Frost & Sullivan recently released a report regarding the enterprise content management market and revealed that the digitization of content is growing in popularity.
The World Enterprise Content Management Solutions Market report said that the ECM solutions market reached revenues of $795 million in 2009. According to the report, the worldwide ECM ecosystem market reached revenues of $2.1 billion in 2009.
Frost & Sullivan expect the ECM solutions market to reach more than $1.75 billion in 2016, while the total ECM ecosystem market is expected to reach nearly $6 billion.
“With the capabilities of ECM solutions stronger than their component parts, the ECM industry, consumers and companies have started to recognize the inherent value of implementing full ECM solutions,” said Frost & Sullivan senior industry analyst Loren Johnson.
Another form of ECM currently centers around the cloud. According to a report by TechTarget, organizations utilizing a cloud ECM system can meet the demand for large storage amounts, no longer having to worry about internal installations of servers and storage hardware, as well as lifecycle management processes.