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Enterprise Content Management (ECM) Market to Surge at 16.1% CAGR over 2023 to 2030; Increasing Adoption of Paperless Office Solutions to Spur Market Growth

November 15, 2023 | Information & Technology

The global enterprise content management (ECM) market size stood at USD 32.83 billion in 2022. The market is poised to rise from USD 37.46 billion in 2023 to USD 106.26 billion by 2030, exhibiting a CAGR of 16.1% during the forecast period.


Fortune Business Insights™ presents this information in its report titled “Enterprise Content Management (ECM) Market Size, Share & COVID-19 Impact Analysis, By Solution (Document Management, Web Content Management, Digital Asset Management, eDiscovery, and Others), By Deployment (On-premise and Cloud), By Enterprise Type (Large Enterprises and SMEs), By Industry (BFSI, Government, IT & Telecom, Consumer Goods and Retail, Healthcare & Life Sciences, Transportation & Logistics, and Others), and Regional Forecast, 2023-2030”.


The adoption of ECM is a strategic move that yields cost savings in content maintenance, streamlines document-centric operations, and facilitates more efficient information management, leading to enhanced communication with employees and customers. The demand for customized solutions is expected to drive the growth of the enterprise content management market as companies prioritize solutions that fit seamlessly into their operations.


Business Procedure Reengineering and Efficiency Amid Pandemic Spurred Market Growth


In response to the challenges posed by the pandemic, organizations sought to reengineer their business procedures and streamline work processes. Enterprise content management systems offered the tools and frameworks necessary for this transformation. Companies realized the need for greater efficiency and agility and content management solutions allowed them to restructure and optimize their workflows. This restructuring ensured business continuity and adaptability during uncertain times. Furthermore, the rising demand from artificial intelligence (AI) and the cloud industry to handle higher document loads is likely to bode well during the post-pandemic period.


Box Introduced Box AI for Enhancing Content Discovery and Creation


In May 2023, Box AI was introduced by cloud storage company Box, bringing a fresh array of capabilities that seamlessly incorporate advanced artificial intelligence models into the Box Content Cloud. Box AI serves the purpose of uncovering valuable insights, facilitating information sharing, and simplifying content creation based on an organization's data.


Rising Demand for Paperless Offices Solutions to Spur Market Expansion


The increasing adoption of paperless office solutions is a significant driver of growth. The benefits of digitizing documents, such as the ability to store them on-premise or in the cloud, have become increasingly attractive. Digital file folders within repositories take up far less space than physical record archives, resulting in efficiency gains. Moreover, market leaders are actively developing innovative solutions with advanced features to support paperless initiatives, resulting in the industry growth.


However, security vulnerabilities and the associated concerns about identity theft, cyberattacks, and data breaches could impact the ECM market growth.


Market Leaders Embrace Strategic Partnerships and Mergers to Increase their Market share


Prominent companies in the market are actively pursuing strategic partnerships and mergers with their peers. This strategy is central to their efforts to integrate advanced technologies into their service offerings. Moreover, these businesses are adopting expansion strategies to reach a larger customer base while acquiring specialized expertise. Many of these organizations are also collaborating with service providers to enhance their product offerings.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/enterprise-content-management-ecm-market-101660


Key Players



  • Hyland Software (U.S.)

  •  Box, Inc. (U.S.)

  •  DocuWare Corporation (Germany)

  • IBM Corporation (U.S.)

  •  Laserfiche (U.S.)

  •  M-Files (U.S.)

  •  Kyocera Document Solutions, Inc. (Japan)

  •  Microsoft Corporation (U.S.)

  • OpenText Corporation (Canada)

  •  Xerox Corporation (U.S.)


Key Industry Development


May 2023- M-Files announced integration with Microsoft Outlook and Teams to deliver seamless content collaboration across the enterprise.


Further Report Findings



  • The ECM market share in the North American region     held a major share in the global market. Key players in North America are actively engaging in strategic alliances, partnerships, mergers, and acquisitions with other companies. These collaborations help strengthen their business presence, enhance their offerings, and expand their customer base.

  • In Europe, the growth is attributed to the increasing adoption of cloud-based services for converting physical documents into digital format using software and services.


Table of Segmentation










































ATTRIBUTE



DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 16.1% from 2023 to 2030



Unit



Value (USD billion)



Segmentation



By Solution



  • Document Management 

  • Web Content Management 

  • Digital Asset Management 

  • eDiscovery

  • Others (record management, case management)


By Deployment



  • Cloud

  • On-premise


By Enterprise Type



  • SMEs

  • Large Enterprises


By Industry



  • BFSI

  • Government

  • Telecom and IT

  • Consumer Goods and Retail

  • Healthcare and Life Sciences

  • Transportation and Logistics

  • Others (Manufacturing, Energy and Utilities)


By Region



  • North America (By Solution,By Deployment,By Enterprise Type, By Industry, and By Country)


    • U.S. (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Canada (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Mexico (By Solution,By Deployment,By Enterprise Type, By Industry)


  • South America (By Solution,By Deployment,By Enterprise Type, By Industry, and By Country)


    • Brazil (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Argentina (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Rest of Latin America


  • Europe (By Solution,By Deployment,By Enterprise Type, By Industry, and By Country)


    • U.K. (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Germany (By Solution,By Deployment,By Enterprise Type, By Industry)

    • France (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Italy (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Spain (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Rest of Europe


  • Middle East and Africa (By Solution,By Deployment,By Enterprise Type, By Industry, and By Country)


    • GCC (By Solution,By Deployment,By Enterprise Type, By Industry)

    • UAE (By Solution,By Deployment,By Enterprise Type, By Industry)

    • South Africa (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Rest of the Middle East and Africa


  • Asia Pacific (By Solution,By Deployment,By Enterprise Type, By Industry, and By Country)


    • China (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Japan (By Solution,By Deployment,By Enterprise Type, By Industry)

    • India (By Solution,By Deployment,By Enterprise Type, By Industry)

    • South Korea (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Hong Kong (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Singapore (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Philippines (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Indonesia (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Malaysia (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Vitenam (By Solution,By Deployment,By Enterprise Type, By Industry)

    • Rest of Asia Pacific



Enterprise Content Management (ECM) Market
  • PDF
  • 2022
  • 2019-2021
  • 244

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