Global Document-Centric Collaboration Software Market 2017-2021

Overview of the global document-centric collaboration software market

Technavio’s market research report predicts that the global document-centric collaboration software market will grow at a CAGR of above 10% during the forecast period. The rising focus on developing document collaboration capability is one of the primary drivers for market growth. Document-centric collaboration solution holds a complete history of records, and stores all linked comments and activities around each document.  These tools offer organizations with a document-centric collaboration capability, permitting users to tag documents and add comments pertaining to the content. This is driving many companies to choose document collaboration tools over e-mails. Also, the document-centric collaboration software improves and quickens interactions among people, thus, allowing teams in organizations to access related business information more quickly in real-time.

The Americas dominated the global document-centric collaboration software market during 2016 and is projected to continue the dominion during the forecast period. The growing importance of effective content, file, and document management, and the increasing importance of effective content management drive the market growth in the region. Moreover, the rising support from the government sector leading to increasing in the number of foreign players entering the market also contributes to the growth of the market in the Americas.

Competitive analysis and key vendors

The global document-centric collaboration software market consists of many small and large vendors and is highly fragmented. Numerous vendors in the market have set up a strong presence in the global market. The competition has risen due to the increased demand for document-centric collaboration software among large enterprises and SMEs. Also, the market provides growth opportunities for vendors, regardless of their market size. Players with well-known brand names and recognized capabilities are expected to target major enterprises due to their capability to cater to standardized communication requirements.