In today’s world, huge amount of computer generated valuable repository of corporate information associated with operational and business processes demand a solution for effective management of these digital documents. Document management software is a computer program which helps to store, manage and keep a track of electronic documents, electronic images of paper based information captured through the use of a document scanner. A document management software is integrated into a document management solution which allows enterprises to control production, storage, management and distribution of electronic documents.
Nowadays, document management software strive to cope up with the trends such as cloud computing, social integration, smartphone accessibility, and workflow collaboration. A document management software also features federated searches and version controls for managing multiple versions of enterprise documents which helps to reduce time as well as cost associated with document management.
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Document Management Software Market: Drivers and Restraints
Increasing trend of cloud computing, software as a service (SaaS), rise in adoption of big data management and data analysing tools by enterprises, and the need to maintain data compliance in enterprises are some primary factors driving the growth of document management software.
However, integration issues of document management systems with company’s in-house applications and cyber security issues are some factors restraining the growth of document management software market.
Document Management Software Market: Segmentation
Document management software market can be segmented on the basis of deployment mode, applications, industry verticals and region wise. On the basis of deployment mode, document management software market can be further segmented into cloud-based and on-premise. Application wise this market can be segmented into android, iOS, windows and others. On the basis of industry verticals it is sub-segmented into IT & telecommunication, BFSI, retail, healthcare, government and others. Region wise document management software market is further segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East & Africa.
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Document Management Software Market: Regional Overview
North America and Europe region is expected to hold a large market share in document management software system due to adoption of document management systems in financial and healthcare industries in these regions. Asia Pacific region is also showing a considerable growth in document management software market owing to adoption of such systems by government for various government portals and initiatives in countries such as India. Middle East & Africa region is showing a gradual growth in this market.
Document Management Software Market: Key Players
eFileCabinet, Zoho Corporation, Microsoft Corporation, Google Inc., Ascensio System SIA, Dropbox Business, Adobe Systems Incorporated, Salesforce, Lucion Technologies, Box and Evernote Corporation are some of the key players in Document Management Software market.
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