What is Public Records Management Software Market?
The global public records management software market is expected to grow at a healthy pace during the forecast period, according to the AMA study. Increasing digitisation in government operations & law enforcement sector and increasing demand for higher productivity across government operations & improved submission tracking are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness decline in the growth during FY 2020 but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
The market study is being classified, by Application (Request Management {Online Forms, Workflow Assignment, Payment Processing, Public Database, Common Documents, Digital Storage, Role-Based Permissions, Audit Trail}, Workflow Management {Automated Reminders, Communication Tools, Cross-Department Collaboration} and Reporting {Dashboards, Basic Reporting}) and major geographies with country level break-up.
AINS, INC. (United States), ArkCase, LLC (United States), Armedia LLC (United States), Business Automation Services, Inc., Calytera (United States), cloudPWR, LLC (United States), Everlaw, Inc (United States), Exterro, Inc. (United States), GovQA Public Records (United States), Granicus (United States), Hyland Software, Inc. (United States), Municode (United States), Naviant (United States), NextRequest (United States), Vuelio (United Kingdom) and ZyLAB (United States) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Public Records Management Software market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Public Records Management Software market by Type, Application and Region.
On the basis of geography, the market of Public Records Management 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Digitisation in Government Operations & Law Enforcement Sector
- Increasing Demand for Higher Productivity Across Government Operations and Improved Submission Tracking
- Growing Demand for Advanced Analytics & Automated Reporting
Market Trend
- Implementation of Artificial Intelligence (AI) in Public Record Management Software
- Increasing Demand for Automation
Restraints
Opportunities
- Opportunities in the Asia Pacific Region
Challenges
- Short-term Challenges due to Reduced Operations Across Different Industries & Economic Crisis caused by COVID-19 Pandemic Across the World