Enjoy complimentary customisation on priority with our Enterprise License!
The Enterprise Information Management (EIM) Market size is estimated to grow by USD 88.02 billion at a CAGR of 17.01% between 2023 and 2028. The market landscape for Enterprise Information Management (EIM) is being shaped by the increasing prevalence of cloud deployment models. This trend is driving the uptake and expansion of EIM across diverse industries. Cloud-based models are favored for their robust security, dependability, adaptability, and affordability. Their appeal lies in their cost-efficiency, advanced information management features, and adaptable nature, making them increasingly attractive to businesses seeking scalable solutions. As organizations prioritize flexibility and accessibility in managing their data, cloud-based EIM solutions offer the agility and reliability needed to navigate evolving market demands. With their proven benefits and growing adoption rates, cloud deployment models are poised to continue revolutionizing the EIM landscape in the foreseeable future.
To learn more about this report, View Report Sample
This report extensively covers market segmentation by end-user (BFSI, healthcare, manufacturing, retail, and others), deployment (on-premises and cloud-based), and geography (North America, Europe, APAC, South America, and MEA).
The on-premises segment is estimated to witness significant growth during the forecast period. There is significant growth for this segment as it is perceived to be highly secure compared with the cloud-based model. In addition, it is dominated by large organizations. Furthermore, they are more concerned about functionality, data privacy, and data security than the cost-effectiveness of solutions.
Get a glance at the market contribution of various segments View Free PDF Sample
The on-premises segment was the largest segment and was valued at USD 29.13 billion in 2018. Moreover, the emergence of SMEs, growing awareness, increasing innovations in data security, inherent cost-effectiveness, and flexibility of the cloud-based model are some of the main factors that are significantly contributing to the growth of this segment. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
The increasing adoption of EIM in the BFSI segment will increase the market growth. The complete digitalization of core processes and procedures, adoption of the client-centricity view, and generation of enormous amounts of data are significantly contributing to the growth of this segment. In addition, solutions such as performance management applications provide them with financial planning, budgeting, forecasting, and financial and operational reporting. Furthermore, the improvement of customer service across platforms and regions, superior workflow automation of core and allied activities ranging from deposits to lending and leasing, and reduction in processing costs while achieving operational competence and regulatory compliance are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors that is significantly contributing to the market in North America is the early adoption of technologies which is leading in terms of intensive growth and data consumption. In addition, the region is technologically mature, and the industrial sector is completely developed.
Moreover, the fast rate of technology adoption and overall maturity of the industrial sector results in an abundance of use cases for Enterprise Content Management (ECM). Furthermore, the strong presence and penetration of the top companies, along with stringent data regulatory standards, contribute to the overall market in the region. Hence, such factors are driving the Enterprise Content Management market in North America during the forecast period.
The market is witnessing significant growth driven by the rising prevalence of cloud computing and the increasing integration challenge faced by organizations. Companies like KDDI Corporation are embracing advanced technologies such as artificial intelligence (AI) and high-performance computing to enhance content management and information governance. Manufacturing companies and travel and tourism companies are among the sectors benefiting from scalable EIM solutions, both on-premise and through the Internet of Things (IoT). With a focus on data quality, integrity, and usability, EIM software ensures the availability and reliability of information assets. As organizational drivers prioritize efficient information management, the demand for integrated EIM solutions continues to rise, driving the market forward with innovative and adaptable software solutions.
One of the key factors driving the market's rising demand for digitalization. Industries worldwide, including consumer goods, healthcare, manufacturing, and retail, are increasingly embracing digitalization. However, this digital transformation also heightens the risk of cyberattacks on their IT resources, including the flow of data, enterprise management efficiency, effectiveness, master data management platform, and customer data. As a result, there is a growing demand for encryption management solutions to bolster cybersecurity measures.
Technological advancements, such as integrating chatbots into customer support and implementing the bring your own device (BYOD) policy, have further emphasized the need for proactive cybersecurity measures, including the use of open-source platforms. These measures are crucial for businesses of all sizes, from small to medium and large, and are especially important in the context of cloud computing and the big data analytics software & services market. The popularity of the BYOD policy is rising across industries, allowing employees to access data using their smartphones and laptops. These developments are expected to drive the market for encryption management solutions in the forecast period. Additionally, the integration of enterprise AI enhances cybersecurity by enabling proactive threat detection, anomaly detection, and automated response mechanisms. AI-powered cybersecurity solutions bolster defense against evolving cyber threats in cloud computing and big data analytics environments, supporting organizations in safeguarding sensitive data and maintaining regulatory compliance.
