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Enterprise Content Management Market: Demand for High Information Security Stemming from Diverse Industries Stokes Growth
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TMR has pegged the overall value of the global enterprise content management market at US$9,117.4 mn in 2016. Exhibiting a CAGR of 9.0% between 2017 and 2025, the market is expected to reach US$19,904.8 mn by the end of 2025. Among industries reporting demand for enterprise content management, BFSI is at the fore. In addition, a significant increase in the demand from the retail segment is also expected through the forecast period. Among the key regional segments, North America emerged dominant, holding nearly 38% of the global enterprise content management market in 2016.
Rising Investment toward Strengthening ECM Architecture to Give Impetus
Over the coming years, the global enterprise content management market is likely to report steady growth gaining from investment surge in the ECM architecture. A majority of these investments are coming from emerging nations such as India and Brazil. Given the scenario, experts predict massive growth for the market in terms of scalability, investments, and robustness as an increasing number of end users invest in cloud-based ECM solutions.
In addition, the rising awareness among prospects customers regarding their diverse applications will enable growth in the global enterprise content management market. In the last couple of years, cloud-based ECM solutions have found increasing applications in various sectors including banking and financial services, insurance companies, consumer goods, energy and power, education and academia, securities and capital markets, healthcare, defense, media and transportation, and IT and Telecom. A common thread between these industries is that all they require high information security hence emerging as prime consumers of the technology.
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Digitization of Business Platforms Creates Environment Conducive to Growth
The market is likely to gain from digitization of various business platform. Apart from this the abundant availability of unstructured data, the demand for prompt sharing of sensitive information, proliferation of bring your own device trend, and the advancements in the database applications have created an environment conducive to deploying enterprise content management. Supporting this is the higher availability cross various organizations and improved mobile access. Following the implementation of ECM, organizations can derive benefits such as improving their monitoring technologies, thus, establishing time stamp and securing access.
As more number of enterprises realize the benefits they can achieve from enterprise content management, its implementation will spike, in turn boosting the overall market.
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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