Enterprise Content Management Market Analysis Report By Component, By Deployment (On-Premise, Cloud), By Organization Type, By Vertical (Communication, Retail, Transportation), And Segment Forecasts, 2018 - 2025

Report Overview

The global enterprise content management market size to be valued at USD 93.76 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 15.6% during the forecast period. Soaring need to secure confidential data and achieve operational efficiency is one of the key trends contributing to market growth. Additionally, increasing government regulations for data security are further elevating the demand for enterprise content management (ECM) software. Burgeoning volumes are boosting the use of ECM software as it enables organizations to store, manage, and share data in the form of videos and audio clips, among others, through a central repository. Increasing adoption of cloud is also working in favor of the market.

Various software providers offer automated data security feature, which enables the management to set passwords for accessing crucial documents such as financial reports. For instance, M-Files Corporation offers automated data security feature under its M-Files Enterprise Information Management offering. However, vendor dependence and concerns regarding high costs involved in the maintenance may hamper the growth of the market. Moreover, internet connectivity can be a challenge, especially in developing countries.

Enterprise Content Management Market Trends

Growing online marketing and online relationships with clients, digital content expansion is gaining the market's attention. Furthermore, the e-commerce industry's continuous development supports the demand for enterprise content management systems to store, manage, produce, and distribute digital material via online channels. These factors are driving the global market.

The Web of Things and cloud computing produce massive amounts of data. Enterprise Content Management (ECM) solutions provide security services in addition to data management. ECM systems are helpful for data storage, system crash protection, and detecting critical data leaks. It has a series of inspections, and only authorized users can access it. As a result, demand for ECM solutions is expected to drive the market over the forecast period.

Companies require technical experts to develop system templates based on the network file type. The high cost of such technical experts, as well as the inability to find skilled technical experts, may have an impact on the adoption of these solutions across enterprises. As a result, small businesses' inability to hire technical expertise hampers their capacity to implement ECM systems.

The ECM market's engaging functionalities are a major driving force in its development. Efficiency, enhanced production value, and improved data governance are enticing corporate firms to use a viable ECM solution. Furthermore, introducing AI-based solutions enhances image resolution and automatically extracts text from photos. The voice recognition features also enable the recovery of essential data from speech files. These factors are expected to create opportunities for the global ECM market.

Component Insights

Based on components, the market has been segmented into solutions and services. Solutions such as document management, web content management, records management, document collaboration, digital rights management, and content analytics offer operational efficiency to organizations. These solutions enable organizations to manage digital content efficiently and offer enhanced customer services.

Post-purchase services such as training of employees and support & maintenance of the software enable organizations to enhance their IT performance and focus on core business practices. This reliability offered by service providers is encouraging businesses to adopt enterprise content management software. The services segment is anticipated to expand at a remarkable CAGR during the forecast period.

Deployment Insights

Cloud-based enterprise content management offers benefits such as disaster recovery and flexibility. It also offers features such as reduced network traffic, which enables organizations to experience enhanced user experience and efficiency in operations. Therefore, the cloud-based segment is poised to exhibit the highest CAGR over the forecast period.

On-premise enterprise content management also offers features such as data security, data ownership, and customization in terms of storage capacity. Thus, the segment will also exhibit a noteworthy CAGR over the forecast period.

Organization Type Insights

Enterprise content management (ECM) enables small- and medium-sized organizations to reduce their data storage costs by allowing them to store data from data verticals in a central repository. It also enables them to comply with government mandates such as Sarbanes Oxley and HIPAA that require organizations to store and retain specific documents. The software assists them to reduce their regulatory compliance costs by offering features such as automated retention and audit tracking.

Additionally, service providers such as Tech Mahindra and Tata Consultancy Services (TCS) offer implementation, training, and support & maintenance services to organizations. Advantages such as improved operational efficiency and enhanced reliability & support provided by these services have boosted the adoption of enterprise content management among small- and medium-sized enterprises.

Vertical Insights

The transportation & logistics segment is estimated to register the highest CAGR over the forecast period. ECM enables fleet operators to receive real-time supply chain visibility. It allows them to store and manage large volumes of transportation and logistics data in a central repository. By offering real-time freight data and analysis, it supports them to reduce their freight cost and experience enhanced order processing capabilities.

Increased adoption of enterprise content management by several governments has also bolstered market growth. For instance, the National Bank for Agriculture and Rural Development (NABARD), India, implemented enterprise content management to reduce the generation of physical documents and improve collaboration with employees.

Regional Insights

The North America ECM market held the largest share in 2016, owing to the presence of prominent IT giants such as IBM and Microsoft Corporation. However, Latin America has high growth opportunities due to surging adoption of ECM by small- and medium-sized businesses. Furthermore, growing demand for IT services by the government sector is projected to supplement the growth of the regional market.

Asia Pacific also offers tremendous growth opportunities due to increasing government initiatives for data protection. Since the ECM software stores data on cloud, no data is lost during downtime, thereby ensuring business continuity.

Key Companies & Market Share Insights

Prominent industry participants operating in the market include IBM, Hewlett Packard Enterprise (HPE) Company, M-Files Corporation, Microsoft Corporation, Newgen Software, OpenText Corporation, Oracle Corporation, and Xerox Corporation. In an attempt to gain a competitive edge in the market, the key players are focusing on collaborating with other players and investing large amounts in R&D to develop innovative solutions.

They have adopted mergers and acquisitions as the key strategy to stay ahead in the market. For instance, in 2017, OpenText acquired Documentum, Dell EMC’s Enterprise Content Division, for USD 1.62 billion. This acquisition is expected to strengthen OpenText’s ECM solutions portfolio.

Recent Developments

• In February 2022, OpenText announced a partnership with Google Cloud by offering its OpenText Core Content service on Google Cloud. The partnership will introduce new capabilities to users by effectively utilizing Google Cloud functionality in secure software supply chains.

• In April 2021, Hyland, a prominent provider of content services, completed its acquisition of Nuxeo, a provider of content services platforms and digital asset management. This acquisition is aimed at extending its global reach.

Enterprise Content Management Market Report Scope

Global Enterprise Content Management Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2025. For this study, Grand View Research has segmented the global enterprise content management market report based on component, deployment, organization type, vertical, and region:

• Component Outlook (Revenue, USD Million, 2014 - 2025)

  • Solutions

  • Services

• Deployment Outlook (Revenue, USD Million, 2014 - 2025)

  • On-Premise

  • Cloud

• Organization Type Outlook (Revenue, USD Million, 2014 - 2025)

  • SMEs

  • Large Enterprises   

• Vertical Outlook (Revenue, USD Million, 2014 - 2025)

  • BFSI

  • Communication Media & Services

  • Retail

  • Manufacturing & Natural Resources

  • Transportation & Logistics

  • Government & Utilities

  • Others (Food & Beverages, Oil & Gas, Real Estate)       

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

  • Asia Pacific

    • China

    • Japan

  • Latin America

  • Middle East & Africa (MEA)