Market Research Report

Global Document Management Software Technology Market Research Report: Forecast (2024-2030)

By Component (Software, Services [Managed Services, Professional Services]), By Deployment (Cloud, On-Premise), By Enterprise Size (Small and Medium-Sized Enterprises, Large Enterp...rises), By End-User (Banking & Financial Services [BFSI], IT & Telecommunication, Manufacturing, Government, Healthcare, Retail, Others), By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific), By Company (M-Files, Microsoft Corporation, International Business Machines Corporation (IBM), Oracle Corporation, Open Text Corporation, Hyland Software, Inc., Agiloft Inc., Docusign, Inc., Xerox Corporation, Newgen Software Technologies Ltd., DocPoint Solutions., Ideagen, MasterControl Solutions, Inc., Iron Mountain Incorporated., Konica Minolta Business Solutions U.S.A., Inc.) Read more

  • ICT & Electronics
  • Oct 2023
  • 193
  • PDF, Excel, PPT

Market Definition

Document Management Software Technology efficiently organizes, stores, and oversees extensive document collections, enabling seamless access and document tracking. This technology also mitigates the cumbersome and time-consuming aspects of manual document management.

Market Insights & Analysis: Global Document Management Software Technology Market (2024-30):

The Global Document Management Software Technology Market size is estimated to grow at a CAGR of around 14.1% during the forecast period, i.e., 2024-30. In recent years, the major factors that have been driving the demand for document management software technology included the growth of corporate offices in IT and BFSI sectors, in countries such as India, Japan, Saudi Arabia, and UAE, etc.

In recent years, the GCC and APAC region has emerged as the preferred destination for establishing data centers. This was due to the constant push by the governments in countries such as the UAE, Qatar, Saudi Arabia, India, South Korea, etc., to establish their country as the digital hub and boost the development of data center facilities to store government-specified data effectively. This has also led companies like NTT, Sentinel, etc., to announce their expansion program across different countries in the coming years.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030) 14.1%
Regions Covered North America: US, Canada, Mexico
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Australia, Singapore, Rest of Asia-Pacific
South America: Brazil, Rest of South America
Middle East & Africa: UAE, Saudi Arabia, South Africa, Egypt, Rest of MEA
Key Companies Profiled M-Files, Microsoft Corporation, International Business Machines Corporation (IBM), Oracle Corporation, Open Text Corporation, Hyland Software, Inc., Agiloft Inc., Docusign, Inc., Xerox Corporation, Newgen Software Technologies Ltd., DocPoint Solutions., Ideagen, MasterControl Solutions, Inc., Iron Mountain Incorporated., Konica Minolta Business Solutions U.S.A., Inc.
Unit Denominations USD Million/Billion

 

Hence, as these data centers ramp up their presence across the globe, the demand for document management software would also accelerate to allow them to reduce the manual workforce required for paper-based documentation. Further, as a large number of corporate and government offices are planning to go paperless, the demand for document management software technology is projected to amplify in the coming years.

Global Document Management Software Technology Market Driver:

Expansion of Educational Centres to Ramp up the Demand for Document Management Software Technology – The growth of government expenditure in education sector, especially in UAE and UK, has been consistently supporting the expansion of educational centers. Also, as the number of international students arriving in countries like the UK, the US, Germany, etc., has been increasing, the educational sector across these countries witnessed continuous growth. This has been primarily attributed to the allocation of a significant amount of funds for the establishment of educational centers.


Global Document Management Software Technology Market Research Report: Forecast (2024-2030)

Thus leading towards establishment of several new schools and colleges across the globe. Consequently, these institutes would require document management software technology, especially across their administration offices to manage large volumes of documentation required. Also, as the demand for virtual learning is gaining significant popularity in recent years, the demand for document management software technology is further projected to amplify in the coming years. Document management solutions would play a pivotal role in the management and delivery of comprehensive online learning and training solutions.

Global Document Management Software Technology Market Challenge:

Rising Data Privacy Concerns to Affect the Market Growth – Owing to the issues related to the reliability of software solutions, several sectors like IT, and healthcare among others have been found to be hesitant in the adoption of document management software technology. The major concern linked to its adoption included increasing data breach cases globally. Also, as companies use document management software to store their necessary documents, their breaches have resulted in the leak of essential financial and security data. For instance,

  • In 2022, according to the Health Sector Cybersecurity Coordination Center, the number of ransomware attacks across healthcare Health Promoting hospitals in the US increased from 560 in 2020 to 1203 in 2021 across the US.

Hence, cyber security attacks have been increasing significantly over the past few years, and the ransom demand has also been growing in parallel. Therefore, the increasing data breach efforts have led to preventing the adoption of document management solutions, which is projected to continue as a challenge for the market in the coming years as well.

