Document management market shows strong growth

Although the market isn’t going to repeat its 2000 performance when it registered 89% growth, analyst group IDC is predicting continued high performance.

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By  Greg Wilson Published  October 7, 2001

The US economic slowdown isn’t enough to stop growth in the worldwide document and content management sector. Although the market isn’t going to repeat its 2000 performance when it registered 89% growth, analyst group IDC is predicting continued high performance.

According to IDC statistics gathered in 2000 and the first quarter 2001, the document and content management technology market racked up an impressive 47.2% growth.

IDC predicts the market worth will leap from $2 billion in 2000 to approximately $14 billion in 2005.

The events of September 11th are likely to impact on some companies purchasing plans. However, it is unlikely that companies will cancel proposed projects during the next three quarters.

Consequently, the market is expected to bounce back in 2002 and into 2003-05.

“Content management and related technologies are critical to the management of today's businesses,” said Susan Feldman, director for IDC's Document and Content Technologies program.

“Despite the economic downturn, we expect this market to grow significantly in the next three to four years, gradually levelling off as this market moves from its emerging status toward maturity.”

According to IDC, neither document nor content management software sustained little damage from the economic downturn in the first part of 2001, as both of these technology areas are consider ‘critical’ to a company’s effectiveness. Hence the purchase and implementation of document or content management systems cannot be put off indefinitely, stated the IDC report.

IDC expects heavy investment by government agencies in technologies that support intelligence work. These include technologies for building and retrieving from large databases and repositories of information in multiple formats. They also include pattern matching, trend identification, and retrieval technologies that were already coming to market.

This investment will spur development of the next generation of information systems that will be of interest to enterprises for competitive intelligence as well as for mining their own data.

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