According to the research report by the Transparency Market Research, the global enterprise content management market was evaluated at US$ 11,927.9 million at the beginning of the forecast period i.e. 2019. The research authors predict that the global enterprise content management market will expand at a significant growth rate of 8.5 % during the forecast period of 2020 to 2030 and reach the valuation of US$ 29,419.1 million at the end of the forecast period in 2030. Increasing demand to meet the regulatory compliance standards as well as audit management with improved control and visibility are driving the demand in global enterprise content management market.
Solutions in the global enterprise content management market facilitate gathering, storage, as well as utilization of relevant documents, digital assets, and even web contents for an organization. They are comprised of suite of tools that assist managers in managing, preserving, processing, capturing, and storing the information related to various business processes. Solutions provided by the players in global enterprise content management market are services and software. They are used by both small and medium enterprises as well as the large enterprises.
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Types of solutions offered by the leading players in the global enterprise content management market include document management, case management, record management, e-discovery, content management, workflow management, and digital asset management, among others. Key end use industry verticals for the solutions in the global enterprise content management market include BFSI, government and public, manufacturing, retail, education, healthcare, media and entertainment, and telecom and IT, among others.
Europe Holds Second Largest Share in Enterprise Content Management Market
Major regions evaluated in the research report on global enterprise content management market include North America (including the United States, Canada, and rest of the North America), Europe (including the United Kingdom, France, Germany, and rest of the Europe), Asia Pacific (including China, Japan, India, and rest of the Asia Pacific). Furthermore, other regions in the industry include Middle East and Africa (including South Africa, Gulf Cooperation Council countries, and rest of the Middle East and Africa), as well as the South America (including Brazil and rest of the South America).
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The global enterprise content management market in Europe witnessed fast paced adoption and accounts for the second largest industry share. This share can be attributed to shifting government regulations in various countries in European region as well as rising requirement for adopting solutions in global enterprise content management market in order to implement and enforce government policies in fast pace. Moreover, rising usage of connected devices as well as fast paced adoption of SaaS based solutions are expected to drive the growth in Asia pacific region of global enterprise content management market in coming years.
Several players in global enterprise content management market are increasing their investment in Middle East and Africa region in order to enhance and expand their geographical presence in the region. This trend can be attributed to rise in the digital content across various enterprises in the region.
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Players in Enterprise Content Management Market Focusing on Offering Cloud Based Technologies
Some of the leading and incumbent players operating within the global enterprise content management market are Alfresco Software, Inc., Datamatics Global Services Ltd., Hyland Software, Inc., Laserfiche, M Files Inc., Open Text Corp., SAP SE, Tata Consultancy Services, Capgemini S.A., Systemware, Inc., EMC Corporation, IBM Corporation, Newgen Software, Inc., and Pennywise Solutions Private Limited, among others. Several players in the global enterprise content management market are introducing new and technologically advanced solutions in order to capture a larger industry share. Several leading vendors in the global enterprise content management market are focusing on providing cloud based solutions that can provide numerous benefits to consumers such as real time and remote access as well as larger storage availability.
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