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The Enterprise Information Management (EIM) Market size is estimated to grow at a CAGR of 17.01% between 2023 and 2028. The market size is forecast to increase by USD 88.02 billion. The growth of the market depends on several factors, including the rising demand for digitalization, the intensive growth of unstructured data across verticals worldwide, and the adoption of information as an asset for process optimization and productivity.
This enterprise information management market report extensively covers market segmentation by deployment (on-premises and cloud-based), end-user (BFSI, healthcare, manufacturing, retail, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
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One of the key factors driving the enterprise information management market growth rising demand for digitalization. There is an increasing adoption of digitalization across the world by several industries, such as consumer goods, healthcare, manufacturing, and retail. In addition, digitalization makes the IT resources of industries prone to cyberattacks. Hence, the rising adoption of digitalization is increasing the demand for encryption management solutions, which can be used as tools to prevent cyberattacks.
Moreover, technological developments such as the integration of chatbots in customer support applications and the implementation of the bring your own device (BYOD) policy across the world have increased the need for the proactive prevention of cyberattacks. Furthermore, the e popularity of the BYOD policy is increasing across all industries as it enables the employees of enterprises to access enterprise data using devices such as smartphones and laptops. Hence, such factors are positively impacting the enterprise information management market. Therefore, it is expected to drive the market growth during the forecast period.
A key factor shaping the enterprise information management market growth 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 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 enterprises are still expected to leverage the on-premises model for their critical data, the implementation of hybrid and cloud-native models which is positively impacting the enterprise information management market. In addition, a mobile 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 EIM seamlessly across an enterprise during the market growth during the forecast period.
Data privacy concerns are one of the key challenges hindering the enterprise information management market growth. 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 enterprises 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 the enterprise information management solution. Therefore, it is expected to hinder the market growth during the forecast period.
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, enterprises are more concerned about functionality, data privacy, and data security than the cost-effectiveness of solutions.
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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 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 enterprise performance management applications provide enterprises 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.
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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 growth of the enterprise information management (EIM) 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 EIM. Furthermore, the strong presence and penetration of the top companies, along with stringent data regulatory standards, contribute to the overall market growth in the region. Hence, such factors are driving the market growth in North America during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global enterprise information management market witnessed significant growth due to the adoption of EIM solutions across various end-user industries in the region, primarily by healthcare and public companies and organizations in North America. However, in 2022, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which further enhanced the growth of the enterprise information management market in this region. Such factors are expected to drive the market during the forecast period.
The enterprise information management 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 Enterprise Information Management 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 enterprise information management such as Abbyy timeline, Abbyy vantage, and Abbyy flexicapture.
Adobe Inc: The company offers enterprise information management which is designed to optimize, store and process data within an enterprise through the combined power of business intelligence solutions and content management.
Barracuda Networks Inc: The company offers enterprise information management under brands such as Sharp, UCLA, and Accor.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 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 enterprise information management market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Enterprise Information Management Market Scope |
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Report Coverage |
Details |
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Page number |
183 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 17.01% |
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Market growth 2024-2028 |
USD 88.02 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
15.92 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 38% |
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Key countries |
US, Japan, China, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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Market dynamics |
Parent market analysis, 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 forecast period. |
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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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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