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Electronic Document Management System Market Segmented By deployment that is On premise, Cloud based and by application that is Government, Healthcare, Education, Legal, BFSI.
An Electronic Document Management System (EDMS) is a software program that manages the creation, storage and control of documents electronically. It is a type of storage system that helps users to store and organize digital documents or paper. A basic Electronic Document Management include document management, workflow, text retrieval, and imaging. In some cases these systems may also organize scanned digital versions of paper documents.
Feature such as efficient document retrieval is also included in many of such systems. Some EDMS rely on a document storage process, which includes elements called metadata. With the help of metadata one can get easy access to key details that will help to search by keywords, chronology, topic, or other associative strategies.
EDMS efficiently handle their document needs and it also helps the organizations to streamline their workflow, thereby increasing individual productivity. It also enable organizations to extract business related information and centralize unstructured content quickly and effectively and hence the usage of Electronic Document Management System is increasing progressively.
The growing emergence of IT solutions and surging adoption of digitization impacts the growth of the Electronic Document Management System market. The increasing demand for retention of the document as a result of regulations that govern the storage of company records and the strict rules has also fueled the growth of the Electronic Document Management System market.
Some other factors driving growth of the EDMS market are rise in adoption of cloud computing, penetration of SaaS base solutions, big data and bring your own device (BYOD) trend. There is a steep demand for EDMS solutions increasing new businesses, as such solutions provide co-ordination in efficient manner and also protects and controls the over flow of documents.
However cyber security issues of Electronic Document Management System and high implementation and maintenance cost of on-premise solutions may hinder growth of the EDMS market.
The global Electronic Document Management System market can be segmented on the basis of deployment, application and region.
In December 2017, LogicalDOC made further progress by supporting two-factor authentication (2FA) to strengthen document management security, in which YubiKey and Google Authenticator play an important role in its implementation. Two-factor authentication not only protect against credential theft and phishing attacks but it is also recommended for a secure login. It is difficult for hackers to access person’s devices and his online accounts because of advanced security level of Two-factor authentication.
The key vendors in Electronic Document Management System market are Alfresco One Software, CGI Group Inc., Lucion Technologies, eFileCabinet, Dokmee, MasterControl, Ideagen Plc, Microsoft Corporation, Oracle Corporation, Zoho Corporation, OpenText Corporation, Xerox Corporation and DocSTAR.
Geographically, the global content delivery network security market can be segmented into North America, Western Europe, Latin America, Eastern Europe, Asia Pacific excluding Japan (APEJ), Middle East & Africa (MEA), and Japan.
North America is expected to dominate the Electronic Document Management System market by holding the largest market share, it is a leader in the market being technologically advanced. The region is the early adopter of the new technology; moreover, there is a high awareness on the benefits of EDMS and similar products in this region.
Europe is expected to be the large revenue-generating region in the global Electronic Document Management System market over the forecast period because of the well-developed infrastructure in the field of IT in this region.
Favorable government initiatives and rising penetration of SaaS based solution in Asia Pacific region is expected to have a sharp growth in the Electronic Document Management System Market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.