The latest report by IMARC Group, titled "Document Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," finds that the global document management system market size reached US$ 7.0 Billion in 2022. A document management system (DMS) is a software solution used to manage documents and files. It helps track, capture, and store electronic documents like PDFs, word processing files, and digital images of paper-based content. It also provides access control, centralized storage, document security, audit trails, and streamlined search and retrieval functions. Besides this, it stores files, makes sharing information and collaboration easier, and makes documents from different sources accessible from multiple locations. As a result, DMS is widely adopted by various enterprises across the globe.
Global Document Management System Market Trends:
The market is primarily driven by the rising adoption of DMS across small- and medium-sized enterprises (SMEs) to address the escalating demand for web-based services and address consumer concerns. In addition, the growing popularity of remote work models and the surging need for workforce mobility and other integrated facility management solutions to access official assets is contributing to the market growth. Besides this, DMS is also adopted in the healthcare industry to manage patient data and eliminate human error. This, coupled with the integration of 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, minimize paper usage, and reduce operational costs and storage issues is positively influencing the market growth. Looking forward, IMARC Group expects the market value to reach US$ 13.3 Billion by 2028, exhibiting a CAGR of 11.2% during the forecast period (2023-2028).
- Based on the offering, the market has been bifurcated into services and solutions.
- On the basis of the deployment mode, the market has been classified into on-premises and cloud-based.
- Based on the organization, the market has been segmented into small and medium-sized, and large enterprises.
- On the basis of the application, the market has been segregated into BFSI, IT and telecommunication, government, healthcare, retail, manufacturing, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some 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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