DUBLIN--(BUSINESS WIRE)--The "Enterprise Content Management Market by Component, Deployment Mode, Organization Size, Business Function (HR Operations, Procurement and Supply Chain Management), Vertical (BFSI, Transportation and Logistics), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global enterprise content management (ECM) market size is projected to grow from USD 40.1 billion in 2020 to USD 66.9 billion by 2025, at a CAGR of 10.8%.
The major growth factors of the ECM market include the increased need of companies to organize, categorize, and structure all of the content in a meaningful, easily explorable manner and rising demand of companies to deliver personalized content to the right audience through the right channels.
Cloud deployment mode to grow at a rapid pace during the forecast period
Advances in cloud and analytics technology, as well as the continued integration of social collaboration tools, have expanded the outlook of what ECM solutions can do. The sheer volume of content that is being created and stored can be staggering; over time, the improvements in cloud and analytics technologies would drive the need for better usability and mobility among end-users. All these signs point in the direction of cloud deployment as a primary means of maximizing ECM's effectiveness.
ECM cloud-based solutions enable organizations to avoid upfront implementation and infrastructure costs, mitigate staffing expenses, and ultimately reduce their total cost of ownership on the storage and management of content. In addition to significant cost-reduction, organizations are considering improving their ECM's ease-of-use and accessibility by implementing cloud deployment. Therefore, moving an ECM tool to the cloud makes it even easier for team members to store, retrieve, and apply content while on-the-go or working from home.
Based on solution, the eSignature segment to grow at the highest CAGR during the forecast period
There is a clear move in the business world toward all-digital business processes. Electronic, automated processes allow the kind of efficiency that old-fashioned, paper-focused processes simply cannot. One of the areas where a digital solution is clearly called for signature capture software. An effective ECM enables customers and clients to digitally sign documents, proposals, and more. An electronic signature (eSignature) solution is composed of software to sign documents electronically, which has a whole host of benefits for companies' security, organization, and efficiency. eSignatures provide companies and their customers the ability to sign electronic documents from just about anywhere. Automatic emails notify signers when their signatures are required, and with the click of a button, documents are presented for signature from any computer or mobile device.
Based on region, Asia Pacific to grow at the highest CAGR during the forecast period
APAC has witnessed advanced and dynamic adoption of new technologies and is expected to record the highest CAGR during the forecast period. APAC is expected to witness the fastest adoption of ECM solutions. Organizations from various verticals are adopting ECM. Many international players are tapping the ECM market, which is focused on all sizes of organizations. Initially, content management in this region followed a low-profiled approach. However, the increased need to manage consistent data and prompt control and visibility mechanisms has led to a wider demand among enterprises in the region. Moreover, the sale of ECM solutions has increased due to the growing need for implementing security and accessibility controls, as enhanced decision-making has made APAC a highly potential market.
Market Dynamics
Drivers
- Demand To Strengthen Corporate Information Governance Practices To Make Improvements in Compliance and Audit Management
- Growing Amount of Data and Investment in Big Data Analytics by Companies To Make Better Business Decisions
- Rising Demand To Improve Archived Content Across Channels by Keeping Crucial Content Protected
Restraints
- Impact of Stringent Government Rules and Regulations
Opportunities
- Increasing Demand for Cloud Analytics
- Growing Inclination Toward Adoption of Robotic Process Automation (RPA)
Challenges
- Lack of Skilled Workforce and Poor Management in Creating User Adoption Process
- Impact of the Covid-19 Outbreak on the Global Economy
Companies Profiled
- IBM
- Oracle
- Box
- Microsoft
- SAP
- Opentext
- Xerox
- Atlassian
- Newgen Software
- Veeva
- Fabasoft
- Ascend Software
- Alfresco
- Laserfiche
- M-Files
- Hyland
- Everteam
- Adobe
- Objective
- Nuxeo
- Systemware
- Doma Technologies
- SER Group
- GRM Information Management
For more information about this report visit https://www.researchandmarkets.com/r/tr46we
