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OverviewIn enterprise content management market, digitization and mobility is one of significant factor driving the market. Digitization in enterprise content management technology helps organization by providing seamless platform to handle consumers information and increases efficiency and accuracy in business operations. Digital technology supports both upstream and downstream enterprise content management activities. By vertical segment, BFSI and retail sector acquires highest market share owing to better analysis of content behavior offered by content analytics software is benefitting banking and retail business and is further fueling the market growth.
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Segments
The segmentation on the basis of deployment includes cloud and on-premise. Cloud solution accounts for highest market share as it helps enterprises by minimizing cost associated with the IT infrastructure. Cloud solution enable enterprise to focus on core business competencies. It provides enterprises with data protection and security, efficiently manage storage and privacy issues, offers data integrity and provides information related to governance and make enterprise legally prepared.
According to Market Research Future Analysis, enterprise content management market has been valued at approximately USD 80 Billion by the end of forecast period with approx. 17% of CAGR during forecast period 2018 to 2023.
Key Development
In June 2018, Microsoft Corporation collaborated with Ernst & Young, a multinational professional service provider to launch a blockchain solution for content rights and royalty’s management.
In April 2018, Hyland acquired the OneContent business from Allscripts, a healthcare information technology solution provider.
In September 2018, M-Files partnered with Apex Oil Company, a provider of petroleum products across the US, to integrate the latter’s enterprise service management solution, Cherwell, for streamlining the user experience and creating improved document management across the company.
Key Players
Market Market Research Future (MRFR) recognizes the following companies as the key players in the Enterprise Content Management Market are- Dell EMC Corporation (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Opentext Corporation (Canada), Oracle Corporation (U.S.), Alfresco Software (U.K.), Hyland Software Inc. (U.S.), Lexmark International, Inc. (U.S.), Newgen Software Technologies Ltd (India), Xerox Corporation (U.S.), among others.
Key questions addressed by the report
Which segments provides the maximum growth opportunity?
What are the emerging technologies and how it would disrupt the market?
Who are the key players dominating the market, followed by other prominent vendors and strategies adopted by them?
What was the market size and what would be the forecast in next few years?
Regional and country attractiveness: mid to long term outlook?
Market dynamics including trends, opportunities, drivers, challenges and how this would impact the market eco-system?
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
The component segment is sub-segmented into solution and service. The solution segment consists of includes e-discovery solution. The factors driving e-discovery solution market includes, rapid increase in the age group ratio and growing volume of electronic stored information. E-discovery solution is used in many industries that includes retail, legal, healthcare, manufacturing, government and others. It empower organization by managing the entire process of interviews, notification, reminders and escalations. E-discovery solution leverage HR systems by providing historical protective views. This solution is majorly adopted by enterprises into BFSI and retail sector. E-discovery solution enhance organizational efficiency by reducing cost and time spent on evaluating and managing large set of documents efficiently. Increasing number of criminal investigation and civil litigation is disturbing enterprise operations. The requirement for compliance for regulatory purpose and internal investigation is forcing enterprises to adopt e-discovery services.
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Regional Analysis
By region, MRFR analysis shows that North America region accounts for largest market share inenterprise content management market owing to growing adoption of enterprise content management software by small and large enterprises in the region. Wide adoption of enterprise content management solution in BFSI and e-commerce enterprises is boosting the market in the region. Asia-Pacific region is expected to be one of the fastest growing market owing to increase adoption of cloud based enterprise content management solutions by enterprises. In Asia-Pacific region countries such as China, India, South Korea and Japan will be generating high revenue in enterprise content management market. Increased adoption of enterprise content management solution by small and large enterprises to enhanced marketing effectiveness by improving business strategies and decision. This would further help organization to reduce the customer attrition rate and help retailers to enhance content experience.
LIST OF TABLES
TABLE 1 MARKET SYNOPSIS 16
TABLE 2 LIST OF ASSUMPTIONS 19
TABLE 3 GLOBAL ENTERPRISE CONTENT MANAGEMENT (ECM) MARKET, BY SOLUTION, 2018–2023 (USD BILLION) 37
TABLE 4 GLOBAL ENTERPRISE CONTENT MANAGEMENT (ECM) MARKET, BY SERVICE, 2018–2023 (USD BILLION) 41
TABLE 5 GLOBAL ENTERPRISE CONTENT MANAGEMENT (ECM) MARKET, BY DEPLOYMENT, 2018–2023 (USD BILLION) 44
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LIST OF FIGURES
FIGURE 1 GLOBAL ENTERPRISE CONTENT MANAGEMENT (ECM) MARKET: MARKET STRUCTURE 19
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 24
FIGURE 3 DCO ANALYSIS OF GLOBAL ENTERPRISE CONTENT MANAGEMENT (ECM) MARKET 27
FIGURE 4 VALUE CHAIN: ENTERPRISE CONTENT MANAGEMENT (ECM) MARKET 31
FIGURE 5 PORTER'S FIVE FORCES ANALYSIS OF GLOBAL ENTERPRISE CONTENT MANAGEMENT (ECM) MARKET 33
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