Enterprise Content Management Industry Overview
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Enterprise Content Management Market Analysis
The Enterprise Content Management (ECM) Market is expected to grow at a CAGR of 21.9% over the forecast period. The primary reasons for driving market demand are the new ways of digital working, content explosion across enterprise channels, and new digital channels.
- The Enterprise Content Management solutions are helping the business organization achieve process efficiency with accessibility throughout the project's lifecycle. The larger organizations generate a large amount of data from smart devices and other resources; hence the need to manage data is increasing.
- Key players in the market include Microsoft Corporation, Capgemini, OpenText Corporation, Hyland Software Inc., IBM Corporation, Xerox Corporation, Oracle Corporation, and others. These companies are making significant efforts in the global customer data platform market to create the next big thing by engaging in partnerships and making frequent product developments.
- In August 2022, Capgemini and Unity, the leading platform for creating and operating real-time 3D (RT3D) content, are collaborating to assist organizations worldwide in exploring and capitalizing on the business opportunities and benefits of immersive and metaverse experiences across industries.
- Technological advancements are also making enterprise content management systems more critical than ever. The proliferation of remote work has necessitated ECM's business continuity and collaboration features.
- With the rising concern of GDPR and data compliance, large organizations are focusing on finding a way to automate and monitor data compliance to store, manage and deliver data. At the same time, a lack of knowledge of security frameworks and the requirement of technical experts for handling enterprise content management solutions may impact organizations' adoption of these solutions.
- Apart from the growth in 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 among the significant drivers behind the shift from the companies switching from legacy ECM solutions to cloud-based ECM solutions.
- The COVID-19 pandemic positively influenced the enterprise content management market as the adoption of digital solutions is increasing, which helped in the rise of content creation. The need to streamline business operations during pandemics has accelerated data creation since business sectors increasingly handle their business operations online.
Enterprise Content Management Industry Segments
Enterprise content management refers to systematically collecting the information generated by organizations throughout their entire lifecycle using a combination of strategies, methods, and tools. The enterprise content management software helps reduce the risk associated with the data and streamline the information lifecycle with document management and the automation of process workflows.
The Enterprise Content Management Market is segmented by Type (Content Management, Document Management, Case Management, Workflow Management, Record Management, Digital Asset Management, Professional Services) By Deployment (On-premises and Cloud) By Enterprise (Small and Medium Enterprise and Large Enterprise) By End-user Industry (Telecom and IT, BFSI, Retail, Education, Manufacturing, Media and Entertainment, Government, Healthcare) and Geography.
|Digital Asset Management|
|Small and Medium Enterprise|
|By End-user Industry|
|Telecom and IT|
|Media and Entertainment|
|Other End-user Industries|
Enterprise Content Management Market Trends
This section covers the major market trends shaping the Enterprise Content Management Market according to our research experts:
Information Technology Industry is Expected to Drive Market
- The information technology industry is expected to drive the growth of the market owing to the rising adoption of cloud services by organizations to efficiently perform their business operations from remote locations.
- The key players in the market focus on cloud-based solutions that increase capability and future opportunities. In June 2022, OpenTextTM unveiled Project Titanium, the future of information management in the cloud and the next step in the company's cloud journey, at OpenText World EMEA. Through cloud-based information management, Project Titanium solidifies the organization's strategic position as a global leader in information management, providing customers with the simplicity, flexibility, and trust they need to thrive in dynamic times.
- Owing to various benefits of ECM solutions, such as scalability, reliability, and improved efficiency SMEs are encouraged to adopt ECM solutions and services rapidly.
- Information technology industries are users of a large amount of critical data and must follow standards and regulations, which require high-security infrastructure to maintain these standards. Hence, organizations are adopting enterprise content management to fulfill this requirement.
- Moreover, the enterprise content management systems help workers of the organization with increased productivity and help to deliver better customer service and products and services on time.
To understand key trends, Download Sample Report
North America is Expected to Hold Major Share
- North America is expected to hold a significant share due to adopting the latest technological developments and established infrastructure in countries like the US, Canada, and Mexico. North America is presumed to be the most significant revenue-generating region, as there is a particular focus on innovations in the US and Canada. These nations have the world's most competitive and quickly changing Enterprise Content Management(ECP) markets. A higher rate of infrastructure growth and the massive growth of data from all industry verticals are expected to make North America one of the top potential markets for growth.
- The rapid shift to the cloud in North America drives the market growth for ECM solutions. According to Epicor Software's 2021 Annual Insights Report, 94% of mid-sized essential businesses in the United States are adopting cloud in 2021, up from 25% that declared cloud a strategic priority in 2020. In addition, 94% believed the cloud would help future-proof their businesses.
- The companies in North America are looking forward to enhancing their customer offerings. For instance, In July 2022, OpenText announced the addition of three new solutions to the Salesforce AppExchange, bringing the company's total number of AppExchange offerings to six and allowing customers of any size to benefit from the OpenText content services platform's governance, productivity, and efficiency.
- The various industry verticals such as Government, BFSI, and Healthcare are adopting enterprise content management solutions to store data. The Department of the treasury of the United States has adopted enterprise content management solutions for treasury content management. The government initiated the adoption of the ECM solution, adding demand for the regional enterprise content management market.
