Enterprise Content Management Market: Global Industry Size, Growth, Outlook and Forecast To 2022 – Brisk Insights
The Global Enterprise Content Management Market is anticipated to grow at a CAGR of 19.6 % for the forecasted period of 2016-2022. This growth is attributed to both emerging as well developed economy. Enterprise content management is a process of accurately integrating, defining, storing, sourcing and effectively reconciling and retrieving massive amounts of organizations’ documents and helping the organization by making the right document available at the right time. It comprises strategies, tolls and methods used throughout the life cycle of the content.
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Substantial growth in digital content due to e-commerce and social media will boost the enterprise content management market.
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Recently, due to rapidly increasing adoption of social media and e-commerce the amount od content generated has increased rapidly. In 2015, e-commerce industry generated a revenue of $1.672 trillion and is expected to grow to $3.5 trillion in next 5 years. Emerging economies such China, Brazil, Japan, South Korea are the major contributors to this growth. In addition, due to increased internet penetration and increased social media user base, companies are investing a major amount in digital content creation and have expanded their marketing services to digital marketing and online CRM. Spending on digital content increased by 28% in the year 2014-2015. IDC has projected 50 times growth in digital content in the recent years. Due to this there has been increased information exchange and growing dearth of information in various organizations. Deployment of enterprise content management enables easy data availability, structures documents leading to increased efficiency and reduced cost of information management. This is the major factor driving the global enterprise content management market
North America has the largest market share in global enterprise content management market.
Globally, in 2014, North America holds the largest market share in global enterprise content management. The region is expected to dominate the market during the forecast period. The major reason for high market share is owing to fast adoption of ECM in the region and increasing organization’s preference to optimize workflow.
The Changing Shape of Content Management
Content management solution changes as per the needs of the organization. There is no specific content management software or solution which is a one-size-fits-all proposition. Hence companies keep on focusing on product development and integrating new technology to help professionals to meet specific objectives. In the future, file sharing and sync apps will get integrated with ECM to manage content more effectively. Also there has been recent trend, of adopting cloud based ECM due to its various advantages such as better information management, cost effectiveness, flexible capacity management and measurability. The cloud based ECM is becoming a popular trend especially in organizations that are distributed across various regions and are highly mobile as it enables information access anytime and anywhere.
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