According
to the new market research "Enterprise Content Management
Market by Component (Solutions and Services), Business Function
(Accounts & Finance, Human Resources, Supply Chain Management, Operations,
and Marketing), Deployment Type, Organization Size, Vertical - Global Forecast
to 2022", The ECM market size is expected to grow from USD
31.66 Billion in 2017 to USD 67.14 Billion by 2022, at a Compound Annual Growth
Rate (CAGR) of 16.2%.
Increasing
complexities of managing exponential data growth and high need of securing
confidential data in various verticals have led to the adoption of ECM
solution. With the expected increase in the adoption of cloud ECM solutions and
services among Small and Medium Enterprises (SMEs), the ECM market is likely to
gain traction during the forecast period.
Browse and in-depth TOC on "Enterprise
Content Management Market"
73
- Tables
37
- Figures
159
- Pages
Digital Asset Management (DAM) is contributing the highest CAGR
for the ECM market.
The DAM
solution is estimated to contribute the largest market size with a CAGR of
17.8%. Digital assets consist of images, graphics, logos, animations,
audio/video clips, presentations, web pages, documents, and other digital file
formats. It is important for managing the enterprise asset lifecycle. DAM
solutions help organizations to enhance their productivity and reduce the total
cost of ownership through effective utilization and management of digital
assets.
On-premises deployment type is expected to hold a major market
size during the forecast period.
On-premises
segment holds the major portion of the ECM deployment type. On-premises
solutions are delivered for a one-time license fee along with a service
agreement. As on-premises deployment requires huge infrastructure and a
personal data center, only those organizations that can afford the cost usually
deploy this solution. Therefore, SMEs often face the dilemma of choosing
between cloud and on-premises solutions. Furthermore, it has several
advantages, including system and data control, and dedicated maintenance and
support staff.
The rapid adoption of ECM due to a strong and well-established
economy makes North America the largest market in terms of global share.
North
America is expected to hold the largest market size during the forecast period
and dominate the ECM market, as this region is extremely responsive towards the
adoption of the latest technological advancements. From 2017 to 2022, APAC is
estimated to grow at the highest rate in terms of CAGR and is expected to
become a new hotspot for ECM vendors as a revenue generating region.
Furthermore, Europe is expected to be another revenue generating a market, with
solutions market as the leading revenue generating segment.
The major
vendors that offer ECM solutions and services across the globe are Microsoft
Corporation (US), IBM Corporation (US), Hyland Software, Inc. (US), OpenText
Corporation (Canada), Oracle Corporation (US), Alfresco Software, Inc. (UK),
Everteam (France), Fabasoft (Austria), M-Files Corporation (US), Laserfiche
(US), Xerox Corporation (US), and Newgen Software Technologies Ltd. (India).
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