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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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Kidney Patients Back Bipartisan Bill to Expand Disability Employment

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U.S. Representatives Hoyer and Sessions Lead AbilityOne Modernization Bill

Kidney Disease and Jobs are Focus of National Disability Employment Month

WASHINGTON, Oct. 23, 2026 /PRNewswire/ — The American Association of Kidney Patients (AAKP), the nation’s oldest and largest independent kidney patient advocacy organization, today announced plans to accelerate national grassroots patient advocacy in support of bipartisan legislation that will modernize the federal AbilityOne program. The American Procurement Improvement Act (APIA), H.R. 10443, is championed by U.S. Representatives Pete Sessions (R-TX) and Steny Hoyer (D-MD). AAKP defines kidney disease as both an American healthcare and workforce issue and fights to expand career opportunities and job protections for all Americans impacted by kidney disease, disabilities, and chronic diseases.

The AbilityOne program creates private sector employment opportunities for over 41,000 Americans with severe vision and other disabilities, including nearly 3,000 American Veterans. In FY 2025, the program generated nearly 48 million direct labor hours, an 8 percent increase and a significant measure of disability employment growth, with workers working and working more hours. AbilityOne delivered more than $4.7 billion in products and services to the Federal government in FY 2025 and drew discouraged workers into the U.S. labor force while supporting greater workforce participation, increasing economic independence, and self-sufficiency. The AbilityOne mission taps the underutilized workforce of people with significant disabilities to deliver high-quality, mission-essential products and services to federal agencies, including the U.S. Department of Defense and the U.S. Department of Homeland Security.

The APIA legislation removes outdated statutory barriers to hiring, retention, advancement, and movement into careers of choice, including emerging fields and new lines of business. It also modernizes federal procurement by aligning AbilityOne with contemporary procurement practices and streamlines procurement processes so the program can respond faster to emerging federal agency priorities. The APIA legislation protects taxpayer interests, strengthens program accountability and stewardship by preserving oversight, transparency, and worker protections while modernizing AbilityOne Commission authorities. The legislation is seen as an opportunity to improve federal procurement and strengthen the federal government’s domestic supplier base.

Over 36 million Americans live with kidney disease, over 600,000 are on dialysis, and nearly 100,000 are awaiting a kidney transplant. Further, interrelated cardiovascular, kidney, and metabolic diseases have impacted more than 25% of the adult population and are a leading cause of death. More broadly, the American Heart Association estimates that 90% of U.S. adults, or about 240 million people, have some degree of interconnected cardiovascular, kidney, or metabolic health conditions. For kidney patients dependent upon status-quo, in-center hemodialysis, burdensome thrice-weekly dialysis sessions force many patients, against their own choosing, into unemployment, disability, and dependency. AAKP believes dialysis-related unemployment, and the associated costs borne by families and taxpayers, is one of the media’s least-reported stories in legacy kidney care. AAKP’s policy agenda focuses on transplant readiness, more opportunities for organ transplants, more flexible, patient-centered home dialysis solutions, and stronger job protections for both kidney patients and living organ donors.

AAKP President Edward V. Hickey, III, a chronic kidney disease patient, stated, “AAKP strongly endorses the American Procurement Improvement Act (APIA) and expresses our deepest gratitude to Representatives Steny Hoyer and Peter Sessions for their bipartisan leadership and commitment to Americans managing disabilities and their efforts to secure meaningful employment opportunities with solid wages. People impacted by disability and chronic diseases face tremendous hurdles to continued employment and return to the workforce – especially America’s proud Veterans. This legislation reflects consensus language among stakeholders, including advocates, employers, and organized labor, and sends a very positive message, amid national economic concerns, that the voices and needs of disabled Americans and their families are heard and not forgotten by the U.S. Congress. We encourage Congress to step up and pass this legislation before the close of the year.” Hickey is a U.S. Marine Corps Veteran, a former senior congressional aide, and has served in appointed roles in two presidential administrations, including the U.S. Department of Commerce (DOC) and the U.S. Office of Personnel Management (OPM). At OPM, he was heavily involved in policy issues related to federal Veterans preference in civil service hiring and expanded federal job opportunities. He currently serves on the American Board of Internal Medicine’s (ABIM) Nephrology Specialty Board and as the Chair of the AAKP Veterans Health Initiative, the largest kidney health outreach program outside of the U.S. Department of Veterans Affairs.

October is National Disability Employment Month, and AAKP and its allies remind elected and appointed government leaders to address health and employment concerns that impact patients, families, and communities. Through multiple partnerships, AAKP leads the kidney community in providing kidney patients and transplant recipients, including Veterans, access to virtual job fairs and employment skills training opportunities. AAKP is currently sponsoring virtual job fairs, in partnership with CareerEco, on January 13, 2027, and May 18, 2027, that will service Veterans and military families. AAKP’s past collaborations have included webinars with Idealist and virtual disability and Veteran hiring fairs with Bender Consulting.

