CHICAGO, May 23, 2024 /PRNewswire/ -- Cloud usage, AI and
machine learning for automation and analytics, and interaction with
other enterprise systems are the key drivers of Enterprise Content
Management's (ECM) future. Improved user experience and mobility,
increased security and compliance, and the creation of Content
Services Platforms (CSPs) for more adaptable, user-centric
solutions are among the focus areas.
The global Enterprise Content
Management Market will grow from USD 47.6 billion in 2024 to USD 78.4 billion by 2029 at a compounded annual
growth rate (CAGR) of 10.5% during the forecast period, according
to a new report by MarketsandMarkets™.
Browse in-depth TOC on "Enterprise Content Management
Market"
322 - Tables
63 - Figures
354 - Pages
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Scope of the Report
Report
Metrics
|
Details
|
Market size available
for years
|
2019–2029
|
Base year
considered
|
2023
|
Forecast
period
|
2024–2029
|
Forecast
units
|
Value (USD
Million/Billion)
|
Segments
Covered
|
Offering, Organization
Size, Business Function, Deployment Mode, and Vertical
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East Africa, and Latin America
|
Companies
Covered
|
Some of the significant
enterprise content management market vendors are Microsoft (US),
OpenText (Canada), Box (US), Hyland (US), IBM (US), Adobe (US),
Xerox (US), Atlassian (Australia), KYOCERA Corporation (Japan), and
Oracle (US).
|
The increasing volume of digital content drives the enterprise
content management market, and organizations must manage it
efficiently. With the rapid growth of data, organizations face
challenges related to content creation, storage, retrieval, and
security. ECM solutions help organizations streamline content
management processes, improve collaboration, and ensure compliance
with regulatory requirements. They enable organizations to access
their content from anywhere, anytime, using any device, making them
ideal for remote work environments and distributed teams.
Additionally, ECM solutions eliminate the need for organizations to
invest in expensive hardware and infrastructure, making them an
attractive option for small and medium-sized businesses.
The increasing focus on regulatory compliance and data security
drives the enterprise content management market. Organizations
across various industries are subject to stringent regulations
regarding managing and protecting sensitive information. ECM
solutions help these organizations comply with regulations by
providing features such as document encryption, access controls,
audit trails, and records management.
The services segment is expected to capture the highest CAGR
during the forecast period by offering segment.
The offering segment of the enterprise content management market
is segmented into solutions and services. The services segment
accounted for the highest CAGR during the forecasted period.
Companies are one of the critical aspects of the enterprise content
management market, which provide their customers with knowledge and
assistance in implementing, customizing, and optimizing their ECM
solutions. Implementation services become essential for all
organizations that want to implement ECM solutions properly. These
services include claiming, planning, and managing projects to
adjust the ECM solution to align with the organization's objectives
and needs. Implementation services are also performed through
tasks, including data migration, configuration, and integration
with the existing systems, thus making an easy transition from the
old ECM solution to the new one.
Moreover, this involves providing services such as training and
change management that aim at cultivating the employees' knowledge
of how to use the system most effectively, enabling a smoother
adoption process. Further, support & maintenance services are
necessary for enterprises to be sure that the execution and
operability of their ECM solutions are top-notch, secure, and
stable. The services offered include technical assistance,
troubleshooting, and software versions to solve problems and keep
ECM software from encountering any issues. Secondly, managed
services can be deployed with proactive monitoring, performance
optimization, and system administration to take off a part of
regular management duties from the organization's IT team. Through
their specific services to ensure ECM investment's profitability
and sustainability, ECM vendors contribute to an organization's
general value of ECM and its success over time.
Based on the solution, the web & mobile content
management segment is expected to hold the largest market share
during the forecast period.
The enterprise content management market, by solution, is
segmented into document management, web & mobile content
management, case management, record management, digital asset
management, image & capturing, eDiscovery, collaborative
content management, and other solutions. It is expected that during
the forecast period, the web & mobile content management
segment is expected to hold the largest market size and share in
the enterprise content management market. Web & mobile content
management is one of the significant elements of the enterprise
content management market as it provides organizations with tools
to deliver content across several online and mobile channels
effectively. These solutions offer a single digital hub for
creating, editing, and publishing web & mobile content, such as
text, images, videos, and interactive features. Web & mobile
CMS offer features such as content authoring, version management,
and workflow automation that help organizations shorten the length
of the content creation and publishing process. They also
incorporate a responsive design, ensuring the material is displayed
correctly on any device and screen size. Besides the content
management solutions on web & mobile cover analytics tools that
organizations can use to understand user engagement and behavior,
they can also modify their content strategy for a better user
experience. By providing a centralized channel for handling web and
mobile content, the ECM solutions thus help organizations improve
efficiency, enable collaboration, and ultimately deliver a coherent
digital experience to the audiences through multiple channels.
