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Document Management Market By Component, By Deployment Mode, By Enterprise Size, By End-User: Global Opportunity Analysis and Industry Forecast, 2023-2032

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    Report

  • 245 Pages
  • October 2023
  • Region: Global
  • Allied Market Research
  • ID: 5916131
Description Jump to:
Document management is a system or process used to record, locate, and store electronic documents such as PDFs, word processing files, and digital pictures of paper-based material. In addition, document management can save the time and money needed to manage data for several businesses. It offers document security, access control, centralized storage, audit trails, and streamlined search and retrieval. It also reduces expenses and improves the customer relationship and satisfaction.

Moreover, advanced document management solutions help organizations rapidly make, operate, and innovate with data to solve business issues. DMS may assist enterprises in increasing productivity and efficiency while lowering expenses. Additionally, it can provide customers with greater ease and superior user experience. In addition, the increasing demand for seamless data accessibility in several businesses for handling vast amounts of data is another driver boosts the global market growth.

In addition, the growing trend of advanced technologies in organizations is one of the major factors driving the global market growth. A document management platform may combine various documents for improved control, access, and workflow. By combining this capability with AI and cloud computing, organizations may advance their operations. Moreover, it has benefits for information retrieval, security, governance, and decreased operational costs. In addition, the increase in need of organizations to solve common document management challenges is one of the major factors driving the global market growth. Additionally, the growing trend of digitally enabled solutions is the major factor driving the market growth.

Furthermore, rising adoption of cloud-based solutions in businesses and implementation of advanced DMS solutions in organizations are the factors driving the growth of global document management system market. In addition, there is an increase in demand for remote and distributed workforces, which in turn is expected to create numerous opportunities for the growth of the market. However, employee training and adoption and data privacy concerns and regulatory compliance hamper the growth of the market. Furthermore, surge in adoption of big data management and data analyzing tools by enterprises and Integration of robotic process automation (RPA), which creates opportunities for document management solutions to optimize business operations.

The document management market is segmented into component, deployment mode, enterprise size, end-user, and region. The report provides information on various components including solutions and service. In addition, it is categorized by deployment mode including on-premise and cloud. Based on enterprise size, the market is classified into large enterprises and small & medium-sized enterprises. The details of the end-user namely BFSI, healthcare, government, retail and e-commerce, education, industrial manufacturing and others are also provided in the report. In addition, it analyzes the current market trends across different regions such as North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the market include OpenText Corporation, IBM Corporation, Oracle Corporation, Canon Inc., Ricoh Company, Ltd., SpringCM, Hyland Software Inc., Revver, Inc, Xerox Corporation and Zoho Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the document management system market globally.

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the document management market forecast along with the current and future trends to explain the imminent investment pockets.
  • Information about key drivers, restraints, and opportunities and their impact analysis on document management market trends is provided in the report.
  • The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
  • The quantitative analysis of the document management market from 2022 to 2032 is provided to determine the market potential.

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  • Investment Opportunities
  • Technology Trend Analysis
  • Regulatory Guidelines
  • Strategic Recommedations
  • SWOT Analysis

Key Market Segments

By End-User

  • BFSI
  • Healthcare
  • Government
  • Retail and E-commerce
  • Education
  • Industrial Manufacturing
  • Others

By Component

  • Solution
  • Service

By Deployment Mode

  • On-premise
  • Cloud

By Enterprise Size

  • Large Enterprises
  • Small and Medium-sized Enterprises

By Region

  • North America
  • U.S.
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa
  • Key Market Players
  • Hyland Software Inc.
  • OpenText Corporation
  • Oracle Corporation
  • IBM Corporation
  • Xerox Corporation
  • SpringCM A DocuSign Company
  • Revver, Inc
  • Ricoh Company, Ltd.
  • Zoho Corporation
  • Canon Inc.

