Global Market Size, Forecast, and Trend Highlights Over 2025-2037
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.
Document Management System Sector: Growth Drivers and Challenges
Growth Drivers
- Growing Need to Improve Business Operations in Enterprises – Various organizations are incorporating document management procedures to acquire insight and control over documents and data entering and exiting the firms. Organizations want to ensure that all employees have access to the most recent and up-to-date versions of the document management system, which would allow users to work with little hassle or back-and-forth emailing, regardless of whether they are working remotely or in the office.
- Increasing Adoption of Big Data Management and Analytics – The quantity of data in the world is expanding at a rapid rate. 64.2 zettabytes of data were produced in 2020, which is 314 times higher than in 2015. A big part of this output is "data emission," which is passively gathered information from daily interactions with digital services or products like mobile phones, credit cards, and social networks. The rising implementation of big data management and tools for data management and analysis increases the document management system market's growth.
- Growing Cloud Computing and Software-As-A-Service Implementation– For cloud computing and software implementation in document management systems, firms are adopting various strategies. For Instance, in 2021, as part of the Cloud Editions (CE) 21.4 launch at OpenText World, Open Text Corporation unveiled the most detailed update to the OpenText Content Cloud to date. OpenText Core Content is a comprehensive SaaS content services platform. The platform is further expected to have profound integrations with Salesforce and Microsoft 365. This is the highlight of the release. The OpenText Content Cloud attaches enterprise-wide data to the individuals and systems that require it.
Challenges
- Integration of Document Management Systems with Internal Applications Incurs High Costs- The average prices of the most popular document management systems can vary significantly based on the number of consumers, the features required, the installation fees, and the system's type (cloud-based, on-premises, or hybrid). In addition to the price of the software itself, the costs of system upkeep and installation must also be considered. Even though the preliminary cost of the software may be low, there are frequently additional costs to consider. Numerous of these price barriers contribute to the market's slowing expansion.
- Growing Data Privacy Concerns Associated with Document Management Systems
- Issues Related to the Technology
Document Management System Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
14.7% |
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Base Year Market Size (2024) |
USD 9.35 billion |
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Forecast Year Market Size (2037) |
USD 55.61 billion |
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Regional Scope |
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Document Management System Segmentation
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:
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Offering |
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Deployment Mode |
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Organization Size |
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Application |
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Customize this ReportDocument Management System Industry - Regional Synopsis
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.
Companies Dominating the Document Management System Landscape
- IBM Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Microsoft
- Oracle Corporation
- Open Text Corporation
- Xerox Corporation
- Cannon
- Hyland Software, Inc.
- Ricoh USA, Inc.
- M-Files
- eFileCabinet, Inc.
- FUJITSU
- Mitsubishi Logistics Corporation
- BE ONE SOLUTION
- FUJIFILM Business Innovation Co., Ltd
In the News
- Oracle Corporation and HSBC announced a strategic partnership aimed to accelerate the bank’s digital transformation. Under the multi-year agreement, HSBC will upgrade and migrate select database systems to Oracle Exadata Cloud@Customer, a cloud platform delivered as a managed infrastructure service in HSBC’s own data centers.
- Ricoh USA, Inc. introduced RICOH Claims Management Services, an intent-integrated service that addresses a significant obstacle for insurance providers: accelerating claims resolution to boost retention and satisfaction with clients.
Author Credits: Abhishek Verma
- Report ID: 5107
- Published Date: Nov 15, 2024
- Report Format: PDF, PPT
