PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1358999
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1358999
Document Management System Market Forecasts to 2030 - Global Analysis By Component (Solutions and Services), Deployment Mode, Organization, Application and By Geography
According to Stratistics MRC, the Global Document Management System Market is accounted for $6.06 billion in 2023 and is expected to reach $7.89 billion by 2030 growing at a CAGR of 19.2% during the forecast period. A system for managing, storing, and tracking electronic documents is known as document management. This system organizes the electronic documents' retrieval, processing, printing, storage, routing, and dissemination. Its main objective is to make managing digital documents easier while ensuring that they are safe, compatible with applicable laws, and easily available. Additionally, it addresses the creation and modification of papers and aids in centralizing disorganized records.
According to an analysis which has done by American Medical Association (AMA) conducted in 2019 and repeated in 2022 exhibited, remote monitoring and management adoption grew from 13% to 22%, tele-visits/virtual visit adoption augmented from 14% to 28%, and remote monitoring efficiency adoption grew from 28% to 37%.
Market Dynamics:
Driver:
Increasing demand to improve corporate company processes
Many businesses are implementing document management processes to gain awareness of and control over the papers and data entering and leaving the organisation. Regardless of whether they are working remotely or in the office, organizations want to make sure that all workers have access to the most recent and updated versions of the document management system. This would enable users to work without any bother or back-and-forth emailing. This is the element driving the market's expansion.
Restraint:
Insufficient technological knowledge
Lack of technical knowledge and skills, particularly in emerging and established countries, as well as a lack of awareness and qualified experts among those at the management level would cause issues for the market. Sensitive data may be compromised as a result of inadequate security measures. Furthermore, the market's development rate will once again be hampered by a shortage of qualified specialists and a low experience level.
Opportunity:
Increasing demand in healthcare sector
In the healthcare sector, significant volumes of crucial data are manually gathered through various internal IT systems, databases, collections of papers, and forms. Major market participants establish electronic patient records in the healthcare sector due to the use of document management systems, minimizing the risk of increased security access and missing paperwork. This is the factor propelling the growth of the market during the forecast period.
Threat:
High Costs
The number of users, the features required, the installation costs, and the system type may all have a considerable impact on the typical pricing of the most widely used document management systems. The price of system installation and maintenance must also be taken into account in addition to the cost of the program itself. Even if the program may have a modest initial cost, there are usually additional charges to take into account. Many of these pricing barriers are a factor in the market's slow expansion.
COVID-19 Impact:
The demand for DMS software and services has decreased as a result of the COVID-19 epidemic. End-use businesses all throughout the world utilized digital technology during the epidemic. Digital platforms including social networking, e-commerce, and information platforms have been embraced by consumers. enterprises on the market are concentrating on creating cutting-edge document management solutions for enterprises to boost workplace productivity.
The services segment is expected to be the largest during the forecast period
The services segment is expected to be the largest during the forecast period. A system or service used to collect, monitor, and store electronic documents including PDFs, word processing files, and digital pictures of paper-based material is known as document management. Utilizing document management may help someone save time and money. Centralized storage, audit trails, access control, document security, and quicker search and retrieval are all features it provides. The amount of space needed for paper storage may be substantial. Effective recordkeeping is also increasingly becoming a legal obligation.
The healthcare segment is expected to have the highest CAGR during the forecast period
The healthcare segment is expected to have the highest CAGR during the forecast period. The need for numerous solutions and services, including telehealth, telecare, telemedicine, and mHealth, is on the rise as a result of the Internet of Things and rising internet usage. Players in the healthcare sector may now establish electronic patient records due to the deployment of document management systems, which lowers the possibility of lost paperwork and increases security access.
Region with largest share:
North America is projected to hold the largest market share during the forecast period due to fast digitalization and rising investments in digital platforms. Organizations in the public sector are under pressure to keep their operations compliance with regulatory standards while securely storing outdated data and documents. The Content Cloud provides simple connectivity and a useful strategy for expediting approvals and inspiring personnel. These elements support the market's regional revenue development.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period. The region's governments' increased adoption of document management systems to stop illicit trade and transportation and improve their workflows. The need for public sector organizations to maintain regulatory compliance while securely archiving old data and documents is anticipated to drive growth in the market for document management systems during the forecast period.