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.3. Porter’s five forces analysis
3.4. Market dynamics
3.5. Regulatory Guidelines
CHAPTER 4: DOCUMENT MANAGEMENT MARKET, BY COMPONENT
4.1. Overview
4.2. Solution
4.3. Service
CHAPTER 5: DOCUMENT MANAGEMENT MARKET, BY DEPLOYMENT MODE
5.1. Overview
5.2. On-premise
5.3. Cloud
CHAPTER 6: DOCUMENT MANAGEMENT MARKET, BY ENTERPRISE SIZE
6.1. Overview
6.2. Large Enterprises
6.3. Small and Medium-sized Enterprises
CHAPTER 7: DOCUMENT MANAGEMENT MARKET, BY END-USER
7.1. Overview
7.2. BFSI
7.3. Healthcare
7.4. Government
7.5. Retail and E-commerce
7.6. Education
7.7. Industrial Manufacturing
7.8. Others
CHAPTER 8: DOCUMENT MANAGEMENT MARKET, BY REGION
8.1. Overview
8.2. North America
8.3. Europe
8.4. Asia-Pacific
8.5. LAMEA
CHAPTER 9: COMPETITIVE LANDSCAPE
9.1. Introduction
9.2. Top winning strategies
9.3. Product mapping of top 10 player
9.4. Competitive dashboard
9.5. Competitive heatmap
9.6. Top player positioning, 2022
CHAPTER 10: COMPANY PROFILES
10.1. OpenText Corporation
10.2. Xerox Corporation
10.3. IBM Corporation
10.4. Canon Inc.
10.5. Ricoh Company, Ltd.
10.6. Revver, Inc
10.7. Oracle Corporation
10.8. SpringCM A DocuSign Company
10.9. Hyland Software Inc.
10.10. Zoho Corporation
List of Tables
Table 01. Global Document Management Market, by Component, 2022-2032 ($ Million)
Table 02. Document Management Market for Solution, by Region, 2022-2032 ($ Million)
Table 03. Document Management Market for Service, by Region, 2022-2032 ($ Million)
Table 04. Global Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 05. Document Management Market for On-Premise, by Region, 2022-2032 ($ Million)
Table 06. Document Management Market for Cloud, by Region, 2022-2032 ($ Million)
Table 07. Global Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 08. Document Management Market for Large Enterprises, by Region, 2022-2032 ($ Million)
Table 09. Document Management Market for Small and Medium-Sized Enterprises, by Region, 2022-2032 ($ Million)
Table 10. Global Document Management Market, by End-User, 2022-2032 ($ Million)
Table 11. Document Management Market for Bfsi, by Region, 2022-2032 ($ Million)
Table 12. Document Management Market for Healthcare, by Region, 2022-2032 ($ Million)
Table 13. Document Management Market for Government, by Region, 2022-2032 ($ Million)
Table 14. Document Management Market for Retail and E-Commerce, by Region, 2022-2032 ($ Million)
Table 15. Document Management Market for Education, by Region, 2022-2032 ($ Million)
Table 16. Document Management Market for Industrial Manufacturing, by Region, 2022-2032 ($ Million)
Table 17. Document Management Market for Others, by Region, 2022-2032 ($ Million)
Table 18. Document Management Market, by Region, 2022-2032 ($ Million)
Table 19. North America Document Management Market, by Component, 2022-2032 ($ Million)
Table 20. North America Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 21. North America Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 22. North America Document Management Market, by End-User, 2022-2032 ($ Million)
Table 23. North America Document Management Market, by Country, 2022-2032 ($ Million)
Table 24. U.S. Document Management Market, by Component, 2022-2032 ($ Million)
Table 25. U.S. Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 26. U.S. Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 27. U.S. Document Management Market, by End-User, 2022-2032 ($ Million)
Table 28. Canada Document Management Market, by Component, 2022-2032 ($ Million)
Table 29. Canada Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 30. Canada Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 31. Canada Document Management Market, by End-User, 2022-2032 ($ Million)
Table 32. Europe Document Management Market, by Component, 2022-2032 ($ Million)
Table 33. Europe Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 34. Europe Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 35. Europe Document Management Market, by End-User, 2022-2032 ($ Million)
Table 36. Europe Document Management Market, by Country, 2022-2032 ($ Million)
Table 37. UK Document Management Market, by Component, 2022-2032 ($ Million)
Table 38. UK Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 39. UK Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 40. UK Document Management Market, by End-User, 2022-2032 ($ Million)
