22nd July 2019 – Globally, the enterprise
content management (ECM) market is predicted to grow at a CAGR of 15.6%
in forecast period, providing numerous opportunity for market players to invest
for research and development in the enterprise content management market. The
global enterprise content management (ECM) market size is expected to value USD
93.76 billion by 2025. The ECM market is subject to witness a substantial
growth due to the ever growing demand to safeguard highly confidential
information and allow high-level of operational efficiency. Moreover, numerous
governmental schemes associated data security are further escalating the need
for enterprise content management software, subsequently, driving growth of the
market.
Soaring volumes of data on web server
are heightening the importance of enterprise content management software to
carry out business processes such as storage, management of data sets, and
sharing of information through videos and audio clips, and are responsible for
fueling the market value. Growing preference toward cloud services is
substantially influencing the market size on global-scale.
Multiple software providers are offering
automated data security services that allows easy management to encrypt crucial
data such as financial reports to avoid illegal access. Though, growing
concerns related to the higher initial cost and maintenance cost in vendors is
hampering progress of the enterprise content management industry. Lack of
internet penetration mainly in emerging economies is also major obstacle for
market growth.
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Enterprise content management (ECM) is
responsible for reiterating the phrase of content management by supplementing
specific a timeline at each level of enterprise content process that involves
content creation, authorization and redistribution. Enterprise content
management (ECM) consists of different techniques to import content for
bringing latest set of items under the overall management processes and enable
use of these of these items. The most important property of the enterprise
content management (ECM) is that awareness about the kind of content is created
and distributed along the way by keeping track of enterprises process at each
level of operation. This completely sets it apart from conventional content
management system.
Enterprise content management (ECM)
allows to streamline the complete document lifecycle with the help of advanced
document management and automation of workflows. It is suitable for number of
file systems that includes office suites, image files, e-mail, and CAD i.e.
computer aided designs. It becomes essential for any enterprise that is
utilizing large volumes of content to carry a well-defined enterprise content
management (ECM) system in order to completely eliminate operational
incapacities, minimize operational cost and stick to regulatory terms and
conditions.
Enterprise content management (ECM)
systems are deliberately divided into five key components such as capture,
manage, stock, reserve and distribute, to achieve enhanced performance level.
Each component is responsible for the performing specific tasks as defined. The
capture component is responsible for generating data by transforming simple
on-paper information into a readable electronic format, while arranging
obtained data into structured format. Also, manage component offers safe
connection, modification and employing data set by means similar to data
management, linked software, web-content management and records management.
The ECM industry is divided into
regional market segment such as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the rise in adoption of latest technologies and presence of prominent market
players. Asia-Pacific region is predicted to hold major market share in the
enterprise content management (ECM) industry with massive growth in forecast
period.
Countries such as India, China and Japan
are leading the Asia-Pacific market with number of government initiatives for
data privacy and security. Additionally, Latin America has shown substantial
growth opportunities due to soaring implementation of enterprise content
management by small and medium-sized enterprises (SMEs).
The prominent players in the
enterprise content management (ECM) market are IBM Inc., HP Enterprise, M-Files
Co., Microsoft Co., New gen Software Solutions, Open Text Co., Oracle Co., and
Xerox Co.
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