GIA announces the release of a comprehensive global report on Content Management Software market. Driven by the increasing trend towards digitization of content, and leveraging content as a business driver, as well as information retention regulations, the global market for content management software is projected to reach US$12.8 billion by the year 2017. Content management is also gaining prominence in enterprises due to the increasing use of varied types of basic as well as sophisticated content including text, video, audio, and social media content.
Content management is one of the fastest growing segments in the dynamic Information Technology industry. Globalization is playing an important role in the expansion of content management market; owing to internationalization of products, and the resultant demand for translated content. The trend towards simultaneous launch of products around the world presents enormous challenges to organizations in translating content, and keeping all product catalogs up to date. Enterprise content management (ECM) software, comprising a set of software products that facilitate in efficient management of the content’s entire lifecycle, is aimed at extending content governance as well as best practices throughout the entire enterprise. The ECM market has been insulated from the recession owing to the growing complexity and volume of enterprise content. Growth is driven by the need to lower risk, ensure regulatory compliance, improve productivity of information worker, and enhance cost-effectiveness of various document-centric business processes.
Enterprise software spending continued to rise as companies sought to capitalize on the capabilities of the Web to strengthen customer relationships, build brand and increase revenues. The market is presently registering steady growth with maximum opportunities emerging from Europe, Asia, Middle East and Africa regions. The growing competition from open source vendors or suite vendors is also driving growth in ECM market, while the need to manage risks pertaining to unmanaged digital and paper content is encouraging enterprises to focus on content governance and valuation. Opportunities also exist for organizations to either rationalize or consolidate overlapping as well as high cost components of enterprise content architectures.
As stated by the new market research report on Content Management Software, the US continues to remain the largest regional market. Various regulations on retention of information have been driving the market for content management software in the US. The increasing trend among organizations to leverage information for revenue generation, and synchronize business processes is expected to drive demand for content management software in the US. Asia-Pacific represents the fastest growing regional market displaying a CAGR of about 15% over the analysis period. Several organizations in the region are increasingly focusing efforts on assessing the role of content management as a solution, as against a point product. In Asia-Pacific, Australia and Korea are the leading markets in the content management software market, while China and India are among the faster growing regions. The region’s content management market is expected to witness high growth in the near future, deriving growth from organizations’ focus on improved operational efficiencies through automation of document and paper-based business processes, and workflow-enabled content management. Compliance mandates including Basel II and Sarbanes-Oxley Act are expected to continue driving growth in the content management software market.
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