Document Management System Global Market Report 2024

Description

Document Management System Global Market Report 2024 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.

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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.

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 (IBM); Canon Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
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

A document management system is an automated software solution designed to organize, secure, and digitize an organization's files. It centralizes storage, provides access, enables editing, and facilitates sharing of documents. This system manages electronic documents and digital images of paper-based information.

Document management systems offer solutions and services. Solutions involve using software programs to solve specific organizational problems, providing capabilities to store, manage, and track electronic documents. These solutions can be deployed on-premises, in the cloud, or through a hybrid model, catering to small and medium-sized enterprises (SMEs) as well as large enterprises. They find applications in various sectors such as banking, financial services, insurance (BFSI), government, education, healthcare, corporate, industrial manufacturing, retail, and others.

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.

The document management system market size has grown rapidly in recent years. It will grow from $8 billion in 2023 to $9.16 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth observed in the historical period can be attributed to factors such as the shift from paper-based to digital documentation, a focus on regulatory compliance and records management, corporate digitization initiatives, the introduction of document imaging and scanning technologies, and the emergence of enterprise content management (ECM) solutions.

The document management system market size is expected to see rapid growth in the next few years. It will grow to $14.95 billion in 2028 at a compound annual growth rate (CAGR) of 13.1%. The anticipated growth in the forecast period can be attributed to the adoption in emerging markets and small to medium enterprises (SMEs), a heightened focus on user experience and mobile accessibility, migration to hybrid and cloud-centric models, an increase in data security concerns, and a growing demand for remote work solutions. Major trends in the forecast period encompass the integration with business applications, an emphasis on remote work and collaboration tools, the implementation of blockchain technology, the adoption of mobile-friendly interfaces, and a focus on cybersecurity and compliance in document management solutions.

The document management systems market is poised for growth, driven by the increasing adoption of paperless offices. A paperless office model minimizes reliance on paper-based processes and prioritizes digital documents for daily business operations. Document management solutions in such environments streamline file management and storage, enabling seamless digital file exchange and review. For example, in June 2021, Prasar Bharathi, a prominent public broadcaster in India, transitioned to 100% e-office operations, resulting in enhanced operational speed, transparency, and the creation of over 50,000 e-files with accessible online statuses. The trend toward paperless offices is anticipated to significantly contribute to the growth of the document management systems market.

The document management system market is experiencing growth impetus due to the increasing shift toward remote work. Remote work, wherein employees conduct their job responsibilities from locations outside the physical office, relies heavily on digital tools for communication and collaboration. Document management systems play a pivotal role in facilitating efficient remote work by providing centralized access to files and ensuring seamless collaboration. A 2022 survey conducted by FlexJobs' Career Pulse revealed a strong preference for remote work among 65% of respondents, with an additional 32% expressing a desire for a hybrid work arrangement. This substantial inclination toward remote work is a key driver for the document management system market.

Major players in the document management system market are actively innovating cutting-edge tools to address the growing need for efficient management of policies and procedures. An example is Documents SE, a document management tool introduced by ShipNet in March 2022. This tool is specifically designed to assist organizations in the effective management of policies and procedures, such as those related to safety and environmental compliance. Documents SE enhances user experience through features like an easy-to-use search function, flexible structure, and a notification mechanism for revisions or assignments. Integrated into the ShipNet One ecosystem, it offers web-based accessibility, platform independence, and seamless file management, catering to the evolving demands of organizations for streamlined document management.

Major companies in the document management system market are introducing advanced solutions, notably end-to-end document management solutions, to streamline the document lifecycle within organizations comprehensively. CyanGate's launch of S-Drive in June 2023 exemplifies this trend. S-Drive is an end-to-end document management solution for Salesforce.com, seamlessly integrating with Formstack to streamline the entire document management process. This solution handles every stage of the document lifecycle within one application, from creation to storage, addressing various use cases such as legal forms and insurance claims. Its secure platform supports document upload, e-signatures, compliance processes, and secure storage and access to files, offering a comprehensive solution to organizations seeking efficient document management.

