The latest report by IMARC Group, titled “Enterprise Content Management Software Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global enterprise content management software market size reached US$ 59.2 Billion in 2022. Enterprise content management (ECM) software allows an organization to securely manage content such as documents, emails, spreadsheets, contracts, and scanned images and make them accessible to authorized users only. It assists in tracking, archiving, creating, distributing, editing, and managing unstructured content to deliver relevant content to users as per their requirements. It also minimizes risk and storage, saves time, reduces operational costs, automates business processes, and improves efficiency, productivity, and customer experience. Owing to these benefits, enterprise content management (ECM) software is extensively adopted in retail, education, manufacturing, banking, financial services and insurance (BFSI), media and entertainment, telecom and information and technology (IT), healthcare, and government sectors across the globe.
Global Enterprise Content Management Software Market Trends:
The market is primarily driven by the expanding IT industry and the increasing digital content. In addition, the rising product adoption in the e-commerce sector to facilitate online marketing, content development, and production, management, and distribution of digital material through online channels is contributing to the market growth. Moreover, the sudden outbreak of the coronavirus disease (COVID-19) pandemic and the growing proliferation of remote work culture has escalated the adoption of digital solutions for content creation representing another major growth-inducing factor. Besides this, the incorporation of artificial intelligence (AI)-based solutions to enhance image resolution and extract text from photos is providing a positive thrust to the market growth. Along with this, the widespread adoption of cloud-based solutions for their benefits, such as flexibility, disaster recovery, and reduced network traffic, which allows enterprises to deliver improved user experience, is propelling market growth. Looking forward, IMARC Group expects the market value to reach US$ 131.2 Billion by 2028, exhibiting a CAGR of 13.8% during the forecast period (2023-2028).
- Based on the deployment model, the market has been bifurcated into on-premises and cloud-based.
- On the basis of the component type, the market has been segregated into document management system (DMS), web content management (WCM), document-centric collaboration (DCC), records management, document imaging, business process management (BPM), and others.
- Based on the service, the market has been categorized as professional and managed.
- On the basis of the enterprise, the market has been segmented into small and medium, and large enterprises.
- Based on the end use industry, the market has been classified into telecom and IT, banking, financial services and insurance (BFSI), retail, education, manufacturing, media and entertainment, government, healthcare, and others.
- Region-wise, the market has been divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the industry has also been examined in the report, with some of the key players being Capgemini SE, Xerox Corporation, OpenText Corporation, IBM Corporation, Oracle Corporation, M-Files Corp., Hyland Software Inc., Epicor Software Corp, Alfresco Software Inc., DocuWare GmbH, Datamatics Global Services Limited, Hewlett Packard Enterprise Company, Microsoft Corporation and Newgen Software Technologies Limited.
|Base Year of the Analysis
||Deployment Model, Component Type, Service, Enterprise, End-Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||Capgemini SE, Xerox Corporation, OpenText Corporation, IBM Corporation, Oracle Corporation, M-Files Corp., Hyland Software Inc., Epicor Software Corp, Alfresco Software Inc., DocuWare GmbH, Datamatics Global Services Limited, Hewlett Packard Enterprise Company, Microsoft Corporation and Newgen Software Technologies Limited
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