The enterprise content management market is estimated to value at USD 16.6 Billion in 2023 and is likely to reach USD 38.3 Billion by 2033. The enterprise content management market is likely to grow at a promising CAGR of 8.7% between 2023 and 2033.
| Attributes | Details |
|---|---|
| Enterprise Content Management Market CAGR (2023 to 2033) | 8.7% |
| Enterprise Content Management Market Value (2023) | USD 16.6 Billion |
| Enterprise Content Management Market Value (2033) | US 38.3 Billion |
Rising standard of compliance and audit management, increasing control and visibility over corporate information that integrates and optimizes the business processes are fueling the demand for enterprise content management market.
Multiple industries ask for more optimized and compliance-friendly management programs that help their corporate structure in strengthening different distribution channels and supply chains. Here is where enterprise content management systems come into play. From BFSI to IT, the use of these content management systems is booming and expected to hold a huge market in the forecast period.
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The increased need for regulatory, compliance, and audit management amongst enterprises are fueling the sales of enterprise content management. The IT systems integrating with content management tools strengthen the corporate information governance.
The major factors driving the enterprise content management market are frequent audits, rising security risks, and regular compliance policies. Business enterprises demand maintenance of multiple documents and data required at the time of audits and protect the information from frauds and cyber-attacks.
Enterprise content management systems are used while integrating these solutions with cloud-based storage. Cloud-based solutions are easily available, while the on-premise type of content management is gaining popularity in enterprise content management.
The latest cutting-edge technological advancements have changed the way enterprise content management tools work, integrating with artificial intelligence, machine learning, and predictive learning.
Business platforms are using enterprise content management systems in order to provide solutions for record management, audit trail, content collaboration, and dashboard analytics. This enhances the operability of multiple sections of a corporate structure, increasing the productivity of the company.
COVID-19 has boosted content creation, especially social media content, due to high internet and 4G/5G networks. The transformation through the rising trend of AI – Integrated ECM systems are classifying, analyzing, and categorizing the data and information. AI-based technologies like image recognition, voice recognition, and machine learning.
Enterprise content management tools are used in 80% of unstructured data, and 70% of data is from written documents and comments. This pushes the sales of enterprise content management systems.
Data security and compliance while shifting and transferring data and information is the biggest concern in the enterprise content management market, restricting the sales of enterprise content management solutions. Company's content is largely confidential data that is very important such as accounts, recruitment data, and framework data.
Another factor that challenges the enterprise's content management is the lack of a skilled workforce and poor management. Employees need to go through skilled training programs that cost huge capital investment of the companies. Especially, covid-19 has decreased the per year revenue that can be invested.
The enterprise content management market is categorized by component, enterprise size, solution and industry vertical. These categories are further divided into small segments that expand their channels in multiple market spaces. These segments perform differently in multiple markets as they have a strong hold in multiple regions.
The deployment category is segmented into software and services while enterprise size is segmented into small & medium enterprises (SME’s), large enterprises. The solution category is divided into document management, content management, case management, workflow management, record management, digital asset management, eDiscovery and industry vertical category hold segments; BFSI, Education, Government & Public, Healthcare, Manufacturing, Media & Entertainment, Retail and Telecom & IT.
By component, the FMI study finds that the software type of deployment has the highest sales potential through 2033. The adoption of software systems is likely to grow at a CAGR of 8.8% during the forecast period.
Consumer demand for software systems is attributed to their characteristics like easy implementation, better availability, and low maintenance cost. In the future, sales of software-based enterprise content management systems are estimated to grow excessively in order to provide better end-user experience, security, and management tools. This pushes the sales of enterprise content management systems in the new regions.
By solutions, large enterprises are the biggest segment in the enterprise content management market and are expected to hold the largest portion in the forecast period. The segment is thriving at a strong CAGR of 8.2%.
The factors behind the growth of this segment are excessive use of enterprise content management and longer shelf life as these enterprises keep on upgrading the software. Small and medium sized enterprises also perform better than before as covid-19 has triggered the demand for enterprise content management solutions.
