With an ever-increasing reliance on Enterprise Content Management (ECM) solutions across various verticals, it’s vital to be aware of the trends and elements shaping the ECM world. MarketsandMarkets, a market research company and consulting firm, offered these thoughts on what the next few years might hold for ECM:
New markets: The ECM solution market is projected to be steady for the coming years, with an increase in ECM investments predicted to come from developing nations. What’s more, the increasing awareness among end users for the need for ECM solutions has increased investments in the market across all domains, including academia, banking, financial services, insurance, consumer goods, energy, government, defense, healthcare, manufacturing, media, telecom, transportation, tourism and hospitality.
Privacy and security: Controlling the flow and regulation of access rights is a major concern because of the danger of leaks in critical business information. Privacy guidelines of some form are usually in place, but these can vary from company-to-company, device-to-device and platform-to-platform. The information and communication industries should work with customers, businesses and government to ensure that data remains private and secure.
Increases in data content: Increasing digitization has led to a deluge of content creation, with more than 80 percent of the data taking the form of documents, image and audio/video files. This increase leads to an abundance of unstructured data and content, making it crucial for businesses to find efficient database applications and implement scalable content management solutions.
Value realized: There has been an increasing strong realization of the value of ECM’s cost-effective solutions to data management and sharing across various industries and enterprises. As businesses grow and new companies enter the marketplace, a clearer picture of the benefits of ECM will lead to more opportunities for companies offering ECM solutions.
Keeping an eye on these developing trends and making adjustments required to take advantage of them will position a company for the changes that experts say are coming and even allow a smart, prepared firm to take advantage of them.