Cloud Enterprise Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The cloud enterprise management market was valued at USD 20.3 billion in 2020 and expected to reach USD 63.9 billion by 2026 and grow at a CAGR of 21.15% over the forecast period (2021 - 2026). Rising trends of enterprise mobility and wearables are spurring demand across the cloud enterprise management market. For instance, according to a study, employees wearing smart devices have been more productive in their jobs. It has been found that there is an increase of 8.5% in productivity and 3.5% more satisfaction with their jobs.

• Enterprise content management (ECM) solutions empower an organization to take full advantage of the customer information and the company knowledge embedded in its content. ECM solutions capture, store, activate, analyze, and automate business content, by providing new value from data, which was previously unstructured and unavailable.
• While content is doubling every 90 days, around 80% of the content utilized by knowledge workers for core revenue generation projects is unstructured. This critical growth of unstructured content is becoming a significant restraint for several organizations, particularly enterprises. Therefore, the number of enterprises that leverage the power of cloud computing is on the rise.
• Apart from the growth in the digital content across enterprises, easier access from remote end-points, the need for regulatory compliances and the need for protection of enterprise data against disaster are acting as other major drivers for the shift from the legacy ECM solutions to the cloud.
• However, increasing uptake of cloud computing technology and the rising trend of enterprise mobility are driving the growth of the market. Internet breakdown and bandwidth limitations are hindering the growth of the market.

Scope of the Report

Cloud enterprise content management (ECM) is the method of combining documents and other contents that are related to the business procedures or workflow of any organization on the cloud. Nowadays, enterprises are generating a significantly large amount of data that is associated with business operations. The need for proper management and regulation of this data has increased substantially. Cloud enterprise content management includes services, such as digital asset management, content management, case management, workflow management, and record management across various end users having different deployment models. 

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Key Market Trends

Hybrid Cloud Expected to Record High Adoption

• Over the past decade, organizations across the world have tried to increase their agility and scalability, in an attempt to gain a competitive edge over their rivals. In this context, organizations across the world are increasingly veering toward the adoption of hybrid clouds, to deal with demand fluctuations.
• The main aim of hybrid cloud adoption is to leverage the control and security afforded by private clouds while exploiting the flexibility of low costs. A hybrid cloud implementation implies that both the public and private clouds function as independent entities, with one or more common connections for seamless communication.
• One of the major enablers of hybrid clouds is the gradual migration from private cloud computing, as firms are increasingly focusing on data analytics for decision-making.
• Moreover, the enterprise cloud strategy of most of the firms is to deploy hybrid cloud rather than going for private and public clouds. As compared to 2018, 2019 will witness more hybrid cloud deployment. 

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