Enterprise Content Management (ECM) Market Research Report—Forecast till 2026

Enterprise Content Management (ECM) Market Research Report: Information by Solution (Web Content Management, Mobile Content Management, Documentation Management, Records Management, Content Workflow Management, and Others), Service (Integration, Support & Maintenance, and Training), Deployment (On-Premises and Cloud), Organization Size (SMEs and Large Enterprises), Vertical (BFSI, Healthcare, Retail, IT & Telecommunication, Energy & Utilities, and Transportation & Logistics),and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast Till 2026

ID: MRFR/ICT/2625-CR | August 2019 | Region: Global | 226 pages

Enterprise Content Management (ECM) Market Overview


 


Enterprise Content Management (ECM) Market size was at USD 40.62 billion in the year 2019 and expected to surpass over USD 127 billion by the year 2026 while registering over 18.1% in the forecast period. The Enterprise Content Management systems are deployed to efficiently manage the data generated by the organization. The different strategies, methods, tools combine to manage the data while reducing the risks and enhancing productivity. The primary function of any Global Enterprise Content Management solution is to reduce the clutter made in the organization or firm. The Enterprise Content Management solutions help the organization in attaining the process visibility and accessibility throughout the project. Since the mainstream organizations and bigger players generate gigabytes of data from the sensors, smart devices, and various other resources, the necessity of managing the receiving data is increased.


 


Any loss in the crucial data could affect the entire project, archiving them properly and being able to view that on-demand is the essential function carried out by the Enterprise Content Management (ECM) Market. The potential Enterprise Content Management (ECM) Market helps in achieving transparency and quicker processes throughout.


 


COVID 19 Analysis


 


The pandemic has adversely affected almost every industrial sector; every industry is looking for digital solutions that help in continuing the production operation. The increasing digital solution and data generation have increased the Enterprise Content Management market demand. Since business sectors are increasingly handling their business operations online, a lot of business-related data are handled online. Hence there has been a lot of content creation in recent years. 


 


As several business operations are lagging due to the interruptions caused by the pandemic, even small and medium enterprises are adopting hybrid solutions to reduce time consumption and increases productivity. Also, the advent of artificial intelligence and machine learning are surging in recent years which are offering great help in terms of record management, dashboard analytics to set back the business on track. Such strategies have been booming after the COVID 19 crisis. Additionally, the leading enterprises are providing e-forms and recruiting candidates to work from remote places, these data acquired from various candidates to the organizations require efficient management and control. These are the driving factors for the Enterprise Content Management market during the COVID 19 pandemic.


 


Market dynamics


 


Market drivers


 


Cyber security activities are growing as the number of security breaches in organizations is increasing. The potential Enterprise Content Management solutions are offering security services along with the management of data. Enterprise Content Management solutions provide efficient service in areas like proper storage, preventing data corruption and critical data leaks. It encompasses a series of inspections by providing access only to the approved users.


 


In recent times, to increase productivity, the employees bring their smart devices and laptops for their work; this has placed a huge challenge for the organizations to securing and managing the data. Several enterprises are hugely increasing the cloud-based solutions as they are providing easy solutions in every operation. However on-premise solutions are more secure. Hence the organizations are looking to leverage the benefits of both to promote overall productivity. This has created hybrid solutions which provide the benefits of both of the solutions. Such strategies are increasing the Enterprise Content Management market demand.


 


Market opportunities


 


The world is increasingly moving towards social media. Additionally, the corporates are increasingly generating volumes of data; hence every corporate sector is flooded with unstructured data. The diverse content creation methods and the increasing users of social media have created a demand for the Enterprise Content Management (ECM) Market. The diverse content creation methods and diverse data formats are sourced from various social media platforms. The diverse data has increased the difficulty of managing them and categorize them. These factors have created an opportunity for Enterprise Content Management (ECM) Market.


 


The attractive features of the Enterprise Content Management (ECM) Market are the major driving factor of its growth. Features like automation increased content value, and improved data governance is attracting corporate companies to deploy a potential Enterprise Content Management solution. Also, the advent of AI-based solutions provides enhanced image resolutions and automatically captures the text from the images. The voice recognition features enable to extraction of crucial data from voice files also. These factors have increased the demand for the Enterprise Content Management (ECM) Market.


