Northbrook, IL 60062 -- (SBWIRE) -- 11/30/2023 -- The global Enterprise Content Management Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period, to reach USD 37.7 billion by 2026 from USD 23.6 billion in 2021, according to research report by MarketsandMarkets™.

Key factors that are expected to drive the growth of the market are the rising demand to meet regulatory compliance standards and audit management with improved visibility and control to strengthen corporate information governance, enhance security and optimize business processes with automated workflows and streamline business processes by eliminating repetitive manual tasks. These factors are driving the demand for enterprise content management.

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The enterprise content management market comprises major providers, such as Microsoft (US), OpenText (US), Hyland (US), IBM (US), Laserfiche (US), Box (US), Oracle (US), SAP (Germany), Newgen Software (India), Micro Focus (UK), M-Files (US), iManage (US), Ascend Software (US), DocuWare (US), Xerox (US), Objective Corporation (Australia), KYOCERA Document Solutions (Japan), Fabasoft (Austria), SER Group (Germany), GRM Information Management (US), DOMA Technologies (US), Systemware (US), Adobe (US), Veeva (US), and Atlassian (Australia). The study includes an in-depth competitive analysis of key players in the ECM market with their company profiles, recent developments, COVID-19 developments, and key market strategies.

The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements, partnerships, mergers and acquisitions, have been the most dominating strategies adopted by the major players from 2018 to 2021, which helped them strengthen their offerings and broaden their customer base.

OpenText is an eminent player in information management, helping companies securely capture, govern, and exchange information on a global scale. Its products and solutions offerings include cloud, digital experience, digital process automation, business network, enterprise content management, discovery, security, and AI and analytics. OpenText enterprise content management manages the lifecycle, distribution, and use of information across the organization, from capture through to archiving and disposition. Its ECM software allows organizations to integrate the enterprise processes that produce information with a central content management platform, improving information access, bridging isolated process silos, and ensuring that governance is applied, wherever and however the content is created.

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Hyland is a frontrunner in providing content services to various organizations, which enables them to deliver a better experience. The company has made several strategic acquisitions to deliver better content management solutions and services, some of which include Perceptive, Alfresco, Nuxeo, Acrosoft, AnyDoc Software, SIRE Technologies, CSC, and OneContent. Its automated content management processes simplify access to documents and information, enabling users to quickly and easily locate the information they need to complete tasks, make decisions, and provide excellent customer service.

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