Principal Consultant
The enterprise content management market is divided into regions; North America, Latin America, Asia Pacific, Middle East and Africa (MEA) and Europe. The biggest market is United States, thriving at a CAGR of 8.4% between 2023 to 2033.
The region is expected to hold a market revenue of USD 10.5 Billion by the end of 2033. US holds the biggest forecasted revenue share as it has almost completed the digitization phase while India is the highest growing market for enterprise content management market due to excessively growing corporate spaces. India region will hold USD 2.5 Billion by the end of 2033 as it thrives on a promising CAGR of 10.4% between 2023 to 2033.
Japan also grows along with India the forecasted value of USD 2 Billion (2033) at a CAGR of 9.6% between 2023 to 2033 while China has the second biggest forecasted revenue of USD 3.2 Billion (2033) at a CAGR of 9.1%.
| Regions | CAGR (2023 to 2033) |
|---|---|
| United States | 8.4% |
| United Kingdom | 8.4% |
| China | 9.1% |
| Japan | 9.6% |
| India | 10.4% |
India is the highest growing market in the making the Asian region the highest growing region, adding Japan that is the second highest growing market for enterprise content management market with a CAGR of 9.6% between (2023 to 2033).
Growing management sector, rising IT & corporate and advent of new cutting-edge technologies like AI and ML in Asian countries like India, China and Japan are pushing the demand for enterprise content management system in the region.
The competitive landscape of enterprise content management is diversified and makes the market more exclusive for new players. Companies also release their new updated enterprise content management systems that help in enlarging their customer base. The vendor companies focus on mergers and collaborations to expand their distribution channels in new regions.
Recent Developments in the Enterprise Content Management Market
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| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East & Africa |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Germany, the United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Malaysia, Indonesia, Singapore, Australia & New Zealand, GCC Countries, Turkey, North Africa, and South Africa |
| Key Segments Covered | Component, Enterprise Size, Solution, Industry, and Region |
| Key Companies Profiled | Alfresco Software Inc.; Capgemini; Datamatics Global Services Ltd; EMC Corporation; Hyland Software Inc.; IBM Corporation; Laserfiche; M-files Inc.; Newgen Software; OpenText Corporation; Pennywise Solutions; SAP; Systemware Inc.; TCS |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is valued at USD 16.6 billion in 2023.
The software segment is expected to lead the market.
Asia Pacific is expected to exhibit the highest growth potential in the market.
The United States will reach USD 10.5 billion by 2033.
Increasing workflow efficiency, and security to provide key opportunities.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Pricing Analysis 5. Global Market Demand (Value in USD Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Market Background 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 7.1. ECM Software 7.1.1. On-premise 7.1.2. Cloud based 7.2. Services 7.2.1. Consulting 7.2.2. System Integration 7.2.3. Operation & Maintenance 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Enterprise Size 8.1. Large Enterprises 8.2. Small and Mid-sized Enterprises (SMEs) 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Solution 9.1. Document Management 9.2. Content Management 9.3. Case Management 9.4. Workflow Management 9.5. Record Management 9.6. Digital Asset Management 9.7. eDiscovery 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Industry Vertical 10.1. Banking, Financial Institutions, and Insurance (BFSI) 10.2. Education 10.3. Government & Public 10.4. Healthcare 10.5. Media & Entertainment 10.6. Retail 10.7. Telecom & IT 10.8. Manufacturing 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. East Asia 11.5. South Asia Pacific 11.6. Middle East and Africa 12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. South Asia & Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Key Countries Analysis- Market 19. Market Structure Analysis 20. Competition Analysis 20.1. Alfresco Software Inc. 20.2. Capgemini S.A. 20.3. Datamatics Global Services Ltd 20.4. EMC Corporation 20.5. Hyland Software Inc. 20.6. IBM Corporation 20.7. Laserfiche 20.8. M-files Inc. 20.9. Newgen Software 20.10. OpenText Corporation 20.11. Pennywise Solutions 20.12. SAP 20.13. Systemware Inc. 20.14. TCS 21. Assumptions and Acronyms Used 22. Research Methodology
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Enterprise Content Management Market
