The growing inclination towards cloud-based ECM solutions is likely to create ample opportunities for the growth of the market. The enterprises are aimed to deploy cloud-based solutions owing to various benefits offered by cloud-based deployments such as enhanced collaboration, scalability, and cost-efficiency. The deployment of cloud-based ECM solutions aids in better focus on the core competencies, instead of focusing on their IT processes to the small, medium and large enterprises. Thus encourages the demand of Cloud ECM solutions in SMEs. Besides, ECM cloud-based solutions allow easy management, as it does not require any manual upgradations and installation of novel features. It also allows the users to easily carry out updates frequently for the improvement in software stability. Moreover, when compared with the on-premises ECM solutions, cloud-based ECM solutions are great for data security concerns. Thus, cloud-based solutions make it easier for enterprises to gain business intelligence and enhance the use and value of enterprise content thus propels the demand of ECM.
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Increasing enterprise content further propels the ECM market
A significant rise in enterprise content has been contributing to the adoption of ECM solutions across industries, such as retail, logistics, manufacturing, and government. With the growing digitalization across the globe, enterprise content is on a continuous rise. According to the World Economic Forum, in February 2017, more than 3 billion people were connected to the internet compared to just 2.3 million in 1990. These 3 billion people have been generating content every second, which has led to the growth of ECM solutions. There is a potential connection between robust content management strategy and companies’ financial performance. This enables businesses to reach the market faster with products and services that are efficiently associated with customer needs. ECM comprises the method of analysing, gathering, and organizing, large sets of content to find useful information. It can aid businesses to effectively understand the information contained in the stored content and enables to identify the most essential data for taking business decisions.
ECM assists retailers to acquire product-related on tent by analysing customer’s behavior, choices, and preferences. Thus, large amount of content in retail and e-commerce will contribute to the growth of the ECM market. Additionally, ECM allows organizations to get to know their customers and understand the customer and company relationship better. By eliminating the gaps and disconnects in their marketing strategies, which leads to better engagement through more personalized campaigns and communication. Further, back office service reports along with behavioral analysis are utilized to find out people are interacting with what kind of services. For instance, a customer chooses to cancel a subscription, without giving a reason. However, by using associated content, organizations may be able to review the experience the customer had, thus creating significant demand of ECM in retail and e-commerce that further propels the market growth.
Global ECM Market Segmentation
By deployment
By Industry
Global ECM Market – Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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