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The global enterprise content management (ECM) market is expected to reach USD 43.16 Billion by the end of 2026. The demand for enterprise content management software is expected to increase as organizations are continuously putting efforts to enhance efficiency and optimize business processes. According to a report by Fortune Business Insights, titled “Enterprise Content Management (ECM) Market Size, Share & Industry Analysis, By Solution (Content Workflow, Document Management, Imaging and Capturing, Web Content Management, Record Management, Digital Asset Management, Mobile Content Management, Case Management), By Deployment (Cloud, On-Premises), By Enterprise Size (SMEs, Large Enterprises), By Industry Vertical (BFSI, Government, Telecom & IT, Consumer Goods and Retail, Healthcare and Life Sciences, Transportation and Logistics, Others) and Regional Forecast, 2019-2026” the global market was valued at USD 15.33 Billion in 2018, exhibiting an outstanding CAGR of 14.0% between 2018 and 2026.
In the age of digitization, managing unstructured data is one of the biggest challenges for organizations and organizations want to automate the majority of their operations by focusing on their core business. An enterprise content management or ECM software can help organizations to get off the paper and streamline their business processes. It enhances process visibility by eliminating human errors and risks. Spurred by these factors, the enterprise content management market growth will expand in the forthcoming years.
ECM system offers different solutions which include document management, web content management, digital asset management, imaging among others. These solutions can capture and store documents digitally without disrupting the work. In addition to this, it manages digitized documents such as video, pdfs, and photos. The demand for ECM solutions such as web content management, digital asset management, and mobile content management is increasing across organizations. This, in turn, is expected to surge the enterprise content management market size through the forecast years.
An Array of ECM Solution Suits to Boost the Market
ECM system can manage unstructured or semi-structured data with the help of different solutions. Earlier, these solutions were managed manually as the data was captured on papers. However, with the advent of digitization, storing digital data is the need of the hour. Storing, editing, and gathering data digitally has gained immense popularity as it helps to minimize human error and save time and cost. The demand for solutions such as digital asset management, web content management, mobile content management among others is expected to increase, thereby increasing the enterprise content management market share.
Rising Focus on Optimizing Business Processes to Stoke Demand
Content creation is gaining huge attention in organizations and is exponentially created. Owing to the presence of huge content, there are chances of either losing the data or collecting accurate and relevant information. This can eventually hamper the operational efficiency of employees and the project. To optimize business processes, companies need to
invest in enterprise content management systems for managing content. The market size is expected to surge owing to the rising demand from large enterprises who have an enormous amount of data in their repository.
Companies to Streamline their Business Operations with Xerox’s New DocuShare Flex Platform
Companies such as Xerox, IBM, OpenText, Hyland, Adobe, Fabasft account for approximately 60% of the share in the market. For instance, IBM created an image management solution in which a paper can be scanned and stored in the ECM system. This system aims to help vehicle producers to keep a track of the contracts with their end clients. Several companies are planning to invest in IT infrastructure and strengthen their position in the market. For instance, Xerox developed a new cloud-based platform called DocuShare Flex in December 2018. This platform allows users to work from any location, remain connected with customers, and organize important data and documents without IT helpdesk. Such strategies are expected to streamline business operations better by making them secure and safe. The increasing adoption of ECM technology across companies is expected to foster the enterprise content management market revenue by 2026.
As per the report, the market in Asia Pacific will exhibit strong growth owing to the increasing adoption of ECM systems in India, China, and Japan.
Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/enterprise-content-management-ecm-market-101660
The global enterprise content management market can be segmented as mentioned below:
Value (USD Billion)
By Enterprise Size
By Industry Vertical