The European ECM market is estimated to grow significantly during the forecast period. The rising trend towards cloud-based ECM solutions by enterprises is one of the major factors encouraging the growth of the market. Large storage space and proper management are required to store the commercial data generated by large as well as small & medium-sized enterprises. Cloud-based ECM can provide a solution as the data is stored on servers. Further, with the growing large amount of unstructured data generated through IoT, many enterprises have shifted their data to cloud storage by choosing cloud-based ECM solutions. As per the Eurostat, around 26% of the European Union enterprises used cloud computing in 2018 as compared to 21% in 2016. Thus, the growing unstructured data coupled with cloud-based ECM adoption mainly driving the market growth in the region.
The European ECM market is segmented on the basis of deployment and industry. Based on the deployment, the market is further classified into cloud-based and on-premises. The on-premises segment is projected to have a considerable share in the European market. BFSI, government and defense, manufacturing, transportation, and logistics industry mostly prefer on-premise ECM solutions as this solution is more customizable as compared to cloud-based ECM, thus, it fulfills the requirements of all end-users.
Based on the industry, the European ECM market is further segmented into BFSI, manufacturing, healthcare, government, IT & telecom, retail & e-commerce, and others. The IT & telecom segment is estimated to grow at a considerable CAGR during the forecast period. Based on geography, the European ECM market is further segregated into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Among, geography the UK is projected to have a considerable share in the European ECM market.
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European Enterprise Content Management (ECM) Market Segmentation
By Business Functions
- Human Resources
- Sales and Marketing
- Accounting and Legal
By Components
- Solutions
- Document Management
- Record Management
By Vertical
- BFSI
- Retail and Consumer Goods
- IT and Healthcare
- Manufacturing
- Telecommunication
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Regional Analysis
- UK
- Germany
- France
- Italy
- Spain
Rest of Europe
Company Profiles
- Adobe Inc.
- Everteam
- Fabasoft International Services GmbH
- IBM Corp.
- Microsoft Corp.
- Oracle Corp.
- Open Text Corp.
- SAP SE
- Veeva Systems Inc.
- Xerox Corp.
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