AAKP Vice President and Chair of Policy and Global Affairs Paul T. Conway, a 49-year kidney patient and 29-year transplant recipient, stated, “The AbilityOne program has supported private sector employment for people managing disabilities and chronic diseases for nearly ninety years and reflects the exceptional American values of self-reliance and independence. Representatives Steny Hoyer and Pete Sessions have consistently shown respect for the creativity, talents, and skills of disabled citizens and have dedicated their public careers to expanding job opportunities in the workforce and across the federal supply chain. The American Procurement Improvement Act increases accountability for taxpayer funds and will result in more well-paying jobs for Americans whose desire and capacity to work and contribute are underappreciated.” Conway is a former Chief of Staff for both the U.S. Department of Labor and the U.S. Office of Personnel Management and a former Deputy Secretary for Health and Human Resources for the Commonwealth of Virginia. He has overseen multiple federal and state disability employment, workforce training, and health service programs throughout his public career. He is the past Chair of the U.S. Food and Drug Administration’s Patient Engagement Advisory Committee (PEAC) and serves on the Observational Study Monitoring Board of the Kidney Precision Medicine Program (KPMP) administered by the National Institutes of Health, National Institute of Diabetes, Digestive and Kidney Diseases (NIH/NIDDK).

To advance the APIA, AAKP is working with former U.S. Representative Tony Coelho, Chair of the Partnership to Improve Patient Care as well as the Alliance for Expanding America’s Workforce. Along with AAKP, APIA is endorsed by over 60 national patient and disability organizations, labor unions and employers including the American Association of People with Disabilities, SEIU, Bender Consulting, National Council of SourceAmerica Employers, CEO Commission for Disability Employment, the Arc of the United States, National Organization on Disability, National Down Syndrome Society, National Disability Rights Network, National Federation of the Blind, Melwood Inc., WORK Inc., ORC Industries, Employment Source, Opportunity Center, Inc., PARC, ACHIEVE Human Services, Inc., Human Technologies, InspiriTec, PORTCO Inc, PRIDE Industries, Phoenix, Pueblo Diversified Industries, and the Association of People Supporting EmploymentFirst (APSE).

AAKP, alongside a broad and diverse coalition of patient organizations, transplant experts, and Congressional allies, is also working to secure passage of the Living Donor Protection Act (LDPA), S. 1552/H.R. 4582 and H.R. 4583, in 2026. The bipartisan bill protects living organ donors from job and insurance discrimination based solely on their decision to donate a kidney to save another life, barriers cited most often by potential organ donors. The bipartisan legislation is led by Senator Tom Cotton (R-AK) and Senator Kirsten Gillibrand (D-NY). It was voted out of the Senate HELP Committee on February 26, 2026, with full bipartisan support, the endorsement of AAKP, the larger kidney community, and the American Council of Life Insurance (ACLI).

In 2018, with bipartisan support from Congress and the Trump Administration, AAKP and transplant professionals worked with the U.S. Department of Labor’s (DOL) legal team and the DOL Wage and Hour Division to have DOL issue Family and Medical Leave Act (FMLA) protections for living organ donors, based on the original intent of the FMLA’s Congressional co-sponsors (click here to read the letter and click here to watch the video). Congressional passage of the LDPA in 2026 will codify the DOL’s 2018 FMLA job protections and prohibit insurers from discriminating against living donors. Increased living organ donation, improved transplant readiness among kidney patients, and greater opportunities for transplantation have been national goals for decades and were reinforced in 2019 through the Executive Order on Advancing American Kidney Health.

Follow AAKP on social media at @kidneypatient on Facebook, @kidneypatients on X, and @kidneypatients on Instagram, and visit https://aakp.org/ for more information. AAKP patient advocates advance bipartisan kidney policy including: passage of the bipartisan law modernizing the Organ Procurement and Transplantation Network (OPTN) (2023); lifetime transplant drug coverage for kidney patients (2020); the historic Executive Order on Advancing American Kidney Health signed by President Donald Trump (2019); job protections for living organ donors under the Family Medical Leave Act (FMLA) via the U.S. Department of Labor (2018); and Congressional approval of HIV positive organ transplants for HIV positive patients (2013).

MEDIA CONTACT:
Brendan LaCivita
National and Medical Media Specialist
blacivita@aakp.org
(813) 906-7740

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SOURCE American Association of Kidney Patients

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BioVid Launches Mimetics™, AI Research Audiences Built on How Physicians Reason and Decide

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Modeling physician response patterns and behavior, showing an 80–90% match with real physicians on content, reasoning, and emotion. 

BRISTOL, Pa., Oct. 23, 2026 /PRNewswire/ — BioVid, a life science consultancy, today announced the launch of BioVid Mimetics™, a research platform that gives pharmaceutical teams mimetics: synthetic physician audiences modeled on how those audiences reason and decide. Its respondent models are grounded in BioVid’s proprietary MindSet Modeling™ program, large-scale, multi-specialty surveys of practicing physicians that measure the mindsets shaping how they process information, make judgments, and decide. The models are aligned with secondary data on clinical practice, moving beyond generic AI role-play to model the decision logic behind treatment choices.

