09-May-2024 | Zion Market Research
The global enterprise content management market size was worth around USD 28.35 billion in 2023 and is predicted to grow to around USD 102.88 billion by 2032 with a compound annual growth rate (CAGR) of roughly 15.40% between 2024 and 2032. The report analyzes the Enterprise Content Management market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Enterprise Content Management market.
Enterprise Content Management systems are crucial in managing information and data that is key to digital business infrastructure in these modern times. Increasing use of technology and high adoption of cloud-based systems across the world is expected to bolster Enterprise Content Management market growth through 2032.
Rising technological proliferation, high popularity of cloud technology, rising demand for content management and security, increasing focus on information governance and compliance are some of the major factors that propel Enterprise Content Management market potential in the long run through 2032
However, the concerns regarding privacy and security of data through these Enterprise Content Management systems are expected to have a negative impact on the Enterprise Content Management marketplace. The world has seen a substantial rise in cyberattacks and cybercrimes and this has led to increased concern and skepticism around the reliability and security of these systems in the digital landscape.
Enterprise Content Management companies will have to focus on increasing awareness of their security strengths and they are expected to deploy advanced technologies to ensure data governance and compliance norms are met without any infringements to the privacy of customer data or organization data.
The pandemic of 2020 had a [positive impact on the Enterprise Content Management market which is very rare to say since most pandemics resulted in negative growth trends and caused markets to topple. High adoption of cloud technology and increasing work from home trends were major factors that drove the Enterprise Content Management market growth in the COVID-19 pandemic.
The Enterprise Content Management market is expected to maintain its growth stance over the forecast period as well. The post-pandemic era is expected to provide lucrative opportunities for the Enterprise Content Management marketplace owing to rising technological proliferation and the growing popularity of cloud technologies across the world.
Browse the full “Enterprise Content Management Market Based On Business Functions (Human Resource, Sales And Marketing, Accounting And Legal, Procurement And Supply Chain Management), By Component (Solutions, Document Management, Case Management, Record Management, Web And Mobile Content Management, Digital Asset Management, EDiscovery, Imaging And Capturing, Services, Managed Services, Professional Services), By Deployment Type (On-Premises, Cloud), By Organization Size (Large Enterprises, SMEs), By Vertical (BFSI, Retail And Consumer Goods, Energy And Utilities, Government And Public Sector, Healthcare And Life Sciences, IT And ITeS, Manufacturing, Media And Entertainment, Telecommunication, Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024–2032.” Report at https://www.zionmarketresearch.com/report/enterprise-content-management-market
The global Enterprise Content Management market is segregated based on business function, component, deployment type, organization size, vertical, and region. Based on organization size, the global market is distinguished into Large Enterprises and SMEs. The SME segment is expected to account for a major market share and this is expected to be driven by their low spending potential which motivates them to employ more effective marketing programs. Enterprise Content Management systems are crucial in the management of data and efficient use of it to propel businesses ahead hence the adoption of these systems is high in SMEs.
Asia Pacific region is anticipated to lead the global Enterprise Content Management market over the forecast period. Increasing investments in digitalization, rapid adoption of technology, high technological proliferation, increasing need for information and data management, and rapid adoption of cloud technology are the major factors that are driving the Enterprise Content Management market potential over the forecast period. India, China, and Japan are expected to lead the Enterprise Content Management market growth owing to rapid digitization and increasing adoption of cloud technology over the forecast period.
Key players functioning in the global Enterprise Content Management market include Microsoft (US), OpenText (US), Hyland (US), IBM (US), Laserfiche (US), Box (US), Oracle (US), SAP (Germany), Newgen Software (India), Micro Focus (UK), M-Files (US), iManage (US), Ascend Software (US), DocuWare (US), Xerox (US), Objective Corporation (Australia), KYOCERA Document Solutions (Japan), Fabasoft (Austria), SER Group (Germany), GRM Information Management (US), DOMA Technologies (US), Systemware (US), Adobe (US), Veeva (US), and Atlassian (Australia).
Recent developments:
Global Enterprise Content Management market is segmented as follows:
Based on the business functions
Based on the component
Based on the deployment type
Based on the organization size
By Region
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