HOME › Research Insight › There is Increasing Need among Enterprises to Adopt Enterprise Content Management (ECM) Solutions to Streamline Business Processes and Ensure Optimal Resource Usage
There is Increasing Need among Enterprises to Adopt Enterprise Content Management (ECM) Solutions to Streamline Business Processes and Ensure Optimal Resource Usage
Today’s companies are vying to effectively address the data explosion. Huge amount of content is being generated on daily basis in a variety of enterprises globally. Most of the enterprises are facing operational issues with content creation, content management, and content distribution. The result of the content explosion is from growing business complexity, the effort to enhance quality, mass customization and transformation in global markets, and the variety of systems and applications housing enterprise content. Another factor which is increasing the adoption of ECM is compliance and risk management. However, factors such as privacy and security constraints and data migration from legacy system can be seen hindering the growth of the market, but are expected to be impactful for only a short period of time. MarketsandMarkets expects the global ECM market size to grow from USD 28.10 Billion in 2016 to USD 66.27 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 18.7% from 2016 to 2021.
Technological companies such as EMC Corporation, IBM Corporation, Microsoft Corporation, Opentext Corporation, and Oracle Corporation have created leading ECM solutions to cater to the needs and demands of the market. These players adopted various growth strategies, such as acquisitions, agreements, partnerships, and new product launches.
Partnerships, agreements, and collaborations have been a major strategical trend, accounting for almost half of the market share of all the growth strategies adopted by the major market players. IBM Corporation and Microsoft Corporation are the two key players that adopted these strategies to grow in the market. IBM Corporation adopted the strategies of partnerships, collaborations, alliances, and new product launches. IBM partnered with Cisco, a world leading designer and manufacturer of networking devices and related solutions, to exchange business knowledge and work processes. This partnership will help to form a suite of cloud-based workplace applications and tools integrated with IBM Watson. The two companies are jointly trying to develop solutions, taking advantage of all kind of data, with an aim to provide their customer with the best solutions to work on in less time.
Microsoft Corporation is also one of the leading players in the ECM market. Microsoft adopted the strategies of partnerships and collaborations, acquisitions, and new product launches. Microsoft partnered with GE a world’s digital industry company. This partnership integrated GE’s Predix platform on Microsoft Azure cloud for industrial business purpose. This partnership will help these companies to develop a strong strategic collaboration among them and allow their customers to make the most use of their industrial assets and Microsoft enterprise cloud applications.
The key players are engaging in collaborations and partnerships to provide innovative offerings and increase profitability. Some of the companies that have engaged in partnerships and collaborations in the ECM market are IBM Corporation, EMC Corporation, Microsoft Corporation, Alfresco Software, Hyland Software, Newgen Software Technologies Ltd., and OpenText Corporation.
Enterprise Content Management Market by Solution (Enterprise Document Management, Enterprise Web Content Management, Records Management, eDiscovery, and others), Deployment Type, User Type, Vertical and Region - Global Forecasts and Analysis to 2021
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India