About Document Control Software
The global Document Control Software market is expected to witness high demand in the forecasted period due to the increasing popularity of Automated workflow. Document control software is designed to organize and manage documents. It provides users the ability to access, modify, and store documents in various formats such as PDFs, audio, video, and others. It handles various tasks such as archiving, distribution, and creation of documents. The control of the creation & authentication of documents, the management of the storage & retrieval of a document, the maintenance of version control & multiple versions of the document, and ensuring the security & safety of documents are some of the major uses of document control software. The increasing adoption of automated workflow is fuelling the demand for document control software.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Document Control Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Toshiba Corporation (Japan), OpenText Corp. (Canada), IBM Corporation (United States), eFile Cabinet (United States), Ideagen (United Kingdom), Asite (United Kingdom), Alfresco Software (United States), Computhink (United States) and MasterControl (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Document Control Software market by and Region.
On the basis of geography, the market of Document Control Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Deployment Mode, the sub-segment i.e. On-premise will boost the Document Control Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Function, the sub-segment i.e. Access and Control will boost the Document Control Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organization Size, the sub-segment i.e. Large Enterprises will boost the Document Control Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. Banking, Financial Services, and Insurance (BFSI) will boost the Document Control Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Adoption due to Online Security and Smarter Automation and Growing Demand for Cloud-Based Solutions
Market Growth Drivers:
High Demand due to Reduced Business Compliance Risks and Costs and Growing Demand from Large and Medium Business Houses owing to the Regulations
Challenges:
Adoption of Manual Methods by Most of the Organization
Restraints:
The Growing Concern About Data Security and Privacy
Opportunities:
Increasing Awareness for Paper-less Documents and Enterprises and Stringent Government Regulations for Document Control
Market Leaders and their expansionary development strategies
On 7th November 2019, Toshiba America Business Solutions has announced its partnership with Atlanta-based Docufree Corporation, a recognized leader in enterprise information management and business process services.
In August 2021, Exela technologies Inc. expanded its digital mailroom platform service offering to small and medium sized business. The DMR platform provides additional services, including inbuilt features such as electronic signature, data redaction, and storage parcel delivery.
Key Target Audience
Document Control Software Vendors, Software Developers and Service Providers, System Integrators, Healthcare and Research Organisation, Government, End-User Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.