Document Management System Market size was valued at USD 9.35 billion in 2024 and is likely to cross USD 55.61 billion by 2037, registering more than 14.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of document management system is estimated at USD 10.45 billion. The rising adoption of paperless documents in government organizations and corporate workplaces has recently driven product demand. Digitizing files with a paperless document management system occupies significantly less space, making this among the most significant advantages of going paperless. A paperless document management system can also easily maintain quality documentation, such as standard operating procedures, policies, quality handbooks, CAD files, and design change orders.
The secure and robust presence of leading market players also accelerates the market's growth. The players are more focused on research and development and product launches. For instance, in 2022, Advanced (a software solution company) collaborated with Xperate to integrate cloud-based document management with practice and case management systems.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
14.7% |
|
Base Year Market Size (2024) |
USD 9.35 billion |
|
Forecast Year Market Size (2037) |
USD 55.61 billion |
|
Regional Scope |
|
Offering (Solutions, Services)
Out of the two, the solution segment in the document management system market is estimated to grow at the fastest CAGR over the projected time frame. The market is being driven by an increasing need for solutions that allow organizations to electronically incorporate traditional physical document filing processes. As organizations go farther into the digital arena, the demand for the solutions segment is further expected to increase.
Deployment Mode (Cloud, On-premise, Hybrid)
Out of the all-deployment types, the hybrid segment is estimated to expand at substantial growth rate over the projected time frame. Hybrid cloud platforms enable organizations to cover all of their bases while simplifying processes. It also streamlines invoicing and support services, providing the benefits of both on-premise and cloud deployment modes and perhaps offsetting the risks associated with both ways.
Our in-depth analysis of the global market includes the following segments:
|
Offering |
|
|
Deployment Mode |
|
|
Organization Size |
|
|
Application |
|
North American Market Forecast
North America industry is expected to dominate majority revenue share of 34% by 2037. The North American market for document management systems is growing faster owing to the rising adoption of cloud-hosted document management systems in the region. Cloud-based document management software helps in reducing the total time taken to store and retrieve crucial documents. It further increases productivity. Approximately 94% of the total US enterprise infrastructure, decision-makers are using at least one mode of cloud deployment.
APAC Market Statistics
The Asia Pacific document management system market is anticipated to grow at a hiighest CAGR till 2037. The region's governments have enhanced their adoption of document management systems in an effort to prevent illegal trade and transportation and to keep improving workflow. The increasing need for public-sector organizations to maintain compliance requirements while archiving old information and records in a secure manner is another factor driving market expansion in the region. For instance, in 2022, India-based Cybernetik Technologies Pvt. Ltd. partnered with CloudFront for the deployment of its document management system.
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?