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Document Management Systems Market size is set to grow by USD 7.11 billion from 2024-2028, Shift from on-premise to cloud-based solutions boost the market, Technavio

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NEW YORK, June 25, 2024 /PRNewswire/ — The global document management systems market size is estimated to grow by USD 7.11 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  15.2%  during the forecast period. Shift from on-premise to cloud-based solutions is driving market growth, with a trend towards rising demand for digitalization. However, data privacy concerns  poses a challenge. Key market players include Adobe Inc., Canon Inc., Crown Worldwide Group, DocuSign Inc., Exela Technologies Inc., FileHold Systems Inc., GRM Information Management Systems Inc., Hyland Software Inc., Inspectorio Inc., International Business Machines Corp., Konica Minolta Inc., KYOCERA Corp., Microsoft Corp., OpenText Corp., Oracle Corp., PandaDoc Inc., Primeleaf Consulting P Ltd., Revver Inc., Ricoh Co. Ltd., and Xerox Holdings Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Document Management Systems Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 15.2%

Market growth 2024-2028

USD 7116.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

12.86

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 40%

Key countries

US, Germany, Japan, UK, and China

Key companies profiled

Adobe Inc., Canon Inc., Crown Worldwide Group, DocuSign Inc., Exela Technologies Inc., FileHold Systems Inc., GRM Information Management Systems Inc., Hyland Software Inc., Inspectorio Inc., International Business Machines Corp., Konica Minolta Inc., KYOCERA Corp., Microsoft Corp., OpenText Corp., Oracle Corp., PandaDoc Inc., Primeleaf Consulting P Ltd., Revver Inc., Ricoh Co. Ltd., and Xerox Holdings Corp.

Market Driver

The global document management systems market is experiencing significant growth due to the increasing digitalization trend in various industries, including consumer goods, healthcare, manufacturing, and retail. This shift towards digitalization makes IT resources more susceptible to cyberattacks, leading to a heightened demand for document management systems as preventative measures. Technological advancements, such as chatbot integration and the BYOD policy, have further amplified the need for robust cybersecurity solutions. The popularity of the BYOD policy, which enables remote work and cost savings, has resulted in an influx of companies offering BYOD solutions, such as VMware’s Workspace ONE. Consequently, industries are integrating digital processes, driving the growth of the document management systems market. 

The Document Management Systems (DMS) market is experiencing significant growth due to the increasing need for efficient and secure document management solutions. Real-time access, alterts, and versioning are key trends in this market. Cloud solutions are popular as they offer convenience and scalability. Corporations and small businesses alike are adopting DMS to manage their documents effectively. Privacy and security are essential considerations. Cybersecurity measures are crucial to protect sensitive information. Markets for DMS are segmented by size, deployment model, and end-user industry. The industry is expected to continue growing due to the increasing demand for digital transformation and automation. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The document management systems market faces significant challenges due to data privacy concerns in conversational AI. With the rise of chatbots and virtual agents, enterprises are adopting these technologies for business simplification. However, cybersecurity and data privacy are becoming major concerns as customers share sensitive information. Regulations are tightening, but cybercrimes persist, raising fears about data misuse and potential brand damage. Organizations generate vast amounts of data, which must be secured against evolving cyber threats and interoperability issues. Data security and integrity are crucial challenges for the document management systems market.In today’s business landscape, effective document management is crucial. However, implementing a Document Management System (DMS) comes with challenges. Data and audit trails are essential for compliance and accountability. Ensuring security and access to the right information at the right time is a challenge. The complexity of modern systems can be overwhelming, especially for smaller organizations. Integration with other business systems is also a concern. Additionally, ensuring data consistency and minimizing errors is a challenge. Cloud-based solutions offer flexibility but come with their own set of security concerns. Overall, selecting the right DMS and overcoming these challenges can lead to increased efficiency and productivity.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This document management systems market report extensively covers market segmentation by  

