May 25, 2017
Markets and Markets recently estimated that the Cloud ECM market will be worth over $34 Billion by 2022. That is a rather large increase from the $9.7 Billion that is estimated for 2017. The report also estimates a Compound Annual Growth Rate of 28.6% over the next 5 years.
The Markets and Markets report also states that the document management segment of the ECM market will hold the largest share of the growth. They attribute this to the idea of “big data” where we live in a world where more and more content is created and shared electronically. To put this in perspective, it is estimated that there will be over 5,000 GB of data for every person on earth (reminder: there are over 7 billion people on earth.) To blow your mind, even more, that’s nearly 40 trillion GB of data. Now think about the ways that we store information.
The report also mentions the idea of easy and accessible remote access to content that will contribute to the growth of cloud ECM in the market. With the amount of data stored as estimated above, it’s no kidding that the market is expected to grow so quickly.
Over the past few years, we have seen our own customers and clients develop the need for remote access to their ECM content. Few ECM vendors currently have robust enough cloud offerings to truly add value to an organization’s needs. However, SeeUnity technology can enable you to keep your on-premise system, while also allowing your users to have cloud and remote access to their content. In simpler terms, you can utilize cloud technologies, while not giving up the investment you made in an on-premise system.
SeeUnity CEO, Dan Anderson, has addressed these shifts recently through his CEO blog series. Many of our own customers have looked to migrating their content to cloud ECM systems like iManage and NetDocuments through a combination of drivers. Things like a new generation of workers that expect their content to be easily accessible from everywhere at any given time, to the fact that some on-premise systems have lacked in innovation and have stood stagnant for years.
With more ECM vendors jumping on the cloud train, these expected numbers are no shock to us. We are excited to see the shift, and hopefully, we can help organizations find a perfect balance between their on-premise and cloud ECM systems.
For more on how we can help bridge the divide, read our whitepaper!