The global electronic records management solution market size was USD 9.28 Billion in 2022 and is expected to reach USD 34.23 Billion in 2032, and register a revenue CAGR of 16% during the forecast period.

The requirement for effective and secure management of electronic records is a major factor driving the market revenue growth. There is an increasing requirement to manage and preserve this data as a result of the volume of electronic records that businesses are producing. Organizations can store, manage, and retrieve electronic documents using Electronic Records Management Solution (ERMS) solutions, which offers a secure and effective method of doing so. In addition, these solutions guarantee adherence to several laws and standards, including the Health Insurance Portability and Accountability Act (HIPAA) and General Data Protection Regulation (GDPR).

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Another factor driving revenue growth of the market is the rising use of cloud-based ERMS. Scalability, adaptability, and cost-effectiveness are just a few advantages that cloud-based ERMS solutions have over conventional on premise ones. In addition, cloud-based solutions allow for remote access to digital documents, which is crucial for businesses with dispersed workforces.

In addition, the demand for ERMS solutions is being driven by rising demand for digitalization across numerous industries. The desire for more efficiency, lower costs, and better customer experiences is driving the shift toward digitalization. Organizations can manage and digitize their records with ERMS technologies, making them readily available and searchable.

Furthermore, the electronic records management solution market revenue growth is due to the rising significance of data security and privacy. Organizations are concentrating more on maintaining the security and privacy of their electronic records as a result of the rise in cyber threats. Organizations can manage and safeguard their electronic data securely with the help of ERMS systems.

Competitive Landscape:

• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• Adobe Systems Incorporated
• OpenText Corporation
• Dell Technologies
• Hewlett Packard Enterprise Development LP
• Alfresco Software Inc.
• M-Files Inc.
• Nuxeo Corporation

The global market is further segmented into type and application:

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
• Latin America (Brazil, Rest of LATAM)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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