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Major companies operating in the enterprise content management industry are:
IBM Corporation and Microsoft Corporation are dominating the enterprise content management market. Both IBM and Microsoft offered comprehensive ECM solutions that catered to a wide range of enterprise needs. Their ECM platforms provided document management, records management, workflow automation, and collaboration tools, making them one-stop solutions for ECM requirements. Their ECM solutions were scalable and suitable for businesses of varying sizes, from small and medium enterprises to large corporations. Scalability is a critical factor for ECM adoption, as businesses can start small and expand as needed.
The market size of enterprise content management reached USD 22 billion in 2022 and is set to expand at over 10% CAGR from 2023 to 2032, led by the increasing adoption of cloud-based ECM solutions worldwide.
Some of the top global enterprise content management companies are IBM Corporation, Microsoft Corporation, Open Text, Alfresco, Oracle Corporation Newgen Software, Hewlett Packard Enterprise (HPE) Company, Xerox Corporation, and Lexmark International, Inc.
North America held more than 30% of the market share in 2022, owing to the rapid digital transformation across various sectors.
The solution segment generated more than USD 16 billion in 2022, attributed to the rising need for enhanced efficiency, collaboration, and compliance in the digital age.