- Moreover, the strong presence of ECM providers in the region, such as Microsoft Corporation, IBM Corporation, Hyland, OpenText Corp., and Oracle Corporation, is driving the enterprise content management market in the region. The developments by key market players in the region, such as mergers and acquisitions, are expected to add growth to the market. For instance, In April 2021, Hyland acquired Nuxeo, the content service platform and digital asset management provider. Therefore, all factors mentioned above are expected to add to the enterprise content management market demand over the forecast period.
To understand geography trends, Download Sample Report
Enterprise Content Management Market Competitor Analysis
The enterprise content management market is fragmented, with several major players operating. These players in the market with significant shares are focusing on product portfolio expansion with product innovation. Moreover, the players in the market are investing in advanced technologies to improve their capabilities.
- April 2021 - Hyland acquired content services platform and digital asset management (DAM) provider Nuxeo, bringing the entire Nuxeo business, including products and technology, under Hyland. With this acquisition, Hyland becomes the largest open-source content services provider.
- April 2021 - OpenText announced OpenText Core Content and OpenText Core Case Management, the new content services platform from the global leader in information management. Core Content and Core Case Management deliver strong records management, case management, APIs, and integration into leading applications that OpenText is recognized. This solution is expected to provide a unified approach to managing an organization’s content lifecycle in the context of its formal and informal business processes.
Enterprise Content Management Market Top Players
Hyland Software Inc.
*Disclaimer: Major Players sorted in no particular order
Enterprise Content Management Market Recent Developments
- June 2022 - Epicor, a major provider of industry-specific enterprise software to help businesses grow, has announced the acquisition of Data Interchange, a UK-based provider of Electronic Data Interchange (EDI) cloud technologies and managed services. The acquisition of Data Interchange broadens Epicor's presence in European markets. It adds to the company's portfolio of B2B integration technologies, enabling customers to connect with businesses and trading partners, increase efficiency, and drive value in the supply chain.
- March 2022 - Epicor, a provider of industry-specific enterprise software to help businesses grow, announced the acquisition of Grow Inc., a no-code, full-stack business intelligence (BI) platform that enables any user - from the boardroom to the plant floor, warehouse, or store - to make data-driven decisions using simple-to-build, simple-to-use dashboards, and interactive visualizations.
Enterprise Content Management Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Rising Need for Regulatory Content Management to Enhance Operations
4.3.2 Growing Need for Securing Confidential Data and Protection against Data Loss
4.4 Market Restraints
4.4.1 Difficulties in the Smooth Handling of Enterprise Data during Mergers and Acquisitions
4.4.2 Security Issues Associated With Cloud and Mobile Technologies
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Industry Value Chain Analysis
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Content Management
5.1.2 Document Management
5.1.3 Case Management
5.1.4 Workflow Management
5.1.5 Record Management
5.1.6 Digital Asset Management
5.1.7 Professional Services
5.1.8 Other Types
5.2 By Deployment
5.3 By Enterprise
5.3.1 Small and Medium Enterprise
5.3.2 Large Enterprise
5.4 By End-user Industry
5.4.1 Telecom and IT
5.4.6 Media and Entertainment
5.4.9 Other End-user Industries
5.5 By Geography
5.5.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.5.3 Asia Pacific
18.104.22.168 Rest of Asia Pacific
5.5.4 Latin America
22.214.171.124 Rest of Latin America
5.5.5 Middle East and Africa
126.96.36.199 United Arab Emirates
188.8.131.52 Saudi Arabia
184.108.40.206 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Microsoft Corporation
6.1.2 OpenText Corporation
6.1.3 Hyland Software Inc.
6.1.4 IBM Corporation
6.1.5 Xerox Corporation
6.1.6 Oracle Corporation
6.1.7 M-Files Corp.
6.1.8 Epicor Software Corp.
6.1.9 Alfresco Software Inc.
6.1.10 DocuWare GmbH
6.1.11 Datamatics Global Services Limited
6.1.12 Hewlett Packard Enterprise Company
6.1.13 Capgemini SE
6.1.14 Newgen Software Technologies Limited
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
9. ABOUT US
9.1 Industries Covered
9.2 Illustrative List of Clients
9.3 Our Customized Research Capabilities
Enterprise Content Management Market Research FAQs
What is the study period of this market?
The Enterprise Content Management Market is studied from 2018 - 2028.
What is the growth rate of Enterprise Content Management Market?
The Enterprise Content Management Market is growing at a CAGR of 21.9% over the next 5 years.
Which region has highest growth rate in Enterprise Content Management Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Enterprise Content Management Market?
North America holds highest share in 2021.
Who are the key players in Enterprise Content Management Market?
Microsoft Corporation, OpenText Corporation, Hyland Software Inc., IBM Corporation, Xerox Corporation are the major companies operating in Enterprise Content Management Market.
Enterprise Content Management Industry Reports
In-depth industry statistics and market share insights of the Enterprise Content Management sector for 2020, 2021, and 2022. The Enterprise Content Management research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Enterprise Content Management report PDF.