At 28+% CAGR, Cloud Enterprise Content Management Market Potentially Worth $34.42 Billion by 2022 Led by North America

The cloud enterprise content management (ECM) market size is forecast to reach $34.42 billion by 2022 from $9.77 billion in 2017 at a CAGR of 28.6% during (2017-2022) driven by exponential growth in digital content across enterprises, easier access from remote end-points, and protection of enterprise data against disaster.

“Factors such as awareness about cloud-based ECM benefits among the enterprises and reduced operational and capital expenditure are some of the factors driving the cloud ECM market”

The cloud Enterprise Content Management (ECM) market size is estimated to grow from $9.77 billion in 2017 to $34.42 billion by 2022, at a CAGR of 28.6%. The market is driven by the need for business agility, faster deployment and scalability, increasing awareness about cloud ECM among enterprises globally, and reduced costs of ownership. However, enterprises face some obstacles while adopting cloud ECM, such as security concerns, data protection, and complexities involved in application portability.

Browse 63 market data tables and 60 figures spread through 139 pages and in-depth TOC on "Cloud Enterprise Content Management Market by Solution (Document Management, Case Management, Workflow Management, Record Management and E-Discovery), Service, Deployment Model, Organization Size, Vertical, and Region - Global Forecast to 2022" .

“Workflow management solution is expected to have the fastest growth rate during the forecast period”

There has been increasing demand for tools which support content workflow management, specifically for website data management. Additionally, with the growing usage of Internet, mobile devices, and social media among customers, the demand for enterprise content workflow management has grown exponentially. This solution allows people to control and extend business processes, eliminating the security risks and logistical costs associated with paperbound, manual processes.

“Managed services segment is expected to have the largest market share during the forecast”

Managed services can be defined to be any service managed and delivered by the provider under a contracted Service Level Agreement (SLA) and these providers take complete responsibility of the customers need and deliver service. These services can be considered important as they are directly related to the customer experience and no company can afford to compromise with it in order to remain at the forefront in the competitive arena.

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“Asia Pacific (APAC) is projected to grow at the highest CAGR”

North America is expected to hold the largest market share in 2017, while APAC is the fastest growing region, in terms of CAGR. The increased need to manage consistent data and prompt control and visibility mechanisms have led to a wider demand among enterprises for ECM solutions in the APAC region. The adoption of ECM solutions has increased due to the rising need for implementing security and accessibility controls; enhanced decision-making has led APAC to become a highly potential market.

The major vendors providing cloud ECM are Alfresco Software, Inc. (California, US), ASG Technologies (Florida, US), Box, Inc. (California, US), Docuware (Germering, Germany), Epicor Software Corporation (Texas, US), Everteam ((Paris, France), Fabsoft Software, Inc. (New Jersey, US), Hewlett Packard Enterprise (California, US), Hyland Software, Inc. (Ohio, US), IBM Corporation (New York, US), Laserfiche (California, US), Lexmark International, Inc. (Kentucky, US), MaxxVault LLC (New York, US), M-Files Corporation (Texas, US), Microsoft Corporation (Washington, US), Micro Strategies Inc. (New Jersey, US), Newgen Software Inc. (New Delhi, India), Nuxeo (New York, US), Objective Corporation (New South Wales, Australia), OpenText orporation (Ontario, Canada), Oracle Corporation (California, US), SER Group (Bonn, Germany), and Xerox Corporation (Connecticut, US).

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The break-up profiles of primary participants are given below as:
• By company: Tier 1 – 18%, Tier 2 – 31%, and Tier 3 – 51%
• By designation: C level – 42%, Director level – 33%, and Others – 25%
• By region: North America – 47%, Europe – 31%, APAC – 14%, and RoW- 8%

Research Coverage:
The cloud ECM market has been segmented based on services, deployment models, organization sizes, verticals, and regions. A detailed analysis of the key industry players has been done to provide key insights into their business overviews, products and services, key strategies, new product launches, partnerships, agreements, and collaborations, business expansions, and competitive landscape associated with the cloud ECM market.

The report will help the market leaders/new entrants in this market in the following ways:
• This report segments the cloud ECM market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
• This report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
• This report will help stakeholders to better understand the competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.

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Release ID: 200191