Enterprises are generating large amount of data related to business operations. Such big data needs to be managed and regulated. Enterprise content management refers to the formal way of consolidating documents of any organization and other contents related to the workflow or business processes of that particular organization. It comprises of all the strategies and methods encompassed throughout the business operations. This includes web content management and digital asset management. If this process is based on cloud then it is referred to as cloud ECM. The sensitive information generated is an integral part of any business, so it is necessary to have a strong content management systems or solutions which would help and regulate the required workflow.
There is a rapid increase in digital content across the organizations along with that, the data is easily accessible from any part of the globe. ECM simplifies the whole process of storing and managing the data. The concept of storage as a service (SaaS) is being explored widely which allows organizations to store data on cloud rather having to buy any physical storage. There has been an evident increase in the volume of documents which are generated in any enterprise, and the increase is significant on daily basis and hence it is required that the data to be properly stored and managed.
The increased adoption of cloud computing is adding substantial pace to the growth of cloud ECM market. There is an increasing trend of enterprise mobility as enterprises need to manage the data for their offices located globally. There is increase in critical business content or information, where security is an important measure.The security can be managed through cloud ECM, as it becomes extremely easy to monitor who is accessing data and from where it is being accessed. Additionally, there is a workload balance and a unified view of storage. Thus factors such as reduction in operational expenditure and increased awareness about the benefits of cloud ECM solutions are expected to drive the market during the forecast period.
There can be some technical outages, suspending the whole process for some time such as internet breakdown or power outages. Also, there exists bandwidth limitation implying the migration of data in a given time frame is limited. There can be some incompatibilities with the storage of data. All such factors are expected to restrain the market growth during the forecast period.Market for cloud ECM can be segmented on the basis of solution, deployment model, organization size, industry vertical and geography. On the basis of deployment model, the market can be segmented into case management, workflow management, document management, content management, record management, digital asset management and others. On the basis of deployment model, the market can be segmented into public cloud, private cloud and hybrid cloud.
On the basis of organization size, the market can be segmented into small and medium size enterprises and large size enterprises. On the basis of industry verticals, the market can be segmented into banking, financial services, and insurance (BFSI), education, utilities, government and public sector, healthcare, manufacturing, media and entertainment, retail and consumer goods, IT & telecommunication and others. On the basis of services, the market can be segmented into managed services and professional services. On the basis of geography, the market is segmented into North America, South America, Europe, Middle East & Africa and Asia Pacific.
Key players for cloud enterprise content management market are Alfresco Software, Inc., ASG Technologies, Box, Inc., Docuware GmbH, Epicor Software Corporation, Everteam, Fabsoft Software, Inc. Hewlett Packard Enterprise, Hyland Software, Inc., IBM Corporation, Laserfiche, Lexmark International, Inc. , MaxxVault LLC, M-Ffiles Corporation, Microsoft Corporation, Micro Strategies Inc., Newgen Software Inc., Nuxeo , Objective Corporation, OpenTtext Corporation, Oracle Corporation, SER Ggroup Holding International GmbH and Xerox Corporation.
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