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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.
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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
Table of Segmentation
CAGR of 16.1% from 2023 to 2030
Value (USD billion)
By Enterprise Type