NEW YORK, June 26, 2023 /PRNewswire/ -- As per Facts and Factors study, the global enterprise content management (ECM) market size was nearly $11.04 billion in 2022 and is predicted to surge to about $30.07 billion by 2030 along with garnering the highest growth rate of 14.4% from 2023 to 2030.
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Enterprise Content Management Market: Overview
Enterprise Content Management (ECM) has become more complex in recent years. It helps in preventing data violations and financial fraud with government laws aiding them in preventing these violations & frauds. Firms are also required to effectively manage content by integrating ECM tools with business intelligence tools. Technological breakthroughs are making the use of enterprise content management (ECM) tools more significant. Breakthroughs in machine learning algorithms, smartphone technology, and cloud computing will steer the demand for enterprise content management (ECM) tools across the globe.
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Key Insights:
- As per the analysis shared by our research analyst, the global enterprise content management (ECM) market is predicted to expand annually at the annual growth rate of around 14.4% over the forecast timespan (2023-2030)
- In terms of revenue, the global enterprise content management (ECM) market size was evaluated at nearly $11.04 billion in 2022 and is expected to reach $30.07 billion by 2030.
- The global enterprise content management market is anticipated to record massive growth over the forecast period owing to a rise in construction activities and growing renewable energy trends.
- Based on solutions, the web content management segment is predicted to contribute majorly towards the global market share over the forecast timeline.
- In terms of enterprises, the large enterprises segment is expected to account for a major share of the global market in 2023-2030.
- On the basis of deployment, the cloud segment is set to register the fastest CAGR over the period from 2023 to 2030.
- Based on the industry vertical, the healthcare & life sciences segment is predicted to record massive growth over the forecast period.
- Region-wise, the Asia-Pacific enterprise content management (ECM) market is set to register the highest CAGR during the assessment period.
Facts and Factors published the latest report titled "Enterprise Content Management (ECM) Market Size, Share, Growth Analysis Report By Solutions (Document Management, eDiscovery, Web Content Management, and Digital Asset Management), By Deployment (Cloud and On-Premise), By Enterprise Size (SMEs and Large Enterprises), By Industry Vertical (BFSI, IT & Telecom, Healthcare & Life Sciences, Consumer Goods & Retail, Government, and Transportation & Logistics), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 - 2030" into their research database.
Industry Dynamics:
Global Enterprise Content Management Market: Growth Drivers
- Growing penetration of ECM software in various sectors will steer the global market surge by 2030.
Growing demand for handling big data generated across a slew of organizations with extensive geographic presence and a rising consumer base is anticipated to boost the global enterprise content management market trends. The massive need for regulating content management services for improving their functionality is predicted to boost global market growth. Firms are investing in ECM tools for incorporating compliance requirements, reducing risks, and enhancing efficiency apart from ensuring the integrity of content assets. The move will boost the expansion of the global market.
Nevertheless, a rise in preliminary investment costs can put brakes on the expansion of the enterprise content management industry across the globe. Giant firms produce big unstructured data and processing this data needs huge costs. This, in turn, will inhibit the global industry expansion in the years ahead. Apart from this, the growing demand for AI-driven ECM tools is likely to open new growth avenues for the industry across the globe. This will nullify the negative impact of hindrances on the growth of the global industry.
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Global Enterprise Content Management Market: Segmentation
- The global enterprise content management (ECM) market is divided into solutions, deployment, enterprise size, industry vertical, and region.
The solutions segment of the enterprise content management (ECM) market is sub-segmented into document management, eDiscovery, web content management, and digital asset management segments. Furthermore, the document management segment, which amassed majorly towards the global market share in 2022, is set to register the highest CAGR over the assessment period. The growth of the segment in the coming years can be owing to low document loss & efficient document maintenance costs translating into huge demand for ECM solutions.
In terms of deployment, the enterprise content management industry across the globe is segmented into cloud and on-premise segments. Moreover, the cloud segment, which dominated the segmental growth in 2022, is anticipated to record the highest CAGR in the forecast timeline. The segmental growth over the forecast timeframe can be owing to the reduced costs and easy accessibility of documents from distant locations.
On the basis of enterprise size, the enterprise content management market globally is bifurcated into small & medium-sized enterprises and large enterprises segments. Moreover, the large enterprises segment, which accounted for about 45% of the global market share in 2022, is predicted to establish its leadership position even in the ensuing years. The segmental surge can be ascribed to surging investments in digital marketing solutions leading to humongous demand for ECM tools in large enterprises.
