Corporate Heritage Data Management Market Opportunities Analysis | North Plains Systems Corp., Widen Enterprises, Inc., Open Text Corporation

The global market for corporate heritage data management is comprised of a copious number of small and medium players. There are only a handful of big companies operating in the market. This makes the competitive landscape fragmented in nature. In the near future more players are expected to foray into the market on account of the soaring popularity of such solutions.

In order to stay ahead of the curve, leading players in the market are focusing on improved solutions and services. Partnerships are a noticeable trend in the global market for corporate heritage data management. Smaller players particularly are resorting to it to succeed in the market.

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The different types of corporate heritage data management solutions are digital asset management, digital collection, etc. Of them, digital asset management (DAM) accounts for a greater market share since it offers a holistic platform. It helps to organize data according to different parameters that can be selected manually. In addition, it has enhanced security features such as authorized access to data and various features and complete lifecycle support.

Global Corporate Heritage Data Management Market: Trends and Opportunities

The global market for corporate heritage data management is forecasted to clock a phenomenal CAGR of 19.1% from 2016 to 2024. This is because of the advantage they offer in terms of managing critical business data in such a way that they are accessible and can be shared easily. They have emerged as the favored tool for saving historical data of an organization. Further, cloud-based solutions are also helping to easily and cost-effectively implement such innovative solutions. This is proving beneficial to the market as well.

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However, steep cost of corporate heritage data management solutions, along with the fact the solutions offered by those are used internally and contribute little towards to return on investment, often deter companies from purchasing those.

Despite, such drawbacks, numerous industry verticals are driving up demand for corporate heritage data management solutions since they are useful for marketing and brand development activities. Rising spends on marketing and related activities by business entities to drive sales is predicted to drive sales.

Global Corporate Heritage Data Management Market: Regional Outlook

From a geographical perspective, North America leads the global market for corporate heritage data management because of the demand for such sophisticated tools by the sectors of organized retail and manufacturing for proper organization of historic data. The robust automobile industry in the region is also serving to up demand owing to the need for historical data of old models and manufacturing facilities. In the years ahead too, the region is predicted to maintain its dominant position on the back of continued demand from different industries. Asia Pacific is another key market for corporate heritage data management which is expected to expand at a healthy clip in the near future owing to the demand from the telecom and IT and media and entertainment sectors.

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Global Corporate Heritage Data Management Market: Competitive Dynamics

Some of the prominent names in the global market for corporate heritage data management market are Eloquent Systems, Inc., North Plains Systems Corp., Widen Enterprises, Inc., Open Text Corporation, NetXposure, Inc., and MediaBeacon, Inc. The report by Transparency Market Research sheds light on the USPs of the solutions they offer, their sales and revenues, and respective market shares. It also tries to gauge their future growth path.

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