What is Electronic Document Management Systems Market?
An Electronic document management system is the system which is used to store, manage, and retrieve documents for authorized users. It often provides search functionality, mobile document access, document distribution, and editing functionality. With the access determined by the IT, the user can make sure that no one is editing the document. Also, the invoice and HR policy can be created, edited, approved, and stored all in the same place. Moreover, the system saves time, gives visibility and provides security.
The market study is being classified, by Application (Government, Medical, Corporate and BFSI) and major geographies with country level break-up.
Google (United States), Microsoft Corporation (United States), Adobe Systems Incorporated (United States), Agiloft Inc. (United States), Alfresco One Software (United States), CGI Group Inc. (Canada), DocSTAR (United States), Dropbox Business (United States), eFileCabinet (United States) and FileHold (Canada) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Hyland Software (United States), Lucion Technologies (United States) and MasterControl (United States).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Electronic Document Management Systems market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Electronic Document Management Systems market by Type, Application and Region.
On the basis of geography, the market of Electronic Document Management Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Stringent Regulatory Framework in United States
- Demand for Cloud Services in United Kingdom
- Penetration of SaaS Based Solution
- High Costs Associated with Implementation
- Increasing Digitisation in Emerging Economies
- Rising Demand from Government Institutions
- Concerns Related Data Security
Market Leaders and some development strategies
On November 2020, WolfePak Software has acquired DocVue which is a provider of imaging, document management and workflow software. It will operate as a standalone product division of WolfePak Software.
On June 2019, Kodak has launched block chain embedded document management system. It relies on block chain to provide efficiency and security, according to the company. The company claims that the block chain platform will lead to 20-40% cost savings through automated workflows and decreased human management of content, information, and documents.
Key Target AudienceSolutions Providers, Government associations, Research organisations, Software vendors and Others
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