North American Enterprise content management (ECM) market is projected to grow at a significant CAGR during the forecast period (2020-2026). The market is mainly driven due to the significant adoption of the cloud-based ECM solutions by the enterprise in the US and Canada. The cloud-based ECM solutions are widely accepted over the on-premises solutions as these provide various benefits such as cost reduction, scalability, and others.
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On-premises implementations requiring the detailed coordination of multiple technical, IT, and business resources processes take longer to complete and delays associated with hardware acquisition and set up are inevitable. However, this time can be reduced by utilizing a cloud-based ECM versus a comparable on-premises implementation.
Moreover, the growing number of enterprises in the region further contributes to the rising demand for ECM solutions. As per the Government of Canada, as of December 2017, the Canadian economy totaled 1.18 million employer businesses. Of these, 1.15 million (97.9%) were small businesses, 21,926 (1.9%) were medium-sized businesses and 2,939 (0.2%) were large businesses. In 2016, as per the data provided by the OECD, there were around 48,730 enterprises in Canada which include 6,020 numbers of enterprises with 20 to 49 employee strength and 3,400 enterprises with 50-249 employees in 2016. The significant number of enterprises in the country reflects considerable demand for ECM solutions; thereby drives the ECM market within the country.
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North American ECM Market – Segmentation
By deployment
- Cloud-based
- On-Premises
By Industry
- BFSI
- Manufacturing
- Healthcare
- Government
- IT & Telecom
- Retail & E-commerce
- Others (Media & Entertainment)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
