The increased digitization of corporate assets and the need to fulfill various business productivity tasks are driving the growth of the enterprise content management solutions market, a recent Frost & Sullivan report found.
According to the report, ECM solutions market revenues are expected to hit $1.75 billion by 2016, up from $795 million in 2009. Meanwhile, the ECM ecosystem market is projected to climb to nearly $6 billion in 2016, from $2.1 billion in 2009.
The report states the key elements of ECM solutions include both back-end asset management and a front-end presentation program, along with a “robust” workflow and business process management component.
“ECM solutions offer a unique productivity solution that singular products, components and content management modules cannot,” said Frost & Sullivan Senior Industry Analyst Loren Johnson. “It is the inherent synergistic value of an ECM solution – and its repeatable [return of investment] – that defines the industry and market and the large vendors need to express in the coming years.”
According to Gartner’s Magic Quadrant report released last year, the leading vendors of ECM include IBM, Microsoft, Oracle, EMC and Open Text. Visionary companies include Alfresco and SpringCM.