Enterprise Content Management System Market incorporates a comprehensive range of services and solutions & techniques, which store, capture, manage, and preserve the data that is utilized to optimize the business workflow. End-use industries such as aerospace & defense, IT & telecom, energy & utilities, public sector, manufacturing, BFSI, healthcare, and retail use enterprise content management solutions for informed decision-making.
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Increase in in IT expenditure in the emerging nations and technological advancements for workflow optimization fuel the demand for advanced analytical solutions, thereby driving the enterprise content management system market growth. In addition, rise in penetration of cloud-based enterprise content management system, rise in need for digital content with the proliferation of online marketing & online customer relationship boost the market growth.
However, dearth of trained professionals is expected to restrain the enterprise content management system market growth during the forecast period.
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The global enterprise content management system market is influenced by several factors that include growth in need for digital content with the proliferation of online marketing & online customer relationship, development of the e-commerce market, increase in adoption of cloud-based enterprise content management system, high initial costs of implementation, and lack of awareness to implement the right solution for specific needs among SMEs. All these factors collectively provide opportunities for enterprise content management system market growth.
However, each factor is expected to have its definite impact on the ECM market share.
Presently, dearth of skilled workforce has significantly impacted the market growth, which limits end users to invest into advanced solutions and services. However, by 2023, the impact is projected to decrease due to availability of trained professionals.
The developing countries possess high growth potential for the enterprise content management system market, owing to a low adoption base and developing infrastructure. Furthermore, the need for cost-effective information management solutions among end-use industries is expected to fuel the demand for ECM systems.
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