Enterprise Content Management on the Rise

A recent report from MarketsandMarkets predicts that the Enterprise Content Management market will grow 19.5% over the next 5 years. It is expected that the growth will expand ECM’s current market size of $25 Billion to $60 Billion in 2020. Here is a current look at the ECM market.

What is Enterprise Content Management (ECM)

Enterprise Content Management is a structured plan to organize, retain, and manage copious amounts of internal data, deriving from processes, procedures, etc. ECM is the process of defining, integrating, storing, retrieving, and tracking enterprise documents while enhancing document accessibility and security.

Enterprise Content Management Segments

The Enterprise Content Management Market can be broken down into several sub-segments. Some of these segments include:

Document management
Document imaging
Records management
Digital asset management
Document output management
Electronic document discovery

ECM Market Driving Forces

There are several factors driving the ECM market, including:

The need for content management solutions
The need for streamlining processes
A trend in reducing cost of ownership via content management

Companies are beginning to create procedures and policies to ensure confidentiality, integrity, and consistency while enforcing electronic governance best practices.