Global Document Management Systems Market to reach USD 12.94 Billion by 2027.Global Document Management Systems Market is valued approximately at USD 5.5 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 13% over the forecast period 2021-2027. The document management system is a process used to track, capture, and store e-documents, such as word processing files, PDFs, and digital images of paper-based content. Growing need to streamline business operations and advantages of digitalizing content across ventures are the factors which are driving the growth of Document Management Systems market. Furthermore, growing investment and policies from organizations to reduce paper wastage will be anticipating the growth of market in forecasted period. For instance: in February 2020 Agiloft has launched new Agiloft AI Engine, inbuilt with AI capabilities for contract management and an open AI integration which permits customers to incorporate custom-built AI tools. This strategy will strengthen the company's presence in this market. However, the cost of implementation is high as compared to other expenses may impede market growth over the forecast period of 2021-2027.

Global Document Management Systems market analysis on basis of region which includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a significant region across the world in terms of market share due to developed infrastructure and increase in demand for digitalized technologies in the region. Whereas Asia Pacific is anticipated to exhibit the highest growth rate over the forecast period 2021-2027, because of developing strategies for minimizing cyber-attacks in the region.
Major market player included in this report are:

OpenText Corporation
Xerox Corporation
Canon Inc.
Ricoh Company Ltd.
IBM Corporation
eFileCabinet Inc.
SpringCM
Oracle Corporation
Alfresco Software Inc.
Hyland Software Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Offering
Solutions
Services
By Deployment Mode
On-premises
Cloud-based
By Organization
Small and Medium-sized enterprises (SMEs)
Large Enterprises
By Application
BFSI
Government
Education
Healthcare
Corporate
Industrial Manufacturing
Retail
Other
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Document Management Systems Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors