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Enterprise Content Management: Data Growth and Compliance Drive Rapid Growth in Market
The ECM (Enterprise Content Management) market is growing faster than 16 percent annually, and is expected to grow from a market size of $31 billion in 2017 to $67 billion in 2022, according to rnrmarketresearch. The driving force for the growth are the demands in enterprises to manage data, comply with regulations, and to mitigate risk.
The ECM market though is currently experiencing some bumpy growth as traditional ECM products and suites are merged and rebranded. The recent acquisition of Documentum by OpenText is one example. Another is the shuffling of IBM’s FileNet product to be part of the Watson project. This is clearly a time for opportunity for stand-alone vendors like Alfresco that are leading the ECM vision.
Gartner predicts that by 2018 we will see the following in the ECM market:
- Half of enterprises using ECM will be using hybrid systems (cloud + on-premise)
- File synchronization and sharing will be a built-in feature of almost all ECM software
- Half of top-brand ECM software vendors will re-architect their software to include cloud capability
- 20 percent of business content will have been generated by machines
