Ocean View, DE -- (SBWIRE) -- 06/09/2020 -- The global electronic document management system market would likely witness a flourishing period of growth in forthcoming timeframe. Increasing SaaS (Software as a Service) based solutions' penetration combined with the growing adoption of cloud-based computing is expected to drive industry demand over the forecast time period.

These solutions are being utilized by enterprises to make various business operations easy and to manage effectively their documentation requirements. The inclusion of effective document management solutions along with smartphones coupled with the rising trends of BYOD are further fueling technology growth throughout numerous organizations.

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Software based solution providers in the global electronic document management system market provide network-based, desktop-based and cloud-based solutions for effectively managing the needs of business documentation.

Meanwhile, the partnership between software developers and service providers is also increasing the scope for new possibilities for combining new functionalities in the document management solutions

Furthermore, elimination of paper-based documentation techniques and effective management of workflow operations in the government sector is facilitating numerous growth opportunities which is likely to fuel the global electronic document management system market share by 2024.

On-premise deployment model in electronic document management system market is anticipated to witness growth over the projected time period. This growth can be attributed to the rising use of such solutions for operations that are associate to a vast number of documents having large file sizes.

Additionally, cloud-based solutions seem to be apt for users who have an inadequate workforce and customers that use remote solutions. Growing implementation of solutions that are cloud-based can be anticipated owing to the low subscription cost along with easy information accessibility and storage.

The market demand for global electronic document management system market across the government sector is estimated to grow over the forecast timeframe. Government regulations along with numerous initiatives associated with the information storage protocols are anticipated to offer lucrative growth opportunities to the electronic document management system market.

The deployment activities are rising across various industry verticals like BFSI, medical, education, commercial and government.

Furthermore, tremendous growth opportunities in the medical industry due to the regulatory mandates as well as the heavy presence of health-based ERP systems is likely to further drive the market share.

Growing demand for cloud-based storage and increase in volume of data is anticipated to impel the APAC market share over the forthcoming years. The increasing prominence of SaaS solutions combined with favorable government regulations have further contributed to the regional industry demand.

The presence of numerous prominent industry players along with the growing adoption of these solutions across medical stores and BFSI are further driving the industry of Europe and North America to grow.

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Oracle Corporation, Zoho Corp., MasterControl, DocSTAR, DropBox, Ideagen PLC, eFileCabinet, CGI Group, Inc., Adobe Systems, Inc., Google, Inc., and Alfresco One Software are some of the prominent industry players operating in the electronic document management system market.

These electronic document management system market players are further investing in R&D activities to develop innovative as well as advanced technological solutions, that will be integrated into existing IT platforms.

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