Global Enterprise Information Management Market Analysis Highlights the Impact of COVID-19, 2020-2024 | Intensive Growth of Unstructured Data Across Verticals Worldwide to Boost Market Growth | Technavio

LONDON--(BUSINESS WIRE)--The global enterprise information management (EIM) market size is expected to grow by USD 53.92 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

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Data generation is experiencing a boom across the world. In this age of big data, organizations are generating multiple petabytes of data that is stored across diverse systems, databases, files, and repositories. A massive amount of information is generated from online communication and collaboration alone. The majority of this unstructured data is generated from texts, images, audio, PDFs, PPTs, videos, social media posts and data, sensor information, surveillance data, online communication content, web content, blog content, and other digital media. The accelerated rate of data generation across verticals and effective management of massive volumes of information are essential drivers for the adoption of EIM systems. EIM is an all-inclusive platform combining the core principles and technologies of ECM, business process management (BPM), and customer experience and engagement management. Thus, the intensive growth of unstructured data across verticals worldwide will drive the growth of the market.

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As per Technavio, the rising demand for digitalization will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Enterprise Information Management Market: Rising Demand for Digitalization

The adoption of digitalization across the world by several industries, such as consumer goods, healthcare, manufacturing, and retail, is increasing. Digitalization makes the IT resources of industries prone to cyberattacks. Hence, the rising adoption of digitalization is increasing the demand for encryption management solutions, which can be used as tools to prevent cyberattacks. Technological developments such as the integration of chatbots in customer support applications and the implementation of the bring your own device (BYOD) policy across the world have increased the need for the proactive prevention of cyberattacks. Therefore, several industries are integrating processes that are based on digitalization, which is driving the growth of the global encryption management solutions market.

“Other factors such as the rising spend on IT technologies, and the generation of huge volumes of data across industries will have a significant impact on the growth of the enterprise information management market value during the forecast period,” says a senior analyst at Technavio.

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Enterprise Information Management Market: Segmentation Analysis

This market research report segments the enterprise information management market by end-user (BFSI, healthcare, manufacturing, retail, and others) and geography (North America, Europe, APAC, South America, and MEA).

The North American region led the enterprise information management market share in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth due to factors such as the strong presence and penetration of top vendors, the maturity of the industrial sector, and stringent data regulatory standards.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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