Houston, TX -- (SBWire) -- 06/26/2018 --The cloud Enterprise Content Management (ECM) market size is expected to grow from USD 9.77 Billion in 2017 to USD 34.42 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 28.6%. The major drivers of this market include the growth in the digital content across enterprises, easier access from remote end-points, need for protection of enterprise data against the disaster, and need for regulatory compliances.
The cloud ECM market report has been broadly classified on the basis of solutions into document management, content management, case management, workflow management, record management, digital asset management, eDiscovery, and others; on the basis of services into professional services, and managed services; on the basis of deployment models into public, private, and hybrid; on the basis of organization sizes into Small and Medium Enterprises (SMEs) and large enterprises; on the basis of verticals into BFSI, education, energy and power, government and public sector, healthcare and life sciences, manufacturing, media and entertainment, retail and consumer goods, telecommunications and ITES, and others; and on the basis of regions into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.

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The document management solution is projected to hold the largest market size and is expected to continue its dominance during the forecast period. There has been a tremendous increase in the volume of documents generated in an enterprise on a daily basis; thus, this increases the need to manage and store the generated data. Moreover, the need to maintain metadata files is increasing due to tremendous rise in organizational content, generated on a daily basis. Metadata files can be instrumental in defining the control and access mechanism of the documents.

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The public deployment model is projected to hold the largest market share in 2017 and is expected to grow during the forecast period. The main reason for the high adoption of public cloud is its ease to access and fast deployment. The public cloud deployment model offers various benefits to the enterprises, such as scalability, reliability, flexibility, and remote location access. The public cloud deployment model is more preferred by the enterprises that have less regulatory hurdles and are willing to outsource their storage facilities either fully or partially. The major concern with public cloud is its data security due to which, many enterprises are shifting to private and hybrid cloud storage solutions.
APAC is expected to be growing at a higher rate in the near future. The increased need to manage consistent data and prompt control and visibility mechanisms has led to a wider demand among enterprises for ECM solutions in the APAC region. Moreover, the sale of ECM solutions is increased due to the rising need for implementing security and accessibility controls; enhanced decision-making has led the APAC region to become a highly potential market.

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