Electronic Data Management Market to Reach $19.3 Billion, Globally, by 2031 at 12.2% CAGR: Allied Market Research

The increased adoption of data management solutions in numerous banking, retail, healthcare, and other organizations, the penetration of SaaS-based big data solutions, the rise in the bring your own device (BYOD) trend, and technological advancements like cloud computing adoption, AI, and machine learning drive the growth of the global electronic data management market.

PORTLAND, Ore., April 13, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Electronic Data Management Market by Offering (Solution, Services), by Deployment Type (Cloud, On-premises), by Organization Size (Large Enterprises, Small and medium Enterprises), by End-user (BFSI, Healthcare, Retail, IT and Telecom, Manufacturing, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global electronic data management industry generated $6.4 billion in 2021 and is anticipated to generate $19.3 billion by 2031, witnessing a CAGR of 12.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Drivers, Restraints, and Opportunities-

The growth of the electronic data management market is driven by factors such as the increased adoption of data management applications in numerous banking, retail, healthcare, and other organizations, the rise in the adoption of cloud computing; the penetration of SaaS-based big data solutions; the growing bring your own device (BYOD) trend; and technological advancements like cloud computing, AI, and machine learning. On the other hand, smaller organizations may not have the resources to hire dedicated IT staff or invest in training for existing staff, which is a factor that limits their ability to adopt EDM solutions. The high initial implementation costs associated with cloud based EDM solutions can hinder market growth. On the contrary, the demand for paperless documents at workplaces and the growing popularity of mobile data access and real-time collaboration through EDM solutions are expected to create lucrative opportunities in the industry during the forecast period.

Request Sample Report: https://www.alliedmarketresearch.com/request-sample/53907

Covid-19 Scenario-

• The COVID-19 pandemic had a positive impact on the electronic data management market as businesses had to rapidly adapt to new ways of working and remote data management.
• The most significant impact of the COVID-19 pandemic was the shift to remote work and virtual collaboration, which increased the demand for cloud-based data management systems. Businesses' desire to store and share data safely across remote teams and locations led to the increase in the demand for cloud storage and collaboration tools.
• EDM systems also assisted the Indian government and other governmental bodies in locating, isolating, and testing many coronavirus-infected people in close quarters. These elements had encouraged the global market to grow despite the unprecedented crisis.
• Due to businesses' needs for managing sensitive data across a variety of remote devices and networks, the pandemic also highlighted the importance of data privacy and security. Reducing the risks of data breaches and other cyberthreats also led to an increase in investments in cybersecurity and data protection solutions.

Procure Complete Report (280 Pages PDF with Insights, Charts, Tables, and Figures) at:

https://www.alliedmarketresearch.com/electronic-data-management-market/purchase-options

The solution segment to maintain its dominance during the forecast period-

By offering, the solution segment held the largest share in 2021, garnering around three-fifths of the global electronic data management market revenue, and is projected to maintain its dominance by 2031. The same segment would also showcase the fastest CAGR of 12.5% during the forecast period. The segment is driven by a wide range of hardware and software solutions that make it possible to manage electronic data effectively and efficiently. The solutions include data storage, retrieval, analysis, and security which are crucial for businesses to improve data management procedures, guarantee data integrity, and adhere to data regulations.

The on-premises segment to rule the roost by 2031-

By deployment, the on-premises segment contributed to more than half of the global electronic data management market share in 2021, and is projected to rule the roost by 2031. This is due to the implementation of data management solutions within a company's internal infrastructure, where data is locally stored and managed on company-owned servers and hardware. However, the cloud segment would display the fastest CAGR of 12.5% throughout the forecast period. This is owing to the scalability, flexibility, and affordability of cloud-based solutions, which have been widely adopted in recent years for managing electronic data.

The large enterprises segment to maintain its leadership status throughout the forecast period-

By organization size, the large enterprises segment held the highest market share in 2021, accounting for nearly three-fifths of the global electronic data management market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment would also cite the fastest CAGR of 12.5% during the forecast period. This is largely attributed to the growing adoption of digital transformation initiatives and the rising volume of electronic data produced by large enterprises.

North America to maintain its dominance by 2031-

By region, North America held the major share in 2021, contributing to more than two-fifths of the global electronic data management market revenue and is expected to dominate by 2031. This is due to the increasing demand for greater operational efficiency in big enterprises and SMEs, as well as the growing popularity of cloud computing. North America has the top technological firms in the world that are driving innovation in the EDM market. On the other hand, the Asia-Pacific region would showcase the fastest CAGR of 13.3% during the forecast period. This is because the region is home to several emerging economies, such as China, India, Japan, and South Korea, which have witnessed significant growth in their IT and telecom, BFSI, healthcare, and manufacturing sectors in recent years.

Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/53907

Leading Market Players-

• Oracle Corporation
• Kyocera Document Solutions Inc.
• Exela Technologies, Inc.
• Open Text Corporation
• Konica Minolta, Inc.
• Xerox Corporation
• IBM Corporation
• Adobe Inc.
• Hyland Software, Inc.
• Microsoft Corporation
• Xerox Corporation

The report provides a detailed analysis of these key players in the global electronic data management market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting the business performance, operating segments, product portfolio, and strategic moves of the market players.

Trending Reports in ICT & Media Industry:

Cloud Microservices Platform Market Expected to Reach $6.4 Billion by 2031

Machine Learning in Pharmaceutical Industry Market Expected to Reach $26.2 Billion by 2031

AI Training Dataset Market Expected to Reach $9.3 Billion by 2031

AI Training Dataset Market Expected to Reach $9.3 Billion by 2031

Industry 4.0 Market Expected to Reach $618.4 Billion by 2031

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/information-and-communication-technology-and-media
Follow Us on Blog: https://www.technologyplz.com/

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg