Organization is the cornerstone of every business model. A formalized version of this organization is called enterprise content management (ECM), which essentially means organizing and storing documents and other related content that may occur in firm’s lifecycle. ECM encompasses concepts such as methods, strategies, and tools that used in the process of capturing, managing, storing, preserving, and delivering. The global enterprise content management (ECM) market expected to grow over US$12 billion by 2019. A historic look at enterprise content management shows that is version of content management and it includes capturing, searching and networking documents with digital archiving, document management and workflow. This challenging task includes the art of preserving old documentation, sometimes before the digital era, and scores of unstructured information in every form.
Over a period of time enterprise content management has evolved with technologies and time. Today, the enterprise content management market makes use of several important technologies such as intranet services (B2E), enterprise portals for business-to-business (B2B), government-to-business (G2B), and business-to-government (B2G). Enterprise content management market includes aspects such as ECM, web content management (WCM), media access management, and content syndication. ECM is an all-encompassing service that documents with the help of related technologies.
Components of Enterprise Content Management Market
The enterprise content management market is segmented on the basis on many different end users such as retail, banking, finance, automobile, telecommunications, transportation, energy, healthcare, government, research, energy, manufacturing, design, utilities, defense, public and private sector, and travel and tourism among others. Additionally, the global enterprise content management market is also divided on the basis of type such as SaaS (Software as a Service) ECM, on-premise ECM, and Hybrid ECM. Geographically speaking, the global enterprise content management market can further be divided into regions such as North America, Europe, Asia Pacific, and Rest of the World.
Some of the key ECM players making a huge impact of the global economy are ECM Universe, IBM, IMC, RGB Projects., Pyramid Solutions, App Tier, Cabeus, TACG, Bright Star, T- Systems, Image Tech Systems, General Networks, Integro, Atos, and Deloitte. The financial outlooks, growth strategies, and research and development plans for these companies is going to make a huge difference to the global enterprise content management market in years to come.
What Lies Ahead for Enterprise Content Management Market
The global enterprise content management market is expected to grow due to many reasons such as rising demand from companies to manage the exponential growth data, enterprise content management solutions such a cloud-based solutions, and increasing needs of social content ECM and big data ECM. In addition to these the other factors driving the ECM market on a road to success are need for increased efficiency, improving control over vast information, and reducing the cost of information management through ECM solutions. The aim of global enterprise content management market has always been to streamline processes and give a quick access to records via simple keyword searches. This is the unique selling point of the enterprise content management market’s growth, as it allows employees to get required information from a vast directory of data within a few seconds.
The enterprise content management market also enhances control over records, which helps companies to comply with stringent financial regulations, governmental norms, and other industrial regulations. The global enterprise content management market has earned steady revenue for the past few years and is expected to see growth in the coming years. The demand for ECM solutions will be from emerging economies and need for cloud-based solutions. North America is expected to hold the largest market share in the global enterprise content management market. This region will be followed by Asia Pacific. However, Europe will be the fastest growing region due to growing verticals such as government, consumer goods and retail, transportation, life sciences and healthcare, transportation, tourism and hospitality, and telecom and IT.
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