Artificial Intelligence
Enterprise Content Management Market revenue to surpass USD 114 Billion by 2035, says Research Nester
New York, Aug. 09, 2023 (GLOBE NEWSWIRE) — The global enterprise content management market is estimated to grow at a CAGR of ~12.80% over the forecast period. The market is estimated to garner a revenue of USD 114 Billion by the end of 2035, up from a revenue of USD 27 Billion in the year 2022. This growth is attributed to the increasing demand for cloud-based solutions and the increasing adoption of digital content management solutions by healthcare industry. Approximately 30% of the world’s data is generated by the healthcare industry, which maintains patient records, provides treatments, and conducts clinical research.
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ECM platforms also make it easier to comply with healthcare regulations, as they provide better control over who can access patient records, as well as audit trails to track usage. Additionally, they provide a secure environment for sharing files with external organizations, such as insurance companies, and automate data entry tasks to reduce manual errors and save time.
Enterprise Content Management Market: Key Takeaways
- Market in Asia Pacific to propel the highest growth
- The cloud segment to garner the highest growth
- Market in North America to grow at a highest rate
Increasing Need To Manage Data Generated Across A Variety Of Organizations To Boost Market Growth
Companies are increasingly relying on the data they generate to inform their decisions and improve their services. This data can be used to analyze customer behaviors, trends, and preferences, allowing companies to better understand their customers and make more informed decisions. Approximately 95% of businesses state that managing unstructured data is a challenge for their organization, and 96% are investing in big data and artificial intelligence.
A total of 45% of businesses worldwide use cloud computing for at least one of their data processing workloads. As organizations become increasingly data-driven, they need to store, manage, and access large volumes of data quickly and securely. Enterprise Content Management (ECM) solutions enable organizations to store data safely and securely, while also allowing them to access and manage it quickly and efficiently. With automated data management, they can automate tedious manual processes and free up time to focus on more important tasks. Additionally, ECM solutions can provide access control and other security features to help ensure data is not accessed by unauthorized users.
Enterprise Content Management Market: Regional Overview
The global enterprise content management market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rapid Growth in Digital Infrastructure to Drive the Growth in the Asia Pacific Region
The enterprise content management market in Asia Pacific region is estimated to garner the largest revenue by the end of 2035. The reason is attributed to the growing number of digital transformation initiatives in countries such as India and China, including the establishment of smart cities and the growth of digital infrastructure. Chinese digital economy is estimated to be worth USD 6 trillion in 2021, placing it second in the world. Spending on digital transformation in India is expected to reach USD 86 billion by 2026. Digital transformation allows organizations to automate processes, make decisions more quickly, access new markets, and improve customer service. As more organizations in region move towards digital transformation, they are seeking solutions to better manage their digital content. Enterprise Content Management solutions enable organizations to store, manage, and access content in a secure, centralized system, helping them to streamline their processes.
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Increasing Popularity Of Securing Large Amount Of Data To Drive The Growth In The North America Region
The North America enterprise content management is estimated to garner the largest revenue by the end of 2035 due to the rapid adoption of cloud technologies and the increasing need for data security in organizations. In accordance with estimates, the United States suffers from the most data breaches, as 210 million users were affected by data breaches in 2021, compared to 175 million in 2020. The U.S. has reported 817 data breaches since first quarter 2022.
With the rise in cyberattacks, organizations are becoming increasingly aware of the need to protect their data and information. The need for a secure, organized, and efficient way to store and manage data has led to the development of enterprise content management market, which offer organizations a secure way to store and share data. Furthermore, North America’s advanced IT infrastructure provides businesses with the flexibility to scale up or down depending on their needs, ensuring that their data and content is secure and their processes are efficient.
Enterprise Content Management, Segmentation by Deployment
- On-premises
- Cloud
The cloud segment in enterprise content management is anticipated to hold the largest revenue by the end of 2035. Cloud-based solutions are cost-effective, easily scalable, and offer quick implementation, which are some of the key factors driving its adoption among businesses. According to estimates, 58% of company data in the world is stored in the cloud, and cloud data centers consume 3% of energy worldwide. It has also been reported that 92% of large enterprises use multiple clouds.
