Enterprise content management systems are witnessing increased adoption in the developed and the developing regions, owing to technological innovations in product offerings, rise in need to improve performance & operational efficiency, surge in demand for analytical solutions, and increase in application areas among end users. Furthermore, factors such as growth associated with IoT, increase in use of digital content management, and rise in demand for enterprise information management are expected to provide numerous growth opportunities. However, dearth of trained professionals is expected to restrict the growth of the market during the forecast period.

Key industry players such as – Microsoft Corporation, Oracle Corporation, Hyland Software, Inc., Xerox Corporation, OpenText Corporation, Alfresco Software, Inc., Lexmark International, Inc., M-Files Inc., Adobe Systems Incorporated, and Fabasoft.

The global enterprise content management system market was valued at $28,165 million in 2016, and is projected to reach at $94,094 million by 2023, growing at a CAGR of 19.2% from 2017 to 2023.

The cloud segment dominated the enterprise content management system market in 2016, with around 73% revenue share. This is attributed to the improved IT infrastructure and increased cloud-related expenditures.

The BFSI segment dominated the global enterprise content management system market, with around 22% share in 2016, followed by BFSI segment. Furthermore, IT & telecom sector segment is estimated to grow at the highest CAGR of 21.7%, owing to widespread adoption of advanced solutions and increased IT spending.

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North America was the highest revenue contributor in 2016, accounting for around 42% share. Asia-Pacific is projected to grow at the highest CAGR of 23.1% during the forecast period.

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