IMARC Group has recently released a new research study “Document Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What Are The Growth Prospects Of The Document Management System Industry?
The global document management system market size reached US$ 7.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 13.3 Billion by 2028, exhibiting a growth rate (CAGR) of 11.2% during 2023-2028.
What Is A Document Management System?
Document management system (DMS) refers to automated software solutions designed for managing documents and files and simplifying data management. They can track, capture, and store electronic documents, including PDFs, word processing files, digital images of paper-based content, etc. Document management system services facilitate document security, access control, audit trails, centralized storage, and streamlined search and retrieval. They allow storing files in the cloud, make sharing information and collaborating easier, and enable documents from multiple sources to be accessible from various locations through an internet connection. Consequently, document management system solutions find extensive applications across numerous sectors, such as banking, information technology (IT), telecommunication, government, healthcare, retail, manufacturing, etc.
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What Are The Key Factors Driving In The Document Management System Market?
The shifting preferences toward web-based services among small and medium-sized enterprises (SMEs) to effectively address consumer concerns are primarily driving the document management system market. In addition to this, the emerging trend of remote working and the increasing need for workforce mobility and other integrated facility management systems to access official assets and reduce the physical infrastructure requirements of the organization are acting as significant growth-inducing factors. Apart from this, the elevating elimination of the traditional concept of paper files and the growing requirement for cohesive data on patients in the healthcare segment are also positively influencing the global market. Moreover, the inflating sales of smartphones and the rising integration of DMS with artificial intelligence (AI), machine learning (ML), point of sale (POS) platforms, virtual and augmented reality (VR and AR), etc., to meet consumer-specific needs are expected to propel the document management system market over the forecasted period.
Who Are The Key Players/Companies In The Global Document Management System Market?
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
Report Segmentation:
The report has been segmented the market into following categories:
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
By Geography:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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Document Management System Market OverviewThe data experts at Market Research Future Reports (MRFR), the global document management system market is anticipated to hold a substantial value, thriving at a promising CAGR by the end of 2023.
Besides, the affordability of and the subscription fee policy is the primary area of focus for the market participants for capitalizing on the startup culture.
Also, unstructured content makes it ambiguous to monitor the large-sized organizations, which increases the demand for DMS.
The halt caused in business operations is estimated to bring a considerable impact on market revenue.
We will provide an impact analysis report on COVID-19.Get More Details of Report @ https://www.abnewswire.com/pressreleases/document-management-system-market-size-share-growth-analysis-sales-revenue-top-leaders-developments-future-plans-segmentation-and-regional-forecast-2023_500187.htmlMarket SegmentationDocument management system industry has been dissected based on the primary segments of deployment, organization size and end-user.The deployment of the document management system is generally done either over the cloud or on-premise.Large and small & medium enterprises (SMEs) are the organization size-based segments listed in the report.With respect to end-users, document management systems are being increasingly deployed across healthcare, retail, education, BFSI, and others.
The adoption of document management systems enables players in the healthcare industry to create electronic patient records, thus, minimizing the risk of important documentation being misplaced and increasing security access.Key Players:Important market players have been included in MRFR’s assessment of the competitive landscape of the document management system global market; these include Agiloft, HP, SpringCM, OpenText Corporation, Microsoft Corporation, Xerox Corporation, Alfresco Softwre Inc., IBM Corporation, Oracle Corporation, eFile Cabinet Inc., Canon Inc., Asite, Hyland Software Inc., and Ricoh Company Ltd.
The Document Management System Market Research Report Forecast is a valuable source of insightful data for business strategists.
It provides the industry overview with recent trends, size, share, growth analysis, historical, futuristic data, revenue, demand and strategic development.The entire document management system market has been sub-categorized into offering, deployment mode, organization and application.
The report provides an analysis of these subsets with respect to the geographical segmentation.
This research study will keep marketer informed and helps to identify the target demographics for a product or service.Request a FREE Sample Copy of Global Document Management System Market Report with Full TOC At: https://www.valuemarketresearch.com/contact/document-management-system-market/download-sampleBy OfferingSolutionsServicesBy Deployment ModeOn-PremiseCloud-BasedHybridBy OrganizationSmall and Medium-Sized EnterprisesLarge EnterprisesBy ApplicationBanking, Financial Services, and Insurance (BFSI)GovernmentEducationHealthcareCorporateIndustrial ManufacturingRetailOtherThe research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the document management system market include Agiloft, HP, SpringCM, OpenText Corporation, Microsoft Corporation, Xerox Corporation, Alfresco Softwre Inc., IBM Corporation, Oracle Corporation, eFile Cabinet Inc., Canon Inc., Asite, Hyland Software Inc., Ricoh Company Ltd.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.This section covers regional segmentation which accentuates on current and future demand for document management system market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
