Enterprise Content Management (ECM) Market Size, Share & Industry Analysis, By Solution (Content Workflow, Document Management, Web Content Management, Mobile Content Management), By Deployment (Cloud, On-Premises), By Enterprise Size (SMEs, Large Enterprises), By Industry Vertical (BFSI, Government, IT & Telecom, Consumer Goods and Retail, Healthcare and Life Sciences, Transportation and Logistics) and Regional Forecast, 2019-2026

KEY INDUSTRY INSIGHTS

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The global enterprise content management (ECM) market size valued at USD 15.33 Billion in 2018 is projected to reach USD 43.16 Billion by 2026, exhibiting a CAGR of 14.0% during the forecast period.

Enterprise content management is a solution suite that helps enterprises to organize and manage semi-structured and unstructured information such as word documents, images, financial records, surveys, product information, emails, and web pages, among others. In this digital era, enterprises are facing challenges in organizing the significantly growing unstructured data daily. Enterprises use the software to track, store, edit, and collaborate for content creation and other information related to projects. Along with these, employees can also use the company data even by their own devices and from any server.

The solution suite includes content workflow, document management, imaging and capturing, web content management, record management, mobile content management, digital asset management, and case management. The application of these solutions is for capturing documents digitally like capturing invoices from vendors, resumes from job applicants or research reports. Also for storing scanned paper documents, managing already present digital content like documents, pdfs, photos and video, and automatically filing and categorizing documents from server, ECM has various solutions.

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Other than managing web content, documents, records, ECM also manages content workflow for keeping track of large numbers of project information content and mobile content management for safely and securely transferring data through various devices. These factors are probable to spur the enterprise content management market growth during 2019-2026.

MARKET DRIVERS

 “Increasing Demand for Optimizing Business Processes and Increasing Efficiency is Boosting the Adoption of Enterprise Content Management.”

In the digital era, the content is being created exponentially in the enterprises. The chaos of this produced data is creating challenges for the enterprises for collecting the accurate required information, which in turn hampering the efficiency of the employees and the project. For managing the content produced through the web, social media, records are highly important for the companies for operating proper business processes.

“Capturing a Single View Data to Provide Good Opportunity and Enhance Competitiveness in the Enterprise Content Management.”

There is high competitiveness in the market today owing to the huge availability of data. Enterprises are highly investing in gaining accurate data for market research, analyzing consumer behavior, or analyzing the competitor's strategies. With the adoption of enterprise content management solution, the data will be in structured form, and the data consistency, accuracy will be high along with the single view opinion. All these things will provide the enterprises a clear view of the market dynamics. A growing ECM market trend observed is the penetration of the enterprise content management solution across the diverse industries. 

SEGMENTATION

By Solution Analysis

“Availability of a Wide Range of Solution Suites in the Market to Boost the Revenue Generation of Enterprise Content Management System.”

Based on the solution, the enterprise content management market is classified into the content workflow, document management, imaging and capturing, web content management, record management, digital asset management, mobile content management, case management.

The enterprise content management market has various solutions for managing unstructured data. In the early stage, the widely used solutions were recorded management, document management, and imaging and capturing as the data was stored on papers. With the emergence of digital technology, the conversion of paper to digital data was the need of the hour. Soon the storing, editing, or collaborating the digital data will be in trend, for which solutions such as web content management, digital asset management solution will be in demand. Enabled by this, the ECM market demand is expected to increase rapidly over the projected horizon.

For instance, an enterprise content management solution is required to keep in check wasteful aspects of customary paper-based substance. Content can get changed into valuable, accurate, and in-setting data and can serve as a critical job in making client data accessible inside e-billing and e-commerce client assistance arrangements. It can likewise help your clients give access to basic back-office applications — the reports and data that Enterprises require to oversee business regularly.

By Deployment Analysis

“The adoption of cloud-based deployment likely to witness significant growth in the forecasted period.”

The enterprise content management can be deployed on-premises and through the cloud. The adoption of cloud-based deployment is expected to grow over the period. Lower cost and less maintenance are boosting the adoption of cloud deployment. The policies such as BYOD bring your own devices is also boosting the demand for cloud deployment, thereby surging the enterprise content management market size.