Table 41. Germany Document Management Market, by Component, 2022-2032 ($ Million)
Table 42. Germany Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 43. Germany Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 44. Germany Document Management Market, by End-User, 2022-2032 ($ Million)
Table 45. France Document Management Market, by Component, 2022-2032 ($ Million)
Table 46. France Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 47. France Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 48. France Document Management Market, by End-User, 2022-2032 ($ Million)
Table 49. Italy Document Management Market, by Component, 2022-2032 ($ Million)
Table 50. Italy Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 51. Italy Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 52. Italy Document Management Market, by End-User, 2022-2032 ($ Million)
Table 53. Spain Document Management Market, by Component, 2022-2032 ($ Million)
Table 54. Spain Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 55. Spain Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 56. Spain Document Management Market, by End-User, 2022-2032 ($ Million)
Table 57. Rest of Europe Document Management Market, by Component, 2022-2032 ($ Million)
Table 58. Rest of Europe Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 59. Rest of Europe Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 60. Rest of Europe Document Management Market, by End-User, 2022-2032 ($ Million)
Table 61. Asia-Pacific Document Management Market, by Component, 2022-2032 ($ Million)
Table 62. Asia-Pacific Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 63. Asia-Pacific Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 64. Asia-Pacific Document Management Market, by End-User, 2022-2032 ($ Million)
Table 65. Asia-Pacific Document Management Market, by Country, 2022-2032 ($ Million)
Table 66. China Document Management Market, by Component, 2022-2032 ($ Million)
Table 67. China Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 68. China Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 69. China Document Management Market, by End-User, 2022-2032 ($ Million)
Table 70. Japan Document Management Market, by Component, 2022-2032 ($ Million)
Table 71. Japan Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 72. Japan Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 73. Japan Document Management Market, by End-User, 2022-2032 ($ Million)
Table 74. India Document Management Market, by Component, 2022-2032 ($ Million)
Table 75. India Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 76. India Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 77. India Document Management Market, by End-User, 2022-2032 ($ Million)
Table 78. Australia Document Management Market, by Component, 2022-2032 ($ Million)
Table 79. Australia Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 80. Australia Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 81. Australia Document Management Market, by End-User, 2022-2032 ($ Million)
Table 82. South Korea Document Management Market, by Component, 2022-2032 ($ Million)
Table 83. South Korea Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 84. South Korea Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 85. South Korea Document Management Market, by End-User, 2022-2032 ($ Million)
Table 86. Rest of Asia-Pacific Document Management Market, by Component, 2022-2032 ($ Million)
Table 87. Rest of Asia-Pacific Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 88. Rest of Asia-Pacific Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 89. Rest of Asia-Pacific Document Management Market, by End-User, 2022-2032 ($ Million)
Table 90. LAMEA Document Management Market, by Component, 2022-2032 ($ Million)
Table 91. LAMEA Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 92. LAMEA Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 93. LAMEA Document Management Market, by End-User, 2022-2032 ($ Million)
Table 94. LAMEA Document Management Market, by Country, 2022-2032 ($ Million)
Table 95. Latin America Document Management Market, by Component, 2022-2032 ($ Million)
Table 96. Latin America Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 97. Latin America Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 98. Latin America Document Management Market, by End-User, 2022-2032 ($ Million)
