Global Document-Centric Collaboration Software Market to Signify Strong Growth by 2022-2028

The global document-centric collaboration software market is anticipated to grow at a CAGR of 6.9 % during the forecast period (2022-2028). Over the forecast period, the rise in the use of networking websites is expected to have an impact on the growth of the document-centric collaboration market. Furthermore, the increased use of mobile devices for collaboration, as well as the adoption of document-centric collaboration solutions across document-centric to improve employee productivity, is expected to fuel the growth of the document-centric collaboration market during the forecast period. Moreover, rapid innovations and technological advancements, as well as an increase in the use of networking websites and mobile devices for collaboration, are expected to positively impact market growth. High R&D spending and an increase in the need to streamline the communication process are expected to create a huge demand for document-centric collaboration.

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However, the high cost of implementation and complexity in countering discovery and legal risks are expected to hamper the growth of document-centric collaboration market during the forecast period. The rising security concerns and complexities in aligning team collaboration software with business goals can challenge the growth of document-centric collaboration in the forecast period. The high demand for AI across the globe, an increase document-centric collaboration solutions with cloud and mobile technologies are the other key factors to create a slew of new opportunities for the market during the forecast period.

Due to the adoption of document management systems in the financial and healthcare industries in these regions, North America and Europe are expected to hold a significant market share in the document management software systems market. Furthermore, the Asia-Pacific region is expected to be the fastest-growing region in the market due to the government adoption of various government portals and initiatives in countries such as India.

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Market Coverage

The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By Application
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- IBM Corp., Microsoft Corp., OpenText Corp., Dell, 5i Solutions, Accellion Inc., Alfresco Software, Box, Inc., Cignex Datamatics, Inc., among others.

Key questions addressed by the report

What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

Global Document-Centric Collaboration Software Market Report by Segment

By Type

Cloud-based
On-premises

By Application

BFSI
Legal
Healthcare
Telecommunication

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This release was published on openPR.