Document Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Document Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global document management system market size reached US$ 7.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.3 Billion by 2028, exhibiting a growth rate (CAGR) of 11.2% during 2023-2028.

A document management system (DMS) is an automated software solution designed to manage documents and files and simplify data management systematically. It helps capture, track and store electronic documents like PDFs, word processing files, and digital images of paper-based content. It provides document security, access control, centralized storage, audit trails, and streamlined search and retrieval. Besides this, it stores files in the cloud, makes sharing information and collaborating easier, and allows documents from different sources to be accessible from multiple locations through an internet connection. As a result, DMS enables companies to manage the workplace environment and achieve their goals.

Document Management System Market Trends:

The growing demand for web-based services to address consumer concerns is leading to the widespread adoption of DMS across small- and medium-sized enterprises (SMEs). In addition, the growing acceptance towards remote work models is increasing the need for workforce mobility and other integrated facility management solutions to access official assets and decrease the physical infrastructure requirements of the organization. Along with this, improving technologies and efficient execution of the DMS are gradually eliminating the traditional concept of paper files, which, in turn, is offering a favorable market outlook. Besides this, the lack of cohesive data on patients in the healthcare sector is further driving the usage of DMS to eliminate human error. The effective and reliable management of documents generated, along with the escalating need to minimize paper usage, helps reduce operational costs and storage issues, which is positively influencing the market. Furthermore, the growing sales of smartphones and the integration of cloud technology, including artificial intelligence (AI), machine learning (ML), virtual and augmented reality (VR/AR), and point of sale (POS) platforms with DMS to meet consumer-specific needs is strengthening the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global document management system market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on offering, deployment mode, organization and application.

Breakup by Offering:

Services
Solution

Breakup by Deployment Mode:

On-premises
Cloud-based

Breakup by Organization:

Small and Medium-sized Enterprises
Large Enterprises

Breakup by Application:

BFSI
IT and Telecommunication
Government
Healthcare
Retail
Manufacturing
Others

Breakup by Region:

North America

United States
Canada

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Agiloft Inc., DocuSign Inc., eFileCabinet, Hyland Software, International Business Machines Corporation, OpenText Corporation, Oracle Corporation, Ricoh Company Ltd., Scrypt Inc., Synergis Technologies LLC, Xerox Holdings Corporation and Zoho Corporation.

Key Questions Answered in This Report:

How has the global document management system market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global document management system market?
What are the key regional markets?
What is the breakup of the market based on the offering?
What is the breakup of the market based on the deployment mode?
What is the breakup of the market based on the organization?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global document management system market and who are the key players?
What is the degree of competition in the industry?