 


Market restraints


 


Since several companies are incorporating several strategies and integrating them for better performance, the necessity of Content Management Solutions has increased. However, the implementation of Content Management solutions is a major challenge for any organization. Also, a higher initial requirement for deploying the Enterprise Content Management Solutions is hindering the growth of the Enterprise Content Management (ECM) Market.


 


Other than higher capital costs, the organizations require technical experts who would develop the system template according to the requirement of the document type used by the firm. Some organizations fail to employ skilled operators which restricts the growth of the Enterprise Content Management (ECM) Market value in some regions.


 


Market challenges


 


A potential Enterprise Content Management solution should ensure their employees can locate the business-related documents and updated information related to the business. Every organization is producing a humongous volume of data which are dispersed across various folders despite deploying Content Management solutions. This slows down the collaboration and the information flow which in turn affects the overall performance of the business.


 


The utilization of cloud computing has increased the security breaches of the industry, which affects data security. The increased utilization of personal devices like laptops has affected data security.


 


Cumulative growth analysis


 


The Enterprise Content Management solutions aid in data protection, flexible operation techniques which thereby speeds up the revenue in the very few years of deploying them. Hence the Enterprise Content Management (ECM) Market size was at USD 40.62 billion in the year 2019 and expected to surpass over USD 127 billion by the year 2026 while registering over 18.1% in the forecast period. The surging digital content across the globe requires efficient management and centralized source for easy assessment of the employees. The advent of end-to-end cross-platform solutions is bringing forward essential strategies that help in growing the business revenues.


 


Enterprise Content Management is software that manages the data from an overflow or getting corrupted. The Enterprise Content Management solution is often mistaken by the digital filing systems. However, the Enterprise Content Management systems perform more than the digital filing systems. The DFS (Digital Filing Systems) can reduce the clutter that is produced by the data overflow. Decluttering produces more space for crucial information and preserves them. The DFS also helps in storing the Metadata which makes them more searchable. On the other hand, any potential Enterprise Content Management solution includes the Optical Character Recognition Technology that pulls out information directly from the document and auto-generates the Metadata. Such complete automated data processing reduces the time for processing crucial data. 


 


Value chain analysis


 


Management of huge volumes of data has been a challenge in many industrial sectors. The well-managed and processed data helps in improving the decision-making ability and overall business growth. To improve business operations, leading industries are increasingly adopting cloud-based services which encourage enterprises to implement productive content management platforms. The growth of cloud-based solutions and plenty of benefits the cloud-based infrastructure offers are the major drivers of Enterprise Content Management market growth. Cloud-based systems make the management easier to manage their contents, provide efficient data control, data retrieval from a single source location this factor provides major security for the entire system.


 


The Enterprise Content Management Systems are highly beneficial in the banking sectors, the traditional systems require lots of procedures to get the cheque to the user. It takes up to a week to get a physical cheque. The Enterprise Content Management systems get the cheque within a few seconds. These fast procedures make the entire process very simple and safe. Hence the deployment of Enterprise Content Management solutions is highly beneficial in many essential sectors.


 


Segment overview


 


By Solution



  • Web Content Management

  • Mobile Content Management

  • Documentation Management

  • Records Management

  • Content Workflow Management

  • Others


By Service



  • Integration

  • Support & Maintenance

  • Training


By Deployment



  • On-Premises

  • Cloud


By Organization Size



  • SMEs

  • Large Enterprises


By Vertical



  • BFSI

  • Healthcare

  • Retail

  • IT & Telecommunication

  • Energy & Utilities

  • Transportation & Logistics


Regional analysis


 


Currently, the Enterprise Content Management market is witnessing supreme growth in North America. The Enterprise Content Management (ECM) Market value was marked at USD 17.84 Billion in the year 2019 and is expected to surpass over USD 54 billion by the year 2026 with a CAGR of 17.3%. in the Northern part of America. Northern America is holding the highest market value as per records owing to the increased usage of online content and higher data generation in the IT sectors. 


 


Other than that, countries like Canada are extremely responsive to the latest technological developments. The integration of high-end technologies with smartphone technologies has increased the demand for the Enterprise Content Management Market demand. Additionally, North America is incorporating Enterprise Content Management Mobile apps that are highly efficient in transferring digital data transfer and collaborating with diverse employees from various geographical locations. SMEs and HRs are the major users of ECM solutions, especially cloud-based ECM solutions for various business processes in these regions.


