According to Future Market Insights (FMI), the enterprise content management market is forecasted to reach a net worth of US$ 35.8 Bn in 2032 from US$ 14.2 Bn in 2021. It is estimated to witness a higher CAGR of 8.7% over the forecast years. Adoption of enterprise content management or ECM solutions by all sectors of the economy is a major shift experienced by the digital marketing sphere of the global market.
Over these years, different types of enterprise content management systems have entered the market, making the global market more competitive than before. A major driving factor for the enterprise content management governance systems was the outbreak of the covid-19 pandemic as most of the business operations proliferated into the remote work environments creating a huge opportunity for the developers of enterprise CMS solutions across the globe.
Also, the growing trend of acquiring customers on a real-time basis through proper creation, publishing, and management of enterprise content over the online website has further boosted the requirement for services for managing enterprise content in the global market. The growing complexity of various tools used in the solutions for ECM lifecycle and the dearth of sufficient manpower to operate it is anticipated to limit the growth of the enterprise content management market.
Key Takeaways
- Over the forecast years, the growth rate of different types of enterprise content management systems is predicted to experience year-on-year growth of 8.7%, reaching a valuation of about US$ 19.9 Bn by the end of the year 2025.
- The software segment is the top-performing component of the enterprise content management market, with an anticipated CAGR of 8.8%. The market value of this segment is predicted to reach nearly US$ 19.34 Bn by the year 2032, going up from US$ 7.6 Bn in 2021.
- By the size of end users, the large enterprises are the dominant contributing segment of the market for managing enterprise content. The total contribution recorded by this segment is estimated to be US$ 19.44 Bn in the year 2032.
- North America is the leading region for the enterprise CMS platforms occupying a market share of almost 30%. US is the top-performing country in this segment, with a predicted market value to reach US$ 10.5 Bn by the end of this forecast period.
- In the Asia Pacific, India has emerged to be the highest growing region with a record CAGR of 10.4%. Some of the top ECM solutions companies in the region are projected to contribute immensely in the coming years and take the overall valuation up to US$ 2.5 Bn by the year 2032.
Competitive Landscape
The major players operating in the global enterprise content management market are Alfresco Software, Inc., Capgemini S.A., Datamatics Global Services Ltd., EMC Corporation, Hyland Software, Inc., IBM Corporation, Laserfiche, M-files Inc., Newgen Software, Inc., OpenText Corp., Pennywise Solutions Private Limited, SAP SE, Systemware, Inc., and Tata Consultancy Services (TCS) Ltd.
- Two new content service platforms were launched by Open Text Inc. in April 2021 by combining content management, case management, and integration. These new top enterprise CMS platforms by the name of Open Text Core Content and Open Text Core Case are anticipated to grow the popularity of the company by integrating ECM lifecycle in various formal and informal business processes.
- Laserfiche released a new version of its solution for managing enterprise content is March 2021 by adding a number of extra features. It has introduced the provision for direct sharing of self-hosted systems, making it a more popular ECM solution among the end users.
Key Segments
By Component:
- Software
- On-premise
- Cloud based
- Services
- Consulting
- System Integration
- Operation & Maintenance
By Enterprise Size:
- Small & Medium Enterprise (SME’s)
- Large Enterprises
By Solution:
- Document Management
- Content Management
- Case Management
- Workflow Management
- Record Management
- Digital Asset Management
- eDiscovery
By Industry Vertical:
- Banking, Financial Institutions, and Insurance (BFSI)
- Education
- Government & Public
- Healthcare
- Media & Entertainment
- Retail
- Telecom & IT
- Manufacturing
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe
Read More Information - https://www.futuremarketinsights.com/reports/enterprise-content-management-market
