Enterprise Content Management market will grow USD 20.61 billion from 2022 to 2027|North America is estimated to contribute 41% to the growth of the global market - Technavio
NEW YORK, Nov. 20, 2023 /PRNewswire/ -- The enterprise content management market size is set to grow by USD 20.61 billion between 2022 and 2027 and register a CAGR of 16.21%, according to Technavio's latest market research report estimates. North America is estimated to contribute 41% to the growth of the global market during the forecast period. The region has a strong presence in the market due to the high rate of technology adoption in various companies. Enterprise content management has evolved significantly in North America due to the growth of big data and the need for efficient document management. Additionally, the use of enterprise content management software has also grown significantly in North America, especially in the healthcare sector. Hence, these factors are expected to drive market growth in the region during the forecast period. Technavio offers an up-to-date analysis of the current global market scenario and the overall market environment. View Sample Report
Enterprise Content Management Market 2023-2027: Segmentation
The market share growth by the on-premises segment will be significant during the forecast period. The on-premises segment refers to the delivery of software or applications within an organization's network infrastructure or physical hardware. This approach gives organizations more control and customization, making it the preferred option for many organizations. One of the main benefits of on-premises deployments is improved security.
Enterprise Content Management Market 2023-2027: Vendor Analysis and Scope
Some of the major vendors of the enterprise content management market include Acquia Inc., Adobe Inc., Alfresco Software Ltd., Capgemini Service SAS, Compulink Management Center Inc., Datamatics Global Services Ltd., DNN Corp., Epicor Software Corp., HP Inc., Hyland Software Inc., International Business Machines Corp., M Files, Microsoft Corp., Newgen Software Technologies Ltd., Open Text Corp., Optimizely Inc., Oracle Corp., Ricoh Co. Ltd., Salesforce Inc., and Xerox Holdings Corp. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the enterprise content management market are designed t provide entry support, customer profile & M&As as well as go-to-market strategy support.
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Enterprise Content Management Market 2023-2027: Market Dynamics
The growing need to enhance content security and optimize business processes with automated workflows is a key factor driving market growth. Sensitive information protection is now more challenging than ever due to the increase in online threats. Digital communication and collaboration tools are becoming more and more important to businesses. Many businesses are using enterprise content management solutions with cutting-edge content security capabilities to address these issues. Hence, these factors are expected to drive market growth during the forecast period.
The rise in the adoption of AI-based enterprise content management is a major trend in the market. To improve their operations and gain a competitive edge in the market, businesses from a variety of industries are integrating AI into their content management systems. For instance, a retailer can use machine learning to analyze consumer data, spot buying trends, and then adjust their advertising efforts. Hence, the rising adoption is expected to drive market growth during the forecast period.
Difficulties with integration and implementation of enterprise content management with current applications are a significant challenge restricting market growth. Enterprise content management is an essential tool for businesses to manage, organize, and store their digital content. However, many companies struggle to integrate and implement enterprise content management into their current applications. These challenges range from technical limitations to a lack of infrastructure. Therefore, these factors are expected to restrict market growth during the forecast period.
Enterprise Content Management Market 2023-2027: Key Highlights
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