Component 1.1 Software1.2 SolutionsType 2.1 Large enterprises2.2 Small and medium-sized enterprisesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Software-  The document management systems market is primarily driven by the software segment due to the increasing adoption of advanced software in retail, BFSI, and government sectors. This trend is fueled by the global push towards paperless workplaces, enabling businesses to digitize processes, cut costs, and enhance workflow efficiency. Notable developments include Xerox Holdings Corp.’s electronic document management system launch in March 2022 and DocuSign’s AI-backed live video ID verification tool in July 2023. These advancements are expected to significantly contribute to the software segment’s growth during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Document Management Systems (DMS) market is experiencing significant growth due to the increasing adoption of cloud-based solutions by various industries. IT spending on DMS is projected to expand at a robust rate, driven by the demand for advanced features such as Salesforce’s document management capabilities and Laserfiche’s workflow automation. Indian Bank and Bank of India, among others, are leveraging DMS to streamline their operations and serve their MSME loan segment and large enterprises more effectively. Data privacy concerns are a critical factor influencing the DMS market. Cybersecurity Ventures Report highlights the importance of data security in the digital age. Exela Technologies, Inc, and other DMS providers offer data auditing, real-time alerts, and risk assessment solutions to mitigate data risks. Data minimization is another essential aspect, with virtual learning environments and IoT applications requiring secure data management. AAL solutions and telehealth are emerging sectors driving the DMS market. These industries generate vast amounts of data and require efficient document management systems to manage and secure their data effectively. Overall, the DMS market is poised for substantial growth, driven by the need for advanced document management capabilities, data security, and regulatory compliance.

Market Research Overview

The Document Management Systems (DMS) market encompasses solutions and technologies designed to optimize the creation, management, and dissemination of documents. These systems offer features such as version control, security, and search capabilities, enabling organizations to streamline processes and enhance productivity. DMS solutions are integral to various industries, including legal, finance, and healthcare, where the handling of large volumes of documents is a necessity. The market for DMS is driven by the increasing digitization of business processes and the need for efficient document management. Additionally, advancements in artificial intelligence and machine learning are leading to intelligent document processing and automation, further enhancing the value proposition of DMS solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSoftwareSolutionsTypeLarge EnterprisesSmall And Medium-sized EnterprisesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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UBHOME Collaborates with Qualcomm to Release the Smart Lawn Mower, Co-Creating a New Era of Smart Life

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The 2025 CES in the United States is about to unveil a brand-new chapter in the future intelligent home gardening

LAS VEGAS, Dec. 28, 2024 /PRNewswire/ — UBHOME, a sub-brand of UBTECH Robotics, announced an intelligent service robot in collaboration with Qualcomm Technologies, Inc. The Robotic Mower M10 is a revolutionary smart lawn mower announced at the 2025 International Consumer Electronics Show (CES) in the United States. This product is powered by the Qualcomm® RB1 Robotics Platform, showcases UBHOME’s rich experience in robot research and development, and focuses on solving the pain points of traditional lawn-mowing equipment, providing users with a worry-free and labor-saving smart gardening experience, and creates a new model of gardening intelligence.

User-Oriented: The All-New Convenience Brought by the Smart Lawn Mower to Life

The Robotic Mower M10 is not only a high performance tool but also an upgrade of the smart lifestyle. In response to the pain points of users when using traditional lawn-mowing equipment, this product offers a series of practical functions, bringing brand-new convenience to home gardening:

Wireless and Borderless Mowing: There is no need for cumbersome boundary wire installation anymore. The device relies on accurate environmental perception and navigation technology to independently plan the work area, allowing users to use it right out of the box, saving installation time and energy.

Automatic Mowing, Saving Time and Effort: The device can automatically complete the lawn mowing work according to the preset schedule or real-time instructions, enabling users to manage the lawn care through delegation to the mower.

Wide Coverage and Stable Signal: It supports a large-scale signal connection of up to 130,000 square meters. Even for extremely large courtyards, stable operation can be ensured, and there is no need to worry about signal loss.

Real-time Online, in-control Anytime: Through APP remote control and real-time monitoring, users can adjust the mowing plan or check the device status at any time, managing the courtyard work as they like.

The combination of these functions not only greatly simplifies the complexity of mowing work but also liberates users from repetitive physical labor, allowing them to focus on enjoying the wonderful moments of life.

