Document Management System Global Market Report 2023

“Document Management System Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on document management system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for document management system? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The document management system market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Offering: Solutions; Services

• 2) By Deployment Mode: On-Premise; Cloud-Based; Hybrid

• 3) By Organization: Small And Medium-Sized Enterprises (SMEs); Large Enterprises

• 4) By Application: Banking, Financial Services, And Insurance; Government; Education; Healthcare; Corporate; Industrial Manufacturing; Retail; Other Applications

• Companies Mentioned: OpenText Corporation; Xerox Corporation; Ricoh USA Inc; International Business Machines Corporation; Canon Inc

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the document management system market are OpenText Corporation, Xerox Corporation, Ricoh USA Inc., International Business Machines Corporation, Canon Inc., eFileCabinet, SpringCM, Oracle Corporation, Hyland Software, Microsoft Corporation, Asite Solutions, M-Files, Synergis Technologies, Atlassian Corporation Plc, Hewlett-Packard Development Company LP, FileHold Systems Inc., Ecrion Software Inc., and Dell EMC.

The global document management system market is expected to grow from $6.95 billion in 2022 to $7.91 billion in 2023 at a compound annual growth rate (CAGR) of 13.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The document management system market is expected to reach $12.93 billion in 2027 at a CAGR of 13%.

The document management system market consists of sales of document management software, enterprise asset management software, and implementation services. The market value includes the value of related goods sold by the service provider or included within the service offering. The document management system market also includes sales of computers, computer peripherals that are required for providing services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

A document management system refers to an automated software solution for organizing, securing and digitizing an organization's files for centralized storage, access, editing and sharing. It can store, managing, and tracking electronic documents in addition to electronic images of paper-based information.

North America was the largest region in the document management system market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the document management system report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of offerings of document management systems include solutions and services. Solutions refer to the act or process of solving particular problems using a set of software programs and services in an organization. It is used to provide various document management solutions to store, manage and track electronic documents in an organization. These are deployed on-premises, cloud-based and hybrid, and are used by small and medium-sized enterprises (SMEs) and large enterprises. These are applied in applications such as banking, financial services, and insurance(BFSI), government, education, healthcare, corporate, industrial manufacturing, retail and others.

The emergence of paperless offices is expected to drive the growth of the document management systems market going forward. A paperless office refers to a workplace that operates with minimal paper-based processes and relies more on digitized documents to carry out daily business operations. Document management solutions in paperless offices provide for easier management and storage of digital files, allowing employees to effortlessly exchange and review digital files. For instance, in June 2021, the Prasar Bharathi, a public broadcaster in India, adopted 100% e-office operations that have enhanced the speed and transparency in the working of the organization and have created more than 50 thousand e-Files with the status of every file available online. Therefore, the emergence of paperless offices is expected to propel the growth of the document management systems market.

Technological advancement is the key trend that is gaining popularity in the document management systems market. Major companies operating in the market are focused on developing advanced innovations in document management systems which work on artificial intelligence (AI) and machine learning capabilities. For instance, in August 2020, Emprint, a US-based full-service provider of printing and document solutions, launched EmprintWeb, a cloud-based document management system that aims to decrease paperwork, cut costs, and enable to work more efficiently. The system allows healthcare providers to experience significant bottom-line savings and substantial process efficiency.

In October 2020, Hyland Software, a US-based company operating in document management systems, acquired Alfresco for an undisclosed amount. Through this acquisition, Hyland Software aimed to strengthen its product portfolio in document management systems and gain a market advantage. Alfresco Software Inc is a US-based company operating in document management systems.

The countries covered in the document management system market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The document management system market research report is one of a series of new reports from The Business Research Company that provides document management system market statistics, including document management system industry global market size, regional shares, competitors with a document management system market share, document management system tools market segments, market trends and opportunities, and any further data you may need to thrive in the document management system industry. This document management system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.