Based on the industry vertical, the enterprise content management (ECM) industry globally is sectored into BFSI, government, IT & telecom, consumer goods & retail, healthcare & life sciences, and transportation & logistics segments. Moreover, the healthcare & life sciences segment, which accounted for a lucrative share of the global market in 2022, is predicted to register the highest gains in the near future. The segmental expansion can be credited to the increase in acceptance of eCommerce & cloud computing tools in the healthcare & life sciences segment.
Recent Developments:
- In the first half of 2021, Hyland Software Inc., a key player in the enterprise content management industry, introduced new products such as the content composer foundation, content foundation enhancement pack, and Brainware foundation. The strategic move is likely to embellish the demand for ECM software across a slew of industries globally.
- In the first quarter of 2023, Newgen Software, a key provider of low code-driven online transformation tools, announced the launch of Newgen OmniDocs Connector, an enterprise content management (ECM) solution, on its cloud market space. The initiative will enlarge the scope of demand for ECM solutions in the software industry.
- In the second half of 2019, Datamatics Global Services Limited, an Indian firm providing IT, data management, consulting, and business process management solutions, acquired CIGNEX Global Holding Corporation, a major SAP connect service provider. The move is predicted to increase the presence of the firm in the U.S., India, and Singapore.
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List of Key Players in Enterprise Content Management Market:
- Xerox Corporation
- Epicor Software Corporation
- Laserfiche
- OpenText Corporation
- Adobe Inc.
- M-files Corporation
- Datamatics Global Services Limited
- Kyocera Corporation
- Ascend Software
- Docuware Corporation
- Others
Key questions answered in this report:
- What are the growth rate forecast and market size for Enterprise Content Management Market?
- What are the key driving factors propelling the Enterprise Content Management Market forward?
- What are the most important companies in the Enterprise Content Management Market Industry?
- What segments does the Enterprise Content Management Market cover?
- How can I receive a free copy of the Enterprise Content Management Market sample report and company profiles?
Report Scope:
Report Attribute | Details |
Market size value in 2022 | USD 11.04 Billion |
Revenue forecast in 2030 | USD 30.07 Billion |
Growth Rate | CAGR of almost 14.4% 2023-2030 |
Base Year | 2022 |
Historic Years | 2016 - 2021 |
Forecast Years | 2023-2030 |
Segments Covered | By Solutions, Deployment, Enterprise Size, Industry Vertical, and Region |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2023 to 2030 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | Xerox Corporation, Epicor Software Corporation, Laserfiche, OpenText Corporation, Adobe Inc., M-files Corporation, Datamatics Global Services Limited, Kyocera Corporation, Ascend Software, Docuware Corporation, and others. |
Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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Regional Dominance:
- North American Enterprise Content Management (ECM) market to accrue huge revenue gains over the forecast period.
North America, which garnered more than three-fifths of the global enterprise content management (ECM) market revenue in 2022, is anticipated to accrue massive revenue during the forecast timeline. The regional market expansion over 2023-2030 can be subject to a surge in investment in ECM software by BFSI and government sectors in the countries such as Canada and the U.S.
Furthermore, growing penetration of ECM software in various end-use sectors with favorable initiatives will proliferate the regional market size. The presence of giant players in the sub-continent will further drive regional market trends.
Furthermore, the Asia-Pacific enterprise content management (ECM) industry is predicted to register the highest CAGR over the anticipated timeline. The factors that are likely to measure the expansion of the regional market are the large-scale use of enterprise content management (ECM) tools in small & medium-sized firms in the countries such as India, Indonesia, Japan, Taiwan, Malaysia, and Singapore.
Global Enterprise Content Management Market is segmented as follows:
Enterprise Content Management Market: By Solutions Outlook (2023-2030)
- Document Management
- eDiscovery
- Web Content Management
- Digital Asset Management
Enterprise Content Management Market: By Deployment Outlook (2023-2030)
- Cloud
- On-Premise
Enterprise Content Management Market: By Enterprise Size Outlook (2023-2030)
- SMEs
- Large Enterprises
Enterprise Content Management Market: By Industry Vertical Outlook (2023-2030)
- BFSI
- IT & Telecom
- Healthcare & Life Sciences
- Consumer Goods & Retail
- Government
- Transportation & Logistics
Enterprise Content Management Market: By Region Outlook (2023-2030)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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