Additionally, cloud-based solutions often come with a subscription-based fee that can be scaled up or down according to the company’s needs, thereby reducing the need for businesses to purchase and maintain expensive hardware. For instance, OpenText offers a comprehensive suite of cloud-based solutions for managing and archiving enterprise content lifecycles.
Enterprise Content Management, Segmentation by Enterprise
- Small
- Medium Enterprise
- Large Enterprise
The large enterprise segment in enterprise content management market is anticipated to hold the largest revenue by the end of 2035. This is because enterprise content management systems are designed to help large companies store, manage and share large amounts of data. These systems are crucial for companies to remain competitive in today’s digital world, and as the number of companies and the size of their data increases, so does the need for enterprise content management systems.
The increased presence of these large enterprises has created higher requirements for content management solutions due to their larger scale of operations. The number of large companies worldwide was estimated to reach 350,500 as of 2021. Additionally, large companies often have multiple departments and teams that need to access and share the data, so an enterprise content management market can provide the necessary tools and resources to make that possible.
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Enterprise Content Management, Segmentation by Type
- Content Management
- Document Management
- Case Management
- Workflow Management
- Record Management
- Digital Asset Management
- Others
Enterprise Content Management, Segmentation by End User
- Telecom and IT
- BFSI
- Retail
- Education
- Manufacturing
- Media and Entertainment, Government
- Healthcare
Few of the well-known market leaders in the global enterprise content management market that are profiled by Research Nester are Microsoft Corporation, OpenText Corporation, Hyland Software Inc., IBM Corporation, Xerox Corporation, SAP, Objective Corporation, DOMA Technologies, SER Group, Oracle, and other key market players.
Recent Development in the Market
- OpenText Corporation has launched new content services platforms with OpenText Core Content and OpenText Core Case Management. In addition to managing unstructured content, automating processes, and facilitating secure access to content from anywhere, these platforms provide organizations with a comprehensive solution for unstructured content management.
- A digital asset management and content platform company, Nuxeo, has been acquired by Hyland Software, Inc. It is intended to provide Hyland with access to Nuxeo’s enterprise digital content management platform, which is a powerful tool for managing digital content.
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
STOCKHOLM, Oct. 11, 2024 /PRNewswire/ — The following representatives of ASSA ABLOY AB’s shareholders will be members of the Nomination Committee for the 2025 Annual General Meeting:
– Johan Menckel, Investment AB Latour, Chairman of the Nomination Committee
– Mikael Ekdahl, Melker Schörling AB
– Marianne Nilsson, Swedbank Robur Fonder
– Yvonne Sörberg, Handelsbanken Fonder
– Carina Silberg, Alecta
The Chairman of the Board, Johan Hjertonsson, has been co-opted to the Nomination Committee.
The Nomination Committee shall prepare proposals for the Annual General Meeting in 2025 regarding the election of Chairman of the General Meeting, members of the Board of Directors, Chairman of the Board, Vice Chairman of the Board, auditor, fees for the members of the Board including division between the Chairman, the Vice Chairman and the other Board members as well as fees for committee work, fees to the company’s auditor and, if necessary, changes to the instructions for the Nomination Committee.
The Annual General Meeting will be held on 23 April 2025, in Stockholm, Sweden.
Shareholders who wish to submit proposals to the Nomination Committee should send an email to [email protected].
For more information, please contact:Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72 Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68
About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 61,000 employees and sales of SEK 141 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY’s innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.
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Artificial Intelligence
AI in Social Media Market worth $10.33 billion by 2029- Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Oct. 11, 2024 /PRNewswire/ — The AI in Social Media Market is projected to grow from USD 2.20 billion in 2024 to USD 10.33 billion by 2029, at a compound annual growth rate (CAGR) of 36.2% during the forecast period, according to a new report by MarketsandMarkets™. The market is expected to grow due to the rise in the need for more personalized user experiences, optimized advertising, and automated customer service.
