Cloud Enterprise Content Management Market Size, Share & Industry Analysis, By Solution (Digital Asset Management, Workflow Management, Record Management, Content Management), By Services (Professional Services, Managed Services) By Deployment (Public Cloud, Private Cloud, Hybrid Cloud), By End User (BFSI, IT & Telecommunication, Retail) And Regional Forecast, 2024-2032

Cloud enterprise content management is a solution that enables enterprise to take full advantage of company knowledge and customer information embedded in its content using cloud. The solution automates, analyze, activate, store, and capture business content, providing new values from unstructured data. Further, these solutions help enterprises to engage customers, enhance collaboration and automate business processes much faster.

In addition, enterprises these days are generating large amount of data that is associated with business operations, this data needs to secured and managed thus enterprise are adopting cloud enterprise content management. Further, trends such as enterprise mobility and wearables are driving the growth of the market.

The outbreak of COVID 19 has positive impact on cloud enterprise content management market. As due to the outbreak of COVID 19 enterprises switched to remote work environment that created new barriers for enterprises across the globe. Using cloud enterprise content management enterprise can come across these barriers and provide access to enterprises regardless of their location and work with efficiency, security and simplify the business information.

Key Players Covered:

Major players offering cloud enterprise content management solutions and services are IBM Corporation, Oracle Corporation, Microsoft Corporation, Xerox Corporation, Hewlett Packard Enterprise, SER Group, OpenText Corporation, Objective Corporation, Nuxeo, Newgen Software Inc., Micro Strategies Inc., Alfresco Software Inc., ASG Technologies, Docuware, Box Inc., Epicor Software Corporation and Fabsoft Software Inc., among others.

Key vendors are adopting various strategies such as collaboration, acquisitions, new product launch, product enhancement, mergers and partnership to enhance their market presence. For instance, in June 2019, Microsoft Corporation partnered with Oracle Corporation to provide customers to migrate and run enterprise workloads across Oracle Clouds and Microsoft Azure. This partnership will further deliver highly optimized best of both cloud experience.

Regional Analysis:  

North America is anticipated to have significant market growth due the rapid technological advancement in content management. Further, the high internet penetration is also among the major reason for the growth of the cloud enterprise content management market.

Asia pacific is expected to grow at the highest growth rate. The region is witnessing increasing need to manage visibility mechanism, prompt control and consistent data has led to high demand for cloud enterprise content management solutions. Further, the rising need of accessibility controls and implementing security for enhanced decision making is fueling the growth of cloud enterprise content management market.

Europe is anticipated to have significant growth in cloud enterprise content management market due to the rapid industrialization coupled with advance technology that is creating lucrative growth opportunity for the expansion of cloud enterprise content management and is further fueling the market growth. Whereas, Middle East and Africa to have to have significant growth in coming years owing to increasing need of IT services and increasing preference of cloud companies in the region.

Segmentation

Key Industry Developments

• January 2019 – Alfresco Software Inc., partnered with Tech Mahindra for the development of new framework that is built on Alfresco Digital Business Platform. This partnership will further allow customers to meet the digital needs by simplyfing review, sharing, access, and content creation.


• February 2020 – Xerox Corporation launched virtual print management service and workplace cloud fleet management to accelerate and support the digital transformation in IT clients. With the launch enterprises can replace their on premise print service Xerox’s secure cloud infrastructure.


• April 2021 – OpenText Corporation launched OpenText Core Case Management and OpenText Core Content, these platform will allow enterprise to power modern work in the cloud.


• June 2021 – Hewlett Packard Enterprise extends hybrid cloud with HPE GreenLake edge to cloud platform. This would provide companies with productivity, simplicity and agility at lower cost.