Key players in the market:
Some of the key players in Document Management System market include: Microsoft Corporation, IBM Corporation, Hyland Software, Opentext Corporation, Oracle Corporation, Logicaldoc, Document360, Nuxeo, Agiloft, Inc. Kissflow, Cflowapps, Integrify, Open Text Corporation, DocLogix, Zoho Corporation, Canon, Hyland and Inspectorio.
Key Developments:
In November 2022, Inspectorio, a provider of cloud-based SaaS solutions for logistics enterprises, unveiled Inspectorio DocuFlow, a document management solution.
In March 2022, ShipNet launched Documents SE, a DMS tool to help enterprises manage policies and procedures. This tool can be accessed anywhere, on any platform (Mac OS, Windows OS), and provides flexibility to remote work culture.
In March 2022, Xerox Corporation launched an electronic document management system, which plays a vital role to improve productivity and smart workplace after the pandemic.
Offerings Covered:
- Solutions
- Services
Deployment Modes Covered:
- Cloud-Based
- Hybrid
- On-Premise
Organizations Covered:
- Large Enterprises
- Small and Medium-Sized Enterprises
Applications Covered:
- Education
- Corporate
- Banking, Financial Services, and Insurance (BFSI)
- Retail
- Government
- Healthcare
- Industrial Manufacturing
- Other Applications
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Document Management System Market, By Offering
- 5.1 Introduction
- 5.2 Solutions
- 5.3 Services
- 5.3.1 Training and Education
- 5.3.2 Support and Maintenance
- 5.3.3 Implementation Services
6 Global Document Management System Market, By Deployment Mode
- 6.1 Introduction
- 6.2 Cloud-Based
- 6.3 Hybrid
- 6.4 On-Premise
7 Global Document Management System Market, By Organization
- 7.1 Introduction
- 7.2 Large Enterprises
- 7.3 Small and Medium-Sized Enterprises
8 Global Document Management System Market, By Application
- 8.1 Introduction
- 8.2 Education
- 8.3 Corporate
- 8.4 Banking, Financial Services, and Insurance (BFSI)
- 8.5 Retail
- 8.6 Government
- 8.7 Healthcare
- 8.8 Industrial Manufacturing
- 8.9 Other Applications
9 Global Document Management System Market, By Geography
- 9.1 Introduction
- 9.2 North America
- 9.2.1 US
- 9.2.2 Canada
- 9.2.3 Mexico
- 9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 Italy
- 9.3.4 France
- 9.3.5 Spain
- 9.3.6 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 Japan
- 9.4.2 China
- 9.4.3 India
- 9.4.4 Australia
- 9.4.5 New Zealand
- 9.4.6 South Korea
- 9.4.7 Rest of Asia Pacific
- 9.5 South America
- 9.5.1 Argentina
- 9.5.2 Brazil
- 9.5.3 Chile
- 9.5.4 Rest of South America
- 9.6 Middle East & Africa
- 9.6.1 Saudi Arabia
- 9.6.2 UAE
- 9.6.3 Qatar
- 9.6.4 South Africa
- 9.6.5 Rest of Middle East & Africa
10 Key Developments
- 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 10.2 Acquisitions & Mergers
- 10.3 New Product Launch
- 10.4 Expansions
- 10.5 Other Key Strategies
11 Company Profiling
- 11.1 Microsoft Corporation
- 11.2 IBM Corporation
- 11.3 Hyland Software
- 11.4 Opentext Corporation
- 11.5 Oracle Corporation
- 11.6 Logicaldoc
- 11.7 Document360
- 11.8 Nuxeo
- 11.9 Agiloft, Inc.
