Overview
In enterprise content management market, digitization and mobility is one of significant factor driving the market. Digitization in enterprise content management technology helps organization by providing seamless platform to handle consumers information and increases efficiency and accuracy in business operations. Digital technology supports both upstream and downstream enterprise content management activities. By vertical segment, BFSI and retail sector acquires highest market share owing to better analysis of content behavior offered by content analytics software is benefitting banking and retail business and is further fueling the market growth.

The segmentation on the basis of deployment includes cloud and on-premise. Cloud solution accounts for highest market share as it helps enterprises by minimizing cost associated with the IT infrastructure. Cloud solution enable enterprise to focus on core business competencies. It provides enterprises with data protection and security, efficiently manage storage and privacy issues, offers data integrity and provides information related to governance and make enterprise legally prepared.

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According to Market Research Future Analysis, enterprise content management market has been valued at approximately USD 80 Billion by the end of forecast period with approx. 17% of CAGR during forecast period 2018 to 2023.

Market Market Research Future (MRFR) recognizes the following companies as the key players in the Enterprise Content Management Market are- Dell EMC Corporation (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Opentext Corporation (Canada), Oracle Corporation (U.S.), Alfresco Software (U.K.), Hyland Software Inc. (U.S.), Lexmark International, Inc. (U.S.), Newgen Software Technologies Ltd (India), Xerox Corporation (U.S.), among others.

Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
The component segment is sub-segmented into solution and service. The solution segment consists of includes e-discovery solution. The factors driving e-discovery solution market includes, rapid increase in the age group ratio and growing volume of electronic stored information. E-discovery solution is used in many industries that includes retail, legal, healthcare, manufacturing, government and others. It empower organization by managing the entire process of interviews, notification, reminders and escalations. E-discovery solution leverage HR systems by providing historical protective views. This solution is majorly adopted by enterprises into BFSI and retail sector. E-discovery solution enhance organizational efficiency by reducing cost and time spent on evaluating and managing large set of documents efficiently. Increasing number of criminal investigation and civil litigation is disturbing enterprise operations. The requirement for compliance for regulatory purpose and internal investigation is forcing enterprises to adopt e-discovery services.

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By region, MRFR analysis shows that North America region accounts for largest market share inenterprise content management market owing to growing adoption of enterprise content management software by small and large enterprises in the region. Wide adoption of enterprise content management solution in BFSI and e-commerce enterprises is boosting the market in the region. Asia-Pacific region is expected to be one of the fastest growing market owing to increase adoption of cloud based enterprise content management solutions by enterprises. In Asia-Pacific region countries such as China, India, South Korea and Japan will be generating high revenue in enterprise content management market. Increased adoption of enterprise content management solution by small and large enterprises to enhanced marketing effectiveness by improving business strategies and decision. This would further help organization to reduce the customer attrition rate and help retailers to enhance content experience.

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