Enterprise Content Management System Market to Reach a Value Of $94.09 Billion by 2023
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The BFSI segment dominated the global enterprise content management system market, with around 22% share in 2016, followed by BFSI segment. Furthermore, IT & telecom sector segment is estimated to grow at the highest CAGR of 21.7%, owing to widespread adoption of advanced solutions and increased IT spending.
The cloud segment dominated the enterprise content management system market in 2016, with around 73% revenue share. This is attributed to the improved IT infrastructure and increased cloud-related expenditures.
North America was the highest revenue contributor in 2016, accounting for around 42% share. Asia-Pacific is projected to grow at the highest CAGR of 23.1% during the forecast period.
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Key Findings of the Enterprise Content Management System Market:
o The cloud segment dominated the global enterprise content management system market in 2016.
o The large enterprises segment dominated the market in 2016.
o The BFSI and IT & telecom segments are estimated to provide significant growth opportunities to the key market players.
o The North American market is expected to be dominant, in terms of market size. However, Asia-Pacific and LAMEA are estimated to possess the highest CAGR during the forecast period.
The key players
o Microsoft Corporation
o Oracle Corporation
o Hyland Software Inc.
o Xerox Corporation
o OpenText Corporation
o Alfresco Software Inc.
o Lexmark International Inc.
o M-Files Inc.
o Adobe Systems Incorporated
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