Deployment trends
2.1.5. Application trends
Chapter 3. Electronic Document Management System Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Software / cloud service providers
3.3.2. Collaborators
3.3.3. Service providers
3.3.4. Value added resellers
3.3.5. End-user market
3.4. Technology landscape
3.4.1. Social technology
3.4.2. Mobile device integration
3.4.3. Client portals
3.5. Regulatory landscape
3.5.1. North America
3.5.2. Europe
3.5.3. Asia Pacific
3.5.4. Latin America
3.5.5. MEA
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.1.1. Stringent regulatory framework in the U.S.
3.6.1.2. Emerging demand for cloud services in the UK
3.6.1.3. Demand from government institutions in Russia
3.6.1.4. Penetration of SaaS-based solutions in China and Japan
3.6.1.5. Digitization in India
3.6.2. Industry pitfalls and challenges
3.6.2.1. Data security concerns
3.6.2.2. High cost of implementation
3.7. Growth potential analysis
3.7.1. Business model
3.8. Porter’s analysis
3.8.1. Threat of new entrants
3.8.2. Buyer’s power
3.8.3. Threat of substitutes
3.8.4. Threat of suppliers
3.8.5. Industry rivalry
3.9. Competitive landscape, 2016
3.9.1. Key vendors overview
3.9.2. Market share of pure EDM software providers, 2016
3.9.3. Strategy dashboard
3.10. PESTEL analysis
Major industry verticals deploying such solutions include government, medical, commercial, BFSI, legal and education. A strong growth opportunity for the electronic document management system market can be witnessed in the medical field, wherein the regulatory requirements and adoption of health-related ERP systems are driving growth. Incentives are offered to healthcare providers to digitize their records.
Software providers in the electronic document management system market offer desktop solutions, network/server-based and cloud-based solutions to capture and manage their business documentation needs. The core implementation team consists of application developers, project managers and coordinators. Collaboration between software developers and service providers add capabilities to coalesce on a common platform and embed functions into the document management solution. Service providers offer means for implementing EDMS into the actual workplace. In addition to installation, they also provide integration services with the organization’s workflow, as well as training and consulting services for smooth functioning of the system.
On-premise solutions are ideal for operations wherein a large number of documents need to be managed with combatively large file sizes. Customers need to invest on hardware, licenses, IT staff and IT infrastructure for on-premises solutions. On the other hand, cloud based EDMS are suitable for users with limited IT expertise or staff, large number of remote end users and suitable networking infrastructure.
Demand for EDMS solutions in medical applications is expected to exhibit significant growth over the forecast period. This can be attributed to the need for automation and digitization in the healthcare center and the need to improve clinical efficiency and quality of healthcare systems. Increasing adoption of health information management systems such as Electronic Medical Record (EMR), Health Information Management (HIM), Radiology Information System (RIS) and Picture Archiving and Communication System (PACS drive growth of medical electronic document management system market.
Browse Full Report @ https://www.gminsights.com/industry-analysis/electronic-document-management-system-market
Key players in the electronic document management system market include Adobe Systems Incorporated, Alfresco One Software, CGI Group Inc., DocSTAR, Dropbox Business, Dokmee, eFileCabinet, Google, Ideagen Plc, Lucion Technologies, MasterControl, Microsoft Corporation, Oracle Corporation, Zoho Corporation. The players are investing in R&D to develop new technologies that make the solution interoperable and easily integrate with other IT platforms.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: http://algosonline.com/news
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