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Document Management Systems Market by Offering, Deployment Mode, Organization, Application And Geography - Global Forecast to 2023

Document Management Systems Market: Global Forecast until 2023

  • December 2017
  • 161 pages
  • ID: 5236670
In this report:
IT IS EXPECTED TO GROW AT A CAGR OF ##.##% DURING THE FORECAST PERIOD TO REACH USD ##.## BILLION BY 2023.
THE GOVERNMENT APPLICATIONS SEGMENT IS EXPECTED TO REACH USD ##.## MILLION BY 2023, AT THE HIGHEST CAGR OF ##.##% DURING THE FORECAST PERIOD.
The document management systems market is expected to reach USD ##.## billion by 2023 from an estimated USD ##.## billion in 2017, at a CAGR of ##.##% during the forecast period.

Summary

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The document management systems market is likely to grow at a CAGR (Compound annual growth rate) of ~11.2 percent between 2017 and 2023.

The document management systems market is forecasted to reach ~$6.8B by 2023 from ~$3.6B in 2017, at a compound annual growth rate (CAGR) of ~11.2 percent. Increase in this industry can largely be attributed to Elements such as the growing need to streamline business operations, benefits of digitalizing content across firms, rising need to adhere to compliance requirements, and growing adoption of cloud-based services and cloud computing. On the other hand, high implementation costs are anticipated to restrict approval, which in turn may limit market increase to a certain extent.

The sector for solution offerings is intended to hold the biggest share during the outlook period.

The document management systems market for solutions is forecasted to hold a better share, primarily due to the rising demand for solutions as they help to streamline business processes and operations. Document management solutions help integrate document management systems with real-time data, which assists in tracking the changes done in a document and storing distinct versions of the same document. Solutions thus help in providing a secure location for storing electronic documents and indexing them for the fast retrieval of a particular version of the document, whenever needed.

The industry for hybrid deployment models is projected to register the more important rise during the estimate period.

The hybrid deployment model is forecasted to be the quickest-increasing segment due to the benefits combined with the use of these models, including better flexibility, technical control, enhanced security, and adherence to compliance requirements. These models allow companies to move their mission-critical data to a private cloud without compromising on security and their non-sensitive data to a public cloud.

North America continent is forecasted to dominate the document management systems market during the outlook period.

North America (NA) is notable for its high adoption of document management solutions. The growing demand for cost-effective and efficient business process solutions acts as a driving force for the increase ot the document management systems market in the territory. The sector in North America continent is also characterized by high infrastructure costs and strict policies and regulatory frameworks. Companies including IBM (NYSE:IBM), Microsoft, EMC, and Hyland Software have a majority of their revenues coming from the North America (NA) sector.

Breakdown of primary participants' profile:

• By Company category: Tier 1-50.0 percent, Tier 2-33.0 percent, and Tier 3-17.0 percent

• By Description: C-Level Executives-50%, Directors-33%, and Others-17%

• By Area: North America-34%, Europe-33%, and Asia Pacific-33%

The top players operating in this sector are OpenText Corporation, Xerox Corporation, Canon Inc., Ricoh Company Ltd., IBM (NYSE:IBM), eFileCabinet Inc., SpringCM, Oracle (NASDAQ:ORCL), Alfresco Software Inc., and Hyland Software Inc..

Segment Research

Different market segments have been covered in this business report. These include segments including deployment mode, organization, application, offering, and territory. It also gives a in-depth view of the market across four main regions: the North America, Europe (EU), Asia-Pac, and RoW.

Why Purchasing This Study Can Help You:

• this business report includes statistics pertaining to the document management systems market in terms of offering, deployment mode, organization, application, and area, together with their respective market sizes.

• Major drivers, market restraints, alternatives, and opportunities for the document management systems market have been provided in detail in this industry report.

• The report includes figures of segmentation, review, and estimate for the document management systems market established on its segments and sub-segments.

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