The US ECM market is estimated to grow significantly during the forecast period. The major factor that propels the market growth in the country includes the significant adoption of the hybrid cloud solutions, big data analytics coupled with growing significant amount of unstructured data in large enterprises. Moreover, the Increasing adoption of the cloud platform is attributed to the faster deployment of new capabilities in enterprises. Various factors can influence the adoption of cloud-based ECM solutions by SMEs (small and medium enterprises) such as organization characteristics, competitiveness, and management strategies. In the US, there were around 5,954,000 firms in 2016 which increased to nearly 5,997,000 in 2017 as per the data provided by census.gov. Moreover, the organization also stated that over the period 2016-2017, the number of firms in the country continues to increase that further increases a large amount of unstructured data thus propels the demand for ECM solutions in the US.
The US 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 US 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 US 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.
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US 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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Company Profiles
- Adobe Inc.
- Alfresco Software, Inc.
- Ascend Software Inc.
- Box, Inc.
- Hyland Software, Inc.
- IBM Corp.
- Microsoft Corp.
- M-Files Inc.
- Oracle Corp.
- Open Text Corp.
- SAP SE
- Veeva Systems Inc.
- Xerox Corp.
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