Cloud Enterprise Management Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Cloud Enterprise Management Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Cloud Enterprise Management Market size is expected to grow from USD 30.18 billion in 2023 to USD 64.30 billion by 2028, at a CAGR of 16.33% during the forecast period (2023-2028).

Solutions for enterprise content management (ECM) enable a firm to fully leverage the customer and company knowledge embedded in its content. Business content is captured, stored, activated, analyzed, and automated by ECM solutions, which create new value from previously unstructured and inaccessible data.

While monitoring performance and costs, cloud management software enables and even automates the movement of workloads between private and public clouds. These technologies have the potential to increase the efficiency of multi-cloud administration significantly.

The expanding trend of "bring your device" and the increased necessity for agility and flexibility in company operations contribute to the market's expansion (BYOD).

Unstructured content's rapid expansion significantly hinders many organizations, especially companies. As a result, more businesses are utilizing the advantages of cloud computing.

Some significant factors driving the migration from legacy ECM solutions to the cloud include the expansion in digital content across companies, the ease of access from remote endpoints, the requirement for regulatory compliance, and the necessity to protect enterprise data from disaster.

Some of the most significant public cloud obstacles impeding the market's expansion are internet outages and bandwidth limitations, cost control, data privacy and security concerns, resource protection, governance, compliance, and lack of experience.

The use of video conferencing technologies and virtual conference software dramatically increased due to COVID-19. Governments implemented lockdowns across the globe. The need for internet bandwidth increased dramatically as a result of this. Since it was simple to manage the unexpected surges in bandwidth demand in a corporate cloud scenario, which witnessed market expansion, cloud computing was a lifesaver in such situations.

Cloud Enterprise Content Management Market Trends

Hybrid Cloud Expected to Record High Adoption

Organizations worldwide have worked to improve their scalability and agility during the past ten years to outperform their competitors. To manage demand fluctuations, enterprises all over the world are moving more and more toward the implementation of hybrid clouds.

Hybrid clouds primarily focus on maximizing private clouds' flexibility and security while minimizing expenses. The public and private clouds are said to operate independently of one another in a hybrid cloud system, with one or more shared connections allowing for seamless communication.

Hybrid clouds offer benefits such as cost-effectiveness and flexibility required by modern businesses that use multiple technologies simultaneously, such as mobile applications, social networks & websites, and traditional business apps.

Hosting, hybrid cloud security, and software for managing hybrid clouds are among the services provided in this sector. With the help of these technologies, retail service providers may use advanced data analytics to learn more about consumer wants, requirements, and behaviors. Retail businesses may provide their customers with a personalized and interesting user experience thanks to cloud-based tools.

As companies increasingly prioritize data analytics for decision-making, the gradual shift from private cloud computing is one of the key enablers of hybrid clouds.

When a company wants to free up local resources for more sensitive data or applications, using a hybrid cloud enables it to do so without spending a tonne of money on handling temporary surges in demand.

North America to be the Largest Market

The hybrid cloud industry is predicted to be dominated by North America. Several local businesses are transitioning from the public cloud to a new era of hybrid IT, which mixes the public cloud, private cloud, and traditional IT. Several companies have adopted a hybrid cloud strategy, which helps them grow their operations and provide customer service.

The most recent technology developments in content management are in the area. Also, there is a high internet penetration rate, which supports the development of the areas bring your device (BYOD) trend.

Out of all the regions in the world, this one generates the most money for the market. The need for highly effective cloud services has arisen due to high-profile data breaches that have compromised customer data in the last ten years. For instance, Apple was the target of intense public indignation when numerous high-profile individuals' iCloud accounts were compromised.

Large companies are increasingly looking for multi-cloud management solutions because the ML capabilities of multi-cloud settings may facilitate large data transfers. Instead of relying on a single cloud provider's infrastructure, supplemental services, and pricing, multi-cloud adoption gives businesses other options in this area.

The continued rollout of wireless connectivity and the growing adoption of connected and IoT-enabled devices have driven the demand for innovative solutions based on the latest technologies.

Cloud Enterprise Content Management Industry Overview

The cloud enterprise management market is consolidated because the majority of the market share is owned by top players in the industry. Small and medium-sized businesses are improving their cloud services. Still, the top companies have attracted a significant number of customers and are making considerable investments in new technologies and innovations. Alfresco Software Inc., Docuware GmbH, Hewlett Packard, Lexmark International Ltd., Microsoft Corp., Oracle Corp, Newgen Software Inc., Xerox Corp., IBM Corporation, and OpenText Inc. are a few of the major participants.

In November 2022, Hewlett Packard Enterprise announced a next-generation compute portfolio that delivers a cloud operating experience designed to power hybrid environments and digital transformation. The new HPE ProLiant Gen11 servers give businesses easy-to-use, reliable, and optimized computing resources that are perfect for various modern workloads, such as AI, analytics, cloud-native applications, graphically demanding applications, machine learning, virtualization, and desktop infrastructure (VDI).

In November 2022, DocuWare announced the introduced iPaaS connectors to its portfolio.iPaaS connectors are valuable for every business that uses accounting software such as Intuit QuickBooks, Xero, Lexoffice, Bexio, or ERPs from Microsoft or SAP and needs to share data. DocuWare uses webhooks to pass data via the integration platform to the other application.

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