The Cloud Enterprise Content Management (ECM) Market Size Is Estimated To Grow From USD 9.77 Billion In 2017 To USD 34.42 Billion By 2022, At A Compound Annual Growth Rate (CAGR) Of 28.6%
Dec 01, 2017, 00:38 ET
NEW YORK, Dec. 1, 2017 /PRNewswire/ -- Factors such as awareness about cloud-based ECM benefits among the enterprises and reduced operational and capital expenditure are some of the factors driving the cloud ECM market
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The cloud Enterprise Content Management (ECM) market size is estimated to grow from USD 9.77 billion in 2017 to USD 34.42 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 28.6%. The market is driven by factors such as the need for business agility, faster deployment and scalability, increasing awareness about cloud ECM among enterprises globally, and reduced costs of ownership. However, enterprises face some obstacles while adopting cloud ECM, such as security concerns, data protection, and complexities involved in application portability
Workflow management solution is expected to have the fastest growth rate during the forecast period
There has been increasing demand for tools which support content workflow management, specifically for website data management. Additionally, with the growing usage of Internet, mobile devices, and social media among customers, the demand for enterprise content workflow management has grown exponentially. This solution allows people to control and extend business processes, eliminating the security risks and logistical costs associated with paperbound, manual processes.
Managed services segment is expected to have the largest market share during the forecast
Managed services can be defined to be any service managed and delivered by the provider under a contracted Service Level Agreement (SLA) and these providers take complete responsibility of the customers need and deliver service. These services can be considered important as they are directly related to the customer experience and no company can afford to compromise with it in order to remain at the forefront in the competitive arena.
Asia Pacific (APAC) is projected to grow at the highest CAGR
North America is expected to hold the largest market share in 2017, while APAC is the fastest growing region, in terms of CAGR. The increased need to manage consistent data and prompt control and visibility mechanisms have led to a wider demand among enterprises for ECM solutions in the APAC region. The adoption of ECM solutions has increased due to the rising need for implementing security and accessibility controls; enhanced decision-making has led APAC to become a highly potential market.
The break-up profiles of primary participants are given below as:
• By company: Tier 1 – 18%, Tier 2 – 31%, and Tier 3 – 51%
• By designation: C level – 42%, Director level – 33%, and Others – 25%
• By region: North America – 47%, Europe – 31%, APAC – 14%, and RoW- 8%
Various key cloud ECM providers in the report are:
1. Alfresco Software, Inc. ( California, US)
2. ASG Technologies (Florida, US)
3. Box, Inc. (California, US)
4. Docuware GmbH (Germering, Germany)
5. Epicor Software Corporation (Texas, US)
6. Everteam(Paris, France)
7. Fabsoft Software, Inc. (New Jersey, US)
8. Hewlett Packard Enterprise (California, US)
9. Hyland Software, Inc. (Ohio, US)
10. IBM Corporation (New York, US)
11. Laserfiche (California, US)
12. Lexmark International, Inc. (Kentucky, US)
13. MaxxVault LLC (New York, US)
14. M-Ffiles Corporation (Texas, US)
15. Microsoft Corporation (Washington, US)
16. Micro Strategies Inc. ( New Jersey, US)
17. Newgen Software Inc. (New Delhi, India)
18. Nuxeo (New York, US)
19. Objective Corporation (New South Wales, Australia)
20. OpenTtext Corporation (Ontario, Canada)
21. Oracle Corporation (California, US)
22. SER Ggroup Holding International GmbH (Bonn, Germany)
23. Xerox Corporation (Connecticut, US)
Research Coverage
The cloud ECM market has been segmented based on services, deployment models, organization sizes, verticals, and regions. A detailed analysis of the key industry players has been done to provide key insights into their business overviews, products and services, key strategies, new product launches, partnerships, agreements, and collaborations, business expansions, and competitive landscape associated with the cloud ECM market.
The report will help the market leaders/new entrants in this market in the following ways:
• This report segments the cloud ECM market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
• This report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
• This report will help stakeholders to better understand the competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.
Read the full report: https://www.reportlinker.com/p05226965
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