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The Enterprise Content Management Market is segmented by Solution (Enterprise Document Management, Enterprise Document Imaging, and Capture, Enterprise Content Workflow Management, Enterprise Records Management, Enterprise Web Content Management, Digital Asset Management, and Other Solutions), Deployment (Hosted and On-premise), End User, and Region.
2018 - 2026
Fastest Growing Market:
The Enterprise Content Management (ECM) Market was valued at USD 47.29 billion in 2020 and expected to reach USD 105.56 billion by 2026 and grow at a CAGR of 25.7% over the forecast period (2021 - 2026). Automated workflows for creating the documents, editing, and publishing documents improve business processes and collaboration among staff members. Such benefits of providing the capability of a better use of the existing content have been the primary reason driving the market demand.
|Digital Asset Management|
|Small and Medium Enterprise|
|By End-user Industry|
|Telecom and IT|
|Media and Entertainment|
|Other End-user Industries|
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Paper documents have proven to be problematic, as they take up space and consume time when handled. They also have an added disadvantage of being difficult to store and risk increased perishability.
Therefore, there has been an increase in the amount of electronic data and documents managed. There have also been immense improvements in the available technology, which resulted in more secure and efficient systems to store and retrieve documents. All these factors, together, have contributed toward making document management technology one of the fastest-developing management systems in the market.
Document management enables organizations to better manage the creation, approval, revision, and consumption of electronic documents. It also provides key features, such as library services, document profiling, searching, check-in, check-out, revision history, version control, and document security. Moreover, cloud computing has brought its plethora of advantages even to the field of document management systems. It provides an easily accessible resource and repository for documents and related software, and is also helpful in being cost-effective.
However, there are both benefits and drawbacks to using cloud computing as the base for document management systems. Though it provides ease of access and reduced maintenance efforts, it also brings in potential security risks and does not provide total control.
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North America is a pioneer in the adoption of innovative solutions, which provides North America with an edge over the other regions. Additionally, several recognized IT and telecom firms are headquartered in North America, which adds to the growth of the market. Moreover, the region has a strong foothold of ECM providers, which is driving the market in the region. Some of them include, IBM Corporation, Hyland, Oracle Corporation, OpenText Corp., and Microsoft Corporation, among others.
The major players, such as Hyland, IBM Corp., and OpenText, are offering content service platform to the top fortune 100 companies, which are flexible to integrate across their business models. The players in the region are adopting mergers and acquisitions as the key strategy to stay ahead in the market. For instance, in January 2017, OpenText acquired Documentum, Dell EMC’s Enterprise Content Division, for USD 1.62 billion. This acquisition is expected to strengthen the company’s ECM solutions portfolio.
The ECM market is expected to witness significant growth over the forecast period, owing to the increase in the need for digital content with the proliferation of online marketing and online customer relationship. For instance, in the United States, mobile marketing is expected to be an engine for the online marketing industry, and accounted for more than 70% of all digital ad spend in 2018.
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The enterprise content management market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. The companies operating in the market are also acquiring start-ups working on enterprise content management to strengthen their product capabilities. In June 2018, Capgemini acquired Adaptive Lab, a digital design studio that helps businesses adjust to new technology and the accompanying shifts in customer behavior. This acquisition is expected to further help meet the growing customer demand for the company’s end-to-end digital services.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 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/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Value Chain Analysis
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Content Management
5.1.2 Case Management
5.1.3 Workflow Management
5.1.4 Record Management
5.1.5 Digital Asset Management
5.1.6 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 Service
5.5 By End-user Industry
5.5.1 Telecom and IT
5.5.6 Media and Entertainment
5.5.9 Other End-user Industries
5.6.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 Rest of Asia-Pacific
5.6.4 Latin America
18.104.22.168 Rest of Latin America
5.6.5 Middle East & Africa
22.214.171.124 United Arab Emirates
126.96.36.199 Saudi Arabia
188.8.131.52 Rest of Middle-East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Capgemini SE
6.1.2 Xerox Corporation
6.1.3 OpenText Corporation
6.1.4 IBM Corporation
6.1.5 Oracle Corporation
6.1.6 M-Files Corp.
6.1.7 Hyland Software Inc.
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 Microsoft Corporation
6.1.14 Newgen Software Technologies Limited
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability