The global content management market for enterprise businesses is expected to grow by almost 10 percent in the next five years, according a new report from reportlinker.com.
Despite the global Covid-19 pandemic, content management within the enterprise sector is continuing to grow at a rapid pace. The new report estimates a compound annual growth rate (CAGR) of 9.8 percent between 2021 and 2026. In 2026, estimates put market size at $37.7 billion, an increase from $23.6 billion in 2021.
Contrary to many fears, the size of the market has increased during the Covid-19 pandemic. This is likely due to a suddenly increased need to manage more aspects of business remotely as offices closed to protect both workers and clients.
Two related services lead the pack for the fastest growing verticals within the enterprise content management market. IT and ITeS services lead the way, with the highest market share in 2021. Their place at the front of the pack is not likely to change over the next five years. Both involve the technology enterprise businesses use to be able to provide their services remotely or via online channels. The demand for this ability has grown exponentially during the Covid-19 pandemic, accelerating what was already becoming an increasingly popular mode of providing services. All signs point to this trend continuing to grow, especially as more businesses realize there’s no need to pay the overhead of having a brick-and-mortar location in an increasingly online world.
The markets expected to grow the fastest within the study’s forecast period are within the Asia Pacific region: China, Japan, Australia and New Zealand are projected to lead the way in cloud adoption and transforming to more digitalized options.
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