Enterprise Content Management Market Size & Share Report 2027

Enterprise Content Management Market Forecast to 2027 – Global Analysis – by Component (Solutions and Services), Deployment Type (Cloud and On-Premise), Organization Type (Small & Medium Enterprises, and Large Enterprises), and Industry Vertical (BFSI, Government, Manufacturing, IT and Telecom, Retail, Healthcare, Transportation and Logistics, and Others)

Publication Month : Jun 2019

  • Report Code : TIPTE100000524
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 201
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The Enterprise content management market is expected to grow from US$ 12.94 billion in 2018 to US$ 32.30 billion by 2027; it is estimated to grow at a CAGR of 10.8% during 2019–2027.

Enterprise content management (ECM) enables enterprises to manage unstructured information such as word documents, PDFs, emails, and scanned images, store them securely and make them accessible to the authorized users. Growing demands for doing business efficiently is propelling the enterprise content management market size across commercial supply chains, contract management, HR processes, and government administration, among others. ECM solutions also provide enterprises with ease of operations by eliminating the dependence on paper documents and effective management of unstructured information. ECM solutions help organizations to simplify and streamline work, which is further bolstering the global enterprise content management market share.
Rising automation in filing and categorizing documents from servers, shared devices, and network drives at reduced costs is providing increased advantages as compared to the traditional methods of that normally require a great deal of effort. Businesses across the globe are increasingly implementing ECM solutions to decrease their dependence on paper, drive better customer service, increase productivity, and reduce risks. Furthermore, benefits offered by the ECM solutions such as the ability to capture documents digitally, and import information into a secure digital repository are promoting the growth of the enterprise content management market globally. Growing innovation in document capturing methodologies such as the usage of electronic forms, scanning paper documents, and managing natively digital content is further enhancing the global enterprise content management market share.
Growth in digital transformation has increased the demand for processing information about customer behaviors, sentiments, and value to the organization and utilizing it for efficient business decision making. This is anticipated to increase the adoption of enterprise content management solutions. Businesses are rapidly deploying ECM solutions for processing organizational data stored in repositories, file shares, and cloud folders across the enterprise to take concrete steps to streamline their processes relating to content services. Growth in digitized content and increased accessibility to the right content at the right time is enabling business growth across the globe. Therefore, organizations focused on digital transformation are involved in capturing the content, classifying it, and applying rules to control who can access it. This enables them to optimize business processes and increase collaboration.

 

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Enterprise Content Management Market: Strategic Insights

enterprise-content-management-market
Market Size Value inUS$ 12.94 billion in 2018
Market Size Value byUS$ 32.30 billion by 2027
Growth rateCAGR of 10.8% from 2019 to 2027.
Forecast Period2019-2027
Base Year2018
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Lucrative Regions for Enterprise Content Management Providers

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Enterprise Content Management Market Insights

 

Increasing Digital Content and Rising Adoption of Innovative Digital Solutions to Boost Enterprise Content Management Market

Organizations across the globe are utilizing the benefits of enterprise content management software solutions to efficiently manage content, increase collaboration and business transactions, and reduce downtime involving data access. Rising digital content has increased the demand for innovative digital solutions among businesses of all sizes. There is a surge in demand for effective management and storage of never-ending volume of data that seems to increase tenfold. Therefore, ECM technology is emerging as a critical component to fuel digital transformation and supporting a staggering increase in its adoption to ensure improved efficiency with a significant return on investment. Companies are focusing on modernization in capturing, managing, and controlling data, and many are continually innovating to transform the workplace. This is further propelling the enterprise content management market growth.
Growth in hybrid solutions supporting agility is further contributing to the growth of the enterprise content management market as it enables businesses to connect with information from anywhere at any time. The advent of cloud computing along with significant investments in the digital world is serving as a stepping stone for business transitions. Organizations are embracing hybrid approach to upgrade their IT infrastructure and transform content-centric solutions. A phased, smart, and scalable transition toward the hybrid environment is anticipated to offer businesses flexibility for the future. Digitization is enabling companies to convert text, images, and other media into digital form, which is further enhanced by technological advancements such as artificial intelligence and machine learning. This is further boosting the growth of the enterprise content management market.

Industry Vertical-Based Market Insights

Based on industry vertical, the enterprise content management market is segmented into BFSI, government, manufacturing, IT and telecom, retail, healthcare, transportation and logistics, and others. The retail sector is anticipated to observe significant growth. The growth is attributed to the rising demand for ECM solutions across various departments in the retail sector to optimize operations. Surge in the adoption of technology to achieve the overall corporate purpose, such as inter-communication, inter-exchange of documents, and inter-commands is further propelling the market growth in the retail sector. ECM software empowers modern retailers to efficiently track documents, retrieve reports, comply with industry regulations, enhance customer service quality and efficiency, and manage the vendor contract processes. Enterprise content management solution creates a central repository of the content store, facilitating the enterprises to store all content with easy inter-exchange of documents across departments. It also helps the retail enterprises eliminate multiple storages of digital content and avoid duplicate movement by ensuring common storage and common access across the organization. Many retail enterprises are integrating enterprise content management with the content flow to achieve efficient access to content.

Enterprise Content Management Market, by Industry Vertical – 2019 and 2027 (%)

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Players operating in the enterprise content management market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
  • In October 2020, Hyland, a leading content services provider, acquired Alfresco, a content services solutions provider’s business, including the company’s technology and products. The acquisition aims to enhance Hyland’s vision to become the world’s leading content services provider and enable it to expand its global footprint in the enterprise content management market. Alfresco’s solutions will augment Hyland’s range of content services offerings providing opportunities to engage with the open-source community and innovation. Hyland’s integration strategy enables organizations to derive value from their digital transformation investments by providing organizations with the resources they need to support new and evolving ways of working and utilizing the most comprehensive content services portfolio and offerings.
  • In May 2020, M-Files Corporation, an information management company, was recognized as a top rated and received one of the highest overall rankings, including top scores for product scalability (10.0) and likely to renew (10.0) the company’s position in enterprise content management market. The company achieved some of the highest ratings for performance, availability, and online training based entirely on feedback from its customers. M-Files excels at combining document and metadata management into one platform, its modern interface, and its support for advanced automated workflows. The company was also praised for its versatility and integration with other applications such as Microsoft Office 365.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Component, Deployment Type, Organization Type, and Industry Vertical

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies - Enterprise Content Management Market

  1. Alfresco software, Inc.
  2. DELL EMC
  3. Hyland software, Inc.
  4. IBM Corporation
  5. M-Files Corporation
  6. Microsoft corporation
  7. Newgen software technologies Ltd.
  8. Open Text Corporation
  9. Oracle corporation
  10. Xerox Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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