Table 99. Middle East Document Management Market, by Component, 2022-2032 ($ Million)
Table 100. Middle East Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 101. Middle East Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 102. Middle East Document Management Market, by End-User, 2022-2032 ($ Million)
Table 103. Africa Document Management Market, by Component, 2022-2032 ($ Million)
Table 104. Africa Document Management Market, by Deployment Mode, 2022-2032 ($ Million)
Table 105. Africa Document Management Market, by Enterprise Size, 2022-2032 ($ Million)
Table 106. Africa Document Management Market, by End-User, 2022-2032 ($ Million)
Table 107. Opentext Corporation: Key Executives
Table 108. Opentext Corporation: Company Snapshot
Table 109. Opentext Corporation: Service Segments
Table 110. Opentext Corporation: Product Portfolio
Table 111. Opentext Corporation: Key Stratergies
Table 112. Xerox Corporation: Key Executives
Table 113. Xerox Corporation: Company Snapshot
Table 114. Xerox Corporation: Product Portfolio
Table 115. Xerox Corporation: Key Stratergies
Table 116. IBM Corporation: Key Executives
Table 117. IBM Corporation: Company Snapshot
Table 118. IBM Corporation: Service Segments
Table 119. IBM Corporation: Product Portfolio
Table 120. IBM Corporation: Key Stratergies
Table 121. Canon Inc.: Key Executives
Table 122. Canon Inc.: Company Snapshot
Table 123. Canon Inc.: Product Segments
Table 124. Canon Inc.: Product Portfolio
Table 125. Canon Inc.: Key Stratergies
Table 126. Ricoh Company, Ltd.: Key Executives
Table 127. Ricoh Company, Ltd.: Company Snapshot
Table 128. Ricoh Company, Ltd.: Service Segments
Table 129. Ricoh Company, Ltd.: Product Portfolio
Table 130. Ricoh Company, Ltd.: Key Stratergies
Table 131. Revver, Inc: Key Executives
Table 132. Revver, Inc: Company Snapshot
Table 133. Revver, Inc: Product Portfolio
Table 134. Revver, Inc: Key Stratergies
Table 135. Oracle Corporation: Key Executives
Table 136. Oracle Corporation: Company Snapshot
Table 137. Oracle Corporation: Service Segments
Table 138. Oracle Corporation: Product Portfolio
Table 139. Oracle Corporation: Key Stratergies
Table 140. Springcm a Docusign Company: Key Executives
Table 141. Springcm a Docusign Company: Company Snapshot
Table 142. Springcm a Docusign Company: Service Segments
Table 143. Springcm a Docusign Company: Product Portfolio
Table 144. Hyland Software Inc.: Key Executives
Table 145. Hyland Software Inc.: Company Snapshot
Table 146. Hyland Software Inc.: Product Portfolio
Table 147. Hyland Software Inc.: Key Stratergies
Table 148. Zoho Corporation: Key Executives
Table 149. Zoho Corporation: Company Snapshot
Table 150. Zoho Corporation: Product Portfolio
Table 151. Zoho Corporation: Key Stratergies
List of Figures
Figure 01. Document Management Market, 2022-2032
Figure 02. Segmentation of Document Management Market, 2022-2032
Figure 03. Top Impacting Factors in Document Management Market (2022 to 2032)
Figure 04. Top Investment Pockets in Document Management Market (2023-2032)
Figure 05. Moderate-To-High Bargaining Power of Suppliers
Figure 06. Low-To-High Threat of New Entrants
Figure 07. Moderate-To-High Threat of Substitutes
Figure 08. Moderate Intensity of Rivalry
Figure 09. Moderate-To-High Bargaining Power of Buyers
Figure 10. Global Document Management Market: Drivers, Restraints and Opportunities
Figure 11. Regulatory Guidelines: Document Management Market
Figure 12. Document Management Market, by Component, 2022 and 2032 (%)
Figure 13. Comparative Share Analysis of Document Management Market for Solution, by Country 2022 and 2032 (%)
Figure 14. Comparative Share Analysis of Document Management Market for Service, by Country 2022 and 2032 (%)
Figure 15. Document Management Market, by Deployment Mode, 2022 and 2032 (%)
Figure 16. Comparative Share Analysis of Document Management Market for On-Premise, by Country 2022 and 2032 (%)
Figure 17. Comparative Share Analysis of Document Management Market for Cloud, by Country 2022 and 2032 (%)
Figure 18. Document Management Market, by Enterprise Size, 2022 and 2032 (%)
Figure 19. Comparative Share Analysis of Document Management Market for Large Enterprises, by Country 2022 and 2032 (%)
Figure 20. Comparative Share Analysis of Document Management Market for Small and Medium-Sized Enterprises, by Country 2022 and 2032 (%)