Global Document Management Software Technology Market Trend:

Development of Sector-Specific Document Management Solutions Gaining Traction – In recent years, as different sectors across the globe have been adopting document management solutions, companies have started focusing on the development of sector-specific document management solutions. Companies in the market have been focussing on offering tailored document management solutions for the unique requirements of different industries. For instance,

  • In 2022, Filevine unveiled “.vine”, a specialized document format for legal drafting, enhancing efficiency and precision through the Filevine Document Assembly tool. This innovation streamlines the creation of legal documents, replacing traditional word processors like Microsoft Word and Google Docs.

These solutions are designed as per the type of data and documents across different sectors like Legal, Healthcare, etc. The sector-specific document management solutions have gained significant traction among consumers over recent years, as they allow them to efficiently manage all their documents. Also, as companies are focussing on the advancement of their document management solutions through integrating enhancements required by the consumers, it would further drive their demand in the coming years as well.

Global Document Management Software Technology Market (2024-30): Segmentation Analysis

The Global Document Management Software Technology Market study of MarkNtel Advisors evaluates & highlights the major trends. & influencing factors in each segment. It includes predictions for the period 2024-2030 at the global level. As per the analysis, the market has been further classified as:

Based on End Users:

  • Banking, Financial Services and Insurance (BFSI)
  • IT & Telecommunication
  • Manufacturing
  • Government
  • Healthcare
  • Retail
  • Others (Real Estate, Hospitality, etc.)

Among them, the Banking, Financial Services and Insurance (BFSI) have been dominating the Global Document Management Software Technology Market. This has been majorly attributed to the rise of fintech companies across the countries like Saudi Arabia, the UAE, Australia, etc. For instance,

  • In Nov 2022, according to the US-Saudi Business Council, Saudi Arabia witnessed a 79% YoY increase in the number of Fintech firms.

Hence, as Fintech firms offer solutions, such as online payment platforms, mobile banking, and digital wallets, it pushed traditional financial institutions to adopt solutions such as document management technology to manage and automate financial processes effectively.

Global Document Management Software Technology Industry Recent Development:

  • 2023: Financial Cents, a cloud-based accounting practice management software provider, has launched a ChatGPT integration. Initially, users can create workflow templates, with more features planned, including AI-powered email templates, client request lists, and document management.
  • 2022: Synergis Technologies has unveiled Adept FALL '22, which is a brand-new visualization and markup solution with support for the latest CAD application versions and other enhancements. The new Adept Viewer aims to enhance the user experience, performance, and support for CAD software, transforming the way documents and data are viewed and managed.

Gain a Competitive Edge with Our Global Document Management Software Technology Market Report

  • Global Document Management Software Technology Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps business organizations to gain a holistic understanding of the market dynamics & make informed decisions.
  • This report also highlights current market trends & future projections, allowing business organizations to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  • Global Document Management Software Technology Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, business organizations can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The Document Management Software Technology Market is expected to grow at a compound annual growth rate (CAGR) of 14.1% from 2024 to 2030.

   A. The expansion of educational centers is expected to drive the Document Management Software Technology Market during 2024-2030.

   A. The top players in the Document Management Software Technology Market are M-Files, Microsoft Corporation, International Business Machines Corporation (IBM), Oracle Corporation, Open Text Corporation, Hyland Software, Inc., Agiloft Inc., Docusign, Inc., Xerox Corporation, Newgen Software Technologies Ltd., DocPoint Solutions, Ideagen, MasterControl Solutions, Inc., Synergis Technologies, Financial Cents, LLC. And others.

   A. The development of sector-specific document management solutions is the key trend shaping the growth of the Document Management Software Technology Market.

Global Document Management Software Technology Market Research Report (2024-2030) - Table of Contents

 

