Global Enterprise Content Management Market Analysis To 2027 Lead By Alfresco Software, DELL EMC, Hyland Software, IBM, M-Files, Microsoft, Newgen Software Technologies, OpenText, Oracle, Xerox
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Some of the leading players in global market are Alfresco Software, Inc., DELL EMC, Hyland Software, Inc., IBM Corporation, M-Files Corporation, Microsoft Corporation, Newgen Software Technologies Ltd., OpenText Corporation, Oracle Corporation, Xerox Corporation
North America is one of the leading regions in the enterprise content management market, and it is anticipated to be the highest revenue contributor in the global enterprise content management market throughout the forecast period. The market growth and adoption in North America region is primarily driven by the growing demand for enterprise content management solutions from various industries such as BFSI, government, manufacturing, IT and telecom, retail, healthcare, and transportation and logistics among others.
Compliance with various tax-related regulations is a difficult task for any enterprise. These compliance requirements vary drastically within countries, states, and local jurisdictions and keeping an account of all the changes is very crucial for enterprises to avoid possible penalties. Some of the regulations include the Health Insurance Portability and Accountability Act (HIPAA), the Sarbanes-Oxley Act (SOX), and Basel II among several other internal policies that require compliance. ECM solutions enable businesses to keep track and manage their relevant documents. ECM solutions integrate and streamline various business processes and workflows and thus eases the compliance burden of enterprises. In addition to SOX and HIPPA, various enterprise-specific compliance mandates are required to streamline functions and maintain quality. ECM solutions offer content management, records management, and archiving to ensure that all of the enterprise’s unstructured data is efficiently governed. Hence, all these advantages of ECM solutions are expected to boost the enterprise content management market during the forecast period of 2019 to 2027.
The global enterprise content management market by component was led by solutions segment. Companies are looking to adopt ECM solutions to analyze, maintain, and store content. ECM solutions enable enterprises to make their operations more efficient while complying with regulatory rules and regulations. Numerous prominent market players such as IBM Corporation and OpenText Corporation are focusing on providing enhanced ECM solutions and services. The global enterprise content management market by deployment type was led by the on-premise segment. Companies are more inclined towards on-premise enterprise content management, mainly due to the involvement of confidential documents. Increasing security concerns, growing complexities of cloud infrastructure, higher uptime, and complete control over all the platforms are mainly attributable to the dominance of on-premise deployment type in the enterprise content management market.
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