Global Document Management System Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Document Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global document management system market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global document management system market size reached US$ 7.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.3 Billion by 2028, exhibiting a growth rate (CAGR) of 11.2% during 2023-2028.
A document management system (DMS) is a specialized software solution that is designed to efficiently organize, store, track, and manage electronic documents and files in a business environment. It enables companies to transition from paper-based document handling to a streamlined digital approach. It offers various features, such as document capture, indexing, version control, search functionality, and permission-based access. It reduces manual document handling, eliminate redundancies, ensure regulatory compliance, and enhance productivity across various departments. Besides this, it assists in improving overall document accessibility, security, and collaboration.
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Global Document Management System Market Trends and Drivers:
Presently, rising concerns for data security and compliance represent one of the major factors contributing to the market growth. Besides this, the growing demand for centralized and cloud-based document storage among business organizations is offering a positive market outlook. Moreover, the increasing emergence of advanced technologies, such as artificial intelligence (AI) and machine learning (ML) in DMS, to automate metadata extraction, enhance productivity gains, and improve decision-making efficiency is supporting the growth of the market. Apart from this, the rising demand for DMS among businesses for handling electronic documents, such as contracts, invoices, and reports to emails and multimedia files, is bolstering the growth of the market. Furthermore, the increasing adoption of DMS, as they reduce paper consumption and printing costs, is strengthening the growth of the market.
Global Document Management System Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Agiloft Inc., DocuSign Inc., eFileCabinet, Hyland Software, International Business Machines Corporation, OpenText Corporation, Oracle Corporation, Ricoh Company Ltd., Scrypt Inc., Synergis Technologies LLC, Xerox Holdings Corporation and Zoho Corporation
The report segmented the market on the basis of region, offering, deployment mode, organization and application.
Breakup by Offering:
- Services
- Solution
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Organization:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Application:
- BFSI
- IT and Telecommunication
- Government
- Healthcare
- Retail
- Manufacturing
- Others
Breakup By Regions:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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