The global enterprise content management market has been estimated to reach $63000 million by 2022 growing at 23.4% CAGR during 2016-2022. The global enterprise content management market is segmented into solution, type of deployment, user type, vertical and regional outlook. In solution segment, market is divided into enterprise document management, enterprise content workflow management, enterprise document imaging and capture, enterprise records management, enterprise document collaboration, enterprise web content management, digital asset management, advanced case management, mobile content management, document output management, enterprise digital right management, E-discovery management, others. In type of deployment segment, market is divided into on premises and hosted. In user type segment market is divided into small and medium businesses (SMB’s) and large enterprises. Large enterprises is dominating the user type segment. In vertical segment, market is divided into academia and education, banking, financial services and insurance (BFSI), consumer goods and retail, government and defense, energy and power, life science and healthcare, manufacturing, IT and telecom, transportation and logistics and others.
In regional outlook, market is divided into North America, Asia Pacific, Europe and Rest of the World. North America dominates the global enterprise content management market. The region has been expected to dominate the market during the forecasted period. The major reason for high market share is owing to fast adoption of ECM in the region and increasing organization’s preference to optimize workflow. Europe holds the second largest market share followed by Asia Pacific. Asia Pacific has been expected to be the fastest growing region in the market during the forecasted period owing to rise in awareness among potential consumers for the requirement of implementation of ECM solutions which has enhanced the investments in this market in all domains including banking, financial services and insurance (BFSI), government & defense, manufacturing, tourism & hospitality, healthcare, consumer goods & retail etc. Rising technological innovations are also considered to be the key driver for this market in Asia Pacific.
The exponential upsurge in digital content with the propagation of online marketing and online customer relationship has shaped the need for highly effective tools for data management. This is one of the major factors motivating the growth of ECM market. Apart from that, the continuous growth of e-commerce is growing the need for portals to create meaningful content to target their customers in a short span of time. ECM best fits to the needs of portals for creating and sharing the structured content online, which enables online portals to reach their target audience in the least possible time. E-commerce has thus generated remarkable demand for ECM to manage, store, create, and distribute digital content via online stations. Some of the major market players are Integro, Image tech system, info media system group, Image Tech, Xerox Corporation, Oracle Corporation, Microsoft Corporation, Lexmark International Inc., etc. Acquisition, mergers and expansions are the key strategies adopted by the market players to sustain in the market.