According to a new market report pertaining to the global electronic records management solutions market published by Transparency Market Research , the global electronic records management solutions market is projected to reach value of ~US$ 8.2 Bn by 2027. The electronic records management solutions market is projected to expand at a CAGR of ~10% from 2019 to 2027. Growth of the market can be attributed to the growing emphasis on retaining historical company records. Over the forecast period, Asia Pacific is anticipated to dominate the electronic records management solutions market at a CAGR of ~11%. In terms of revenue share, the electronic records management solutions market is dominated by North America, followed by Europe. In 2018, the healthcare segment was valued at ~US$ 531 Mn in the global electronic records management solutions market, and is expected to see an opportunity of ~US$ 695 Mn in terms of revenue from 2019 to 2027, reflecting a CAGR of ~10% during the forecast period.
Growing Emphasis on Retaining Historical Records and Large Amount of Information Generated to Supplement Growth
Companies are concerned about managing, storing, and tracking electronic documents or records. Hence, they are now moving toward electronic records management solutions. This helps in centralizing unorganized documents and reduces the overhead costs of companies, which is creating an opportunity for the growth of the electronic records management solutions market.
The amount of information is increasing with the growing number of enterprises, which has led to steep demand for electronic records management solutions, as they provide coordination and control over the flow of documents in a protective and efficient manner. Additionally, it helps in data protection, records management, and recovery services. This is expected to create an opportunity for the electronic records management solutions market.
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Electronic Records Management Solutions Market: Regional Outlook
In terms of region, the global electronic records management solutions market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific is expected to dominate the electronic records management solutions market during the forecast period, with Singapore and India being the major markets in the region. The electronic records management solutions markets in Asia Pacific, Europe, and South America are also expected to expand rapidly during the forecast period.
The report provides in-depth segment analysis of the global electronic records management solutions market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries that hold growth opportunities or account for significant shares has also been included as part of the geographic analysis of the electronic records management solutions market.
