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Increasing Content and Greater Regulations Drive Market Growth
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Enterprise content management (ECM) solutions are large-scale, multi-functional, cross-platform content management systems designed to address the structured and unstructured content management needs of a range of organizational types and sizes. ECM solutions enable enterprises to capture, store, organize, manage, and deliver content in a seamless manner, ultimately equipping end users with pertinent information at all points in time. ECM solutions handle an ever-increasing array of content types including, but not limited to, documents, records, images, and video. Though the value proposition of an ECM is vertical agnostic, these solutions are used across several enterprise functional areas and lines of business. Enterprises commonly deploy ECM as a point solution to fulfill specific organizational needs such as document management, file management, records management, or case management. As the market has evolved, and enterprises have matured in their use of such point solutions, demand has increased for ECM solutions that are unified software platforms rather than a multitude of isolated applications that do not talk to each other. With enterprises viewing content management more strategically, facilitating easy data discovery and enhancing collaborative workflows are growing on the list of enterprise priorities. Frost & Sullivan expects revenues for the global ECM market to increase from $5.35 billion in 2018 to $11.80 billion in 2024, at a compound annual growth rate (CAGR) of 14.1 percent during 2018 – 2024. Though a mature market growth will rise steadily over the forecast as the large number of vendors attempt to meet demand for ever increasing content and greater regulations being put in place for protecting consumer data. Geographical Segmentation: The global market has been segmented into North America, Latin America (NALA), Europe, the Middle East, and Africa (EMEA), and Asia-Pacific (APAC). Research Scope: This market study covers the following: • Global market trend analyses, including market drivers and restraints. • Detailed revenue forecasts for the total media ECM market. • A competitive landscape, in terms of major participants and market share analysis. The base year of this enterprise content management study is 2018, with forecasts running up to 2024. The research highlights key trends impacting the global ECM market and outlines future implications. Key questions this insight will answer: • Will the market continue to increase at its present rate over the forecast period? What are the drivers and restraints for growth in this market? • Where does ECM technology stand today and going forward? What are the primary challenges faced by vendors addressing this market? How can vendors overcome these challenges? How do vendor ecosystems factor into this market? • What does the current competitive landscape look like? Will there be consolidation over the next 4-5 years? Is the market attractive for mergers and acquisitions? • What are the revenue breakdowns by geographical regions - NALA / EMEA / APAC? Which are the fastest growing regions?
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