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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

09-12-2019 08:02 AM CET | IT, New Media & Software

Press release from: The Insight Partners

Global Enterprise Content Management Market

Global Enterprise Content Management Market

The global enterprise content management market accounted to US$ 12.94 Bn in 2018 and is expected to grow at a CAGR of 10.8% during the forecast period 2019 - 2027, to account for US$ 32.30 Bn by 2027. The generation of a massive amount of digital content from different data sources is one of the key factors driving the adoption of ECM solutions in enterprises worldwide. The proliferation of smart & connected devices, easy availability of the internet, and the advent of smart workplaces are some of the primary reasons for the exponential increase in digital content. In the past decade, connected devices have increased at an exponential rate in both enterprises and consumer segments. The digitization revolution worldwide is facilitating the adoption of content management solutions such as ECM among enterprises to efficiently store and use the information generated in an enterprise. With the continuous advancements in computing and storage technology, computing power has increased multi-fold during the last decade. This has created new opportunities for managing and computing big sets of data, and when coupled with revolutionary technologies such as artificial intelligence, useful business and customer insights can be extracted from this data. Hence, the increasing amount of digital content across industries is expected to boost the demand for robust and reliable ECM solutions and thus drive the growth of the enterprise content management market during the forecast period.

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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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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

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