Figure 21. Document Management Market, by End-User, 2022 and 2032 (%)
Figure 22. Comparative Share Analysis of Document Management Market for Bfsi, by Country 2022 and 2032 (%)
Figure 23. Comparative Share Analysis of Document Management Market for Healthcare, by Country 2022 and 2032 (%)
Figure 24. Comparative Share Analysis of Document Management Market for Government, by Country 2022 and 2032 (%)
Figure 25. Comparative Share Analysis of Document Management Market for Retail and E-Commerce, by Country 2022 and 2032 (%)
Figure 26. Comparative Share Analysis of Document Management Market for Education, by Country 2022 and 2032 (%)
Figure 27. Comparative Share Analysis of Document Management Market for Industrial Manufacturing, by Country 2022 and 2032 (%)
Figure 28. Comparative Share Analysis of Document Management Market for Others, by Country 2022 and 2032 (%)
Figure 29. Document Management Market by Region, 2022 and 2032 (%)
Figure 30. U.S. Document Management Market, 2022-2032 ($ Million)
Figure 31. Canada Document Management Market, 2022-2032 ($ Million)
Figure 32. UK Document Management Market, 2022-2032 ($ Million)
Figure 33. Germany Document Management Market, 2022-2032 ($ Million)
Figure 34. France Document Management Market, 2022-2032 ($ Million)
Figure 35. Italy Document Management Market, 2022-2032 ($ Million)
Figure 36. Spain Document Management Market, 2022-2032 ($ Million)
Figure 37. Rest of Europe Document Management Market, 2022-2032 ($ Million)
Figure 38. China Document Management Market, 2022-2032 ($ Million)
Figure 39. Japan Document Management Market, 2022-2032 ($ Million)
Figure 40. India Document Management Market, 2022-2032 ($ Million)
Figure 41. Australia Document Management Market, 2022-2032 ($ Million)
Figure 42. South Korea Document Management Market, 2022-2032 ($ Million)
Figure 43. Rest of Asia-Pacific Document Management Market, 2022-2032 ($ Million)
Figure 44. Latin America Document Management Market, 2022-2032 ($ Million)
Figure 45. Middle East Document Management Market, 2022-2032 ($ Million)
Figure 46. Africa Document Management Market, 2022-2032 ($ Million)
Figure 47. Top Winning Strategies, by Year (2020-2022)
Figure 48. Top Winning Strategies, by Development (2020-2022)
Figure 49. Top Winning Strategies, by Company (2020-2022)
Figure 50. Product Mapping of Top 10 Players
Figure 51. Competitive Dashboard
Figure 52. Competitive Heatmap: Document Management Market
Figure 53. Top Player Positioning, 2022
Figure 54. Opentext Corporation: Net Revenue, 2020-2022 ($ Million)
Figure 55. Opentext Corporation: Research & Development Expenditure, 2020-2022 ($ Million)
Figure 56. Opentext Corporation: Revenue Share by Region, 2022 (%)
Figure 57. Opentext Corporation: Revenue Share by Segment, 2022 (%)
Figure 58. Xerox Corporation: Net Revenue, 2020-2022 ($ Million)
Figure 59. Xerox Corporation: Research & Development Expenditure, 2020-2022 ($ Million)
Figure 60. Xerox Corporation: Revenue Share by Segment, 2022 (%)
Figure 61. Xerox Corporation: Revenue Share by Region, 2022 (%)
Figure 62. IBM Corporation: Net Revenue, 2020-2022 ($ Million)
Figure 63. IBM Corporation: Research & Development Expenditure, 2020-2022 ($ Million)
Figure 64. IBM Corporation: Revenue Share by Segment, 2022 (%)
Figure 65. IBM Corporation: Revenue Share by Region, 2022 (%)
Figure 66. Canon Inc.: Net Sales, 2020-2022 ($ Million)
Figure 67. Canon Inc.: Research & Development Expenditure, 2020-2022 ($ Million)
Figure 68. Canon Inc.: Revenue Share by Segment, 2022 (%)
Figure 69. Canon Inc.: Revenue Share by Region, 2022 (%)
Figure 70. Ricoh Company, Ltd.: Net Sales, 2020-2022 ($ Million)
Figure 71. Ricoh Company, Ltd.: Revenue Share by Segment, 2022 (%)
Figure 72. Ricoh Company, Ltd.: Revenue Share by Region, 2022 (%)
Figure 73. Oracle Corporation: Net Revenue, 2020-2022 ($ Million)
Figure 74. Oracle Corporation: Research & Development Expenditure, 2020-2022 ($ Million)
Figure 75. Oracle Corporation: Revenue Share by Segment, 2022 (%)
Figure 76. Oracle Corporation: Revenue Share by Region, 2022 (%)
Figure 77. Springcm a Docusign Company: Net Revenue, 2020-2022 ($ Million)
Figure 78. Springcm a Docusign Company: Research & Development Expenditure, 2020-2022 ($ Million)
Figure 79. Springcm a Docusign Company: Revenue Share by Region, 2022 (%)

