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.

Key vendors in the market are:

• IBM
• Microsoft
• OpenText
• Dell

The other prominent vendors in the market are 5i Solutions, ACCELLION, Alfresco Software, Box, CIGNEX Datamatics, Huddle, Intralinks, Newgen Software, Savvydox, SpringCM, Workshare, and Xait.

Segmentation by deployment model and analysis of the document-centric collaboration software market

• Cloud-based
• On-premises

During 2016, the cloud-based deployment model dominated the document-centric collaboration software market and is projected to continue its dominance over the next four years. The minimal upfront investments and on-demand scalability of the platform drive the segment’s growth in this global market. Furthermore, the emergence of cloud computing that has resutled in the reduction of deployment costs of the document-centric collaboration software, enabling small- and medium-sized enterprises (SMEs) to adopt such solutions, will also contribute to the market’s growth in this segment.

Segmentation by end user and analysis of the document-centric collaboration software market

• Banking, financial services, and insurance (BFSI)
• Legal
• Healthcare
• Telecommunication

According to this market research report, the BFSI sector was the major end-user segment to the document-centric collaboration software market during 2016. Since the storage of physical records involves higher costs compared to the electronic versions, organizations are increasingly adopting document-centric collaboration solutions thus driving the segment’s growth in this global market.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global document-centric collaboration software market?
• What are the key market trends impacting the growth of the global document-centric collaboration software market?
• What are the challenges to market growth?
• Who are the key vendors in the global document-centric collaboration software market?
• What are the market opportunities and threats faced by the vendors in the global document-centric collaboration software market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA .
• What are the key outcomes of the five forces analysis of the global document-centric collaboration software market?

Technavio also offers customization on reports based on specific client requirement.

Document-centric collaboration enables multiple users to access, edit, and save the document as a center of the process. It is most frequently used in projects, work status updates, collaborative reports, and such. Technavio studies the importance of this market, which is an important innovation in Technavio’s ICT industry and covers related markets such as IT security, machine to machine (M2M) and connected device, data center, IT spending, and product lifecycle management. The upcoming research report on the global document-centric collaboration software market analyzes factors such as market size, new technologies, top features and applications, and market growth potential to give the client necessary inputs to make informed strategic decisions in this market.

By analyzing data collected from vendors, suppliers, software developers, users, and other key stakeholders, Technavio delivers accurate data and insights of the market with the help of qualitative and quantitative research techniques. The upcoming research report on global document-centric collaboration software market also takes into consideration the growth of related markets such as global project portfolio management software (PPM) market and global event management software market, which are expected to grow at a CAGR of 12% and 10%, respectively, for the forecast period of 2017 to 2021. An exciting trend in this market is collaborations being available on mobile devices as well. In recent times, it has become common for team members to work in an office using their own mobile devices in addition to being always available with them on-the-go. Consequently, the developers have been compelled to make their software compatible across a wide variety of devices.

The upcoming report on the document-centric collaboration software market identifies changing customer demands, most sought-after features, key vendors, and opportunities and challenges faced by the industry. The report also considers the growth of similar markets such as IT professional services, ITO and BPO, automatic identification system, cloud computing, and IT hardware.