Global Enterprise Content Management (ECM) Market to Surpass a Valuation of USD 76 Bn By 2023

According to Market Research Future (MRFR’s) latest report, the global enterprise content management (ECM) market is likely to post a compound annual growth rate of 16.8% between 2018 and 2023. The market is expected to surpass a valuation of USD 76 Bn towards the end of the assessment period. Factors such as introduction of cloud based and hybrid ECM and growth demand for cost-effective solutions are driving the market growth. At the same time, the growing volume of unstructured data is creating the need for robust information management solutions.

Global Enterprise Content Management (ECM) Market: Segmental Analysis

The segment analysis of the market is conducted on the basis of solution, service, deployment, organization size, and vertical.

By solution, the market is segmented into web content management, documentation management, content workflow management, records management, mobile content management and other. In terms of revenue, the web content management segment accounts for the largest market share. The segment is likely to surge at a 15.8% CAGR during the forecast period. Demand for web content management solutions is significantly high as they are used for overcoming issue faced during the content creation, approval, reviewing and publishing. The documentation management segment accounts for the second largest market share. Meanwhile, the records management segment is set to register highest CAGR.

By service, the market has been segmented into integration service, training services and support and maintenance. The support & maintenance segment commanded more than one-third share of the market in 2017 and is projected to exhibit 16.5% CAGR during the forecast period. This is mainly owing to the growing need for support & maintenances services in enterprises. The training services segment also represents a healthy market share in terms of value and is expected to witness a relatively higher CAGR over 2023.

By deployment, the market has been segmented into cloud and on-premises. The on-premise deployment segment is expected to remain highly profitable during the forecast period. For many years on-premise ECM has been the standard mode of deployment. However, the arrival of cloud deployment is expected to impact the market value of the on-premises segment in the forthcoming years.

By organization size, the market has been segmented into SMEs and large enterprises. The largest enterprise segment currently accounts for the largest market years. In 2017, the segment stood at valuation of USD 17.68 Bn. Large organizations generate massive amount of digital content, which requires effective management. This is a major factor driving the growth of the segment. The small and medium enterprise segment is expected to capture a higher CAGR.

By vertical, the market has been segmented into healthcare, IT & telecommunication, retail, transportation & logistics, energy & utilities and others. The BFSI segment makes a sizeable contribution to the market growth. The BFSI segment stood at a valuation of USD 6.06 bn in 2017 and is expected to growth at 16% CAGR over 2023. Content management tools play an important role in streamlining processes in banks and other financial institutes.

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Global Enterprise Content Management (ECM) Market: Regional Outlook

The market has been covered across Europe, North America, Latin America, the Middle East & Africa (MEA) and Asia Pacific (APAC). North America dominates the global ECM market. The North America ECM market is expected to capture 16.5% CAGR during the assessment period. Fueled by the strong adoption rate, the market for ECM in countries such as the U.S. and Canada will continue to flourish during the assessment period. In terms of revenue, the U.S. makes the highest contribution to the region’s market. Europe is ranked second and is expected to remain important market for ECM over the next several years. Of all regions mentions, the market in Europe is expected to witness the highest growth over 2023.

Global Enterprise Content Management (ECM) Market: Competitive Landscape

Microsoft Corporation, IBM Corporation, Hyland Software Inc., Open Text Corp., Adobe Inc., Laserfiche, Box Inc., M-Files Inc., Oracle Corporation and Fajtisu Ltd. are some of the leading market players .

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