Market Research Insights: Understanding User Needs in the EDM System Market

Overview and Scope
The electronic document management system (EDMS) refers to the system that provides solutions for managing the creation, storage, control, and organization of digital documents or paper. An EDMS is a centralized digital platform that simplifies the management, retrieval, tracking, and archiving of documents in various forms.

Sizing and Forecast
The electronic document management system market size has grown rapidly in recent years. It will grow from $5.50 billion in 2023 to $6.37 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%.  The growth in the historic period can be attributed to transition to digital workflows, compliance and regulatory requirements, efficiency and productivity gains, need for centralized information, document version control, paperless office initiatives, risk mitigation and data security.

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Segmentation & Regional Insights
The electronic document management system market covered in this report is segmented –

1) By Solution: Software, Services
2) By Deployment Type: On-Premises, Cloud-Based
3) By Application: Government, Healthcare, Education, Legal, Banking, Financial Services And Insurance (BFSI), Other Applications

North America was the largest region in the electronic document management system market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the electronic document management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The rise in remote work and flexible working hours is expected to propel the growth of the electronic document management system market going forward. Remote work and flexible working hours refer to work arrangements that allow employees to work outside of the traditional office setting and outside of standard work hours. The popularity of remote or flexible work is growing as it offers advantages to both businesses and employees, technological improvements, and shifting perspectives on work-life balance. An electronic document management system plays a crucial role in supporting remote work by allowing workers to work together on, access, and manage documents and data from any location. These systems typically have advanced search capabilities, making it easy to find specific documents quickly. For instance, in June 2023, according to reports published by Forbes Media LLC, a US-based media company, 12.7% of full-time employees work from home, while 28.2% use a hybrid model in the US in 2023, and it is expected to reach 32.6 million will be working remotely by 2025. Therefore, the rise in remote work is driving the growth of the electronic document management system market.

Key Industry Players
Major companies operating in the electronic document management system market report are Microsoft Corporation, Oracle Corporation, Xerox Corporation, OpenText Corporation, Zoho Corporation, Ideagen Plc, MasterControl, M-Files DMS, DocuWare, Seismic, eFileCabinet, DocuPhase, DocSTAR, Optix, CGI Group Inc., Lucion Technologies, LogicalDOC, Formstack Documents, FileCenter, Fluix, DocOrigin, Alfresco One Software, Dokmee, Evernote Corporation, QT9 QMS

The electronic document management system market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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