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Electronic Document Management System Market Study by Future Growth Insights and Business Prospects to 2024

Author : Ronak Bora | Published Date : 2020-09-10 

The electronic document management system market is witnessing growth in the government sector as these solutions eliminate the paper-based documentation techniques and efficiently manage workflow operations. Furthermore, the utilization of these solutions allows the government to improvise efficiency and maintain transparency across all the departments. With the volume of papers growing enormously, the deployment of electronic documents is expected to help organizations achieve a huge saving in terms of costs.

Software solution providers in the electronic document management system market provide desktop-based, network-based as well as cloud-based solutions for the efficient management of business documentation needs. These providers are realizing the requirement for customized process and content management. Moreover, the partnership between the service providers and software developers is increasing the scope for new possibilities for integrating new functionalities in the document management solutions. The service providers offer a range of service, which includes installation, integration, consulting, and training services for streamlining the business workflow.

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The on-premise deployment in the electronic document management system market is predicted to witness a significant growth over the forecast timespan. The growth can be accredited to the rising utilization of these solutions for operations that include an enormous number of documents with a large file. Moreover, cloud-based solutions are an ideal fit for users with inadequate workforce and a large number of customers, who use remote solutions. Increasing implementation of cloud-based solutions can be attributed to the low cost of subscription followed by the easy storage and information accessibility.

The growing emergence of IT solutions and surging adoption of digitization has had a positive impact on electronic document management system market. In today’s scenario, documents have become an integral part of the corporate and and academic sectors. In consequence, document management systems have attained a preferential position in every organization, given that an effective document management strategy helps companies retrieve important documents very efficiently when required. For instance, Digipaper is one of the most versatile and innovative software products implemented by several organizations to manage the escalating accumulation of digital and paper documents by generating archives for efficient and convenient operations.  It is also prudent to state that converting paper documents to digital ones is one of major factors certain to stimulate electronic document management system industry share.

An effective EDM system also reduces the wastage of time and the frustration that stems from not finding the right documents when needed. It has been observed that once an effective document management system is installed in an organization, the quality of work, customer satisfaction, and operational efficiency soars to tremendously great heights. The rising implementation of EDMS technology thus, will lead to electronic document management system market witnessing tremendous growth in the ensuing years, having accumulated USD 2 billion in 2016.

The rising demand for cloud storage and growing volume of data are anticipated to drive the Asia Pacific electronic document management system market. Favorable government regulations coupled with the increasing penetration of SaaS-based solutions further contribute to the regional market demand. The presence of a large number of industry players and the rising adoption of such solutions across the BFSI and medical sectors are driving the North America and Europe industry growth.

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Companies operating in the electronic document management system market include Google, Inc., Adobe Systems, Inc., DropBox, CGI Group, Inc., Alfresco One Software, eFileCabinet, MasterControl, Ideagen PLC, DocSTAR, Zoho Corp., and Oracle Corporation. The industry players are heavily investing in R&D to develop new and advanced technological solutions, which can be easily incorporated into the existing IT platforms.

Table of Contents (ToC) of the report:

Chapter 1.   Methodology and Scope

1.1.  Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Definition and forecast parameters

1.2.  Data Sources

1.2.1. Primary

1.2.2. Secondary

Chapter 2.   Executive Summary

2.1.  Electronic document management systems industry 3600 synopsis, 2013 - 2024

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Solution trends

2.1.4. Deployment trends

2.1.5. Application trends

Chapter 3.   Electronic Document Management System Market Insights

3.1.  Industry segmentation

3.2.  Industry landscape, 2013 - 2024

3.3.  Industry ecosystem analysis

3.3.1. Software / cloud service providers

3.3.2. Collaborators

3.3.3. Service providers

3.3.4. Value added resellers

3.3.5. End-user market

3.4.  Technology landscape

3.4.1. Social technology

3.4.2. Mobile device integration

3.4.3. Client portals

3.5.  Regulatory landscape

3.5.1. North America

3.5.2. Europe

3.5.3. Asia Pacific

3.5.4. Latin America

3.5.5. MEA

3.6.  Industry impact forces

3.6.1. Growth drivers

3.6.1.1.    Stringent regulatory framework in the U.S.

3.6.1.2.    Emerging demand for cloud services in the UK

3.6.1.3.    Demand from government institutions in Russia

3.6.1.4.    Penetration of SaaS-based solutions in China and Japan

3.6.1.5.    Digitization in India

3.6.2. Industry pitfalls and challenges

3.6.2.1.    Data security concerns

3.6.2.2.    High cost of implementation

3.7.  Growth potential analysis

3.7.1. Business model

3.8.  Porter’s analysis

3.8.1. Threat of new entrants

3.8.2. Buyer’s power

3.8.3. Threat of substitutes

3.8.4. Threat of suppliers

3.8.5. Industry rivalry

3.9.  Competitive landscape, 2016

3.9.1. Key vendors overview

3.9.2. Market share of pure EDM software providers, 2016

3.9.3. Strategy dashboard

3.10.      PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/electronic-document-management-system-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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