Despite the maturity of the ECM market, CRM magazine”s Desitination CRM reported that the market is thriving.
In the face of a troubled economy, the magazine reported that Gartner Research found that although dropping from double-digit growth from 2004 to 2007, ECM managed to hold onto single-digit growth in 2008, resulting in $3.3 billion in worldwide software license and maintenance revenue.
According to Destination CRM, Gartner”s latest Magic Quadrant for Enterprise Content Management report said that ECM is expected to get a boost by 2011, with predictions exceeding $5.1 billion in worldwide software license revenue by 2013.
The market is "healthy," according to CRM, but it noted that the report said that it is also undergoing a transformation as a result of market consolidation and the prominence of niche players.
"Given that the functional capabilities of the parts are better," said Toby Bell, research vice president and co-author of the report, according to CRM, "it”s a great time to engage in content strategy."
Bell anticipates that the value of ECM will become much more relevant in the enterprise as companies focus on making content more marketable and more easily accessible in a way that can add business value, the article stated.