2014-02-12 05:26:03 - Global Document Management Systems Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Document Management Systems market is to grow at a CAGR of 13.98 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need for effective corporate information management. The market has also been witnessing increased adoption of Document Management Systems in Small and Medium-sized enterprises. However, data security concerns could pose a challenge to the growth of this market.
Earlier, SMEs had limited options when adopting a system that would ensure optimal business performance. This was mainly because they did not require, or could not afford, all the features of enterprise-class software systems. Their options were limited to freeware and low-end or open-source solutions that mainly focused on server or network monitoring.
In the last few years, SMEs have become increasingly aware of the significance of complete visibility of their operational performance and its impact on their businesses. This trend has created an opportunity for DMS software vendors to develop new versions of their products and attract SMEs, thus improving their presence in this market. Also, with growing operations, SMEs need to find a solution for their document management, storage, and other features. These needs are leading SMEs to shift toward DMS solutions.
One of the major drivers of the market is the need for effective management of corporate information. DMS enables the storage of business documents and is continually transforming to streamline the business process and to meet the demands of a growing number of enterprises for which the management of documents is becoming a complex and a difficult task.
Further, the report states that concern about data security is one of the major challenges confronting the market. Enterprises are always concerned about data security and related issues when using DMS solutions. This concern is greater when the tool is installed using SaaS-based solutions. During the deployment of SaaS-based DMS solutions, the data resides in the cloud servers of vendors, increasing security concerns.
The key vendors dominating this space include EMC Corp., IBM Corp., Microsoft Corp., and OpenText Corp. The other vendors mentioned in the report are Alfresco Software Ltd., Hewlett-Packard, Hyland Software, Inc., Oracle Corp., SpringCM Inc., and Xerox Corp.
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