The Global Enterprise Content Management (ECM)Market is Projected to Grow at a CAGR of 12.25% During 2022-2030: MRFR

MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Enterprise Content Management (ECM) Market.

The enterprise content management (ECM) market is estimated to reach USD 77.4 billion by 2030 egmentation and dynamics of the market to offer a better glimpse of the market in the next few years.

The enterprise content management (ECM) market is expected to witness favorable growth during the forecast period. Factors such as the surge in digital content across enterprises and the rising need for improved, efficient, and centralized content management systemsare expected to drive the market during the study period. The integration issues in content management of different enterprises have created achallenge for the enterprise content management (ECM)market. However,the inclination towards end-to-end, cross-platform solutionsis likely to present opportunities for the growth of the global market.

Segmental Analysis

The global enterprise content management (ECM) market has been classified based on solution, service, deployment, organization size, vertical, and region.

Based on solution, the global enterprise content management (ECM) market is segmented into web content management, mobile content management, documentation management, records management, content workflow management, and others.The web content managementsegment accounted for the larger market value in 2019, reaching a value of USD 9.11 billion; it is expected to register a16.9% CAGR during the forecast period.Web content management solution enables addressing the processes of creation, reviewing, approval, and publishing of web-based content. The key features of web content management include creation and authoring tools, input and presentation template design and management, dynamic publishing capabilities, and content re-use management.

By services, the global enterprise content management (ECM) market is segmented into integration service, support & maintenance, and training service.The support & maintenance segment accounted for the largest market share in 2019, with a market value of USD 14.7 billion; it is expected to register a CAGR of 18.0% during the forecast period. Implementing an enterprise content management solution into businesses enables managing business operations efficiently and securely. Moreover, installing, managing, maintaining, and repairing enterprise content management systems requires the knowledge of the various types of software and business and the ability to provide consultative advice. However, in some cases, implementation is delayed due to incompatibility between the enterprise content management platform and the existing technology environment.The detailed deployment and validation plan are essential to achieving timely implementation of enterprise content management systems.

Based on deployment type, the global enterprise content management (ECM) market is divided into cloud and on-premises.The on-premises segment accounted for the larger market share in 2019, with a market value of USD 20.8 billion; it is expected to register a CAGR of 16.6% during the forecast period. On-premises-based enterprise content management solutions are deployed by large, small, and medium scale enterprises, allowing them to physically control the levels of configuration. Moreover, imposing regulatory requirements on on-premises is easier than the cloud due to complete control of the environment.Cloud-based solutions are majorly deployed by large enterprises owing to various factors, including reduced operational costs, simplified deployments, and higher scalability.

Based on organization size, the global enterprise content management (ECM) market is bifurcated into SMEs and large enterprises. The large enterprise segment accounted for the larger market share in 2019, with a market value of USD 23.2 billion; it is expected to register a CAGR of 17.7% during the forecast period.

Based on the vertical, the global enterprise content management (ECM) market is segmented into BFSI, healthcare, retail, IT & telecommunication, energy & utilities, transportation & logistics, and others.The BFSI segment accounted for the largest market share in 2019, with a market value of USD 8.1 billion; it is expected to register a CAGR of 17.7% during the forecast period. The IT & telecommunication segment was the second-largest market in 2019, valued at USD 7.2 billion; it is projected to register a CAGR of 17.5%. In the BFSI sector, ECM solutions eliminate barriers to effective performance, such as automating task allocation & report compilation and removing paper from the process, thereby increasing efficiency and productivity. It helps larger banks and brands work with local firms in the markets and enable small brands to address competition from competitors. It facilitates higher speed forms processing using optical character recognition/ intelligent character recognition (OCR/ICR), resulting in faster response times.

Competitive Analysis

The key players of the global Enterprise content management (ECM)market includeIBM Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), Hyland Software Inc. (US), M-Files Inc. (US), Open Text Corporation (Canada), Box Inc. (US), Adobe Inc. (US), Fujitsu Limited (Japan), Laserfiche (US), Capgemini SE (France), Xerox Corporation (US), Datamatics (India), Docuware GmbH (Germany), Newgen Software Technologies Limited (India), Barracuda Networks Inc. (US), Jatheon Technologies Inc. (Canada), and LSSP Corporation (Pinpoint) (US).

Regional Analysis

The regional analysis for the global Enterprise content management (ECM)has been done for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. In 2019, North America accounted for 43.92% of the share in the enterprise content management (ECM) market,with the US dominating the regional market in terms of share, followed by Canada.