- 11.10 Kissflow
- 11.11 Cflowapps
- 11.12 Integrify
- 11.13 Open Text Corporation
- 11.14 DocLogix
- 11.15 Zoho Corporation
- 11.16 Canon
- 11.17 Hyland
- 11.18 Inspectorio
List of Tables
- Table 1 Global Document Management System Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Document Management System Market Outlook, By Offering (2021-2030) ($MN)
- Table 3 Global Document Management System Market Outlook, By Solutions (2021-2030) ($MN)
- Table 4 Global Document Management System Market Outlook, By Services (2021-2030) ($MN)
- Table 5 Global Document Management System Market Outlook, By Training and Education (2021-2030) ($MN)
- Table 6 Global Document Management System Market Outlook, By Support and Maintenance (2021-2030) ($MN)
- Table 7 Global Document Management System Market Outlook, By Implementation Services (2021-2030) ($MN)
- Table 8 Global Document Management System Market Outlook, By Deployment Mode (2021-2030) ($MN)
- Table 9 Global Document Management System Market Outlook, By Cloud-Based (2021-2030) ($MN)
- Table 10 Global Document Management System Market Outlook, By Hybrid (2021-2030) ($MN)
- Table 11 Global Document Management System Market Outlook, By On-Premise (2021-2030) ($MN)
- Table 12 Global Document Management System Market Outlook, By Organization (2021-2030) ($MN)
- Table 13 Global Document Management System Market Outlook, By Large Enterprises (2021-2030) ($MN)
- Table 14 Global Document Management System Market Outlook, By Small and Medium-Sized Enterprises (2021-2030) ($MN)
- Table 15 Global Document Management System Market Outlook, By Application (2021-2030) ($MN)
- Table 16 Global Document Management System Market Outlook, By Education (2021-2030) ($MN)
- Table 17 Global Document Management System Market Outlook, By Corporate (2021-2030) ($MN)
- Table 18 Global Document Management System Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2021-2030) ($MN)
- Table 19 Global Document Management System Market Outlook, By Retail (2021-2030) ($MN)
- Table 20 Global Document Management System Market Outlook, By Government (2021-2030) ($MN)
- Table 21 Global Document Management System Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 22 Global Document Management System Market Outlook, By Industrial Manufacturing (2021-2030) ($MN)
- Table 23 Global Document Management System Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 24 North America Document Management System Market Outlook, By Country (2021-2030) ($MN)
- Table 25 North America Document Management System Market Outlook, By Offering (2021-2030) ($MN)
- Table 26 North America Document Management System Market Outlook, By Solutions (2021-2030) ($MN)
- Table 27 North America Document Management System Market Outlook, By Services (2021-2030) ($MN)
- Table 28 North America Document Management System Market Outlook, By Training and Education (2021-2030) ($MN)
- Table 29 North America Document Management System Market Outlook, By Support and Maintenance (2021-2030) ($MN)
- Table 30 North America Document Management System Market Outlook, By Implementation Services (2021-2030) ($MN)
- Table 31 North America Document Management System Market Outlook, By Deployment Mode (2021-2030) ($MN)
- Table 32 North America Document Management System Market Outlook, By Cloud-Based (2021-2030) ($MN)
- Table 33 North America Document Management System Market Outlook, By Hybrid (2021-2030) ($MN)
- Table 34 North America Document Management System Market Outlook, By On-Premise (2021-2030) ($MN)
- Table 35 North America Document Management System Market Outlook, By Organization (2021-2030) ($MN)
- Table 36 North America Document Management System Market Outlook, By Large Enterprises (2021-2030) ($MN)
- Table 37 North America Document Management System Market Outlook, By Small and Medium-Sized Enterprises (2021-2030) ($MN)
- Table 38 North America Document Management System Market Outlook, By Application (2021-2030) ($MN)
- Table 39 North America Document Management System Market Outlook, By Education (2021-2030) ($MN)
- Table 40 North America Document Management System Market Outlook, By Corporate (2021-2030) ($MN)
- Table 41 North America Document Management System Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2021-2030) ($MN)
- Table 42 North America Document Management System Market Outlook, By Retail (2021-2030) ($MN)
- Table 43 North America Document Management System Market Outlook, By Government (2021-2030) ($MN)
- Table 44 North America Document Management System Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 45 North America Document Management System Market Outlook, By Industrial Manufacturing (2021-2030) ($MN)
- Table 46 North America Document Management System Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 47 Europe Document Management System Market Outlook, By Country (2021-2030) ($MN)
