- Rapid pace of digitization in BFSI and retail sectors nudge businesses to adopt enterprise content management for streamlining operational processes and improve decision making that rely on content
- Low cost cloud-based offerings to get traction in Asia Pacific market, and the regional market to grow at most attractive rate during 2020 - 2030
ALBANY, N.Y., Aug. 20, 2020 /PRNewswire/ -- Organizations are increasingly adopting enterprise content management market offerings to effectively obtain, collect, organize, and deliver wide spectrum of contents. The key benefits are cost reduction, access to crucial information to knowledge workers, and managing different forms of content from a unified platform.
TMR analysts for the enterprise content management (ECM) market see a huge revenue potential: the market valuation was pegged at US$ 11,927.9 Mn in 2019. Clocking CAGR of 8.5% from 2020 to 2030, the market is estimated to reach worth of US$ 29,419.1 Mn by 2030-end, globally.
Adoption of SaaS-based solution in Asia Pacific is expected to open new revenue streams in the global the enterprise content management market.
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Key Findings of Enterprise Content Management Market Report
- Among the various types of components, software segment led the market in 2019 and is expected to be the most attractive one
- Based on the enterprise size, small and medium enterprises (SMEs) segment is the leading one
- Of the various end users, the BFSI held the leading market share in 2019
- Retail segment is expected to garner growth at promising CAGR during 2020 -2030
- Among the various key regions, North America accounted for the top share in the enterprise content management market amounting to 37.9%
- Europe is witnessing rapid rise in adoption, fuelled by government mandates
Explore 412 pages of top-notch research, incisive insights, and detailed country-level projections on Enterprise Content Management Market [(By Component (Software and Services); By Enterprise Size (Small & Medium Enterprises (SMEs) and Large Enterprises); By Solution (Document Management, Content Management, Case Management, Workflow management, Record Management, Digital Asset Management, Ediscovery and others); By Industry (BFSI, Education, Government & Public, Healthcare, Manufacturing, Media & Entertainment, Retail, Telecom & IT, and Others)] - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2020 - 2030 at https://www.transparencymarketresearch.com/enterprise-content-management-market.html
Enterprise Content Management Market: Key Driving Factors and Promising Avenues
- Growing awareness of the benefits of the role of automation in end-to-end management of contents' lifecycle to organization across sectors is a key driver for the adoption of enterprise content management
- Rapid pace of business digitization around the world is a key aspect of the demand for automating content management.
- Over the years, developed regions have seen organization paying attention to regulations for the management of data such as the HIPPA.
- Enterprises in developed world are grappling with the changing updates in regulations, thereby creating a substantial demand for enterprise content management.
- SaaS-based ECM solutions are expected to gain traction over the years.
- In recent years, demand for cloud-based offerings is imparting a robust momentum to the generation to opportunities for players in the enterprise content management market. The low cost of deployment on the cloud is the reason behind the popularity of ECM for SMEs.
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Enterprise Content Management Market: Regional Assessment
On the geographical front, Asia Pacific is expected to be the most attractive market. End users have got attracted to the cost-effectiveness of cloud-based solutions. Most end-use industries have less budget so that they are reluctant to put large amount upfront on on-premise solutions. Thus, SaaS-based ECM solutions have imparted large revenues to the regional market.
North America held the dominant share in the global enterprise content management market.
The Middle East and Africa is also a promising market, with several players committing large investments in meeting the demand for end-use industries in the region.
Analyze global enterprise content management market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Enterprise Content Management Market: Competitive Landscape Assessment
Most players in the enterprise content management are focusing on meeting the needs of end users by offering cloud-based solutions. They are also keen on meeting the regulatory compliance requirements, especially of the BFIS sector. Some of the top players are Capgemini S.A., EMC Corporation, IBM, Newgen Software, Inc., and SAP.
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The Enterprise Content Management Market can be segmented as follows:
Market Segmentation:
By Component
- Software
- Services
By Enterprise Size
- Small & Medium Enterprises (SMEs)
- Large Enterprises
By Solution
- Document Management
- Content Management
- Case Management
- Workflow management
- Record Management
- Digital Asset Management
- Ediscovery
- Others
By End Use Industry
- BFSI
- Education
- Government & Public
- Healthcare
- Manufacturing
- Media & Entertainment
- Retail
- Telecom & IT
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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