In January 2021, MetaSource LLC, a US-based provider of business process management solutions, successfully acquired Digiscribe. The financial details of the transaction were not disclosed. This strategic acquisition is designed to broaden MetaSource's presence with the addition of new offices in key locations. Furthermore, the acquisition amplifies MetaSource's business solutions portfolio with products that aim to enhance efficiency and streamline workflows. Digiscribe, the acquired company, is a US-based document management and workflow automation company, specializing in the elimination of paper-based processes. The acquisition aligns with MetaSource's strategic goals of expanding its capabilities and geographic reach within the business process management sector.

Major companies operating in the document management system market report are OpenText Corporation, Xerox Corporation, Ricoh USA Inc., International Business Machines Corporation (IBM), Canon Inc., eFileCabinet Inc., DocuSign Inc., Oracle Corporation, Hyland Software Inc., Microsoft Corporation, Asite Solutions, M-Files Corporation, Synergis Technologies LLC, Atlassian Corporation PLC, Hewlett-Packard Development Company LP, FileHold Systems Inc., Ecrion Software Inc., Dell EMC, Laserfiche Corporation, DocuWare GmbH, Nuance Communications Inc., Adobe Inc., Box Inc., Alfresco Software Inc., Ever Team Software, Nuxeo Ltd., Zoho Corporation Private Limited, Pioneer It Solutions Private Limited, ELO Digital Office GmbH, and Fabasoft AG.

North America was the largest region in the document management system market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the document management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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

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, and 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.

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.

Product Code: r12642

1. Executive Summary

2. Document Management System Market Characteristics

3. Document Management System Market Trends And Strategies

4. Document Management System Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Document Management System Market Size and Growth

5.1. Global Document Management System Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Document Management System Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Document Management System Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Document Management System Market Segmentation

6.1. Global Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Solutions
Services
6.2. Global Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-Premise
Cloud-Based
Hybrid
6.3. Global Document Management System Market, Segmentation By Organization, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Small And Medium-Sized Enterprises (SMEs)
Large Enterprises
6.4. Global Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Banking
Financial Services
And Insurance
Government
Education
Healthcare
Corporate
Industrial Manufacturing
Retail

7. Document Management System Market Regional And Country Analysis

7.1. Global Document Management System Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Document Management System Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Document Management System Market

8.1. Asia-Pacific Document Management System Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Document Management System Market

9.1. China Document Management System Market Overview
9.2. China Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Document Management System Market

10.1. India Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Document Management System Market

11.1. Japan Document Management System Market Overview
11.2. Japan Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Document Management System Market

12.1. Australia Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Document Management System Market

13.1. Indonesia Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Document Management System Market

14.1. South Korea Document Management System Market Overview
14.2. South Korea Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Document Management System Market

15.1. Western Europe Document Management System Market Overview
15.2. Western Europe Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Document Management System Market

16.1. UK Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Document Management System Market

17.1. Germany Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Document Management System Market

18.1. France Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Document Management System Market

19.1. Italy Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Document Management System Market

20.1. Spain Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Document Management System Market

21.1. Eastern Europe Document Management System Market Overview
21.2. Eastern Europe Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Document Management System Market

22.1. Russia Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Document Management System Market

23.1. North America Document Management System Market Overview
23.2. North America Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Document Management System Market

24.1. USA Document Management System Market Overview
24.2. USA Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Document Management System Market

25.1. Canada Document Management System Market Overview
25.2. Canada Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Document Management System Market

26.1. South America Document Management System Market Overview
26.2. South America Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Document Management System Market

27.1. Brazil Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Document Management System Market

28.1. Middle East Document Management System Market Overview
28.2. Middle East Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Document Management System Market

29.1. Africa Document Management System Market Overview
29.2. Africa Document Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Document Management System Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Document Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Document Management System Market Competitive Landscape And Company Profiles

30.1. Document Management System Market Competitive Landscape
30.2. Document Management System Market Company Profiles
- 30.2.1. OpenText Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Xerox Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Ricoh USA Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. International Business Machines Corporation (IBM)
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Canon Inc
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Document Management System Market Competitive Benchmarking

32. Global Document Management System Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Document Management System Market

34. Document Management System Market Future Outlook and Potential Analysis

34.1 Document Management System Market In 2028 - Countries Offering Most New Opportunities
34.2 Document Management System Market In 2028 - Segments Offering Most New Opportunities
34.3 Document Management System Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer