How Has The Document Management System Market Size Evolved In Recent Years?
The document management system market has seen considerable growth due to a variety of factors.
• The market size of the document management system has seen significant expansion over the past few years. There will be an upward surge from $8.96 billion in 2024 to reach $10.15 billion in 2025, reflecting a compound annual growth rate (CAGR) of 13.3%. The historic period's growth is primarily due to the transition from paper to digital documentation, adherence to regulatory norms and record keeping, initiatives towards corporate digital transformation, the inception of document imaging and scanning, and the rise of enterprise content management (ECM) solutions.
What Are The Predictions for The Document Management System Market?
The Document Management System market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipation surrounds the document management system market, with rapid expansion projected in the coming years. The market is estimated to augment to $17.03 billion by 2029, with a compound annual growth rate (CAGR) of 13.8%.
This surge in the forecast period is credited to the increasing adoption in emerging markets and SMEs, attention towards user experience and mobile accessibility, transition to hybrid and cloud-centric models, escalated data security concerns, and growing requirement for remote work solutions. Major trends driving this growth during the forecast period encompass integration with business applications, concentration on remote work and collaboration tools, incorporation of blockchain technology, acceptance of mobile-friendly interfaces, and emphasis on cybersecurity and compliance.
Which Drivers Are Accelerating Growth In The Document Management System Market?
As paperless office practices rise, it is anticipated to fuel the document management systems market's expansion in the future. A paperless office signifies a work environment that relies less on paper-based procedures and more on digital documents to perform regular business activities. Document management systems in these digital offices make the management and storage of electronic files much simpler, permitting employees to easily share and examine digital documents. For example, Eurostat, a government agency from Luxembourg, reported in December 2023 that 42.5% of EU enterprises had procured cloud computing services primarily for email, file preservation, and office software in 2023. There was a 4.2 percentage point increase in the number of businesses using cloud services within the EU. As a result, the rise of paperless offices is predicted to boost the document management systems market's growth.
What Are The Core Segments Of The Global Document Management System Market?
The document management system market covered in this report is segmented –
1) By Offering: Solutions, Services
2) By Deployment Mode: On-Premise, Cloud-Based, Hybrid
3) By Organization: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Application: Banking, Financial Services, And Insurance, Government, Education, Healthcare, Corporate, Industrial Manufacturing, Retail, Other Applications
Subsegments:
1) By Solutions: On-Premises Solutions, Cloud-Based Solutions, Mobile Document Management Solutions
2) By Services: Implementation Services, Consulting Services, Maintenance And Support Services, Training Services
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Which Emerging Trends Are Reshaping The Document Management System Market Size?
Key players in the document management system market are developing advanced tools such as Documents SE, to cater to the requirements of effective management of policies and procedures. Created to aid organizations in managing policies and procedures effectively, Documents SE is an innovative document management tool. In March 2022, ShipNet, a cloud ERP software solutions provider located in Norway for the maritime industry, introduced Documents SE. This new document management tool is intended to help organizations manage policies and procedures, like the ISM Code or OCIMF recommendations, while also ensuring safety and environmental compliance. The tool facilitates efficient management, distribution, and tracking of various policies throughout fleets and offers transparency about the progress and status of documents. The tool enhances user experience with its straightforward search function and adaptable structure, and its alert system keeps users updated on any modifications or tasks. As part of the ShipNet One ecosystem, it provides internet-based accessibility, platform independency, and flawless file handling.
Who Are the Key Players In The Document Management System Market?
Major companies operating in the document management system market include:
• OpenText Corporation
• Xerox Corporation
• Ricoh USA Inc.
• International Business Machines Corporation (IBM)
• Canon Inc.
• eFileCabinet Inc.
• DocuSign Inc.
• Oracle Corporation
• Hyland Software Inc.
• Microsoft Corporation
• Asite Solutions
• M-Files Corporation
• Synergis Technologies LLC
• Atlassian Corporation PLC
• Hewlett-Packard Development Company LP
• FileHold Systems Inc.
• Ecrion Software Inc.
• Dell EMC
• Laserfiche Corporation
• DocuWare GmbH
• Nuance Communications Inc.
• Adobe Inc.
• Box Inc.
• Alfresco Software Inc.
• Ever Team Software
• Nuxeo Ltd.
• Zoho Corporation Private Limited
• Pioneer It Solutions Private Limited
• ELO Digital Office GmbH
• Fabasoft AG
What Are The Regional Insights Into The Document Management System Market?
North America was the largest region in the document management system market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the document management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
