Market Research Reports

This report is a representation of data and analysis on Document Management System from an actual market research. Due to confidentiality, and the proprietary interests of the company for which this research report is prepared this report has been modified and in some cases entire sections are heavily edited or not available. The target market and specific companies analyzed in this report have not been changed (the client’s name has been changed) so that we can best illustrate our clients about how we meet their specific requirements through with the help of this market research report on Document Management System.

 Research Objectives

1. Purpose

The purpose of this document is to determine the market potential and the concentration of the Document Management System market segment. The focus of this document is to show the value of new technology for managing documents, to illustrate the variety of ways this value can be realized, to develop some structure for understanding this rapidly evolving field, and to suggest some actions managers can take now to prepare for this revolution in information management.

2.Scope

This document explores the scope and importance of DMS in more detail, and illustrates how it expands our view of information management. It covers companies that are making DMS possible, the application areas in which business value are being realized, and the market share till now and then, that will be involved in developing DMS. It also gives a glimpse to begin preparing for this major advancement in information management. The use of the term DMS in this document encompasses the scope and definition of DMS that can be defined as follows.

● Document​: a set of information pertaining to a topic, structured for human comprehension, represented by a variety of symbols, stored and handled as a unit.
● Management​: creation, storage, organization, transmission, retrieval, manipulation, update, and eventual disposition of documents to fulfill an
organizational purpose.
● System: ​the use of modern information technologies.

3. Intended Audience

Because of the pervasiveness of documents, all organizational units will find it important to use technology for document management. There are, however, several departments that have had primary responsibility for one or more functions in document management. It is these “document support” departments that will find this document especially important for accommodating the document processing needs of all other departments in the organization. The primary document support departments are: Law Firms/ Legal industry, Banking & Finance sector, Healthcare, Manufacturing, Education Systems, Pharmaceutical companies.

DMS Market

More statistics supporting the need for document management come from Coopers &

Lybrand (Source: Immersion Technologies, Inc.):

• 90% of corporate memory exists on paper.
• Of all the pages that get handled each day in the average office, 90% are merely shuffled.
• The average document gets copied 19 times.
• Companies spend $20 in labor to file a document, $120 in labor to find a misfiled document, and
• $220 in labor to reproduce a lost document.
• 5% of all documents get lost, 3% of the remainder get misfiled.
• Professionals spend 5-15% of their time reading information, but up to 50% looking for it.
• There are over 4 trillion paper documents in the U.S. alone – growing at a rate of 22% per year.

Often, the biggest opportunities for cost savings are right under your nose. Did you know that recent research from IDC concluded that Fortune 500 companies as a whole lose an average of $12 Billion per year to inefficiencies caused by the lack of a structure for managing their documents and digital assets?

These statistics easily support the fact that most businesses will benefit from a well-deployed document management system. It is not an issue of “if” but “when”. From Accounting and Human Resources to Product Development and Customer Service, every department can realize productivity improvements. The sooner a document management solution is in place, the sooner the benefits can begin to affect business bottom-line and become the basis for efficiently conducting every business function.

According to the Department of Health and Human Services Office of Civil Rights website, over the last 12 months 258 breaches have been reported. 71 of those were paper or film-based records. Compare that to just 16 electronic records. Of the two, paper is the clear loser when it comes to privacy and security.

2.1 Key regions

Americas, EMEA (Europe, Middle East & Africa), APAC (Asia & Pacific)

The major forces driving this market are:

• ​The growing need for data management across multiple platforms due to the substantial growth of e-commerce and social media.
• The necessary reduction of costs associated with content management for the sake of efficiency.
• Need for Increased Efficiency and for a full, detailed list, view our report.

Increased adoption of SaaS-based solutions.

Market Makers

3.1 Vendors

EMC, IBM, Microsoft, OpenText

Other Prominent Vendors​: Alfresco Software, HP, Hyland Software, SpringCM, Xerox

Microsoft has just announced a deal with NetDocuments that effectively kills off Microsoft SharePoint as a stand-alone DMS for the legal market. As part of the deal, cloud-based document and email management (DMS) provider NetDocuments announced that it will fully integrate its services with Microsoft cloud technologies, helping to transform law firm and legal department productivity in the cloud.

The major industries that use DMS solutions the most are banking, financial services, insurance, retail, transportation & logistics, government & defense, life sciences & healthcare and energy & utility organizations.

North America is expected to hold the largest market share, followed by Europe during

the forecast period from 2010 to 2020, while other emerging countries such as Brazil, Russia, China, India, and South Africa (BRICS) are also expected to experience a growth in the implementation of DMS solutions.

Figure 3

 Market Share

The ECM market registered double-digit growth from 2004 to 2007, but its expansion slowed to a single-digit rate in 2008, primarily due to the deteriorating global economic conditions. According to Gartner’s statistics, worldwide ECM software license and maintenance revenue came to $3.3 billion in 2008.

Gartner’s forecasted that total software revenue in the ECM(DMS) market will grow at a compound annual rate of 9.5% through 2013. The market’s return to stronger growth was expected to start in 2010, with rates climbing to double digits and worldwide ECM software revenue exceeding $5.1 billion by 2013. This represented a healthy market, but it was also one that is undergoing transformation.

The DMS market grew 1.4% in 2015 to a worldwide size of $5.4 billion. The combined share of IBM, OpenText and EMC dropped more than 6 points from 43.7% in 2013 to 37.6% in 2015.
The DMS market size is estimated to grow from USD 28.10 billion in 2016 to USD 66.27 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 18.7% due to exponential data growth, increasing need to manage data in enterprises, high need for securing confidential data and protection against data loss.

DMS Comparison Metrics