Westford, USA, Oct. 08, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global Enterprise Content Management Market will reach a value of USD 114.06 billion by 2031, with a CAGR of 10.30% during the forecast period (2024-2031). Enterprise content management comprises extensive strategies, tools, and methods used by businesses to manage, store, record, preserve, and deliver documents and content associated with business processes. Today, ECM solutions are vital for businesses willing to enhance their operations, improve decision-making, and obey all compliances. The importance of enterprise content management in today’s scenario is crucial since it directly affects productivity, efficiency, and competitiveness. The enterprise content management market is fueled by the growing integration of improved technologies like BPM (Business Process Management), NLP, automation, 5G, and cloud computing.
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Browse in-depth TOC on the "Enterprise Content Management Market"
- Pages – 181
- Tables – 95
- Figures – 76
Enterprise Content Management Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 52.06 billion |
| Estimated Value by 2031 | USD 114.06 billion |
| Growth Rate | Poised to grow at a CAGR of 10.30% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Offering, Business Function, Deployment Mode, Organization Size and Vertical |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Growing number of patent filings by major market players |
| Key Market Opportunities | Growing Adoption of Big Data Analytics Transforming Next-Gen ECM |
| Key Market Drivers | Growing Need for Audit Management to Improve Corporate Governance |
Web Content Management Segment to Hold Significant Growth Due to Relatively Enhanced Performance
By solution, the web content management segment held the majority share of the market in the previous years and is expected to lead over the forecast period owing to its outstanding performance compared to other systems. These solutions can be enhanced by the capabilities of AI for unique needs, thus improving content development, user experience, and confirming seamless operation on any system. On the other hand, the mobile content management segment will hold a larger share of the market due to its broader capacity to allow working from different locations, quick entry, and collaboration among individuals. They address the need for transforming CMS which is also safe as businesses are emphasizing actively flexibility, thus the segment growth.
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BFSI Segment to Lead the Market Due to Higher Volume of Sensitive and Complex Data
By industry vertical, the BFSI segment registered a majority share of the market in the past years and will continue to lead in the future also owing to the need for strong compliance and security measures, strict regulatory needs, and a growing volume of sensitive data. The growth is also impacted by the need for maximized workflows, safe handling of data, and efficient document management to satisfy the complex regulatory and operational needs of industry. Conversely, the IT & telecommunication segment is projected to grow notably over the forecast period owing to the increasing demand for massive data management systems, which are alterable and flexible, improving efficient communication. These enhanced integration and effectiveness features are majorly propelling the segment's growth.
North America to Dominate the Market Due to Increased Adoption by Growing Number of Businesses in Leading Nations
Region-wise, North America held a notable market share in the past years and is anticipated to lead the market in the future as well owing to the need for effective management, storage, and protection of digital content by businesses in the United States. Such solutions enhance cooperation and effectiveness by managing workflow automation and digital assets, and more from guaranteeing law compliance. Increasing data volume by businesses is also fueling the need for ECM solutions.
The market in Asia-Pacific is expected to be the fastest-growing due to improving IT infrastructure, growing cloud adoption, and mounting digital transformation in different nations. The market in the region is also progressing due to the increasing number of businesses and the rising need for effective CMS. Furthermore, escalating technological expenses, supportive government regulations, and rising focus on operational effectiveness is also impacting the market growth in Asia-Pacific.
Enterprise Content Management Market Insight
Drivers:
- Growing Digital Transformation
- Growing Adoption of Cloud
- Heavy Integration of Automation and Artificial Intelligence
Restraints:
- Data Security Issues
- Significant Implementation Costs
- High Initial Costs
Prominent Players in Enterprise Content Management Market
The following are the Top Enterprise Content Management Companies
- Microsoft (US)
- OpenText (Canada)
- Box (US)
- Hyland (US)
- IBM (US)
- Adobe (US)
- Xerox (US)
- Atlassian (Australia)
- KYOCERA Corporation (Japan)
- Oracle (US)
Key Questions Answered in Global Enterprise Content Management Market Report
- What is the growth rate of the Global Enterprise Content Management Market by 2031, according to SkyQuest Technology?
- Which solution is leading in the Enterprise Content Management Market?
- What are the opportunities and challenges for the industry players in the Enterprise Content Management Market?
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This report provides the following insights:
Analysis of key drivers (improved collaboration by ECM, amplifying data volume, strict regulatory compliance driving the need for ECM), restraints (complex integration with existing infrastructure, resistance to change, data privacy issues), opportunities (mobile and remote access, integration of ML and AI, industry-specific solutions), and challenges (scalability issues, complexity of systems, vendor lock-in) influencing the growth of enterprise content management market.
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the enterprise content management market
Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the enterprise content management market
Market Development: Comprehensive information on lucrative emerging regions
Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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