The global document management systemmarket size reached US$ 7.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.3 Billion by 2028, exhibiting a growth rate (CAGR) of 11.2% during 2023-2028.
A document management system (DMS) is an automated software solution designed to manage documents and files and simplify data management systematically. It helps capture, track and store electronic documents like PDFs, word processing files, and digital images of paper-based content. It provides document security, access control, centralized storage, audit trails, and streamlined search and retrieval. Besides this, it stores files in the cloud, makes sharing information and collaborating easier, and allows documents from different sources to be accessible from multiple locations through an internet connection. As a result, DMS enables companies to manage the workplace environment and achieve their goals.
Document Management System Market Trends:
The growing demand for web-based services to address consumer concerns is leading to the widespread adoption of DMS across small- and medium-sized enterprises (SMEs). In addition, the growing acceptance towards remote work models is increasing the need for workforce mobility and other integrated facility management solutions to access official assets and decrease the physical infrastructure requirements of the organization. Along with this, improving technologies and efficient execution of the DMS are gradually eliminating the traditional concept of paper files, which, in turn, is offering a favorable market outlook. Besides this, the lack of cohesive data on patients in the healthcare sector is further driving the usage of DMS to eliminate human error. The effective and reliable management of documents generated, along with the escalating need to minimize paper usage, helps reduce operational costs and storage issues, which is positively influencing the market. Furthermore, the growing sales of smartphones and the integration of cloud technology, including artificial intelligence (AI), machine learning (ML), virtual and augmented reality (VR/AR), and point of sale (POS) platforms with DMS to meet consumer-specific needs is strengthening the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global document management systemmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on offering, deployment mode, organization and application.
Breakup by Offering:
Breakup by Deployment Mode:
Breakup by Organization:
Small and Medium-sized Enterprises
Breakup by Application:
IT and Telecommunication
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Agiloft Inc., DocuSign Inc., eFileCabinet, Hyland Software, International Business Machines Corporation, OpenText Corporation, Oracle Corporation, Ricoh Company Ltd., Scrypt Inc., Synergis Technologies LLC, Xerox Holdings Corporation and Zoho Corporation.
Base Year of the Analysis
Offering, Deployment Mode, Organization, Application, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Agiloft Inc., DocuSign Inc., eFileCabinet, Hyland Software, International Business Machines Corporation, OpenText Corporation, Oracle Corporation, Ricoh Company Ltd., Scrypt Inc., Synergis Technologies LLC, Xerox Holdings Corporation and Zoho Corporation
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Key Questions Answered in This Report
The global document management system market was valued at US$ 7.0 Billion in 2022.
We expect the global document management system market to exhibit a CAGR of 11.2% during 2023-2028.
The rising demand for document management systems to store files in the cloud, share information and collaborating, allow documents from various sources to be accessible through an internet connection, etc., is primarily driving the global document management system market.
The sudden outbreak of the COVID-19 pandemic has led to the widespread adoption of document management systems to increase the need for workforce mobility and minimize paper usage, during the remote working scenario.
Based on the deployment mode, the global document management system market can be segmented into on-premises and cloud-based. Currently, on-premises hold the majority of the total market share.
Based on the organization, the global document management system market has been divided into small and medium-sized enterprises and large enterprises, where large enterprises currently exhibit a clear dominance in the market.
Based on the application, the global document management system market can be categorized into BFSI, IT and telecommunication, government, healthcare, retail, manufacturing, and others. Currently, the BFSI industry accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global document management system market include Agiloft Inc., DocuSign Inc., eFileCabinet, Hyland Software, International Business Machines Corporation, OpenText Corporation, Oracle Corporation, Ricoh Company Ltd., Scrypt Inc., Synergis Technologies LLC, Xerox Holdings Corporation, and Zoho Corporation.
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