Like a mimetic drug, each BioVid mimetic is tested against the original: real physicians.

Prescribing data shows what physicians choose, not why. Pharma teams now face more of those “why” questions than research budgets and timelines can absorb. BioVid Mimetics™ applies the social and behavioral science of clinical judgment to model how physicians interpret evidence, weigh benefit against risk, and decide when they know enough to act.

The name comes from pharmacology, where a mimetic earns trust by doing the work of the original molecule. Every BioVid mimetic is tested against that standard, bringing the firm’s long-standing commitment to science-based research to a new method.

“At BioVid, we’ve always believed that better commercial decisions start with a deeper understanding of human behavior,” said Peggy Hirtle, CEO of BioVid. “Our goal was never simply faster or cheaper respondents. It was to reflect how physicians actually reason, with the same scientific rigor clients already trust from BioVid. Mimetics is a new way to put human understanding to work, never a replacement for it.”

“A synthetic respondent can sound right and still reason wrong. The real test is whether it reasons the way the audience does,” said Marco Barcella, Executive Director, Product & Technology at BioVid. “Where the decision warrants, we run the same study with a human cohort and a mimetic cohort and compare the findings, the reasoning, and the mental and emotional responses directly. Clients see where mimetic findings hold and where human research should lead.”

In BioVid’s validation work to date, mimetic and human cohorts have shown an 80% to 90% match on content, reasoning, and emotion across thousands of parallel tests.

BioVid Mimetics™ is available off the shelf or tailored with a client’s own primary research. It supports message and concept testing, positioning, drivers and barriers, segmentation, and opportunity assessment, and includes:

Mimetic Respondents: Mimetic or hybrid studies, with mimetic fieldwork complete in one to two weeks after receipt of required inputs, followed by a full report and readout from BioVid’s research team.

Mimetic Segments App: Segments that client teams question directly, share materials with, and return to between research waves.

Client Customization: Models tailored with a client’s own research, segment profiles, and CRM data, exclusive to that client and firewalled from all others.

To learn more, visit www.biovid.com/mimetics. 

About BioVid

BioVid is a life science consultancy applying behavioral science and AI to commercial and market access strategy. Its offerings include the CIAIRA™ AI platform, Tumor Worlds™, and BioVid Mimetics™. BioVid is a recognized leader in new product demand estimation, commercial communication optimization, and customer and patient segmentation research.

Visit www.biovid.com.

Media Contact:
Sal Zerilli, PhD, Executive Director, Knowledge and Innovation, BioVid
szerilli@biovid.com | 267.201.4008

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SOURCE BioVid

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Egan-Jones Finds Steady CLO Credit Metrics as Interest Rates Turn Higher

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NEW YORK, Oct. 23, 2026 /PRNewswire/ — Egan-Jones released its monthly report on the collateralized loan obligation (CLO) market, finding that credit metrics across the deals it rates held steady even as interest rates and high-yield spreads moved higher in September. For investors, the publication sets these steadier portfolio measures against a tighter rate backdrop.

Among Egan-Jones’ measures, the weighted average rating score, a gauge of the default risk in a deal’s underlying loans where a lower score indicates stronger credit, has improved over the past year. The share of assets rated CCC+ or lower, the weakest tier of loan ratings, has been stable to slightly lower, with a median of 6.1%. As of September 2026, Egan-Jones rated 1,568 CLO deals.

The steadier metrics come as financing conditions shift. The 5-year Treasury yield rose 60 basis points to 5.09%, its highest close of 2026, and on September 16 the Federal Reserve raised rates by 25 basis points, its first increase since 2023. High-yield spreads widened to 312 basis points from their late-August low, while new CLO issuance totaled 91 deals ($38.2 billion), down 12.5% by count from a year earlier.

Higher rates cut both ways for CLOs, according to the analysis: coupons on the underlying loans reset upward, but so do the interest burdens of the borrowers. Egan-Jones points to rising loss severity on distressed exchanges and other selective defaults, and identifies software loans, pressured by concerns over disruption from artificial intelligence, as the weakest sector in CLO portfolios.

Egan-Jones also compares its ratings with those of other agencies across 20 deals, ranking the tranches where views differ most. On that comparison, Egan-Jones currently tends to take a more positive view of CLO credit quality than other credit rating agencies. A full sample rating report on MP CLO VIII, whose largest industry exposure is High Tech Industries at 15.9%, is included.

Taken together, the findings describe a market in which issuance has eased and borrowing costs are rising, while the credit profile of Egan-Jones-rated portfolios remains stable. Watching where pressures such as software exposure and loss severity are building may help investors assess CLO risk as the rate cycle turns.

About Egan-Jones Ratings
Egan-Jones, an NRSRO founded in 1995, offers timely and accurate credit ratings and proxy services.

Media Contact:
sales@egan-jones.com
+1 212 425 0460

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SOURCE Egan-Jones Ratings Co.

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