Document Management Software Market Size, Share, Analysis & Opportunity 2028

Document management software is a type of software that allows users to create, store, organize, and share electronic documents. It typically includes features such as version control, document search, and collaboration tools. Examples of document management software include Microsoft SharePoint, Google Drive, and Dropbox. Some of these software also include workflow automation, document security, and compliance with industry regulations. This software can be used in various industries such as legal, healthcare, finance, and education.

Technology has helped organisations in every way, from planning and documenting operations to improving products. The procedure of manually documenting is laborious and time-consuming. This raises the possibility of human error, which may result in lost or damaged files.

Therefore, firms usually use effective document management software to automate this procedure. It allows users to read, store, and alter documents in a variety of formats, including PDFs, audio, and video files. It also handles additional duties like document production, dissemination, and archiving. It has made digital file organisation possible, assisting businesses in producing effective documentation.

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Growing Demand for Automated Workflow to Facilitate Market Expansion

Automation has facilitated reduction in errors, improvement in quality and reduction in time in various processes. Document management software with automated workflow offers efficient operational workflow. Moreover, it reduces costly paper handling with smart routing of documents and saves time and money by reducing the need of photocopying, hand delivery and repetitive dropping. It also enables automated distribution, printing and overall document control. By centralizing documents and using automated workflow technology, it can timely route documents to stakeholders. The migration to automated workflow from manual workflow is pushing the demand of document management software.

Competition Tracking

The key players profiled in the report are

  • Toshiba Corporation,
  • IBM Corporation,
  • OpenText Corp.,
  • Asite, Ideagen,
  • Alfresco Software,
  • MasterControl,
  • Computhink,
  • eFileCabinet,
  • OfficeGemini,
  • Adobe Systems Incorporated,
  • SmartFile,
  • Lucion Technologies,
  • Intranet Connections,
  • FOLDERIT and
  • LogicalDOC.

Disaster Recovery and Better Backup to Spur Demand for Document Management Software

Document management solution includes disaster recovery and data backup plan. With digital archiving, paper documents are protected from various types of disasters. In addition, with this software, documents are easily traceable and can be conveniently tracked within different ranges of criteria. Moreover, since the documents are stored centrally, they do not get misplaced after viewing. They can be digitalised as well as archived during their entry point into the system.

Segmental Snapshot of the Global Document Management Software Market

By component, the software segment is expected to grow at a higher rate and is expected to lead the global document management software market in the coming years. With respect to services, professional services are gaining high traction.

With respect to deployment, cloud is gaining high steam owing to ease of access and convenience at any point in time. Cloud based deployment is expected to showcase revenue sales of over US$ 6 Bn by end of the assessment period.

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Market Segmentation

By Component

  • Software
  • Services
    • Professional Services
    • Managed Services

By Deployment

  • On Premise
  • Cloud Based

By End User

  • Healthcare
  • Retail
  • Government
  • BFSI
  • Education
  • Legal Service Firms
  • Other

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Middle East and Africa
  • Asia Pacific
  • China
  • Japan

Table of Content

1. Executive Summary

1.1. Market Overview

1.2. Market Analysis

1.3. FMI Analysis and Recommendations

1.4. Wheel of Fortune

2. Market Introduction

2.1. Market Definition

2.2. Market Taxonomy

3. Market Background

3.1. Macro-Economic Factors

3.2. Forecast Factors – Relevance & Impact

3.3. Value Chain

3.4. Market Dynamics

3.4.1. Drivers

3.4.2. Restraints

3.5. Opportunity Analysis

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Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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