The Global Knowledge Management Solutions Market Is Predicted to Reach to US$ 25,470 Million in 2022, Due to High Adoption of Intelligence Process Automation in BFSI (Banking, Financial services)
Companies are adopting KM solutions extensively to share data across their organizations for better decision making. In addition, other responsive design technologies are being used to deliver content to other channels, which is expected to lead the future Knowledge Management Solutions Market. For example, Bloomfire, a knowledge sharing company, has introduced the latest integration, the Slack app, to improve its knowledge sharing technology platform. The company’s new offerings improve the way employees share knowledge by providing instant notification of new content directly from the team’s Slack channel.
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Knowledge Management Solutions Market is fragmented with the Presence of Global and Regional Players
Some of the key participants in global knowledge management solution market are Bloomfire, CSC (American Productivity & Quality Center Inc.), EduBrite Systems Inc, Ernst & Young (Capgemini), IBM Global Services, Interwoven Inc. In September 2017, IBM Global Services launched the new high-powered analytics system for faster access to data science. This system, which comes with a variety of data science tools built-in, allows data scientists to get up and running quickly to develop and deploy their advanced analytics models in-place, directly where the data resides for greater performance
The high risk of data breaching can cause security issues, which is a possible factor that is restricting the adoption of this solution in the market. However, developments in authentication and encryption systems to provide secure access to knowledge management solutions is expected to provide solution to the restraining factors of knowledge management solutions market.
Information practices and learning strategies are gaining acceptance in the field of education, which is giving an opportunity for this Knowledge Management Solutions Market . Numerous educational institutes have started using the knowledge management solutions for various activities such as admission process, analytical approach in teaching methodology, maintaining alumina’s data and many more.
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BFSI is anticipated to be the Dominant Segment during the Forecast Period, 2018-2026
The growth of financial services over the last several years have made paper-based work too redundant and now this sector is depending on knowledge management solutions for data sharing across the organization, to permit authorized access to sensitive information while blocking unauthorized access and to analyze potential investments. These solutions are helping the financial firms to maintain knowledge assets in a more systematic way which is creating a competitive advantage for these firms.
North America to Remain the Dominant Region during the Forecast Period, 2018-2026
The presence of a number of banks and large financial institutions in this region has made North America the largest market share holder for knowledge management solutions market. Also, the increasing number of startups with innovative software and solutions are growing the popularity of knowledge management solutions in U.S.
- Knowledge Management Solutions Market – By Offerings
- Knowledge management process
- Knowledge management systems
- Knowledge Management Mechanism and Technologies
- Knowledge Management Infrastructure
- Knowledge Management Solutions Market By Organization Size
- Large Enterprises
- Market By Application
- IT & Telecom
- Financial Services
- Knowledge Management Solutions Market By Region
- North America
- Rest of North America
- The UK
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Southern Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
- North America
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