Document Management System Market Size

Global Document Management System Market size was valued at USD 7.8 billion in 2023 and is poised to grow from USD 8.85 billion in 2024 to USD 24.19 billion by 2032, growing at a CAGR of 13.4% during the forecast period (2025-2032).

The growing necessity of automating corporate operations, the benefits of digitizing content for companies, and the growing need to follow compliance regulations drive global document management system market growth. An advanced document management method can automate, combine data of companies, realize new experiences, and reduce expenditures.

Digital transformation is the driving force behind market development. Digital transformation utilizes digital technology to change from manual to automated processes. Most organizations are seeking document management solutions to digitize and enhance their business processes. The World Economic Forum quotes that USD 100 trillion will be added to the global economy with digital transformation in 2025. Additionally, by 2025, platform-driven interactions should enable about two-thirds of the USD 100 trillion at stake with digitalization. Some clients in a firm would require HIPAA or FINRA compliance for their records that they submit to the firm. Document management systems (DMS) must therefore incorporate features that go the extra mile to ensure that they meet all the applicable privacy legislation to protect the firm as well as the data of their clients. Noncompliance can lead to high penalties and legal issues, so it is highly necessary that companies stay up to date and compliant.

How AI is Revolutionizing OCR in Document Management Systems?

Optical character recognition (OCR) software, which digitizes documents into text files and permits searching for information, is part of most document management systems software. Reading the content, interpreting the message, and acting based on the information improve the technology using AI. An AI-powered Document Management System (DMS) can mechanize the processing of invoices by identifying and sending bills to the staff concerned automatically.

• For example, UiPath built a Document Understanding AI solution in November 2024 that combines artificial intelligence (AI) and robotic process automation (RPA) to read and analyze unstructured invoices from photos or PDFs. The technology uses automated extraction, validation, and entry of data into financial systems to drive improved billing accuracy and efficiency.

How Startups Are Enhancing Efficiency in Document Management?

Startups are leveraging cloud, automation, and artificial intelligence (AI) to transform the document management system (DMS) industry. Startups are making document processes more effective, secure, and collaborative. Startups are shaping the future of document management by automating contract processing, compliance, and data access across industries while solving industry-specific problems.

• Pergamin (Poland, established in 2017): Contract generation, editing, and automation become simpler with Pergamin, an e-signature and contract management AI system. Companies can boost productivity, avoid unnecessary paperwork, and automate processes due to their real-time collaboration capabilities. Digital contract lifecycle management is one area that the automotive and property industries get to enjoy. With more than 120,000 customers, Pergamin solidified its hold in the expanding DMS market by raising USD 5.2 million as of 2024 to further its AI functions.

• DocJuris (USA, established in 2017): DocJuris focuses on AI-driven contract automation, which enables in-house legal teams to review and negotiate documents faster. Its system cuts turnaround time and human error through automated workflows, AI-driven clause analysis, and contract templates. DocJuris enhances document accessibility and compliance management by combining legal IT solutions. The company raised USD 11.2 million in investment until 2024, making it a firm that simplifies contract analytics and legal document management for business organizations.