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Albany, NY, April 25, 2019 (GLOBE NEWSWIRE) -- Competition among the top players in the global enterprise content management market is expected to rise in the near future, observes Transparency Market Research (TMR). Leading players are deploying advanced and innovative technologies to provide better services to their users. They are focusing on providing cloud-based services to enhance storage and remote access facilities and enhance real-time access of information.
Players are adopting different organic and inorganic strategies to gain a larger share in the market and to mark their presences in different geographies. For instance, Alfresco is partnering with Kainos Evolve to expand its software solutions and consulting facilities. With this partnership, the company will provide content and data management solutions to healthcare platforms. The report provides information about various prominent players operating in the global enterprise content management market. It includes Hyland Software, Inc., EMC Corporation, Capgemini S.A., Pennywise Solutions Private Ltd and IBM Corporation.
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TMR states that the global enterprise content management market is likely to rise at a steady 9.0% CAGR between 2017 and 2025. The market valuation during this period is expected to reach US$19.90 bn by the end of 2025. In 2016, the market earned US$9.11 bn. organizations are deploying advanced technologies and solutions in their day-to-day working, which is expected to drive demand in this market.
Based on the solution, the demand for document management is high as compared to the other solutions. This segment is expected to rise at a significant rate over the forecast period. Geographically, developing regions in Asia Pacific are projected to lead the global enterprise content management market. Presence of a large number of players in the region is the key factor that led dominance of Asia Pacific region. Moreover, the global enterprise content management market has a huge growth opportunity in Asia Pacific region due to increasing government initiatives for data protection.
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Adoption of Enterprise Content Management by Multiple Organizations Fuel Market Performance
Organizations across the globe are making efforts to deploy advanced technologies and solutions to enhance their operation include storage, sharing data and management facilities. Significant rise in cloud-based solutions has further augmented demand for enterprise content management software. Several industries including insurance companies, banking and financial services, consumer goods, education and academia, energy and power, securities and capital markets, defense, healthcare, IT and Telecom, and media and transportation are widely adopting enterprise content management software for faster and easy operations. Growing application in various industries is projected to expand the global enterprise content management market.
Moreover, the large number of government initiatives in content management to enhance operations and a substantial rise in digital content across enterprises is expected to further fuel growth in the global enterprise content management market. Need to secure confidential data and ensuring its safety along with increased traction for risk mitigation in content management will further accelerate growth in the global enterprise content management market.
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High-Security Issues with Mobile and Cloud Technologies Challenging Growth in Global Enterprise Content Management Market
Concerning factors that might hamper the growth in the global enterprise content management market is dependent on the difficulties faced in smooth handling of enterprise data while going through mergers and acquisition. Another obstacle is faced during the existence of functional content data silos. Moreover, high-security issues with mobile and cloud technologies and the transfer of data from the old system to new systems might challenge growth in the global enterprise content management market.
Despite these impediments, the global enterprise content management market is projected to rise significantly, as cloud-based content management and SMEs are largely adopting this service. Additionally, growing inclination towards end-to-end cross-platform solutions will further create growth opportunities in the global enterprise content management market.
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The study presented here is based on a report by Transparency Market Research (TMR) titled “Enterprise Content Management Market (Component - Software and Services; Enterprise Size - Small & Medium Enterprises (SMEs) and Large Enterprises; Solution - Document Management, Content Management, Case Management, Workflow management, Record Management, Digital Asset Management, and EDiscovery; Industry - BFSI, Education, Government & Public, Healthcare, Manufacturing, Media & Entertainment, Retail, and Telecom & IT) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025”.
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The global Enterprise Content Management Market is segmented based on:
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