Executive Summary

According to the report, the document management market was valued at $7.1 billion in 2022, and is estimated to reach $34.2 billion by 2032, growing at a CAGR of 17.3% from 2023 to 2032.

The Document Management Market is likely to experience a significant growth rate of 17.3% from 2023-2032, owing to the rise in market demand for document management solutions in several industries

Document management software is used to manage and arrange papers throughout an organization. It includes information retrieval systems, output systems, workflow, document repositories, and document capture. Also, the processes used to track, store, and control documents. In addition, businesses need a competitive advantage to survive and expand in the fast-paced commercial world lately.

Furthermore, advanced document management solutions help organizations rapidly make, operate, and innovate with data to solve business issues. DMS may assist enterprises in increasing productivity and efficiency while lowering expenses. Additionally, it can provide customers with greater ease and superior user experience. In addition, the increasing demand for seamless data accessibility in several businesses for handling vast amounts of data is another driver boosts the global market growth. Such enhanced factors are expected to provide lucrative opportunities for market growth during the forecast period. the growing trend of advanced technologies in organizations is one of the major factors driving the global market growth. A document management platform may combine various documents for improved control, access, and workflow. By combining this capability with AI and cloud computing, organizations may advance their operations. Moreover, it has benefits for information retrieval, security, governance, and decreased operational costs. In addition, the increase in need of organizations to solve common document management challenges is one of the major factors driving the global market growth. These factors actively impact the growth of the market in the forecast period. Additionally, the growing trend of digitally enabled solutions is the major factor driving the market growth.

Moreover, rising adoption of cloud-based solutions in businesses and implementation of advanced DMS solutions in organizations are the factors driving the growth of global document management system market. In addition, there is an increase in demand for remote and distributed workforces, which in turn is expected to create numerous opportunities for the growth of the market. However, employee training and adoption and data privacy concerns and regulatory compliance hamper the growth of the market. Furthermore, surge in adoption of big data management and data analyzing tools by enterprises and Integration of robotic process automation (RPA), which creates opportunities for document management solutions to optimize business operations.

The document management market is segmented into component, deployment mode, enterprise size, end-user, and region. The report provides information on various components including solutions and service. In addition, it is categorized by deployment mode including on-premise and cloud. Based on enterprise size, the market is classified into large enterprises and small & medium-sized enterprises. The details of the end-user namely BFSI, healthcare, government, retail and e-commerce, education, industrial manufacturing and others are also provided in the report. In addition, it analyzes the current market trends across different regions such as North America, Europe, Asia-Pacific, and LAMEA.

The market players operating in the global document management market. This report further outlines the current trends and key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key market players to increase their market share and sustain intense competition in the industry. The key players operating in the market include OpenText Corporation, IBM Corporation, Oracle Corporation, Canon Inc., Ricoh Company, Ltd., SpringCM, Hyland Software Inc., Revver, Inc, Xerox Corporation and Zoho Corporation. For instance, in July 2023, Adlib Software collaborated with Generis to launch a software connector that provides seamless integration between both technology platforms. The platform provides standardized apps for regulatory, quality, safety, and clinical processes powered by a single structured data lake that gives users instant access to cross-functional data and enables powerful process optimization.

Key Market Insights

By component, the solution segment was the highest revenue contributor to the market in 2022, and is estimated to reach $20.12 billion by 2032, with a CAGR of 15.9%. However, the service segment is expected to be the fastest-growing segment with a CAGR of 19.7% during the forecast period.

By deployment mode, the on-premise segment was the highest revenue contributor to the market in 2022, and is estimated to reach $10.78 billion by 2032, with a CAGR of 14.9%. However, the cloud segment is estimated to be the fastest-growing segment with a CAGR of 18.6% during the forecast period.

By enterprise size, the large enterprises segment dominated the global market share in 2022, and is estimated to reach $20.36 billion by 2032, with a CAGR of 16.1%, However, the small and medium-sized enterprises segment is expected to be the fastest-growing segment with a CAGR of 19.2% during the forecast period.

By end user, the BFSI segment was the highest revenue contributor to the market in 2022, and is estimated to reach $9.37 billion by 2032, with a CAGR of 13.9%. However, government segment is estimated to be the fastest-growing segment with a CAGR of 21.9% during the forecast period.

Region-wise, North America was the highest revenue contributor, accounting for $2.50 billion in 2022 and is estimated to reach $9.92 billion by 2032, with a CAGR of 15.1%.

Companies Mentioned

  • Hyland Software Inc.
  • OpenText Corporation
  • Oracle Corporation
  • IBM Corporation
  • Xerox Corporation
  • SpringCM A DocuSign Company
  • Revver, Inc
  • Ricoh Company, Ltd.
  • Zoho Corporation
  • Canon Inc.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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