Enterprise Content Management (ECM) Market Size & Share, by Type (Content Management, Document Management, Case Management, Workflow Management, Record Management, Digital Asset Management); Deployment Mode (On-premises, Cloud); Organization (SMEs, Large Enterprise); End-user (Telecom ,BFSI, Retail, Education, Manufacturing, Media, Entertainment) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4820
  • Published Date: Apr 14, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Enterprise Content Management Market size is anticipated to surpass USD 114 Billion by the end of 2035, growing at a CAGR of 12.80% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of enterprise content management was over USD 27 Billion.The rise in demand for digital transformation and increased internet penetration are two major factors driving the growth of the global market. An average growth rate of 8.4% is observed in the number of internet users each year. Globally, 6.44 percent of the population uses the internet as of January 2023. The increased internet penetration provides businesses with access to a wide range of cloud-based content management solutions, which can help them store and manage their data more efficiently. This, in turn, is driving the demand for enterprise content management solutions.

In addition to these, factors that are believed to fuel the enterprise content management market growth of enterprise content management include the need for better data governance, increased adoption of cloud-based solutions, and the increasing demand for structured content management. In addition, the growing number of websites using CMS has made it easier for businesses and individuals to create and manage their own websites. It has also allowed for more customized websites and has opened up opportunities for website owners to easily update and maintain their sites. For instance, a 77% increase in the number of websites using CMS has been reported between 2015 and 2022. Additionally, the growing need for improved document collaboration and workflow automation are also expected to drive market growth.


Enterprise Content Management Market
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Enterprise Content Management Sector: Growth Drivers and Challenges

Growth Drivers

  • Vast Volumes of Data Produced by the Internet of Things (IoT) - As more devices are connected to the internet and share data, content management systems will be needed to handle, store, and organize the data. Statistical data shows that IoT devices will generate exponentially more data with increased adoption. The number will reach 74 ZB by 2025, which is 420% more than the output of 17 ZB in 2019. Additionally, these systems will need to be able to identify and classify different types of data, to ensure that only authorized users can access and use it.
  • Increasing Use of Cloud Computing Services in Businesses - As many as 55% of the organizations surveyed in 2022 indicated that they were planning on moving their workload to the cloud. Approximately 16% of global IT revenues will come from enterprise cloud spending by 2024. Cloud computing services provide businesses with an easy way to manage and store their data. Additionally, cloud computing services provide businesses with scalability, cost savings, and flexibility, making them an attractive solution for content management.
  • Rise in Telecom Services and Usage - In India, according to the report, the number of telephone connections per 100 inhabitants increased from 78 in 2015 to 92 in 2018. With increasing demand for telecom services and usage, the need for an efficient enterprise CMS to handle the data is increasing. As telecommunication companies generate large amounts of data, CMS is increasingly used to manage, store, and access it.
  • Rapid Growth in The Media and Entertainment Industry - According to industry studies, India's Media and Entertainment Industry is expected to reach USD 54 billion by the year 2026. The media and entertainment industry is experiencing a rapid growth, driven by increasing demand for content and as a result, the need for efficient content management solutions is also growing. Enterprises are investing heavily in content management solutions to ensure efficient content storage, retrieval and collaboration among teams.
  • An Ever-Growing Banking Services - The public sector banks in India accounted for 55% of loans and 60% of deposits as of September 2022. Private banks have increased their lending share from 17% to 36%. The proportion of deposits they hold has increased from 18% in March 2010 to 32% in September 2022. The banking sector is continuously innovating, adapting to changing customer preferences, evolving regulations, and technological advancements. As a result, banks are increasingly turning to enterprise content management solutions to help them manage and securely store the ever-growing amount of data they need to process.

Challenges

  • High cost of implementation and maintenance - The cost of implementing and maintaining an Enterprise Content Management system can be prohibitively expensive for small businesses, which limits the potential customer base for the enterprise content management market. Additionally, the cost of ongoing maintenance, such as data storage and personnel costs, can add up quickly and become a major expense.
  • Lack of awareness, and the lack of technical expertise
  • Inadequate understanding of the benefits offered by enterprise content management solutions

Enterprise Content Management (ECM) Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~12.80%

Base Year Market Size (2022)

~USD 27 Billion

Forecast Year Market Size (2035)

~USD 114 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Enterprise Content Management Segmentation

Deployment Mode (On-premises, Cloud)

The global enterprise content management market is segmented and analyzed for demand and supply by deployment mode into on-premises cloud. Out of these, the cloud segment is estimated to gain the largest market share of about 58% in the year 2035. The growth of the segment can be attributed to the growing adoption of cloud-based technology, cost-effectiveness, scalability, and improved security features associated with cloud-based solutions. It is estimated that 58% of corporate data around the world is stored in the cloud, and that cloud data centers consume 3% of the world's energy. also, the number of large enterprises using multiple clouds has risen to 92%. Additionally, the growing need for automation and analytics capabilities of cloud-based solutions for businesses is expected to further drive the adoption of cloud-based solutions in the enterprise content management market. Cloud-based solutions are also beneficial for businesses as they provide the ability to store data in a secure, centralized location, making it easier for multiple users to access the same information and collaborate on projects.