Browse in-depth TOC on “AI in Social Media Market”
315 – Tables 63 – Figures320 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2019-2029
Base year considered
2023
Forecast period
2024-2029
Forecast units
USD (billion)
Segments Covered
Product type, Use case, End user, and Region
Geographics covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Companies covered
Major vendors in the global AI in Social Media Market are Google (US), Meta (US), IBM (US), Sprout Social (US), Sprinklr (US), AWS (US), LivePerson (US), HubSpot (US), Microsoft (US), Adobe (US), Baidu (China), OpenAI (US), Hootsuite (US), Qualtrics (US), Brandwatch (UK), Converseon (US), Meltwater (US), Quid (US), Digimind (France), CreatorIQ (US), Aspire.io (US), Lately.AI (US), SocialPilot (US), Copy.ai (US), Flick (UK), Dash Hudson (US), Jasper (US), Upfluence (US), Ocoya (Lithuania), Upgrow (US), StoryChief (Belgium), Genius.AI (UAE), ContentStudio (US), Emplifi (US), Lumen5 (US), Buffer (US), Narrato (India), Mentionlytics (UK), Kapwing (US), Predis.AI (India), Pictory (US), Midjourney (US), and Synthesia (UK).
The major factors driving the market growth of AI in Social Media Market include the introduction of AI-powered deepfake detection in social media to identify and flag altered content. Social platforms are increasingly relying on advanced AI algorithms to detect and flag manipulated videos, images, and audio, addressing growing concerns about misinformation, fraud, and digital deception. Growth in Gen AI-based content creation tools enables brands to create captivating and unique content. These tools empower brands to effortlessly create captivating, unique content at scale, allowing personalized engagement with audiences. The rising demand for highly personalized content and recommendations tailored to user preferences and behavior are shaping the social media market. This personalization boosts user satisfaction, fosters stronger engagement, and increases time spent on platforms, benefiting users and advertisers. Improved collaboration between influencers and brands is boosting the effectiveness of influencer marketing campaigns with AI. AI tools help brands and influencers to better understand the audiences by analyzing data like preferences, behaviors, and trends. This helps both brands and influencers grow their reach and engagement which makes influencer marketing campaigns successful.
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Advent of Gen AI-based content creation tools enables brands to create captivating and unique content.
The rise of gen AI-based content creation tools has transformed social media by empowering brands to create unique content. These tools are powered by advanced language models, enable automated text generation, images, and videos that cover target audiences, and maintain a dynamic presence on platforms. The utilization of gen AI across sectors such as entertainment, healthcare, and marketing agencies is transforming content creation and customer engagement. Gen AI also simplifies content production workflow, reducing time and cost related to traditional content creation methods. Global tech giants are investing heavily in AI technologies to improve user experience, enhance advertising effectiveness, and gain competitive advantages in the AI in social media market.
By Product type, the influencer marketing segment registers for the fastest growing market during the forecast period.
By automating and optimizing influencer marketing, AI social media tools enable brands to make data-driven decisions, reach relevant audiences, and ensure their campaigns are more effective and cost-efficient. AI-based social media tools in influencer marketing assist brands in detecting fraudulent influencers, which can improve the ROI, increase sales, and improve the brand’s reputation. For instance, AI content tools like Lumen5, Canva, Jasper, and Midjourney are major tools for improving influencer marketing strategies by crafting high-quality content.
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By region, Asia Pacific to register the highest CAGR market during the forecast period.
Asia Pacific is a rapidly growing region for AI in social media, compelled by high mobile and internet penetration rates and a young, tech-savvy population. Countries like China, India, Japan, and South Korea are leading the adoption, with social media platforms being central to the region’s social media ecosystem. With the vast amount of content generated in diverse languages, AI in social media is used for content moderation, language translation, and understanding user-generated content, specifically across China and India.
Top Key Companies in AI in Social Media Market:
Some major players in the AI in Social Media Market include Google (US), Meta (US), IBM (US), Sprout Social (US), Sprinklr (US), AWS (US), LivePerson (US), HubSpot (US), Microsoft (US), Adobe (US), Baidu (China), OpenAI (US), Hootsuite (US), Qualtrics (US), Brandwatch (UK), Converseon (US), Meltwater (US), Quid (US), Digimind (France), CreatorIQ (US), Aspire.io (US), Lately.AI (US), SocialPilot (US), Copy.ai (US), Flick (UK), Dash Hudson (US), Jasper (US), Upfluence (US), Ocoya (Lithuania), Upgrow (US), StoryChief (Belgium), Genius.AI (UAE), ContentStudio (US), Emplifi (US), Lumen5 (US), Buffer (US), Narrato (India), Mentionlytics (UK), Kapwing (US), Predis.AI (India), Pictory (US), Midjourney (US), and Synthesia (UK).
