Enterprise Content Management Global Market Report 2024

The enterprise content management market size has grown strongly in recent years. It will grow from $33.93 billion in 2023 to $36.89 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth observed in the historical period can be attributed to factors such as mobile integration, regulatory changes, compliance demands, globalization, paperless initiatives, and the increase in data volume.

The enterprise content management market size is expected to see strong growth in the next few years. It will grow to $53.73 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The anticipated growth in the forecast period can be attributed to factors such as remote workforce dynamics, an increased emphasis on security, digitization, a growing demand for automation, the desire for personalized user experiences, and the focus on green computing. Noteworthy trends expected in the forecast period include workflow optimization, content analytics and insight, hybrid ECM deployments, integration with business processes, and content personalization.

The enterprise content management market is poised for growth, driven by the escalating volume of content generated in the era of digitalization. The ability to efficiently store and manage petabytes of natively stored and object-stored data is crucial in handling the surge in data volume. Organizations find a solution in enterprise content management (ECM) systems, which securely manage content and information throughout their lifecycle. For instance, according to Kommando Tech, a Czech Republic-based independent review site focused on providing accurate information about tech-related products and services, March 2022 witnessed the production of 2.5 quintillion bytes of data daily, with the last two years contributing to 90% of all data creation. Unstructured data poses a challenge for 95% of businesses. The big data sector is expected to reach a value of $77 billion by 2023. Consequently, the proliferation of content due to digitalization is a driving force behind the growth of the enterprise content management market.

The anticipated growth of the enterprise content management market is closely tied to the escalating focus on digital transformation. Digital transformation involves the comprehensive and purposeful integration of digital technology, processes, and capabilities throughout a company, revolutionizing its operations and delivering advantages to customers. Enterprise content management plays a pivotal role in digital transformation by streamlining workflows, fostering collaboration, and ensuring the efficient management of digital assets. This, in turn, fuels innovation and agility across organizational processes. As an illustration, according to the European Investment Bank's EIB Investment Survey conducted in May 2022 on around 13,500 enterprises in the European Union, the USA, and the United Kingdom, between April and July 2021, 46% of EU enterprises, in contrast to 58% of US organizations, acknowledged taking steps toward digitalization. Moreover, the adoption of modern digital technologies is more pronounced in the United States (66% compared to 61% in the European Union). Hence, the increasing emphasis on digital transformation is a key driver for the enterprise content management market.

The enterprise content management market is witnessing a surge in popularity of technological innovations as a key trend. Leading companies in the market are actively introducing new technologies to maintain and enhance their positions. An example of this trend is evident in the actions of Data metrics, an India-based IT and BPM service company specializing in Intelligent Solutions. In January 2021, Data metrics unveiled a new version of TruCap+, a content management product. TruCap+ stands out as an AI-enabled Intelligent Document Processing (IDP) solution, offering a template-free approach that significantly reduces setup time by 30% to 70%. This eliminates the burden of building and maintaining templates for each document type and version. The result is that enterprises can achieve improved Straight-Through Processing (STP) with enhanced accuracy and faster time to value, thanks to the capabilities of TruCap+.

Major players in the aluminum curtain wall market are directing their focus towards technologically advanced products, such as overhauled content management systems, to better cater to the needs of their existing consumers. An overhauled content management system (CMS) involves a comprehensive redesign of an existing CMS, encompassing significant enhancements, updates, or modifications to its framework, features, user interface, and functionality. As an example, in April 2022, HeartCore Enterprises, Inc., a Japanese company specializing in corporate content management systems, unveiled an upgraded content management system within HeartCore’s customer experience management platform. This platform streamlines website operations, enabling users to effortlessly create, maintain, and edit website content without requiring specialized technical skills. The enhanced version facilitates headless distribution of diverse content, centralized administration of emerging Product Information Administration (PIM) and Digital Asset Management (DAM), serving as a hub for all content delivery, role-based management, and editing operations. Users can also manage prospects, identify hot leads, and support SEO objectives through marketing automation and content customization.

In September 2022, Vista Equity Partners, a US-based investment firm specializing in corporate software, data, and technology-enabled companies, along with Evergreen Coast Capital Corp., a US-based private equity firm, completed the acquisition of Citrix Systems Inc. for approximately $16.5 billion. They subsequently merged it with TIBCO Software Inc., a US-based enterprise content management company. This merger has given rise to a new global leader in enterprise software, positioned for both size and growth. Citrix Systems, Inc. is known for its expertise in cloud computing, virtualization technology, and enterprise content management, based in the United States.

Major companies operating in the enterprise content management market report are Microsoft Corporation, Dell Technologies Inc., International Business Management Corporation, Oracle Corporation, SAP SE., Fujitsu Limited, Capgemini SE, Adobe Inc., Xerox Corporation, Open Text Corporation, Atlassian Corporation, Zoho Corporation, Box Inc., Laserfiche, Hyland Systems Inc., Nuxeo Corporation, Systemware Inc., KnowledgeLake Inc., Newgen Software Technologies Limited, DocStar, M-Files Inc., SpringCM Inc., Alfresco Software Inc., Ademero Inc., Objective Corporation Limited, LSSP Corporation, SER Group, Fabasoft AG.

North America was the largest region in the enterprise content management market in 2023. The regions covered in the enterprise content management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the enterprise content management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Enterprise content management encompasses key solutions including records management, case management, document management, mobile content management, imaging and capturing, web content management, and various other solutions. Records management involves overseeing an organization's material throughout its lifecycle, encompassing documents, spreadsheets, contracts, and scanned photographs. It is categorized by deployment into two modes: on-premise and cloud deployment. Essential services such as integration, support and maintenance, and training are widely utilized across diverse industry verticals such as BFSI, IT and telecommunications, energy and utilities, government and public sector, healthcare and life sciences, retail and consumer goods, manufacturing, and others.

The enterprise content management market research report is one of a series of new reports that provides enterprise content management market statistics, including enterprise content management industry global market size, regional shares, competitors with an enterprise content management market share, detailed enterprise content management market segments, market trends and opportunities, and any further data you may need to thrive in the enterprise content management industry. This enterprise content management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The enterprise content management market includes revenues earned by entities by providing document and records management services, web content management, transactional records management, digital asset management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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