Document Management System Report 2023: Industry Size, Share, Growth & Forecast till 2028

Presently, rising concerns for data security and compliance represent one of the major factors contributing to the market growth.

SHERIDAN, WYOMING, UNITED STATES, August 2, 2023/EINPresswire.com/ -- What is Document Management System?

A document management system (DMS) is a specialized software solution that is designed to efficiently organize, store, track, and manage electronic documents and files in a business environment. It enables companies to transition from paper-based document handling to a streamlined digital approach. It offers various features, such as document capture, indexing, version control, search functionality, and permission-based access. It reduces manual document handling, eliminate redundancies, ensure regulatory compliance, and enhance productivity across various departments. Besides this, it assists in improving overall document accessibility, security, and collaboration.

How big is the Document Management System Market?

The global document management system market size reached US$ 7.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.3 Billion by 2028, exhibiting a growth rate (CAGR) of 11.2% during 2023-2028.

Global Document Management System Market Trends and Drivers:

Presently, rising concerns for data security and compliance represent one of the major factors contributing to the market growth. Besides this, the growing demand for centralized and cloud-based document storage among business organizations is offering a positive market outlook. Moreover, the increasing emergence of advanced technologies, such as artificial intelligence (AI) and machine learning (ML) in DMS, to automate metadata extraction, enhance productivity gains, and improve decision-making efficiency is supporting the growth of the market. Apart from this, the rising demand for DMS among businesses for handling electronic documents, such as contracts, invoices, and reports to emails and multimedia files, is bolstering the growth of the market. Furthermore, the increasing adoption of DMS, as they reduce paper consumption and printing costs, is strengthening the growth of the market.

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Global Document Management System Market 2023-2028 Analysis and Segmentation:

Top Key Players covered in this report are:

• Agiloft Inc.
• DocuSign Inc.
• eFileCabinet
• Hyland Software
• International Business Machines Corporation
• OpenText Corporation
• Oracle Corporation
• Ricoh Company Ltd.
• Scrypt Inc.
• Synergis Technologies LLC
• Xerox Holdings Corporation
• Zoho Corporation

The report segmented the market on the basis of region, offering, deployment mode, organization and application.

Breakup by Offering:

• Services
• Solution

Breakup by Deployment Mode:

• On-premises
• Cloud-based

Breakup by Organization:

• Small and Medium-sized Enterprises
• Large Enterprises

Breakup by Application:

• BFSI
• IT and Telecommunication
• Government
• Healthcare
• Retail
• Manufacturing
• Others

Breakup By Regions:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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IMARC Services Private Limited
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