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Enterprise Content Management Market 2020 is Growing with $12.94 Billion of Industry Revenue by 2027 - DELL EMC, IBM Corporation, Oracle, Microsoft Corporation, Newgen Software Technologies, OpenText Corporation
The Insight Partners
Enterprise Content Management Market to 2027 - Global Analysis and Forecasts by Component (Solutions, Services); Deployment Type (Cloud, On-Premise); Organization Type (Small & Medium Enterprises, Large Enterprises); and Industry Vertical (BFSI, Government, Manufacturing, IT and Telecom, Retail, Healthcare, Transportation and Logistics, Others)
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The increasing adoption of digital working culture in organizations coupled with a content explosion in enterprises has led to the increased demand for ECM solutions and services worldwide. ECM solutions are quite popular in developed regions such as North America and Europe and their demand in developing regions such as the Asia Pacific is growing at an impressive rate. Increasing content mobilization, content platform consolidation, content migration on cloud due to less initial investments, regulatory pressures and rising multi-organization ecosystem are some of the major factors boosting the demand of enterprise content management market during the forecast period.
The applications of ECM solutions in various sectors include enterprise document imaging and capture, enterprise records management, enterprise web content management, enterprise document management, enterprise content workflow management, digital asset management, and enterprise digital rights management among many others. The successful implementation of ECM solutions in the BFSI sector attracted interest from other industries such as retail, transportation and logistics, government towards the benefits offered by these solutions. Some of those benefits include increased operational efficiency, productivity & communications, and reduced costs in various business functions
Continuous investments in ECM solutions by companies across major industry verticals such as BFSI, government, and retail have fueled the enterprise content management market growth, especially among developing economies such as China and India. Rest of the developing regions like South America and Middle East & Africa are also expected to grow significantly throughout the forecast period. BFSI, retail, and government sectors are the major industry verticals poised to drive the enterprise content management market during the forecast period.
With the presence of some of the major players such as Open Text Corporation, IBM Corporation, Hyland Software, Inc., Alfresco Software, Inc., Microsoft Corporation, and a large number of small players, adoption of enterprise content management has been growing at an impressive pace in the North American region. However, developing regions such as Asia Pacific, Middle East, Africa, and South America are expected to contribute a substantial percentage in the growth of global enterprise content management market during the forecast period from 2019 to 2027 owing to the supportive government initiatives for digital transformation and presence of a large number of small and medium-sized enterprises.
The major players operating in the global enterprise content management market include Alfresco Software, Inc., DELL EMC, IBM Corporation, Oracle Corporation, Microsoft Corporation, Newgen Software Technologies Ltd., OpenText Corporation, Xerox Corporation, Hyland Software, Inc. and M-Files Corporation., among others.
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