Asia Pacific electronic document management system market is expected to witness sharp growth owing rising penetration of SaaS based solutions and favorable government initiatives in the region. Furthermore, the increasing volume of data and growing demand for cloud storage is also expected to augment demand in the region. North America holds a major share in the global EDMS market owing to presence of large number of EMDS solution providers and early adoption of technology in the region.
Electronic document management system market in cybersecurity is set achieve lucrative growth during the forecast period. Owing to their efficiency and productivity, EDM systems play a vital role in cybersecurity. The document management systems enable user to access cybersecurity tools for overcoming data leak risks. The surging deployment of EDMS across various industrial sectors to preserve the consumer’s rights and to prohibit leaks is essentially what will drive electronic document management system market trends over the years ahead. In addition to this, healthcare facility providers are also utilizing document management systems to provide better medical care solutions to their patients. Endowed with a significantly widespread application spectrum, electronic document management system market outlook is likely to witness a dynamic transformation in the years ahead.
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The growing emergence of IT solutions and surging adoption of digitization has had a positive impact on electronic document management system market. In today’s scenario, documents have become an integral part of the corporate and and academic sectors. In consequence, document management systems have attained a preferential position in every organization, given that an effective document management strategy helps companies retrieve important documents very efficiently when required. For instance, Digipaper is one of the most versatile and innovative software products implemented by several organizations to manage the escalating accumulation of digital and paper documents by generating archives for efficient and convenient operations.
It is also prudent to state that converting paper documents to digital ones is one of major factors certain to stimulate electronic document management system market share. An effective EDM system also reduces the wastage of time and the frustration that stems from not finding the right documents when needed. It has been observed that once an effective document management system is installed in an organization, the quality of work, customer satisfaction, and operational efficiency soars to tremendously great heights. The rising implementation of EDMS technology thus, will lead to electronic document management system market witnessing tremendous growth in the ensuing years, having accumulated USD 2 billion in 2016.
The rise in demand for document retention as a result of stringent rules and regulations governing the storage of company records is benefitting the global electronic document management system market. Increase in the formation of new businesses has also led to the steep demand for such solutions as they provide co-ordination and control over flow of documents in a protective and efficient manner. Key benefits of EDMS include data protection, information destruction, records management and recovery services.
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The evaluation of EDMS i.e. collection of various technologies that work combinedly to supply comprehensive solution to manage indexing, creation, retrieval, capture, and information assets of companies has eliminated unnecessary procedures in the organizational progress. The rising adoption of EDMS in the industrial sectors to achieve high operational excellence is thus likely to propel electronic document management system market. A few months before, the renowned chemical manufacturer, DOW chemical selected one of the key players in electronic document management system market, Synergis Software to deploy the Adept EIM (Engineering Information Management) solution.
Table of content for this research report:
Chapter 5. Electronic Document Management System Market, By Deployment Model
5.1. Electronic document management system market share, by deployment model, 2016 & 2024
5.2.1. Market estimates and forecasts, 2013 – 2024
5.3.1. Market estimates and forecasts, 2013 – 2024
5.4.1. Market estimates and forecasts, 2013 – 2024
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The main aim behind the deployment of this advanced system was to provide quick access to capital engineering project documents, enhance global collaboration, and support fast post-project data handover. Before the deployment of EDMS, Dow Chemical had at least 20 different kinds of information management systems to process nearly 3 million documents. After the implementation of EDMS however, Dow Chemical has successfully reduced the risk associated with data management with highly reliable and intuitive solutions. The growing adoption of EDMS is thus heavily influencing electronic document management system market share.
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