The enterprise content management market has been divided into two segments: software and services. The service segment is growing at a very fast rate. The market share of services is expected to be higher than software in 2020. Cloud-based services and the increasing trend towards data management consulting and risk management are helping the services segment to gain a greater market share. The services are mainly segmented into consulting services, training and support services, and maintenance and operations services. Companies such as IBM Corporation, Accenture, Oracle Corporation, Teradata Corporation, Informatica Corporation, and SAP SE are among the major players providing services for the enterprise content management market.
ECM solutions are estimated to dominate the ECM market in 2017, while ECM services are expected to witness the fastest growth during the forecast period. ECM solutions are gaining popularity as an enormous amount of data being generated by organizations and the need to safeguard a large amount of enterprise data from a centralized place. However, ECM are vital to ensure proper implementation, maintenance, and support of ECM solutions. Leading ECM solutions enable line of business departments to manage user access independently, which means sensitive HR information stays within the HR department, while private financial information stays within the finance department, even if the information is stored in the same repository.
Consumer goods and retail, transportation and logistics, and healthcare and life sciences industry verticals are expected to drive the growth of ECM market
Consumer Goods & Retail
The consumer goods and retail sector is quickly adopting ECM technologies, which support business continuity and enhance the level of competitiveness. With the help of content management systems, most of the retail enterprises are planning to merge their legacy product information management systems with their inventory management systems. Content management systems are vital and required to support B2B trading and manage eCommerce data. Content management by eCommerce companies can be really instrumental in enhancing their competitiveness and reducing the total cost of ownership. Retail ECM can help to simplify the different strategic goals of retailers, such as customer retention, product information lifecycle management, and brand management to maximize efficiency.
Transportation & Logistics
Transportation and logistics organizations need ways to collect, manage, and analyze tremendous volume, variability, velocity, and precision of data, making data consistency in content important. Consistent content can be useful in enhancing the productivity and efficiency of transportation enterprises. Content management in the transportation sector can be instrumental in introducing a visibility and control mechanism by clubbing the national transport policy, national transport strategy, and transport master plan together for better governance.
Healthcare & Life Sciences
Healthcare facilities are complex organizations, consisting of doctors, patients, staffs, administrators, and public, and the content they generate is usually private and highly confidential. ECM systems help health information management departments to reduce document management load by storing online patient data and documents and ensuring secure transaction and processes from one user to another. Alfresco, Streamline Health, EMC, HP Autonomy, Hyland Software, IBM, and Microsoft are some of the healthcare and life sciences ECM solution providers of today.
Critical questions the study answers:
- Where will all these developments take the industry in the mid to long term?
- What are the upcoming industry applications for ECM?
Difficulties in smooth handling of enterprise data in case of merger and acquisition, the existence of functional content data silos about ECM among enterprises across various industry verticals is restraining the growth of ECM market globally. This is one of the major identified restraints affecting the widespread adoption of ECM in the global market along with the challenge of aligning ECM strategy with the organizational strategic initiatives.
The massive growth in the amount of data with the deployment of Content Maturity Model is expected to provide great opportunities to the ECM solution vendors to grow in the future. The major vendors that offer ECM solutions and services across the globe are Microsoft Corporation (US), IBM Corporation (US), Hyland Software, Inc. (US), OpenText Corporation (US), Oracle Corporation (US), Alfresco Software, Inc. (UK), Everteam (France), Fabasoft (Austria), M-Files Corporation (US), Laserfiche (US), Xerox Corporation (US), Newgen Software Technologies Ltd. (India). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions to expand their offerings in the ECM market.
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