IDC predicts massive growth in content & document management market
The content and document management market is expected to be worth US$ 24.4 billion by 2006, says analyst house.
The content and document management market is set to explode over the next four years. According to statistics from IDC, the content and document management space will post 44% compound annual growth rate (CAGR) to reach approximately US$ 24.4 billion in 2006.
“Even the best firms struggle to manage the avalanche of employee, customer, and supplier content across multiple media,” says Ellen Julian, IDC research director and one of the analysts dedicated to IDC’s research on the content and document management services market.
“Consultancies, integrators, and services groups within technology providers are developing robust content and document services practices to help their customers formulate a strategy for managing the influx of content from all sources,” she adds.
IDC defines the content and document management services market as formalised services — including planning and design, implementation, operations, training, and support — that are provided to clients to help achieve effective enterprise content management.
Factors contributing to the strong annual growth rate include the demand for integrated intranets, the need for improved search & navigation functionality and the enterprise need for central or departmental management of content.