Enterprise content management or ECM relates to the processes of an organization through organizing and storing all its documents. This documentation includes methods, strategies, tools and all the other things used throughout the lifecycle of the content. Amplified complications of the organizations and large enterprises have created influx of huge data and the subsequent demand for its management. Companies are ready to resource operations to contribute to their aims of cost-cutting and documenting the entire data. This is the significant factor driving the enterprise content management market. Growth in the deployment of these services, booming investments and advancements in the existing technology are some of the major drivers for the global industry.
Scope of Research in ECM Market
The global enterprise content management market is segmented on the basis of the types of the traditional and emerging solutions, deployment modes, industry verticals and geographic regions. The traditional solutions in the industry include enterprise document management, document imaging and capture, management of records, web content, document output, rich media, advanced case, digital rights, etc., content analytics, document collaborating, and so on. Apart from the traditional solutions, the industry is also rooting for the emerging solutions, which are the reflection of the broadening horizons of the enterprise and their global reach.
The emerging solutions include management of mobile content, social content, big data and cloud content. Deployment models include hosted and on-premises services. The industrial verticals with maximum adoption of these services include academia and education, BFSI, government, manufacturing, defense, consumer goods, retails, telecom and IT, media, entertainment, life sciences, transportation, hospitality, energy, power, and other. Geographically, the global enterprise content management market is categorized into Latin America, North America, Middle East and Africa, Europe and Asia Pacific (including Japan).
According to the latest industry research, the global enterprise content management market is set to grow at a healthy CAGR of over 12.7%, which will take the industry to reach $12.32 billion in 2019. As of the year 2014, the industry is poised at $6.78 billion. Growth in the enterprise data, rising demand and availability of the ECM solutions, industrial development across emerging markets and technological advancements in the market are some of the strongest driving factors for the ECM market. The global market is dominated by North America, which is expected to continue its stronghold over the global marketplace. Europe, however, is expected to witness healthy growth during the forecasting period.