Valued To Be $97 Billion By 2026, Cloud Enterprise Content Management Slated For Robust Growth Worldwide
SAN FRANCISCO, March 22, 2022/PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Cloud Enterprise Content Management - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 9; Released: February 2022
Executive Pool: 85841
Companies: 418 - Players covered include Alfresco Software, Inc.; ASG Technologies; Box, Inc; Docuware GmbH; Epicor Software Corporation; Everteam Software; Fabsoft Software, Inc; Hyland Software, Inc; IBM Corporation; Laserfiche; Lexmark International, Inc; M-Files Corporation; Micro Strategies Inc; Microsoft Corporation; Newgen Software Technologies Limited; Nuxeo; Objective Corporation; OpenText Corporation; Oracle Corporation; SERgroup Holding International GmbH; Xerox Holdings Corporation and Others.
Coverage: All major geographies and key segments
Segments: Segment (Document Management, Workflow Management, Content Management, Digital Asset Management, Record Management, Case Management, Other Segments); Vertical (BFSI, Retail & Consumer Goods, IT & Telecom, Government & Public Sector, Healthcare & Life Sciences, Media & Entertainment, Other Verticals)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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ABSTRACT-
Global Cloud Enterprise Content Management Market to Reach $97 Billion by 2026
Cloud-based enterprise content management (ECM) is poised to gather considerable momentum over the coming years as a result of the growing need to govern and manage burgeoning content volumes. While content generated globally is doubling every three months, around 80% of the content that needs to be leveraged by knowledge workers for revenue-generation and for meeting business goals remains unstructured. The staggering growth of the unstructured data is providing a major impetus to the cloud-based ECM market. The increasing transition from legacy towards cloud-based ECM is anticipated to be fueled by increasing amount of digital content and easier access to remote end-points coupled with the need for regulatory compliance and safeguard business-critical information. The shift toward cloud-based ECM is slated to help organizations in reaping the advantages of the next-generation platform while exploiting the content in a meaningful way. Amid the COVID-19 crisis, the global market for Cloud Enterprise Content Management estimated atUS$32.6 Billion in the year 2022, is projected to reach a revised size ofUS$97 Billion by 2026, growing at a CAGR of 30.7% over the analysis period. Document Management, one of the segments analyzed in the report, is projected to record a 28.4% CAGR and reachUS$23.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Workflow Management segment is readjusted to a revised 36.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $14.1 Billion in 2022, While China is Forecast to Reach $9.4 Billion by 2026
The Cloud Enterprise Content Management market in the U.S. is estimated atUS$14.1 Billion in the year 2022.China, the world`s second largest economy, is forecast to reach a projected market size ofUS$9.4 Billion by the year 2026 trailing a CAGR of 37.5% over the analysis period. Among the other noteworthy geographic markets areJapan andCanada, each forecast to grow at 27.9% and 28.8% respectively over the analysis period. WithinEurope,Germany is forecast to grow at approximately 28.2% CAGR. Companies in developing and developed markets alike are stepping up adoption of cloud based ECM to reduce the time spent for document management and boost efficiency and productivity. The transition to the cloud enables organizations to leverage an always-accessible platform and sophisticated resources to drive innovation and help employees in processing documents in an efficient manner. As cloud-based ECM allows employees to stay connected and collaborate from anywhere, they can complete workloads quickly for faster time-to-market.
Content Management Segment to Reach $17.1 Billion by the Year 2026
AI is increasingly being utilized in content management systems for processing as well as analysis of content in various forms. AI is employed in enterprise content management systems in several different ways, including content security, enterprise search, robotic process automation, and chatbots. Enriching content management systems with AI helps users in quickly identifying required information using data mining capabilities. AI can also contribute significantly in terms of securing content. In the global Content Management segment, USA, Canada, Japan, China and Europe will drive the 34.2% CAGR estimated for this segment. These regional accounts for a combined market size of US$2.3 Billion. China will remain among the fastest-growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2026.
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