Technavio attributes this growth to digital transformation initiatives that are extending the scope of EIM in the industrial enterprise information management market.
Adoption of information as an asset for process optimization and productivity is another important factor influencing the growth of the enterprise information management market.
Strategic management of organizational information or information governance is a primary driver for the adoption of EIM. A well-designed and unified information strategy is crucial for achieving a competitive advantage in today's information-driven economy.
Correctly implemented information strategy can lead to an increase in organizational decision-making accuracy, process optimization, and threat reduction.
Competitive landscape
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