A key factor shaping the market is the increase in penetration of cloud deployment models. The penetration of the cloud deployment model is a key trend affecting the adoption and proliferation of EIM solutions across verticals. In addition, cloud-based models are highly secure, reliable, agile, and cost-effective. Furthermore, they are considered an attractive proposition because of their cost-effectiveness, advanced information management capabilities, and flexibility.
Moreover, most of these organizations are still expected to leverage the on-premises model for their critical data, but the implementation of hybrid and cloud-native models is positively impacting the market. In addition, a mobile Enterprise Information Management (EIM) suite on the cloud is appealing because it can effortlessly assimilate across various platforms and systems in diverse regions. Therefore, there is an increasing need to integrate Enterprise Data Management (EDM) seamlessly during the forecast period. EDM encompasses strategies, processes, and technologies for effectively managing and utilizing enterprise data assets. It includes data governance, data quality management, data integration, and master data management to ensure data consistency, accuracy, and accessibility across hybrid and cloud environments. As organizations adopt hybrid and cloud-native EIM solutions, they enhance operational agility, data security, and scalability, driving demand for advanced EDM capabilities.
Data privacy concerns are one of the key challenges hindering the market. One of the main issues in conversational AI is data privacy, which is one of the significant challenges in the global conversational systems market. In addition, there is an increasing popularity of chatbots, as many of these across the globe are adopting this type of AI technology to simplify business processes.
However, with the rise in the occurrence of cybercrimes around the world, concerns have been expressed about the security of chatbots and VAs. Furthermore, Customers share a lot of different types of information during a conversation with chatbots or VAs which are prone to cyber security attacks. Hence, such factors are negatively impacting. Therefore, it is expected to hinder the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ABBYY Solutions Ltd: The company offers Abbyy timeline, Abbyy vantage, and Abbyy flexicapture.
Barracuda Networks Inc: The company offers under brands such as Sharp, UCLA, and Accor.
The market research report also includes detailed analyses of the competitive landscape of the market and information about 19 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is witnessing rapid growth, fueled by factors such as the rise in cloud computing and the increasing demand for scalable solutions in manufacturing and travel industries. With the adoption of on premise solutions and cloud-based EIM software, organizations are enhancing their digital transformation initiatives and expanding regionally. Integrated software solutions enable efficient collection, organization, and dissemination of data, facilitating data-driven decision-making and improving business operations. The implementation of AI and machine learning technologies further enhances EIM capabilities, enabling predictive analytics, natural language processing, and cognitive automation. However, challenges such as data security, complexity, and regulatory compliance persist. Nevertheless, as enterprises prioritize cost optimization and digital maturity, the EIM market continues to evolve, providing organizations with a competitive advantage in today's dynamic business landscape.
In addition, as large enterprises expand regionally, the need for efficient data management becomes paramount. EIM software facilitates data-driven decision-making and ensures data security and privacy, particularly with the rising volume of online transactions and the proliferation of IoT devices and social media platforms. Machine learning technologies enhance data processing capabilities, while addressing challenges such as complexity and integration. Amidst regulatory environments and stock market volatility, EIM solutions offer cost-effective and AI-driven approaches to managing information, providing organizations with a competitive edge in navigating today's dynamic business landscape.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
183 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 17.01% |
|
Market Growth 2024-2028 |
USD 88.02 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
15.92 |
|
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
|
Performing market contribution |
North America at 38% |
|
Key countries |
US, Japan, China, Germany, and UK |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
ABBYY Solutions Ltd., Adobe Inc., Barracuda Networks Inc., Cognizant Technology Solutions Corp., Dell Technologies Inc., Hewlett Packard Enterprise Co., Hyland Software Inc., International Business Machines Corp., KYOCERA Corp., M Files, Microsoft Corp., Mimecast Ltd., Open Text Corp., Oracle Corp., Proofpoint Inc., SAP SE, Veritas Technologies LLC, Jatheon Technologies Inc., Kodak Alaris Inc., and Pagefreezer Software Inc. |
|
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.