Document Management Software Market By Type (Mobile End and Cloud), By Application (Android, IOS, Windows, and Others), By Industry Verticals (BFSI, Retail, Government, Healthcare, Manufacturing, Telecom, and Others) - Growth, Future Prospects, and Competitive Landscape, 2019 - 2027

The global document management software market accounted for US$ 4.43 Bn in 2018 and is projected to grow to US$ 10.68 Bn in 2027, growing at a CAGR of 10.3% throughout the forecast period from 2019 to 2027. Document management software assists businesses in combining papers into digital files and storing them in a single place. Mainstreaming sources, including the Web, thumb drives, and smartphones, have accelerated the need to deal with information of all kinds. Furthermore, the escalating need to manage data through various platforms and factors, such as the substantial growth of e-commerce and social media, are propelling the market's growth. In addition, the increased adoption of SaaS solutions is also bolstering the market growth of the document management software market.

Market Synopsis

Healthcare Segment to Dominate; Government Segment set to Register Maximum Growth throughout the Forecast Period.

Based on the industry vertical, the global document management software market is categorized into BFSI, retail, government, healthcare, manufacturing, telecom, and others (education). The healthcare segment holds the major share in the document management software market. This can be associated with the rising need to streamline document storage, patient history, test reports, and time stamp, among others. In addition, a typical healthcare office handles thousands of documents daily, and to manage documents such as patient information forms and insurance claim forms, among others, a document management system is required. In contrast, the government segment is projected to grow at the highest rate. This is because government offices across the globe have to deal with stringent standards and audit policies, leading to the rapid adoption of document management systems.

North America Dominates, followed by the Asia Pacific; the Asia Pacific is Touted to Register Highest Growth during the Forecast Period.

In 2018, North America appeared to be the major value contributing region to the global document management software market, trailed by the Asia Pacific. The North American market is estimated to grow progressively throughout the forecast period. North America being technologically advanced, an early adopter of the state-of-the-art technology alongside the awareness of the benefits of document management software and related products in the region are collectively driving the market. In contrast, Asia Pacific is expected to register the fastest growth throughout the forecast period. This can be associated with the widespread adoption of software by the government and healthcare industry, among others, in the countries such as India and China. Thus driving the growth of the document management software in this region.

Some of the leading manufacturers profiled in the study include Microsoft Corporation, OpenText Corporation, Zoho Corporation, Xerox Corporation, Adobe Systems Incorporated, Canon Inc., Ricoh Company Ltd., IBM Corporation, eFileCabinet Inc., SpringCM, Oracle Corporation, Alfresco Software Inc., Hyland Software Inc., and Salesforce among others. 

Historical & Forecast Period

This research study provides qualitative and quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, CAGR (Compounded Annual Growth Rate) for each segment and sub-segment is calculated for the forecast period from 2019 to 2027. 

Report Scope by Segments

The document management software market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global document management software market based on type, application, industry vertical, and geography.

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