Electronic Document Management System Market to grow at 15% CAGR from 2017 to 2024

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Electronic Document Management System Market to
grow at 15 CAGR from 2017 to 2024 Global Market
Insights Inc.
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Industry Overview

• Rise in adoption of cloud computing, BYOD trend,
  penetration of SaaS based solutions and Big Data
  are expected to drive electronic document
  management system market growth. Such solutions
  enable organizations to streamline workflow and
  efficiently handle their documentation needs,
  thereby improving individual productivity and
  enable organizations to centralize unstructured
  content and extract business related information
  quickly and effectively. It controls the
  creation, duplication, deletion and distribution
  of document digitally. Moreover, aids in
  controlling multiple versions of the same
  document and provides federated searches.
• Regulations requiring the need to maintain data
  compliance across industries are expected to
  propel growth of EDMS market. However, cyber
  security issues of online DMS and high
  implementation and maintenance cost of on-premise
  solutions may hinder growth. Key trends impacting
  growth include social integration, workflow
  collaboration, customized client portals and
  mobile device integration. EDMS market solutions
  enable archiving, indexing, accessing and
  retrieval of documents.

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• The rise in demand for document retention as a
  result of stringent rules and regulations
  governing the storage of company records is
  benefitting the global electronic document
  management system market. Increase in the
  formation of new businesses has also led to the
  steep demand for such solutions as they provide
  co-ordination and control over flow of documents
  in a protective and efficient manner. Key
  benefits of EDMS include data protection,
  information destruction, records management and
  recovery services.
• Major industry verticals deploying such solutions
  include government, medical, commercial, BFSI,
  legal and education. A strong growth opportunity
  for the electronic document management system
  market can be witnessed in the medical field,
  wherein the regulatory requirements and adoption
  of health-related ERP systems are driving growth.
  Incentives are offered to healthcare providers to
  digitize their records.
• Software providers in the electronic document
  management system market offer desktop solutions,
  network/server-based and cloud-based solutions to
  capture and manage their business documentation
  needs. The core implementation team consists of
  application developers, project managers and
  coordinators. Collaboration between software
  developers and service providers add capabilities
  to coalesce on a common platform and embed
  functions into the document management solution.
  Service providers offer means for implementing
  EDMS into the actual workplace.

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UK EDMS market size, by service, 2016 2024 (USD
Million)

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Industry Coverage
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• Asia Pacific electronic document management
  system market is expected to witness sharp growth
  owing rising penetration of SaaS based solutions
  and favorable government initiatives in the
  region. Furthermore, the increasing volume of
  data and growing demand for cloud storage is also
  expected to augment demand in the region. North
  America holds a major share in the global EDMS
  market owing to presence of large number of EMDS
  solution providers and early adoption of
  technology in the region.
• Key players in the electronic document management
  system market include Adobe Systems Incorporated,
  Alfresco One Software, CGI Group Inc., DocSTAR,
  Dropbox Business, Dokmee, eFileCabinet, Google,
  Ideagen Plc, Lucion Technologies, MasterControl,
  Microsoft Corporation, Oracle Corporation, Zoho
  Corporation. The players are investing in RD to
  develop new technologies that make the solution
  interoperable and easily integrate with other IT
  platforms.

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