UBHOME: In-depth Layout in Smart Home

UBHOME is a brand under UBTECH Robotics that focuses on providing smart solutions for families. As a world-leading robot enterprise, UBTECH, with its strong R&D strength and technological accumulation, has successfully launched Walker, China’s first commercial bipedal human-sized humanoid robot. The launch of the Robotic Mower M10 by UBHOME this time is an important step in its layout in the smart home field.

Relying on UBTECH’s technological accumulation in robots and its in-depth understanding of user needs, the Robotic Mower M10 achieves the best mowing effect through environmental recognition and dynamic adjustment. Whether it is complex terrain, steep slopes, or high requirements for fine mowing, it can perform perfectly, demonstrating its excellent technical capabilities and brand commitment.

Powered by Qualcomm Technologies, Facilitating Intelligent Upgrading

As a global leader in wireless technology and edge intelligence, Qualcomm Technologies provides cutting-edge technical support for the Robotic Mower M10, including intelligent edge computing platforms, dynamic path planning, and environmental perception technologies. These technologies ensure that the device can operate efficiently in various environments, providing users with a precise and efficient smart experience. The Robotic Mower M10 utilizes the Qualcomm RB1 Robotics Platform to ensure the superior operation of the Robotic Mower M10 in large-scale courtyards, laying a solid foundation for realizing smart life.

Industry Significance and Trend: Promoting the Development of Gardening Intelligence

With the continuous increase in the demand for home intelligence, the market for smart gardening equipment is in a period of rapid development. As a typical representative of this trend, the smart lawn mower not only meets consumers’ pursuit of a convenient lifestyle but also provides a direction for the transformation of the gardening industry from tool manufacturing to smart services.

The product released by UBHOME not only fills the gap in the high-performance lawn-mowing equipment market but also sets a new industry benchmark. Through the multiple advantages of wireless, real-time connection, and fully automated operation, it endows home gardening with new value, making users no longer regard mowing as a burden but feel the convenience and fun brought by technology.

Innovation Hand in Hand, Co-creating Smart Life

The collaboration between UBHOME and Qualcomm Technologies showcases a strong collaboration of technology and innovation. Both parties are committed to bringing more convenient and efficient life experiences to consumers through technological innovation.

At the 2025 CES, UBHOME and Qualcomm Technologies will showcase the innovative functions and application scenarios of this Robotic Mower M10.

About UBHOME 

UBHOME is a brand under UBTECH Robotics, focusing on providing smart solutions for families. UBTECH is a world-leading robot enterprise dedicated to the research and development and application of artificial intelligence and robot technology and has successfully served more than 900 enterprise-level customers in more than 50 countries around the world.

Media Contact Information
For more information, please contact:
UBHOME Brand Team: mbu-sales@ubtrobot.com 

Qualcomm is a trademark or registered trademark of Qualcomm Incorporated. Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries.  

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SOURCE UBTECH ROBOTICS CORP LTD

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Global Launch of JETOUR T2 i-DM: Reshaping the Hybrid SUV Market

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DOHA, Qatar, Dec. 28, 2024 /PRNewswire/ — On December 25, 2024, the First JETOUR Fan’s Festival and the Launch of T2 i-DM was held in Qatar, themed “Think Future”. During the event, JETOUR launched its user brand “Traveler” in the Middle East and its first hybrid model, JETOUR T2 i-DM. The launch event highlights JETOUR’s commitment to exploring sustainable travel modes and ambition to become the “The World’s Leading Brand in Hybrid Off-road Vehicles” under the “Travel+” strategy.

JETOUR T2 i-DM not only inherits the strengths of T2 series, but also achieves high energy efficiency, high performance, high safety, and high intelligence with its advanced hybrid technology, i-DM. With a maximum combined power of 280kW and torque of 610N•m, T2 i-DM boasts a NEDC pure electric range of 139km and an overall range exceeding 1,000km at just 0.8L/100km, addressing range anxiety and promoting green travel.