- Table 48 Europe Document Management System Market Outlook, By Offering (2021-2030) ($MN)
- Table 49 Europe Document Management System Market Outlook, By Solutions (2021-2030) ($MN)
- Table 50 Europe Document Management System Market Outlook, By Services (2021-2030) ($MN)
- Table 51 Europe Document Management System Market Outlook, By Training and Education (2021-2030) ($MN)
- Table 52 Europe Document Management System Market Outlook, By Support and Maintenance (2021-2030) ($MN)
- Table 53 Europe Document Management System Market Outlook, By Implementation Services (2021-2030) ($MN)
- Table 54 Europe Document Management System Market Outlook, By Deployment Mode (2021-2030) ($MN)
- Table 55 Europe Document Management System Market Outlook, By Cloud-Based (2021-2030) ($MN)
- Table 56 Europe Document Management System Market Outlook, By Hybrid (2021-2030) ($MN)
- Table 57 Europe Document Management System Market Outlook, By On-Premise (2021-2030) ($MN)
- Table 58 Europe Document Management System Market Outlook, By Organization (2021-2030) ($MN)
- Table 59 Europe Document Management System Market Outlook, By Large Enterprises (2021-2030) ($MN)
- Table 60 Europe Document Management System Market Outlook, By Small and Medium-Sized Enterprises (2021-2030) ($MN)
- Table 61 Europe Document Management System Market Outlook, By Application (2021-2030) ($MN)
- Table 62 Europe Document Management System Market Outlook, By Education (2021-2030) ($MN)
- Table 63 Europe Document Management System Market Outlook, By Corporate (2021-2030) ($MN)
- Table 64 Europe Document Management System Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2021-2030) ($MN)
- Table 65 Europe Document Management System Market Outlook, By Retail (2021-2030) ($MN)
- Table 66 Europe Document Management System Market Outlook, By Government (2021-2030) ($MN)
- Table 67 Europe Document Management System Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 68 Europe Document Management System Market Outlook, By Industrial Manufacturing (2021-2030) ($MN)
- Table 69 Europe Document Management System Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 70 Asia Pacific Document Management System Market Outlook, By Country (2021-2030) ($MN)
- Table 71 Asia Pacific Document Management System Market Outlook, By Offering (2021-2030) ($MN)
- Table 72 Asia Pacific Document Management System Market Outlook, By Solutions (2021-2030) ($MN)
- Table 73 Asia Pacific Document Management System Market Outlook, By Services (2021-2030) ($MN)
- Table 74 Asia Pacific Document Management System Market Outlook, By Training and Education (2021-2030) ($MN)
- Table 75 Asia Pacific Document Management System Market Outlook, By Support and Maintenance (2021-2030) ($MN)
- Table 76 Asia Pacific Document Management System Market Outlook, By Implementation Services (2021-2030) ($MN)
- Table 77 Asia Pacific Document Management System Market Outlook, By Deployment Mode (2021-2030) ($MN)
- Table 78 Asia Pacific Document Management System Market Outlook, By Cloud-Based (2021-2030) ($MN)
- Table 79 Asia Pacific Document Management System Market Outlook, By Hybrid (2021-2030) ($MN)
- Table 80 Asia Pacific Document Management System Market Outlook, By On-Premise (2021-2030) ($MN)
- Table 81 Asia Pacific Document Management System Market Outlook, By Organization (2021-2030) ($MN)
- Table 82 Asia Pacific Document Management System Market Outlook, By Large Enterprises (2021-2030) ($MN)
- Table 83 Asia Pacific Document Management System Market Outlook, By Small and Medium-Sized Enterprises (2021-2030) ($MN)
- Table 84 Asia Pacific Document Management System Market Outlook, By Application (2021-2030) ($MN)
- Table 85 Asia Pacific Document Management System Market Outlook, By Education (2021-2030) ($MN)
- Table 86 Asia Pacific Document Management System Market Outlook, By Corporate (2021-2030) ($MN)
- Table 87 Asia Pacific Document Management System Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2021-2030) ($MN)
- Table 88 Asia Pacific Document Management System Market Outlook, By Retail (2021-2030) ($MN)
- Table 89 Asia Pacific Document Management System Market Outlook, By Government (2021-2030) ($MN)
- Table 90 Asia Pacific Document Management System Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 91 Asia Pacific Document Management System Market Outlook, By Industrial Manufacturing (2021-2030) ($MN)
- Table 92 Asia Pacific Document Management System Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 93 South America Document Management System Market Outlook, By Country (2021-2030) ($MN)
- Table 94 South America Document Management System Market Outlook, By Offering (2021-2030) ($MN)
