Research Nester assesses the growth and market size of global enterprise content management market which is anticipated to be on account of the large amount of data is being generated by the Internet of Things (IoT) Devices and cloud computing.
New York – April 10, 2023 – Research Nester’s recent market research analysis on “Enterprise Content Management Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global enterprise content management market in terms of market segmentation by type, deployment mode, enterprise, end user and by region.
Rising Popularity for Structured Content Management to Promote Global Market Share of Enterprise Content Management
The global enterprise content management market is estimated to grow majorly on account of businesses' increased reliance on cloud computing services. It was observed that in 2022, 55% of the organizations surveyed planned on moving their workload to the cloud. Cloud computing is expected to contribute 16% of global IT revenues by 2024.
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Cloud computing services offer businesses more flexibility and scalability than traditional on-premise solutions, which is why more businesses are turning to cloud computing for their content management needs. This increased demand is driving the growth of the global enterprise content management market. Additionally, cloud-based enterprise content management solutions are better suited for a wide variety of tasks, such as data storage, document management, and content collaboration, which further helps to drive the growth of this market.
A content management system will be necessary to manage and organize the data as more devices connect to the internet, sharing information with each other. Statistical data show that with increased uptake of the Internet of Things technology, there will be an exponentially greater amount of information generated. By 2025, the volume will be 74 ZB, which is 420% higher than its output of 17 ZB in 2019. In addition, in order to ensure that only authorized users are able to see and take advantage of this information, these systems will have to be capable of identifying and categorizing various types of data.
Some of the major growth factors and challenges that are associated with the growth of the global enterprise content management market are:
Growth Drivers:
- Increasing use and usage of telecommunications services
- Intensifying growth in the media and entertainment sector
Challenges:
Increasing costs associated with implementation and maintenance and lack of awareness regarding the benefits of enterprise content management are some of the key factors that are expected to restrain the growth of the global enterprise content management market. Additionally, the lack of skilled personnel to manage the system is also expected to hamper the growth of the global enterprise content management market.
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By enterprise, the global enterprise content management market is segmented into small, medium enterprise and large enterprise. The large enterprise segment is to garner a highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period owing to the increasing demand for enterprise content management solutions from large enterprises, as they have the resources and funds to adopt technologies at a faster pace such as such as artificial intelligence, cloud computing, blockchain, and the Internet of Things. Additionally, large enterprises are inclined to invest in these solutions to reduce their operational costs and increase their efficiency.
By region, the Asia Pacific enterprise content management market is to generate the highest revenue by the end of 2035. This growth is anticipated by the rise in the number of businesses adopting content management solutions for efficient data storage, automation of business processes, and accessing content from multiple devices. Additionally, the growing demand for cloud-based solutions, increasing investments in digital transformation, and rising use of AI and ML are expected to drive the market growth in this region. With the use of content management solutions, businesses can store and access large amounts of data quickly and securely, reduce costs associated with manual processes, and ensure data security and compliance.
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This report also provides the existing competitive scenario of some of the key players of the Microsoft Corporation, OpenText Corporation, Hyland Software Inc., IBM Corporation, Xerox Corporation, SAP, Objective Corporation, DOMA Technologies, SER Group, Oracle and others.
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