Enterprise Content Management Market 2020: Share, Opportunities, Growth, Emerging Technologies, And Regional Forecast To 2023
Overview:
Market Research Future (MRFR)’s latest study has revealed that the global enterprise content management market is set to expand exponentially at 17% CAGR during the forecast period 2017 to 2023. The market is estimated to reach a valuation of USD 80 Bn by the end of 2023.
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The factors responsible for the growth of the enterprise content management market include the emergence of advanced technology, growing IT landscape, and a large volume of enterprise data. The adoption of enterprise content management technology, offers data security and operational efficiency. This, in turn, is likely to accelerate the revenue creation for the market players over the next couple of years. Additionally, the innovations introduced by the key players are likely to favor the market proliferation.
Segmentation:
By component, the global enterprise content management market has been segmented into solution and service. The solution segment is sub-segmented into enterprise web content management, enterprise record management, social content management, digital asset and rich media management, and others. The service segment has been sub-segmented into consulting service, technology and integration service, and, application support & maintenance service.
By deployment, the global enterprise content management market is segmented into cloud and on-premise.
By organization size, the enterprise content management market has been segmented into small and medium enterprise, and, large enterprise.
By vertical, the global enterprise content management market is segmented into IT & telecommunication, BFSI, retail, energy & power, government and defense, healthcare and life sciences, manufacturing, transportation & logistics, media & entertainment, tourism and hospitality, and others.
Regional Analysis:
By region, the global enterprise content management market has been segmented into North America, Europe, Asia, and Rest of the World. North America is expected to hold the pole position globally during the forecast period. The presence of key players in the region is one of the key factors responsible for aiding market proliferation. Large-scale adoption of the software has been witnessed in the recent times, and the trend is poised to perpetuate through the assessment period. Additionally, the increasing application of the software across different industry verticals is likely to augment the enterprise content management market over the next couple of years.
Europe is an important growth pocket for the global enterprise content management market. The rapid industrialization coupled with technological advancements is projected to fuel demand in the market. The increasing demand from end-user industries is another driving factor of growth in the regional market.
Asia Pacific is estimated to exhibit a steep rise in the growth of the market. The growth is attributable to the digitization and developing IT infrastructure.
Key Players:
Some of the key players profiled in the report are Lexmark International, Inc. (U.S.), Newgen Software Technologies Ltd (India), Dell EMC Corporation (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Alfresco Software (U.K.), Microsoft Corporation (U.S.), Opentext Corporation (Canada), Hyland Software Inc. (U.S.), and Xerox Corp.
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