Document Case Management Market Technology Advancements 2020 to 2025

Document Case Management Market - Growth, Trends, and Forecast (2020 - 2025)

The report will make detailed analysis mainly on in-depth research on the development environment, Market size, development trend, operation situation and future development trend of Document Case Management Market on the basis of stating current situation of the industry in 2020.

This is a latest report, covering the current COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact is covered in the report. It offers critical information pertaining to the current and future growth of the market.

The document case management market is expected to register a CAGR of 15.2 %, during the forecast period (2020 - 2025).

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Demand is growing for cloud document management software and document scanning services as businesses realize they need these tools to survive.

- Remote approvals and increasing electronic approvals has led the governments and companies to opt for document case management. For instance, in early 2020, MHRA introduced guideline that companies utilizing validated systems supporting electronic signatures approval and documentation should continue to use them.

- Data loss from a cyber attack can cost organizations millions of dollars. Some of the data losses can caused by internal threats and occur at the documentation level. To prevent such kind of losses and attacks, companies are increasingly focusing on reducing threats through a document case management, which has in-built security.

- One of the major challnege faced by the market is transition from legacy systems and also implementation challenges associated with customizing the solution to meet organizational ROI objectives.

Competitive Landscape

Although many global players are dominating the market, relatively new players are also entering the market due to an increased need for management of documents. Most of the firms are focusing on innovations to remain relevant in the market.

- March 2020 - LexisNexis Enterprise Solutions and iManage today announced integration between the latest versions of their respective market-leading platforms LexisNexis Visualfiles for legal workflow and case management, and iManage Work for document and email management. This integration enables organizations to optimize their investment in both platforms as well as enhance the value of these business-critical solutions.

- March 2020 - Assembly Software, the leading provider of case management software products for plaintiff lawyers, announced the general release of Needles Neos, a new, web-based solution that dramatically advances the technology relied on by law firms to run their practices.

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Key Market Trends:

Healthcare to Occupy a Significant Market Share

- In the healthcare sector, the lack of cohesive data across patients amidst the prevalence of electronic health records is aiding in the adoption of such tools.

- The healthcare data breach statistics has been witnessing an upward trend over the past ten years, with 2019 seeing more data breaches reported than any other year. Between 2009 and 2019, there have been 3,054 healthcare data breaches involving more than 500 records.

- Those breaches have resulted in the loss, theft, exposure, or impermissible disclosure of 230,954,151 healthcare records. (HIPAA Journal), which is causing the hospitals to think about
- COVID-19 cases have led to a lot of data being generated, due to the increasing number of patients being treated and the rising number of medical facilities. The effective and reliable management of documents generated, along with the need to minimize the use of paper to reduce operational costs and storage issues, is significantly driving the market studied.?

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