Rise in need for digital content due to the proliferation of online marketing & online customer and content development of the e-commerce industry have boosted the growth of the global enterprise content management system market.
PORTLAND, Ore., May 23, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, “Enterprise Content Management System Market by Solution (Records Management, Case Management, Document Management, Mobile Content Management, Imaging and Capturing, Web Content Management, Digital Asset Management, Others), by Deployment Mode (On-Premise, Cloud), by Enterprise Size (Large Enterprises, Small & Medium Sized Enterprises), by Industry Vertical (BFSI, IT and Telecommunication, Energy and Utilities, Government and Public Sector, Healthcare and Life Sciences, Retail and Consumer Goods, Manufacturing, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030″. As per the report, the global enterprise content management system industry was pegged at $21.5 billion in 2020, and is expected to reach $53.2 billion by 2030, growing at a CAGR of 9.8% from 2021 to 2030.
Major determinants of the market growth
Rise in need for digital content due to the proliferation of online marketing & online customer and content development of the e-commerce industry have boosted the growth of the global enterprise content management system market. However, high initial costs of implementation and dearth of awareness to implement the right solution for the specific needs among SMEs hinder the market growth. On the contrary, surge in adoption of cloud-based enterprise content management systems would open new opportunities in the future.
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- The Covid-19 pandemic had a positive impact on the market due to rise in need for content management as companies shifted their business online.
- Companies become more inclined toward attracting consumers through social media sites, which increased the demand for content management systems.
Get detailed COVID-19 impact analysis on the enterprise content management system market:
The mobile content management segment to manifest the highest CAGR through 2030
By solution, the mobile content management segment is estimated to portray the highest CAGR of 14.9% during the forecast period, as it lets user to access information anytime, anywhere through mobile handsets to facilitate the uninterrupted business workflow. However, the web content management segment held the largest share in 2020, accounting for nearly one-fourth of the global enterprise content management system industry, owing to high growth rate associated with industries among developing nations to incorporate high security to understand threats and mitigate vulnerabilities.
The on-premise segment dominated the market
By deployment mode, the on-premise segment held the largest share in 2020, contributing to more than half of the global enterprise content management system market, owing to rise in need to secure critical data from unauthorized access and monitor the influx of data within the organization. However, the cloud segment is projected to manifest the highest CAGR of 12.5% during the forecast period, owing to the transfer of increase in amount of confidential data.
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North America held the lion’s share
By region, the market across North America held the largest share in 2020, accounting for more than one-third of the global enterprise content management system market. This is due to focus on availing advanced industry-specific content management solution and services to sustain the competitive environment. However, the market across Asia-Pacific is expected to register the highest CAGR of 12.9% during the forecast period, owing to increase in expansion of business across the region.
Major market players
- Lexmark International, Inc.
- Hyland Software, Inc.
- M-Files, Inc.
- Microsoft Corporation
- Open Text Corporation
- XEROX Corporation
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