Electronic Document Management System Market Size 2024-2033

The new report published by The Business Research Company, titled "" Electronic Document Management System Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the electronic document management system market size has grown rapidly in recent years. It will grow from $5.50 billion in 2023 to $6.37 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The electronic document management system market size is expected to see rapid growth in the next few years. It will grow to $11.17 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%.

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The Rise Of Remote Work And Its Implications For Electronic Document Management Systems
The rise in remote work and flexible working hours is expected to propel the growth of the electronic document management system market going forward. Remote work and flexible working hours refer to work arrangements that allow employees to work outside of the traditional office setting and outside of standard work hours. The popularity of remote or flexible work is growing as it offers advantages to both businesses and employees, technological improvements, and shifting perspectives on work-life balance. An electronic document management system plays a crucial role in supporting remote work by allowing workers to work together on, access, and manage documents and data from any location. These systems typically have advanced search capabilities, making it easy to find specific documents quickly. For instance, in June 2023, according to reports published by Forbes Media LLC, a US-based media company, 12.7% of full-time employees work from home, while 28.2% use a hybrid model in the US in 2023, and it is expected to reach 32.6 million will be working remotely by 2025. Therefore, the rise in remote work is driving the growth of the electronic document management system market.

AI And Machine Learning Integration Propel Growth In EDMS Market
Major companies operating in the electronic document management system market are experiencing significant growth due to the integration of artificial intelligence and machine learning technologies in EDMS. The integration of artificial intelligence (AI) and machine learning (ML) technologies in electronic document management systems (EDMS) refers to the use of AI and ML to enhance various aspects of document management, such as data processing, decision-making, data security, and data quality. This integration can help in solving business problems effectively, ensuring compliance with standards, analyzing historical data, predicting outcomes, and enhancing data security. For instance, in October 2021, MasterControl Inc., a US-based document control solution provider, launched its AI integration MasterControl Insights. The new product is designed to help customers quickly evaluate data for better decision-making. Specifically built for quality and manufacturing professionals in highly regulated industries, MasterControl Insights provides users with the ability to analyze, visualize, and leverage quality and operational data to improve business outcomes. The product sets a powerful base for more advanced data analysis using artificial intelligence (AI) and machine learning (ML).

The electronic document management system market covered in this report is segmented -

1) By Solution: Software, Services
2) By Deployment Type: On-Premises, Cloud-Based
3) By Application: Government, Healthcare, Education, Legal, Banking, Financial Services And Insurance (BFSI), Other Applications

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Major companies operating in the electronic document management system market report are Microsoft Corporation, Oracle Corporation, Xerox Corporation, OpenText Corporation, Zoho Corporation, Ideagen Plc, MasterControl, M-Files DMS, DocuWare, Seismic, eFileCabinet, DocuPhase, DocSTAR, Optix, CGI Group Inc., Lucion Technologies, LogicalDOC, Formstack Documents, FileCenter, Fluix, DocOrigin, Alfresco One Software, Dokmee, Evernote Corporation, QT9 QMS

Contents of the report:
1. Executive Summary
2. Electronic Document Management System Market Report Structure
3. Electronic Document Management System Market Trends And Strategies
4. Electronic Document Management System Market - Macro Economic Scenario
5. Electronic Document Management System Market Size And Growth
…..
27. Electronic Document Management System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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