Mr. Dai Lihong, executive vice president of JETOUR Auto, emphasized technology’s role in producing world-class products. The launch also introduced “Traveler”, enriching user experience through diverse products and superior performance. This year, JETOUR has ranked third in sales across the Qatari auto market. The Fan’s Festival invited user representatives from across the Middle East to witness the unveiling of “Traveler”, experiencing “Travel+” culture through city tours and co-creation workshops.

JETOUR prioritizes users, listening to their needs and co-creating products, brand, and lifestyle. Through “Traveler,” JETOUR aims to provide richer travel experiences and benefits globally, leveraging the platform to spread the “Travel+” culture worldwide. Mr. Alex Tan, Vice President of JETOUR International, said, “Serving ‘JETOUR users’ and being ‘a user-oriented JETOUR’ are JETOUR’s development philosophy. JETOUR will continue to build a travel community centered around users, cars, and lifestyles, sharing the joy of traveling together with users.”

JETOUR also partnered with Diamond League to promote athletics in Qatar and the Middle East, embodying JETOUR Speed and the brand’s image of breakthroughs and innovations. With T2 selling over 150,000 units globally, T2 i-DM will continue its success to meet customers’ needs and reshape the hybrid SUV market.

The launch of T2 i-DM marks JETOUR’s new journey towards “the World’s Leading Brand in Hybrid Off-road Vehicles.” JETOUR plans to introduce more hybrid and off-road models, providing customers with eco-friendly and diversified travel choices. With its innovative spirit and user-oriented philosophy, JETOUR will lead the global automotive industry towards a more sustainable and smarter future.

SOURCE JETOUR AUTO

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My Date with Rural China—-VOC.com.cn Unveils Season Two of I Am in Rural China

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CHANGSHA, China, Dec. 28, 2024 /PRNewswire/ — Modern China’s rural revitalization strategy is crafting a remarkable narrative of transformation across the countryside, while progressive opening-up policies encourage foreign visitors to delve deeper into the nation’s heartland. On December 26th, VOC.com.cn premiered the second season of its acclaimed series, I Am in Rural China. The show follows Teona Kvartskhava, an international guest, as she explores the villages of Hunan Province, offering viewers a firsthand look at the dynamic implementation of comprehensive rural revitalization. This captivating series invites a global audience to witness the dawn of a new era in China’s rural landscapes, showcasing the country’s evolving countryside to viewers worldwide.

Rice field came as the first surprise. Hunan is the largest rice grower and producer in China. Hunan provides the high-quality and tasty rice. Teona Kvartskhava, a foreigner hardly feeding on rice, was tempted to have plenty of it. In Qunle Village, Lixian County, Changde, she also experienced “Double Rush”, which is a time-honored agricultural event in China. An event that used to call for the joint efforts of all family members, has now become much easier thanks to technology.

Departing from Lixian County for the moment, Teona Kvartskhava embarked on an exciting trip of tastes in Rucheng, Chenzhou, Southern Hunan. Hunan people are keen and expert on peppery food and spicy taste dominates the Hunan cuisine. Hunan is also rich in varieties of peppers. Jingpo town, a well-known town where spicy food prevails. It is a producer of red cluster pepper, officially one of the hottest peppers in China. From the crowded market, to the red and yellow pepper planting base, and then to the modern processing pepper workshop, the small cluster pepper strung up all corners of the town, so that the original ordinary mountain town has become extraordinarily lively and affluent.

Of course, the “star” of the countryside here is not only agriculture, but also culture, which has also blossomed in this ancient land. As the birthplace of papermaking, China has preserved a unique handmade papermaking technique, which is used to make some “special” papers. In Shanghong Village, Liuyang, Teona Kvartskhava was lucky to meet two Chinese masters, who showed her hands-on experiences of “Gushan Tribute Paper” and “Floral Paper”. As the process progresses, the paper took shape in her hands, as if history and culture were meeting in front of her eyes, and became the “first paper” in Teona Kvartskhava’s life.

So,What’s rural China like? It’s about hospitable peasants, about various agricultural produce, about profound history and culture, about colorful intangible cultural heritage. It’s like a book telling numerous absorbing stories. Hopefully Teona Kvartskhava’ll be luckier to visit more villages for their unique interest and charm.

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SOURCE voc.com.cn

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