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Artificial Intelligence
NTT DATA signs agreement to acquire Aoop and will become a leader in ServiceNow solutions in Latin America
BIELEFELD, Germany and SÃO PAULO, Oct. 11, 2024 /PRNewswire/ — NTT DATA Business Solutions AG, a global unit of NTT DATA, announces that the agreement for the acquisition of Aoop, a leading ServiceNow implementation company in Brazil, has been signed. The terms of the acquisition have been finalized between the companies and will be completed following approval from the Administrative Council for Economic Defense (CADE). Founded in 2017, Aoop supports customers across various industries and is a specialist in the acceleration of automated digital strategies. With Aoop, NTT DATA will expand its operations in the Latin American ServiceNow solutions market, complementing a recent acquisition in the UK focused on strengthening this offering in Europe and the United States.
“With the acquisition of Aoop, we significantly increase our competitive strength in Brazil by offering both SAP and ServiceNow solutions, positioning us alongside market leaders,” says Norbert Rotter, CEO, NTT DATA Business Solutions. “This move will not only secure us a leading position in the fast-growing ServiceNow ecosystem but will also integrates a company with a strong market presence and solid financials to NTT DATA. It will be a significant step in driving our strategic objectives, strengthening our partnership with ServiceNow and our commitment to establishing a Center of Excellence in the region.”
Ricardo Fachin, Managing Director of NTT DATA Business Solutions Brazil adds: “The acquisition of Aoop will solidify our leading position in the Brazilian market. It will enhance synergies with our other Latin American and U.S. operations, accelerating our regional growth. As part of ServiceNow’s global strategy, Brazil will become a significant shoring center for the group. Aoop’s comprehensive portfolio, covering all ServiceNow verticals, will benefit all NTT DATA customers.”
With a strategy focused on driving the future of organizations and providing full lifecycle services, Aoop has completed around 2,500 digital transformation projects and has over 300 professionals certified on ServiceNow solutions. This expertise has led the company to become a ServiceNow Elite Partner in record time. The continuous commitment to excellence and the delivery of innovative solutions have established Aoop as a market reference, integrating intelligent efficiency throughout the entire production chain.
“Aoop leads the ServiceNow market in Brazil. Our integration with NTT DATA Business Solutions will allow us to further expand our solution offerings to existing customers, access new opportunities for joint solutions with SAP customers and accelerate our international expansion,” says Luiz Cesar Baptistella, CEO and founder of Aoop.
The acquisition of Aoop will add 120 customers to the portfolio of NTT DATA Business Solutions, which has been operating in Brazil for 25 years. Aoop will become a subsidiary of NTT DATA Business Solutions – Servicos de Tecnologia Ltda. in Brazil and will operate as an independent company after the acquisition, using the brand name “Aoop, an NTT DATA Company”.
For more information visit nttdata-solutions.com.
About NTT DATA Business Solutions
NTT DATA Business Solutions is a leading global IT service provider focused on SAP with a powerful ecosystem of partners. With more than 35 years of in-depth experience, we enable companies worldwide to become Intelligent Enterprises. We deliver end-to-end solutions that accelerate sustainable growth and success – from strategic consulting and implementation to managed services and beyond. As a global strategic SAP partner, we drive innovation and leverage the latest technologies to support our customers individually and across all industries. Our more than 15,300 dedicated employees in over 30 countries work passionately every day to make it happen.
NTT DATA Business Solutions is part of NTT DATA, a $30+ billion trusted global innovator of business and technology services headquartered in Tokyo. As One NTT DATA we serve 75% of the Fortune Global 100 and are committed to helping customers innovate, optimize and transform for long-term success. NTT DATA is part of NTT Group.
Press Contact NTT DATA Business Solutions
Local
Global
Sofia Baldessar
Sales Operation Director
NTT DATA Business Solutions –
Servicos de Tecnologia Ltda.
1440 Visconde de Nacar Street –
13th floor Curitiba, Paraná, Brazil
T: +55 41 988658826
Email: [email protected]
Jasmin Straeter
Head of Global Communications
NTT DATA Business Solutions AG
Königsbreede 1, 33605 Bielefeld, Germany
T: +49 521 9 14 48 108
Email: [email protected]
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