Electronic Data Management Market By Offering (Solution, Services), By Deployment Type (Cloud, On-premises), By Organization Size (Large Enterprises, Small and medium Enterprises), By End-user (BFSI, Healthcare, Retail, IT and Telecom, Manufacturing, Othe

Electronic Data Management Market By Offering (Solution, Services), By Deployment Type (Cloud, On-premises), By Organization Size (Large Enterprises, Small and medium Enterprises), By End-user (BFSI, Healthcare, Retail, IT and Telecom, Manufacturing, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

The global electronic data management market is anticipated to reach $19.3 billion by 2031, growing from $6.4 billion in 2021 at a CAGR of 12.2% from 2022 to 2031.

The digital transformation of the business world has led to an increase in adoption of electronic document management systems. The vast improvement of solutions for auditing, collaboration, and security has given businesses the assurances and resources they need to move their documents, records, and document management strategies electronically with little to no hesitation.  Electronic data management companies offer a wide range of products and services, including database management systems, business intelligence and analytics tools, and cloud-based data management solutions that gives companies the ability to index, extract, and retrieve text from essential files as well as capture and store them. The large scale business keeps expanding due to established standards and cloud storage, which makes documents accessible from any Internet connection. These factors are estimated to drive the market growth during forcast period. 

The high maintenance costs connected with on-premises solutions and a rise in security breaches, however, is expected to limit the electronic data management market growth during the forecast period. The major hindrance to the market growth will be a shortage of knowledgeable electronic data management workers. EDM solutions often require specialized technical expertise to implement and maintain effectively. Smaller organizations may not have the resources to hire dedicated IT staff or invest in training for existing staff, which could limit their ability to adopt EDM solutions. This factor is projected to hamper the market growth in the future.

The expansion possibilities provided by cloud integration and data integration are anticipated to benefit the global market for electronic data management. Analytical models that control vast amounts of data serve as the foundation for software interaction. As AI and machine learning technologies continue to advance, they are likely to play an increasingly important role in EDM. These technologies can help organizations to analyze and derive insights from large volumes of data, making it easier to make informed decisions.

The COVID-19 pandemic brought several uncertainties leading to severe economic losses as various businesses across the world were at a standstill. The COVID-19 pandemic had a significant impact on the global electronic data management market, as businesses across the globe had to rapidly adapt to new ways of working and managing data remotely. The major effects of the pandemic have been a transition towards remote work and virtual collaboration, which resulted in an increase in demand for cloud-based data management systems. This further led to an increase in demand for cloud storage and collaboration capabilities as businesses seek to securely store and share data across remote teams.

The key players profiled in this report include Microsoft Corporation, Oracle Corporation, Open Text Corporation, Hyland Software, Inc, IBM Corporation, Xerox Corporation, Adobe Inc, KYOCERA Document Solutions Inc, Konica Minolta, INC., and Exela Technologies, Inc.  

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electronic data management market analysis from 2021 to 2031 to identify the prevailing electronic data management market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the electronic data management market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global electronic data management market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Offering

Solution
Services

By Deployment Type

Cloud
On-premises

By Organization Size

Large Enterprises
Small and medium Enterprises

By End-user

BFSI
Healthcare
Retail
IT and Telecom
Manufacturing
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
United Arab Emirates
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Microsoft Corporation
Oracle Corporation
Open Text Corporation
Hyland Software, Inc.
IBM Corporation
Xerox Corporation
Adobe Inc.
kyocera document solutions inc.
Konica Minolta, INC.
Exela Technologies, Inc.

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