Enterprise Information Management (EIM) Market Size, Share, Growth, and Industry Analysis, By Type (Premise and Cloud-based), By Application (Large Enterprises and Small and Medium Enterprises), Regional Insights, and Forecast To 2031

Updated On: 15 April 2024

Enterprise Information Management (EIM) Market Report Overview

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The global enterprise information management (EIM) market size was USD 68400 million in 2021 and market to touch USD 324103 million by 2031, at CAGR 16.6% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the enterprise information management (EIM) market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Enterprise Information Management (EIM) is a set of practices and strategies that organizations employ to effectively manage and govern their information assets throughout their lifecycle. It encompasses various disciplines and technologies to ensure the availability, integrity, security, and usability of enterprise information. EIM involves the systematic collection, storage, organization, integration, analysis, and dissemination of information within an organization. Its primary objective is to provide reliable and accurate information to support decision-making, business operations, and regulatory compliance.

The market is expected to thrive with an excellent growth rate over the forecast due to the increasing volume and complexity of enterprise data, the need for regulatory compliance, the growing importance of data-driven decision-making, and the rise of digital transformation initiatives. Additionally, the market is bifurcated by type, by application, and by regional expansion of the market. Based on by type, premise, and cloud-based services are available in the market. While large enterprises and SMEs are the prominent application segment to boost the demand for the service.

COVID-19 Impact: Pandemic Heightened the Importance of Effective Information Management

The COVID-19 pandemic had a positive impact on the EIM market. It fuelled the demand for remote work solutions and accelerated digital transformation efforts. Organizations emphasized data security and privacy, while implementation and procurement processes were disrupted. Cost optimization became a priority, leading to a focus on cost-effective and cloud-based EIM solutions. While industries experienced shifts in priorities, EIM vendors had to align their offerings accordingly. Overall, the pandemic heightened the importance of effective information management and drove increased adoption of EIM solutions for data management, analytics, and decision-making in a rapidly changing business landscape which will likely aid the market in the future as well. 

Latest Trends

"Trend of Cloud-Based EIM Solutions Inflate the Market Possibilities" 

The EIM market is constantly evolving, and several trends and developments have emerged in recent times such as cloud-based EIM solutions, artificial intelligence (AI), and machine learning (ML). The adoption of cloud computing continues to rise, and organizations are increasingly opting for cloud-based EIM solutions. Cloud platforms offer scalability, flexibility, and cost-effectiveness which allow organizations to store, manage, and analyze their data in the cloud while enabling remote access and collaboration. On the other hand, AI and ML technologies are being integrated into EIM solutions to enhance data analytics, automation, and decision-making capabilities. These technologies enable advanced data processing, predictive analytics, natural language processing, and cognitive automation, unlocking valuable insights and improving operational efficiency. Consequently, the enterprise information management (EIM) market growth is expected to enhance in the coming years due to such ongoing trends and developments in the market.

Enterprise Information Management (EIM) Market Segmentation

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• By Type Analysis

According to type, the market can be bifurcated into premise and cloud-based.

• By Application Analysis

Based on application, the market can be divided into large enterprises and small and medium enterprises.

Driving Factors

"Increasing Volume and Complexity of Data Lift the Demand for the EIM Solutions"

The market is primarily driven by the inflating volume and complexity of data. As organizations are dealing with an ever-growing volume and complexity of data. The proliferation of digital technologies, IoT devices, social media, and online transactions generate vast amounts of data that need to be managed, analysed, and leveraged effectively. EIM solutions provide the necessary tools and capabilities to handle this data explosion.

"Growing Need for Data-Driven Decision-Making Escalate the Market Growth"

The growth of the market is also surging by the rising demand for data-driven decision-making solutions. In today's competitive business landscape, data-driven decision-making has become crucial. Organizations recognize the value of leveraging accurate and timely information to gain insights, identify trends, and make informed decisions. As such EIM solutions enable the collection, integration, and analysis of data from various sources, empowering organizations to derive actionable insights and gain a competitive advantage.

Restraining Factors

"Complexity and Integration Challenges Can Curb the Market Development"

Although the market is experiencing significant growth, however, it can be restricted due to complexity and integration challenges. Implementing comprehensive EIM solutions can be complex and challenging, particularly for large organizations with diverse systems, legacy applications, and data silos. Integrating and consolidating data from disparate sources and ensuring interoperability between different EIM components can pose significant hurdles.

Enterprise Information Management (EIM) Market Regional Insights

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"North America Leads the Market due to the Presence of Several Major EIM Solution Providers"

As per market research, North America is a dominating region in the market. Also, the region is home to many major EIM solution providers and has a high level of technological innovation and digital maturity. The region's enterprises across various industries, including finance, healthcare, retail, and manufacturing, have been early adopters of EIM solutions to manage and leverage their vast amounts of data effectively.

Additionally, factors such as a strong regulatory environment, a focus on data privacy and security, and a competitive business landscape have further accelerated the adoption of EIM solutions in North America.

Key Industry Players

"Key Players Constantly Innovating & Expanding their Offerings to Meet the Evolving Needs of Organizations" 

With regard to key players, the notable companies in the EIM market stimulate market growth and several other vendors are also offering advanced EIM solutions and services. The market is highly competitive, with players continuously innovating and expanding their offerings to meet the evolving needs of organizations in data management, analytics, content management, and information governance. Organizations evaluate their specific requirements and select a vendor that aligns with their business objectives and provides comprehensive EIM capabilities. Moreover, in terms of market revenue, the top five key players in the market owned the highest enterprise information management (EIM) market share globally.

List of Market Players Profiled

• SAP
• Oracle
• IBM
• Microsoft
• Adobe
• OpenText
• Hewlett Packard Enterprise (HPE)
• Dell EMC
• Techwave
• Deltek
• Hyland Software
• EIM International
• MetricStream
• Bwise

Report Coverage

This report defines the enterprise information management (EIM) market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.