Market analysis firm the Radicati Group recently released findings of its Enterprise Content Management Market study forecasting industry revenue between 2012 and 2016. According to the research, the market is projected to grow from $4.4 billion this year to more than $7.5 billion by the end of the study period.
The Radicati Group noted that the market is expected to undergo growth due to several trends.
“A dramatic rise in the amount of corporate data and information that is being produced has created great demand for solutions capable of controlling and managing this unstructured content,” the report said. “Businesses are also being driven to deploy ECM solutions in order to adhere to corporate governance, regulatory standards and support legal matters.”
Although not as optimistic as the Radicati Group study, a Frost & Sullivan report also indicated the ECM market is poised for significant growth. According to that research, the total ECM ecosystem market is expected to reach nearly $6 billion by 2016.