Why should your company invest in a Document Management System?
Are you aware of the rapid growth in the document management software market? According to recent research, the global document management system market size was USD 5.00 billion in 2021 and reached USD 5.55 billion in 2022. And that's just the beginning. The market is anticipated to reach USD 16.42 billion by 2029, exhibiting a CAGR of 16.8% during the forecast period.
This significant growth is a result of the increasing need for efficient and secure document management solutions across industries. As the total amount of data created, captured, copied, and consumed globally is forecast to increase rapidly, reaching 64.2 zettabytes in 2020, the demand for effective document management systems is at an all-time high. Furthermore, over the next five years up to 2025, global data creation is projected to grow to more than 180 zettabytes.
Organizations are recognizing the importance of implementing document management software to streamline their workflows and ensure their sensitive information is secure. Document management systems provide features such as access controls, versioning, and audit trails, making it easy for businesses to manage their documents efficiently and effectively.
With such exponential growth expected in the coming years, it's important for companies to consider implementing document management software as a way to stay ahead of the competition and protect their valuable data. Don't be left behind - invest in a document management solution like LuitBiz DMS today and take advantage of this growing market.