As the volume of information that companies are expected to handle grows rapidly – especially due to the proliferation of digital media channels, which introduced an entirely new category of content to maintain – the enterprise content management market is expected to continue growing at a rapid pace.

A new study from knowledge economy firm Basex estimated that the U.S. market for enterprise content management will grow from $4.1 billion in 2008 to $10 billion by 2014.

In particular, the landscape of the market is expected to change considerably thanks to the emerging popularity of open source content management solutions, fueled by the growth in the open source software market in general, the study found.

As the market grows, competition will increase in turn, and companies will have a greater variety of enterprise content management solutions to choose from, said Jonathan B. Spira, chief analyst at Basex and a co-author of the report.

A recent study from e-Spirit found that the growth of digital media channels has created a particularly strong demand for enterprise content management, as 65 percent of businesses expressed frustration with the amount of time it takes to manage their websites.