Enterprise Content Management System Market
Increasing control and visibility over corporate information that integrates and optimizes the business processes are fueling the market demand.
PORTLAND, PORTLAND, OR, UNITED STATE, August 9, 2022 /EINPresswire.com/ — Rise in need for digital content due to the proliferation of online marketing & online customer and content development of the e-commerce industry have boosted the growth of the global enterprise content management system market. However, high initial costs of implementation and dearth of awareness to implement the right solution for the specific needs among SMEs hinder the market growth. On the contrary, surge in adoption of cloud-based enterprise content management systems would open new opportunities in the future.
The global enterprise content management system market was pegged at $21.5 billion in 2020, and is expected to reach $53.2 billion by 2030, growing at a CAGR of 9.8% from 2021 to 2030.
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By deployment mode, the on-premise segment held the largest share in 2020, contributing to more than half of the global enterprise content management system market, owing to rise in need to secure critical data from unauthorized access and monitor the influx of data within the organization. However, the cloud segment is projected to manifest the highest CAGR of 12.5% during the forecast period, owing to the transfer of increase in amount of confidential data.
By solution, the mobile content management segment is estimated to portray the highest CAGR of 14.9% during the forecast period, as it lets user to access information anytime, anywhere through mobile handsets to facilitate the uninterrupted business workflow. However, the web content management segment held the largest share in 2020, accounting for nearly one-fourth of the global enterprise content management system industry, owing to high growth rate associated with industries among developing nations to incorporate high security to understand threats and mitigate vulnerabilities.
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By region, the market across North America held the largest share in 2020, accounting for more than one-third of the global enterprise content management system market. This is due to focus on availing advanced industry-specific content management solution and services to sustain the competitive environment. However, the market across Asia-Pacific is expected to register the highest CAGR of 12.9% during the forecast period, owing to increase in expansion of business across the region.
The key players that operate in the enterprise asset management industry are ABB Ltd., AssetsWorks, LLC, CGI Group Inc., IFS, International Business Machine Corporation, Infor, Oracle Corporation, SAP SE, SSG Insights and UpKeep Technologies, Inc.
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Covid-19 Scenario:
• The Covid-19 pandemic had a positive impact on the market due to rise in need for content management as companies shifted their business online.
• Companies become more inclined toward attracting consumers through social media sites, which increased the demand for content management systems.
Key Findings of the study
• Depending on component, the solution segment accounted for the largest enterprise asset management market share in 2020.
• Region wise, North America generated the highest revenue in 2020.
• According to industry vertical, the energy and utility segment generated the highest revenue in 2020.
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