Organization (SMEs, Large Enterprise)

The global enterprise content management market is segmented and analyzed for demand and supply by enterprise into small, medium enterprise and large enterprise. Out of these, the large enterprise segment is estimated to gain the significant market share of about ~39% in the year 2035. The growth of the segment can be attributed to the increasing demand for enterprise content management systems from large enterprises owing to the need for better data management, improved collaboration, and compliance with data security regulations. Furthermore, the increasing number of large enterprises across the globe is expected to drive the market growth of this segment. As of 2021, it was estimated that there would be more than 350,500 large companies across the globe. Additionally, as the number of large enterprises continues to grow, the demand for enterprise content management systems is expected to increase as well.

Our in-depth analysis of the global market includes the following segments:

         By Type

 

  • Content Management
  • Document Management
  • Case Management
  • Workflow Management
  • Record Management
  • Digital Asset Management
  • Others

        By Deployment Mode

 

  • On-premises
  • Cloud

        By Enterprise

  • Small
  • Medium Enterprise
  • Large Enterprise

         By End User

  • Telecom and IT
  • BFSI
  • Retail
  • Education
  • Manufacturing
  • Media and Entertainment, Government
  • Healthcare

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Enterprise Content Management Industry - Regional Synopsis

APAC Market Statistics

The enterprise content management (ECM) market in Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about ~37% by the end of 2035. The growth of the market can be attributed majorly to the increasing demand from various industries such as healthcare, retail, manufacturing, and financial services. Moreover, with the rise of digital transformation initiatives, the demand for enterprise content management solutions is also increasing, which is expected to further drive the growth of this market in the Asia Pacific region. For instance, a USD 83 billion investment in digital transformation is expected to be made in India by 2026. Organizations are increasingly relying on digital solutions to manage their data and content, as this helps them to be more efficient, reduce costs, and improve customer experience. Digital transformation initiatives are helping organizations to access and use data more effectively and to create better customer experiences.

North American Market Forecast

The North America enterprise content management market is estimated to be the second largest, registering a share of about ~24% by the end of 2035. The growth of the market can be attributed majorly to the increasing adoption of cloud-based services and the introduction of advanced technologies, such as artificial intelligence and analytics, in the market. These technologies allow organizations to maximize efficiency and productivity by automating mundane tasks, reducing the need for physical storage, and improving enterprise data security. Additionally, North America also has a well-established IT infrastructure, a strong IT services industry, and a large pool of skilled professionals. Companies are increasingly relying on IT infrastructure to store and manage their data and content. Moreover, IT infrastructure allows for better scalability and flexibility, enabling companies to quickly and easily adjust their data management and content needs as needed.

Europe Market Forecast

Further, the enterprise content management market in the Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the rising awareness among the European businesses about the benefits of enterprise content management systems, such as improved data security, better collaboration and enhanced efficiency and productivity. Furthermore, the increasing adoption of the cloud platform for the deployment of enterprise content management systems is also expected to bolster regional market growth. Cloud-based enterprise content management systems allow businesses to store and access data from any location, which makes it easier for companies to manage their content.

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Companies Dominating the Enterprise Content Management Landscape

top-features-companies
    • Microsoft Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • OpenText Corporation
    • Hyland Software Inc.
    • IBM Corporation
    • Xerox Corporation
    • SAP
    • Objective Corporation
    • DOMA Technologies
    • SER Group
    • Oracle

In the News

  • With the launch of OpenText Core Content and OpenText Core Case Management, OpenText Corporation has launched new content services platforms. These platforms provide organizations with a comprehensive solution for managing unstructured content, automating processes, and providing secure access to content from anywhere.
  • A content platform and digital asset management company, Nuxeo, has been acquired by Hyland Software, Inc. The acquisition is aimed at providing Hyland with access to Nuxeo's content platform, which is a powerful tool for managing digital content for organizations.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 4820
  • Published Date: Apr 14, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing need for data security, rising demand for automation and digital transformation, and the growing need for cost-effectiveness and streamlined processes are the major factors driving the market growth.

The market size of enterprise content management is anticipated to attain a CAGR of 12.80% over the forecast period, i.e., 2023-2035.

The high cost of implementation and maintenance, the lack of awareness, and the lack of technical expertise are estimated to be the growth hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Microsoft Corporation, OpenText Corporation, Hyland Software Inc., IBM Corporation, Xerox Corporation, SAP, Objective Corporation, DOMA Technologies, SER Group, Oracle and others

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, deployment mode, enterprise, end user and by region.

The cloud segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Enterprise Content Management Market Report Scope
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