By Enterprise Size Analysis

“Large enterprises are expected to generate more revenue compared to SMEs in the enterprise content management market.”

Enterprise content management has applications in small and medium enterprises (SMEs) and large enterprises. The demand is more for large enterprises as the data generation is very high, along with this many large enterprises are investing in digital marketing which has created a need for application web content and digital asset management solution.

By Industry Vertical Analysis

“BFSI, Government, and Healthcare are expected to witness a high rate of adoption of enterprise content management.”

By industry vertical, the ECM 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.)

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The content created by industries such as BFSI, government, healthcare can be stored and used as historical data. The data such as financial investments, government data, research, policies, and healthcare the patient's medical history is highly crucial, and this has likely to create the demand and boost the adoption of enterprise content management. The consumer goods and retail and IT & telecom are also forecasted to adopt enterprise content management.

REGIONAL ANALYSIS

The global enterprise content management market growth has been analyzed across five major regions, which are North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America this region is further categorized into countries.

The Asia Pacific is expected to be the fastest-growing region in the enterprise content management market, owing to countries such as Japan, China, and India, increasing ECM adoption trends are observed. For the emerging members of APAC, the CAGR is likely to be increasing at a faster rate for the forecasted period. North America though has the largest market share of ECM (Enterprise Content Management) market. BFSI and government are the highly contributing industries for the growth in adoption of the enterprise content management trends. With the government initiations the adoption of enterprise content management has increased in small and medium enterprises.

In Europe, the ECM market share is high as compared to APAC, but due to a decrease in investment after the Brexit outburst the investment in IT has reduced.  Countries such as UK have shown minimal growth, but France and Germany have seen declining adoption of enterprise content management software. Latin America is also steadily adopting the enterprise content management systems market potential owing to the growth in digitalization in the region. The small and medium enterprises are also likely to invest in the enterprise content management services. This, as a result, can foster enterprise content management revenue.

INDUSTRY KEY PLAYERS

“Market Key Players like Xerox, IBM, OpenText, Hyland, Adobe, Fabasoft   is expected to provide high investment in the IT infrastructure and strengthen its market position in the enterprise content management market.”

The key players covered in the report have their headquarters in North America. These key players also dominate North America. These players have a market share of more than 60% of the total enterprise content management system market.

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For instance, motor equipment producers in the U.S. were required to track the individual contracts of an offer to end clients. The agreement bears the assurance terms and the mark of the client. The least expensive arrangement was to keep paper records, be it as it may, this turns out to be all the more expensive as the volume of paper increments, consuming office space. With the IBM Image management solution, the paper was scanned and was stored in the ECM system. For the data security of the documents, it was stored in the bar code system, which is virtually free code recognition system. 

LIST OF KEY COMPANIES PROFILED:

• Xerox Corporation


• IBM Corporation


• Microsoft Corporation


• OpenText Corporation


• Epicor Software Corp.


• Adobe Inc.


• Hyland Software, Inc.


• Fabasoft


• Laserfiche


• Datamatics Global Services Limited

REPORT COVERAGE

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The report provides qualitative and quantitative insights on the global enterprise content management market and detailed analysis of enterprise content management (ECM) market size & growth rate for all possible segments in the market. Along with this, the report provides an elaborative analysis of the ECM market dynamics and competitive landscape. Various key insights presented in the report are recent industry developments in the global enterprise content management services market, such as mergers & acquisitions, macro and microeconomic factors, SWOT analysis, Porter’s five forces analysis, competitive landscape and key company profiles.

Report Scope & Segmentation

INDUSTRY DEVELOPMENT:

• July 2019: OpenText announced an update on its technology of enterprise information management, where they will be providing cloud flexibility for collecting the information securely. This will enable the customer to accelerate innovation and adopt frequent workflow changes.


• December 2018: Xerox announced the new DocuShare Flex content management platform on the cloud; this will help user work from anywhere, large projects, business transaction tracking, and customer engagement, automation of paper-based workflows, and organizing information and documents without IT assistance. Along with this, user will be able to sync the data to the third party, and access the information anytime from anywhere.