According to the new research report published by The Insight Partners, titled “Enterprise Content Management Market - Global Analysis and Forecasts to 2027”, the global enterprise content management market is expected to reach US$ 32.30 Bn by 2027, registering a CAGR of 10.8% during the forecast period 2019-2027.

Adoption of enterprise content management solutions by small and medium enterprises and increasing investments in digital transformation by various industry verticals are the major factors that are driving the global enterprise content management market. The small and medium enterprises across the globe offer great growth opportunities for vendors across developing countries. In order to tap this SMEs segment, companies are investing in marketing activities to spread awareness and generate interest in small scale businesses.

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The players operating in the ECM market are now offering various cloud based solutions at affordable prices. Companies such as OpenText, IBM, Hyland, and Microsoft are now focusing on small and medium-sized enterprises in order increase revenue and market share. The huge number of initiatives by enterprises to optimize operations and a significant rise in digital content is anticipated to fuel the future growth of enterprise content management market. Demand for ECM solutions is increasing at an impressive pace due to the advanced features offered by these solutions. In many regions, BFSI and other industries are adopting ECM solutions to automate their business processes. Rising trend of digitization among enterprises to improve operational workflow and reduce costs will offer massive growth opportunity for market players in both developed and developing regions during the forecast period of 2019 to 2027.

Many well-known as well as local companies are present in the market that are offering a diversified portfolio of enterprise content management solutions to their customers. The larger firms are adopting the strategy of acquiring small firms to expand their product portfolio and footprint in different geographies. Few on the recent developments in the enterprise content management market are mentioned below:

Key findings of the study:

Presently, the on-premise ECM solutions segment holds the majority share in the global enterprise content management market; however, the increasing adoption of cloud-based ECM solutions is expected to be the future trend for this market worldwide. Some of the major reasons for the rising adoption of cloud-based ECM solutions are a low initial investment, sophisticated cloud & hosting models, and advanced features. With investment in cloud-based solutions, enterprises are anticipated to reduce their operational costs, decrease human errors, and thus increasing productivity. The deployment of on-premise ECM solutions is sometimes complex and expensive to build in-house. Not every small and medium-sized enterprise finds it feasible to invest in on-premise ECM solutions, and hence the demand for cloud-based ECM solutions is expected to grow at a fast pace in the coming few years, especially among SMEs in developing regions.

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