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North America is projected
to hold the largest market share during the forecast
period.
By region, North America is
projected to hold the most market share in the worldwide enterprise
content management market in 2024, and this pattern is anticipated
to be valid throughout the forecast period. ECM solutions and
services are crucial in North
America, as they help organizations efficiently manage,
store, and secure their digital content. The demand for ECM
solutions has been steadily growing due to the increasing volume of
digital content generated by businesses. In North America, ECM solutions cater to various
industries such as healthcare, finance, government, and
manufacturing. This enables organizations to streamline content
management processes, ensure regulatory compliance, and improve
collaboration and productivity.
North America's enterprise
content management market is highly competitive and technologically
advanced. Key players in the region include IBM Corporation,
OpenText Corporation, Microsoft Corporation, and Oracle
Corporation, among others. These vendors offer various ECM
solutions and services, including document management, record
management, digital asset management, and workflow automation.
There has been a shift towards cloud-based ECM solutions in recent
years, driven by scalability, flexibility, and cost-effectiveness.
Additionally, adopting AI and ML technologies further drives
innovation in the enterprise content management market, enabling
organizations to automate content-related processes and gain
valuable insights from their data. With the increasing digitization
of businesses and the growing importance of efficient content
management, North America's
enterprise content management market is expected to continue its
growth trajectory in the coming years.
Top Companies in Enterprise Content Management Market
Some of the significant enterprise content management vendors
include Microsoft (US), OpenText (Canada), Box (US), Hyland (US), IBM (US),
Adobe (US), Xerox (US), Atlassian (Australia), KYOCERA Corporation (Japan), and Oracle (US).
Recent Development
- In April 2024, Hyland, a leading
global provider of intelligent content solutions, launched Hyland
Experience Automate (Hx Automate). This service is one of the first
available from the next-generation, cloud-based platform, Hyland
Experience (Hx). This new service is compatible with existing
Hyland platforms, allowing customers to leverage the latest
innovation from Hyland Experience while maximizing the value of
their current solutions.
- In April 2024, Box announced its
collaboration with Bulletproof, an award-winning independent global
brand agency, which selected Box as its single centralized cloud
platform to manage content and production work. Bulletproof is
deploying Box across the organization to eliminate on-premise
servers and facilitate secure collaboration with clients and
partners.
- In February 2024, Microsoft
announced its collaboration with SysKit, a company dedicated to
simplifying management and governance in Microsoft 365, and
announced the availability of Syskit Point on Microsoft AppSource.
This integration underscores SysKit Point's commitment to providing
seamless experiences for Office 365 users, empowering them with
robust tools to optimize their governance, security, and compliance
efforts within the Microsoft environment.
- In January 2024, Oracle's content
management enabled users to export and import repository content.
The Export Jobs and Import Jobs pages would allow users to track
new jobs.
- In January 2024, Datamax extended
its strategic partnership with KYOCERA. This partnership further
bolsters Datamax's ability to adhere to its tagline, "Relevant
Technology. Raving Results."
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Enterprise Content Management Market
Advantages
- ECM streamlines document management processes, automating tasks
such as data entry, filing, and retrieval, which enhances overall
operational efficiency and reduces the time employees spend on
manual tasks.
- ECM systems facilitate better collaboration by providing
centralized access to documents and content, allowing teams to work
together seamlessly regardless of their physical location.
- ECM solutions help organizations comply with regulatory
requirements by providing robust security features, audit trails,
and records management capabilities, ensuring that sensitive
information is protected and easily accessible for compliance
audits.
- By reducing reliance on paper and physical storage, ECM systems
lower costs associated with printing, shipping, and storage.
Additionally, improved efficiency and productivity lead to overall
cost reductions.
- ECM provides advanced search and analytics capabilities,
allowing businesses to extract valuable insights from their
content, leading to more informed decision-making and strategic
planning.
Report Objectives
- To define, describe, and forecast the enterprise content
management (ECM) market based on offering, business function,
deployment mode, organization size, vertical, and region.
- To provide detailed information about the significant factors,
such as drivers, opportunities, restraints, and challenges,
influencing the growth of the market
- To analyze the opportunities in the market for stakeholders by
identifying the high-growth segments of the market
- To forecast the market size concerning five main regions —
North America, Europe, Asia
Pacific, the Middle East
& Africa, and Latin America
- To analyze the subsegments of the market concerning individual
growth trends, prospects, and contributions to the overall
market
- To profile the market's key players and analyze their size and
core competencies comprehensively.
- To track and analyze the competitive developments, such as
product enhancements, product launches, acquisitions, partnerships,
and collaborations, in the enterprise content management market
globally
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