- Table 95 South America Document Management System Market Outlook, By Solutions (2021-2030) ($MN)
- Table 96 South America Document Management System Market Outlook, By Services (2021-2030) ($MN)
- Table 97 South America Document Management System Market Outlook, By Training and Education (2021-2030) ($MN)
- Table 98 South America Document Management System Market Outlook, By Support and Maintenance (2021-2030) ($MN)
- Table 99 South America Document Management System Market Outlook, By Implementation Services (2021-2030) ($MN)
- Table 100 South America Document Management System Market Outlook, By Deployment Mode (2021-2030) ($MN)
- Table 101 South America Document Management System Market Outlook, By Cloud-Based (2021-2030) ($MN)
- Table 102 South America Document Management System Market Outlook, By Hybrid (2021-2030) ($MN)
- Table 103 South America Document Management System Market Outlook, By On-Premise (2021-2030) ($MN)
- Table 104 South America Document Management System Market Outlook, By Organization (2021-2030) ($MN)
- Table 105 South America Document Management System Market Outlook, By Large Enterprises (2021-2030) ($MN)
- Table 106 South America Document Management System Market Outlook, By Small and Medium-Sized Enterprises (2021-2030) ($MN)
- Table 107 South America Document Management System Market Outlook, By Application (2021-2030) ($MN)
- Table 108 South America Document Management System Market Outlook, By Education (2021-2030) ($MN)
- Table 109 South America Document Management System Market Outlook, By Corporate (2021-2030) ($MN)
- Table 110 South America Document Management System Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2021-2030) ($MN)
- Table 111 South America Document Management System Market Outlook, By Retail (2021-2030) ($MN)
- Table 112 South America Document Management System Market Outlook, By Government (2021-2030) ($MN)
- Table 113 South America Document Management System Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 114 South America Document Management System Market Outlook, By Industrial Manufacturing (2021-2030) ($MN)
- Table 115 South America Document Management System Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 116 Middle East & Africa Document Management System Market Outlook, By Country (2021-2030) ($MN)
- Table 117 Middle East & Africa Document Management System Market Outlook, By Offering (2021-2030) ($MN)
- Table 118 Middle East & Africa Document Management System Market Outlook, By Solutions (2021-2030) ($MN)
- Table 119 Middle East & Africa Document Management System Market Outlook, By Services (2021-2030) ($MN)
- Table 120 Middle East & Africa Document Management System Market Outlook, By Training and Education (2021-2030) ($MN)
- Table 121 Middle East & Africa Document Management System Market Outlook, By Support and Maintenance (2021-2030) ($MN)
- Table 122 Middle East & Africa Document Management System Market Outlook, By Implementation Services (2021-2030) ($MN)
- Table 123 Middle East & Africa Document Management System Market Outlook, By Deployment Mode (2021-2030) ($MN)
- Table 124 Middle East & Africa Document Management System Market Outlook, By Cloud-Based (2021-2030) ($MN)
- Table 125 Middle East & Africa Document Management System Market Outlook, By Hybrid (2021-2030) ($MN)
- Table 126 Middle East & Africa Document Management System Market Outlook, By On-Premise (2021-2030) ($MN)
- Table 127 Middle East & Africa Document Management System Market Outlook, By Organization (2021-2030) ($MN)
- Table 128 Middle East & Africa Document Management System Market Outlook, By Large Enterprises (2021-2030) ($MN)
- Table 129 Middle East & Africa Document Management System Market Outlook, By Small and Medium-Sized Enterprises (2021-2030) ($MN)
- Table 130 Middle East & Africa Document Management System Market Outlook, By Application (2021-2030) ($MN)
- Table 131 Middle East & Africa Document Management System Market Outlook, By Education (2021-2030) ($MN)
- Table 132 Middle East & Africa Document Management System Market Outlook, By Corporate (2021-2030) ($MN)
- Table 133 Middle East & Africa Document Management System Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2021-2030) ($MN)
- Table 134 Middle East & Africa Document Management System Market Outlook, By Retail (2021-2030) ($MN)
- Table 135 Middle East & Africa Document Management System Market Outlook, By Government (2021-2030) ($MN)
- Table 136 Middle East & Africa Document Management System Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 137 Middle East & Africa Document Management System Market Outlook, By Industrial Manufacturing (2021-2030) ($MN)
- Table 138 Middle East & Africa Document Management System Market Outlook, By Other Applications (2021-2030) ($MN)
