DMS market: Key market research findings
- Growing prevalence of cloud-based DMS solutions
- Increased adoption of SaaS-based DMS solutions
Technavio has added a new report on the global document management systems (DMS) market, to its document management portfolio. The market is expected to reach over US$3 billion by 2019, owing to growing need for improved data handling and content restoration among enterprises. The market has undergone drastic transformations, thanks to the emergence of cloud-based deployment model and increased adoption by SMEs. Need for document management and emergence of paperless office in developed countries has accelerated this market’s growth in recent times.
The new research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
Americas accounts for the largest share in the global DMS market covering around 48% in 2014, closely followed by EMEA and APAC. Majority of DMS demand comes from Americas because of the high adoption of cloud DMS in the region.
Cloud-based DMS has an edge over on-premise DMS deployment model because of the increasing demand for cloud technology and reduction of operational expenditure. Cloud-based DMS helps organizations to adopt fast and profitable solutions without requiring any in-house network or procure expensive servers. Several vendors have initiated delivering DMS solutions of cloud to meet the rising demand from enterprises. Among end-users, the BFSI sector in APAC is witnessing soaring adoption of cloud deployment model.
“Many organizations are implementing SaaS-based DMS model which offers ‘pay-per-use’ technique. SaaS-based model provides cost-effective accessibility and a prototype where DMS can be accessed at any time and in any place by multiple users. It enables organizations to perform activities at lower costs and with minimum setup requirement. It requires very less capital investment in hardware and infrastructure,” says Navin Rajendra, Lead Analyst, IT Hardware, Software, Services, Technavio Research.
The leading players in the global DMS market include EMC, IBM, Microsoft, and Open Text. The market is vast and diverse with the presence of numerous small and large vendors, and is witnessing immense consolidation among the market players for better product portfolios.
A more detailed analysis is available in the Technavio report, Global Document Management: Marketing Research 2015-2019.
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