Press release
Enterprise Content Management (ECM) Market 2021 Reach Valued At $ 29.64 billion And Grow At A 14.3% CAGR Forecast To 2028 |
Enterprise Content Management (ECM) Market 2021-2028
New study report " Enterprise Content Management (ECM) Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.
Market Overview:
The global enterprise content management market size is expected to reach USD 29.64 billion by 2028, exhibiting a CAGR of 14.3% during the forecast period. The growing integration of artificial intelligence (AI) and machine learning (ML) in platforms will have an excellent impact on the market growth in the foreseeable future, states Fortune Business Insights, in a report, titled “Enterprise Content Management (ECM) Market, 2021-2028.” The market size stood at USD 10.33 billion in 2020.
COVID-19 Impact:
Since mid-2020, the covid-19 pandemic has had an unparalleled impact on operations, leading to the suspension of industries, which has hampered the demand for ECM solutions. However, beginning in 2021, the usage of digital solutions is expected to increase. Content production is boosted by the industry's growing digital revolution. Because of the new norm of the remote worker, businesses have moved their information to the cloud. Due to the growth of social media, greater internet connectivity, and mobilization, Covid-19 has expedited data generation. Managing a large volume of unstructured data is a problem for businesses. As a result, ECM systems aid document management by allowing for quick retrieval and archiving.
Top Key Players in this market are:
Xerox Corporation (Connecticut, U.S.)
OpenText Corporation (Ontario, Canada)
Epicor Software Corp. (Texas, U.S.)
Adobe Inc. (California, U.S.)
Laserfiche (California, U.S.)
Datamatics Global Services Limited (Mumbai, India)
M-files Corporation (Texas, U.S.)
Kyocera Corporation (Kyoto, Japan)
Docuware Corporation (Germering, Germany)
Ascend Software (California, U.S.)
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Competitive Landscape-
Heavy Investments in Innovative Technologies to Consolidate Business
To increase the capabilities of ECM solutions, the players are investing in new technology. In order to extend their market position, the major companies engage in acquisitions, partnerships, collaborations, and mergers. For instance, in December 2019, Datamatics Global Services Limited announced the acquisition of SAP connect solution provider CIGNEX Global Holding Corporation. This merger will help enlarge the presence of Datamatics in San Francisco, Singapore, and India.
Segmentation-
Based on components, the market is classified into document management, web content management, digital asset management, eDiscovery, others (record management, case management, etc.)
Base on Deployment, the enterprise content management market is divided into cloud and on-premise.
Based on enterprise size, the market is segmented into small and medium-sized enterprises (SME) and large enterprises.
By industry vertical, the market is classified as BFSI, government, IT & telecom, consumer goods, and retail, healthcare and life sciences, transportation and logistics, others (manufacturing, energy, and utilities, etc.).
Geographically, the market is divided into five major regions: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Regional Insights-
Increasing Adoption of ECM to Bolster Growth in Asia Pacific
Due to increasing adoption of this system in countries such as Japan, China, and India, Asia Pacific is projected to be the fastest-growing region in this market. During the projection period, APAC is expected to expand at the fastest rate. The market is growing because of the increasing adoption of ECM among small and medium-sized businesses. Equally large shares are anticipated to be seen in the European market as in the Asia Pacific market. Due to socio-economic variables and regulatory framework flexibility, online models such as digital platforms and digital ecosystems emerged during the pandemic, increasing the demand for such solutions in the region. During the projected period, North America is estimated to have the largest enterprise content management market share. To safeguard and manage the volume of data, industry sectors such as BFSI and governments heavily invest in such solutions. As an example, the US Treasury Department prefers ECM as a treasury content/collaboration platform.
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The main features of the report include:
Tangible analysis of the various market drivers, trends, and restraints;
Holistic evaluation of the regional prospects of the market;
Microscopic study of all market segments; and
In-depth examination and profiling of the prominent players and their strategies.
Table Of Content:
Introduction
Key Takeaways
Market Dynamics
Competition Landscape
Global Enterprise Content Management (ECM) Key Players Market Share Insights and Analysis, 2020
Key Market Insights and Strategic Recommendations
Companies Profiled (Covered for key 10 players only)
Annexure / Appendix
Continue….
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