  1. Market Segmentation
  2. Introduction
    1. Component Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Document Management Software Technology Market Trends & Developments
  5. Global Document Management Software Technology Market Dynamics
    1. Drivers
    2. Challenges
  6. Global Document Management Software Technology Market Hotspot and Opportunities
  7. Global Document Management Software Technology Market Regulations, Policies & Component Standards
  8. Global Document Management Software Technology Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Size & Analysis
      1. By Component
        1. Software- Market Size & Forecast 2019-2030, (USD Million)
        2. Services - Market Size & Forecast 2019-2030, (USD Million)
          1. Managed Services- Market Size & Forecast 2019-2030, (USD Million)
          2. Professional Services - Market Size & Forecast 2019-2030, (USD Million)
      2. By Deployment
        1. Cloud- Market Size & Forecast 2019-2030, (USD Million)
        2. On-Premise- Market Size & Forecast 2019-2030, (USD Million)
      3. By Enterprise Size
        1. Small and Medium-Sized Enterprises- Market Size & Forecast 2019-2030, (USD Million)
        2. Large Enterprises- Market Size & Forecast 2019-2030, (USD Million)
      4. By End-User
        1. Banking, Financial Services and Insurance (BFSI) - Market Size & Forecast 2019-2030, (USD Million)
        2. IT & Telecommunication- Market Size & Forecast 2019-2030, (USD Million)
        3. Manufacturing - Market Size & Forecast 2019-2030, (USD Million)
        4. Government- Market Size & Forecast 2019-2030, (USD Million)
        5. Healthcare- Market Size & Forecast 2019-2030, (USD Million)
        6. Retail- Market Size & Forecast 2019-2030, (USD Million)
        7. Others (Real Estate, Hospitality, etc.) - Market Size & Forecast 2019-2030, (USD Million)
      5. By Region
        1. North America
        2. South America
        3. Europe
        4. The Middle East & Africa
        5. Asia-Pacific
      6. By Competition
        1. Competition Characteristics
        2. Market Share & Analysis
  9. North America Document Management Software Technology Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2019-2030, USD Million
      2. By Deployment- Market Size & Forecast 2019-2030, USD Million
      3. By Enterprise Size- Market Size & Forecast 2019-2030, USD Million
      4. By End-User- Market Size & Forecast 2019-2030, USD Million
      5. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User- Market Size & Forecast 2019-2030, USD Million
    4. Canada Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
    5. Mexico Document Management Software Technology Market Outlook, 2019-2030F
      1. By Component- Market Size & Forecast 2019-2030, USD Million
      2. By End User - Market Size & Forecast 2019-2030, USD Million
  10. South America Document Management Software Technology Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2019-2030, USD Million
      2. By Deployment- Market Size & Forecast 2019-2030, USD Million
      3. By Enterprise Size- Market Size & Forecast 2019-2030, USD Million
      4. By End-User- Market Size & Forecast 2019-2030, USD Million
      5. By Country
        1. Brazil
        2. Rest of South America
    3. Brazil Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
  11. Europe Document Management Software Technology Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2019-2030, USD Million
      2. By Deployment- Market Size & Forecast 2019-2030, USD Million
      3. By Enterprise Size- Market Size & Forecast 2019-2030, USD Million
      4. By End-User- Market Size & Forecast 2019-2030, USD Million
      5. By Country
        1. Germany
        2. The UK
        3. France
        4. Spain
        5. Italy
        6. Rest of Europe
    3. Germany Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
    4. The UK Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
    5. France Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
    6. Spain Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
    7. Italy Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
  12. The Middle East & Africa Document Management Software Technology Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2019-2030, USD Million
      2. By Deployment- Market Size & Forecast 2019-2030, USD Million
      3. By Enterprise Size- Market Size & Forecast 2019-2030, USD Million
      4. By End-User- Market Size & Forecast 2019-2030, USD Million
      5. By Country
        1. The UAE
        2. Saudi Arabia
        3. Egypt
        4. South Africa
        5. Rest of Middle East & Africa
    3. The UAE Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
    4. Saudi Arabia Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
    5. Egypt Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
    6. South Africa Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
  13. Asia-Pacific Document Management Software Technology Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2019-2030, USD Million
      2. By Deployment- Market Size & Forecast 2019-2030, USD Million
      3. By Enterprise Size- Market Size & Forecast 2019-2030, USD Million
      4. By End-User- Market Size & Forecast 2019-2030, USD Million
      5. By Country
        1. China
        2. Japan
        3. India
        4. South Korea
        5. Australia
        6. Singapore
        7. Rest of Asia Pacific
    3. China Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
    4. Japan Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
    5. India Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
    6. South Korea Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
    7. Australia Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
    8. Singapore Document Management Software Technology Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030, USD Million
        2. By End User - Market Size & Forecast 2019-2030, USD Million
  14. Global Document Management Software Technology Market Key Strategic Imperatives for Success & Growth
  15. Competitive Outlook
    1. Company Profiles 
      1. M-Files
        1. Business Description
        2. Component Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Microsoft Corporation
        1. Business Description
        2. Component Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. International Business Machines Corporation (IBM)
        1. Business Description
        2. Component Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Oracle Corporation
        1. Business Description
        2. Component Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Open Text Corporation
        1. Business Description
        2. Component Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Hyland Software, Inc.
        1. Business Description
        2. Component Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Agiloft Inc.
        1. Business Description
        2. Component Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Docusign, Inc.
        1. Business Description
        2. Component Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Xerox Corporation
        1. Business Description
        2. Component Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Newgen Software Technologies Ltd.
        1. Business Description
        2. Component Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. DocPoint Solutions.
        1. Business Description
        2. Component Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      12. Ideagen
        1. Business Description
        2. Component Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      13. MasterControl Solutions, Inc.
        1. Business Description
        2. Component Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      14. Iron Mountain Incorporated.
        1. Business Description
        2. Component Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      15. Konica Minolta Business Solutions U.S.A., Inc.
        1. Business Description
        2. Component Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      16. Others
  16. Disclaimer


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