Enterprise Content Management (ECM) Market Synopsis
Enterprise content management (ECM) Market Size was valued at USD 30.7 billion in 2021. The enterprise content management (ECM) market industry is projected to grow from USD 34.5 billion in 2022 to USD 77.4 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 12.25% during the forecast period (2022-2030).
Enterprise content management (ECM) refers to a set of strategies and tools used to manage and organize an organization's content and documents. The goal of ECM is to streamline content management and provide a centralized repository for all types of content, including documents, images, audio, and video files. ECM typically includes capabilities for document capture, storage, retrieval, versioning, collaboration, and workflow management. ECM systems are used by a wide range of industries, including healthcare, finance, manufacturing, and government. They help organizations maintain compliance with regulations and standards, improve operational efficiency, and reduce costs associated with manual document management.
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Enterprise Content Management (ECM) Market Segmentation:
By component, the global enterprise content management market has been bifurcated into solution and service. The solution segment is sub-segmented into enterprise record management, enterprise web content management, digital asset and rich media management, social content management, and others. The service segment has been sub-segmented into technology and integration service, consulting service, and, application support maintenance service.
By deployment, the global enterprise content management market is bifurcated into cloud and on-premise.
By organization size, the enterprise content management market has been bifurcated into small and medium enterprise, and, large enterprise.
By vertical, the global enterprise content management market is segmented intoBFSI, IT telecommunication, retail, energy power, government and defense, healthcare and life sciences, transportation logistics, media entertainment, manufacturing, tourism and hospitality, and others.
Enterprise Content Management (ECM) Market Regional Analysis:
In addition , the increasing demand for optimizing business processes and increasing efficiency is boosting the adoption of content management for enterprises.
However, the use of cloud computing as the basis for document management systems has both benefits and drawbacks. Although it provides easy access and reduced maintenance efforts, it also poses potential safety risks and does not provide complete control. On the other hand, collecting data from a single view to provide good opportunities and boost competitiveness in the management of enterprise content.
Europe is an significant growth area for the global content-management enterprise market. Rapid industrialization coupled with advances in technology is expected to increase demand for gasoline. Another driving factor for growth in the regional market is the rising demand from end user industries.
It is estimated that Asia Pacific experiences a sharp increase in business growth. Growth is due to digitisation and the growth of IT infrastructure. Morevoer, Latin America and MEA are projected to witness significant growth in the coming years, owing to the increasing preference of cloud companies and the increasing need for IT services by the government sector.
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Enterprise Content Management (ECM) Market Competitive Dashboard:
Some of the major players profiled in the report are Newgen Software Technologies Ltd (India), Lexmark International, Inc. (U.S.), Dell EMC Corporation (U.S.), IBM Corporation (U.S.), Alfresco Software (U.K.), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), Hyland Software Inc. (U.S.), Opentext Corporation (Canada), and Xerox Corporation (U.S.).
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