The research firm also expects the market, currently valued at US$102 million, to cross the US$200 million mark before the end of this decade.
Sharon Tan, Asia-Pacific market analyst at IDC, said in a media statement: "Much of the dust of the recent years' acquisitions have settled in 2004, although there are still a number of smaller acquisitions aimed generally at rounding out one's product range.
"Despite the hype about enterprise content management (ECM) in the past year, we see that demand for departmental level implementations have not decreased."
Tan noted that some of the key drivers for the ECM market include government initiatives, such as e-government projects and digital archiving systems for government documents, and compliance-related spending.
India looks set to be the chief engine of the forecast growth, registering the highest five-year CAGR of 27.7 percent, according to IDC. Australia and Korea remain the largest markets at US$29.9 million and US$27.6 million, respectively.
The top five vendors in the region's content management market--which include IBM, FileNet, Interwoven, EMC (Documentum) and Open Text--collectively account for 46 percent market share in 2004.