Document Management System Market Growth Analysis, Outlook by – Trends, Opportunities and Forecast | Dell EMC, IBM Corporation, Microsoft Corporation, Oracle Corporation

The global document management system market size was US$ 5.9 billion in 2021. The global document management system market is forecast to grow to US$ 15.94 billion by 2030 by registering a compound annual growth rate (CAGR) of 11.9% during the forecast period from 2022 to 2030.

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The document management system is deployed to manage, store, and track electronic documents. These systems coordinate the retrieval, processing, printing, storage, routing, and dissemination of electronic documents. It also addresses document generation and updating.

Factors Influencing the Market

The document management system (DMS) market is growing due to the benefits of the systems. DMS systems enhance workplace efficiency and eliminate the need to pile up massive paper files. In addition, the document management solution offers comprehensive data recovery tools and techniques, which is difficult in traditional ways. Thus, it is driving the growth of the global document management system market.

The document management system industry’s growth has been fueled by a growing emphasis of firms towards adopting digital solutions. It helps firms handle medical data and adhere to the Health Insurance Portability and Accountability Act (HIPAA) regulations.

The increasing adoption of the document management system (DMS) in the healthcare segment will benefit the market. Healthcare bodies have to handle massive data. Thus, it can be collected through contrasting internal IT systems, databases, and forms. Moreover, it also reduces the risk of misplacing necessary documentation. Thus, the demand for the document management system (DMS) will increase in the healthcare segment due to these beneficial aspects.

The launch of new capabilities is forecast to benefit the overall document management system industry. In March 2020, Hyland launched new capabilities to its Document Filters product offering. Moreover, in February 2020, Agiloft unveiled the addition of its new Agiloft AI Engine, with AI capabilities for contract management. Thus, more such advancements will drive the document management system market forward during the study period.

COVID-19 Impact Analysis

The COVID-19 pandemic had a mild impact on the global document management system market. The healthcare segment witnessed an abrupt burden due to rapidly rising cases of COVID-19. Thus, hospitals and clinics started deploying document management systems to offer efficient services to the patients.

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Regional Analysis

North America will dominate the document management systems industry in terms of revenue. It is attributed to the advanced infrastructure of the region. Furthermore, the growing digitalization and increasing penetration of advanced solutions will contribute to the growth of the market.

Over the projected period, the Asia-Pacific market for document management systems is forecast to develop at the fastest rate. It is attributed to the increasing IT and business process infrastructure advancements, which are likely to enhance demand for document management systems.

Competitors in the Market

Dell EMC
IBM Corporation
Microsoft Corporation
Oracle Corporation
HP Inc.
Other Prominent Players
Market Segmentation

Based on deployment, the document management system market is segmented into

On-premise DMS
Cloud-based DMS
Based on enterprise size, the document management system market is segmented into

Small Sized
Medium Sized
Large Sized
Based on end-user, the document management system market is segmented into

Government
Healthcare
Banking
Others
Based on region, the document management system market is segmented into

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North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

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What is the key information extracted from the report?

• Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
• The report offers the present scenario and future growth prospects Market in various geographical regions.
• The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
• The SWOT analysis is conducted along with Porter’s Five Force analysis.
• The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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