International Data Corporation said in it’s first worldwide Big Data technology and services forecast that demand from businesses is expected to grow upwards of $16.9 billion by 2015. In 2010 the market sat at just 3.2 billion.
In a related 2011 report, the Document Management field specifically was predicted to grow from $3.4 billion in 2010 to $5.5 billion in 2015.
|“Software designed to incorporate documents into a more streamlined business workflow represents tremendous opportunity over the forecast period,” said Ron Glaz, program director, Digital Imaging Solutions and Services at IDC. “This market will experience unprecedented growth as users demand more effective device management, paper to digital document management, and output management.”|
Mobility Fuels Growth
Movement into the mobile, smartphone and tablet realm has been large contributors to this growth, as these have created new business opportunities and outputs for companies.
There is now new need for document management and workflow software so that companies can use iPhones and Android phones to conduct business. From this, IDC reports that mobile printing solutions will grow from $68.3 million in 2010 to $1 billion in 2015, a 71.2 percent compound annual growth rate.
In addition, AIIM recently reported that 67% of respondents believe mobile technologies are vital in improving business processes, also fueling the surge in mobile content management.
Other areas that will see growth or have seen growth will include security, authentication and authorization software, IDC reports.
This is because without these tools, companies would not be able to move information around as easily online. Digital document management has remained the largest segment of the industry monetarily.
— iDatix (@iDatix) July 26, 2012