 


Competitive landscape


 



  • Xerox Corporation (Connecticut, U.S.)

  • OpenText Corporation (Ontario, Canada)

  • Epicor Software Corp.(Texas, U.S.)

  • Adobe Inc. (California, U.S.)

  • Laserfiche (California, U.S.)

  • Datamatics Global Services Limited (Mumbai, India)

  • M-files Corporation (Texas, U.S.)

  • Kyocera Corporation (Kyoto, Japan)

  • Docuware Corporation (Germering, Germany)

  • Ascend Software (California, U.S.


Recent developments


 


Hybrid ECM solutions


 


The current generation IT employees work on their mobile and laptops to be more productive. Therefore the organizations face challenges as the data transfer is more and security breaches have increased. To protect the critical data on-premise solutions are used by the organizations, however, due to easy operation and comfortable factors, cloud-based techniques are highly preferred. Hence in recent times, organizations are highly utilizing the benefits of both cloud and on-premise solutions.


 


Progressive web apps


 


Progressive web apps must provide the best experience for the user irrespective of the platform used by them. They are setting a new trend in content management solutions. The building and development of apps and their standardization of the apps and mobile landscape are achieved effortlessly.


 


Report overview


 


This report has covered



  • Market overview

  • COVID 19 Analysis

  • Market dynamics

  • Cumulative growth analysis

  • Value chain analysis

  • Segment overview

  • Regional analysis

  • Competitive landscape

  • Recent developments


Segmentation Table


 


By Solution



  • Web Content Management

  • Mobile Content Management

  • Documentation Management

  • Records Management

  • Content Workflow Management

  • Others


By Service



  • Integration

  • Support & Maintenance

  • Training


By Deployment



  • On-Premises

  • Cloud


By Organization Size



  • SMEs

  • Large Enterprises


By Vertical



  • BFSI

  • Healthcare

  • Retail

  • IT & Telecommunication

  • Energy & Utilities

  • Transportation & Logistics

  • Others



Report Scope:
Report Attribute/Metric Details
  Market Size   2019-USD:40.62 Billion 2026-USD: 127.07Billion
  CAGR   18.1%
  Base Year   2019
  Forecast Period   2020-2026
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   
  Segments Covered   • By Solution (Web Content Management, Mobile Content Management, Documentation Management, Records Management, Content Workflow Management, and Others) • By Service (Integration, Support & Maintenance, and Training) • By Deployment (On-Premises and Cloud) • By Organization Size (SMEs and Large Enterprises) • By Vertical (BFSI, Retail, Healthcare, IT & Telecommunication, Energy & Utilities, Transportation & Logistics, and Others)
  Geographies Covered   • North America (US, Canada, and Mexico) • Europe (UK, Germany, France, Italy, Spain, and Rest of Europe) • Asia-Pacific (East Asia, South East Asia, India, Australia, and Rest of Asia-Pacific) • Middle East & Africa • South America
  Key Vendors   • IBM Corporation • Microsoft Corporation • Oracle Corporation • Hyland Systems Inc • M-Files Inc • Open Text Corporation • Barracuda Network Inc. • Jatheon Technologies Inc. • LSSP Corporation (Pinpoint) • Box Inc. • Adobe Inc. • Fujitsu Limited • Laserfiche • Capgemini SE • Xerox Holdings Corporation • Datamatics Global Services Limited • Docuware GmbH (Ricoh) • Newgen Software Technologies Limited
  Key Market Opportunities   
  Key Market Drivers   • Drivers • Surge in Digital Content Across Enterprises • Need for Improved, Efficient, and Centralized Content Management System • Opportunity • Inclination Towards End-to-End Cross-Platform Solutions • Challenge • Integration Issues in Content Management of Different Enterprises • Impact of COVID-19 • Impact on Demand from Emerging Economies • Increasing Need for Minimization of Risk and Improved Security • Decline IT Expenditure


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Frequently Asked Questions (FAQ) :


The segments of the market based on solution covers web content management, documentation management, records management, mobile content management, content workflow management and others.

The market will be generating revenues worth USD 76.84 Bn by 2023.

North America will hold the leading position and will be reflecting a CAGR of 16.5% during the review period.

The content management segment is assessed to expand at 15.8% during the evaluation period.

The support & maintenance services segment was valued at USD 11.15 Bn in 2017 and is anticipated to thrive at a CAGR of 16.5%.