Frost & Sullivan recently announced that the global enterprise content management market is poised to reach nearly $8 billion by 2017, with revenue surpassing $2.7 billion.
According to the market analysis firm, the ECM industry has matured in recent years and the technology is expected to offer companies improved return on investment, efficiency and innovation.
“Frost & Sullivan defines an ECM as a large-scale, multi-functional, cross-platform content management system, designed to address the complex content management needs of enterprise-level organizations,” the firm’s report stated.
Modern ECM solutions help companies establish a unified platform to share information anywhere with secure access. Such solutions also help businesses deliver their data on a broader scale and improve digital content capabilities throughout the information life cycle, Frost & Sullivan stated.
Research conducted by market intelligence firm TechNavio is even more optimistic about the global ECM market. According to the organization, spending for ECM solutions is projected to reach $9.6 billion by 2014. Key contributors to this trend are the continued adoption of such systems among small and medium-sized businesses and the need for improved collaboration among different business departments.