Global Content Services Platforms Market– Industry Trends and Forecast to 2029

Global Content Services Platforms Market, By Component (Solutions, Services), Deployment Type (0n-Premises, Cloud), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), Business Function (Human Resource, Sales and Marketing, Accounting and Legal, Procurement and Supply Chain Management), Vertical (Banking, Financial Services, and Insurance, Government and Public Sector, Healthcare and Life Sciences, Energy and Utilities, IT and Telecom, Education, Manufacturing, Legal, Others) – Industry Trends and Forecast to 2029.

Content Services Platforms Market Analysis and Size

Digitization is proving to be a boon for the global economy. Developing economies are reaping more significant benefits from this concept than developed economies. But it comes as no shock that digitalization has no bounds in the present scenario. One such benefit of digitalization is the emergence and deployment of content service platforms. These are based on the shared repositories of API that provide access to a range of content.   

Global content services platforms market was valued at USD 45.08 billion in 2021 and is expected to reach USD 186.47 billion by 2029, registering a CAGR of 19.42% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Content Services Platforms Market Scope and Segmentation

Market Definition

From the name itself, it is clear that the content services platform offers an interface where the parties can connect via video call, audio chat, share screen to display necessary documents and create and collaborate for business processes and operations. Content service platforms offer services and micro services to exploit diverse content types and serve multiple customers across organizations.

Content Services Platforms Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• The trend of SMAC

Growing awareness about the benefits of Social, Mobile, Analytics, and Cloud (SMAC) solutions to maximize customer satisfaction, streamline business processes and gain deeper business insights positively influences the market growth rate. Further, features of content services platforms such as portability, security, reliability, and scalability will spread positive word of mouth in the global territories.

• Increased adoption of end-to-end cross-platform solutions

Businesses require solutions that integrate with their existing infrastructure without interfering with previously implemented, successful technology. A complete system includes various integration features that let companies pool data to support staff decision-making. Nevertheless, the onset of the digital wave and the always rising market for e-commerce market are driving up demand for single-source and cross-platform content services platform solutions.

Furthermore, the factors such as rising urbanization, industrialization and mounting need to extract in-depth insights from growing volumes of data and achieve benchmarking during the forecast period are some other important market drivers. Additionally, rising investment by the enterprises on integrated technologies combined with growth and expansion of end user verticals are anticipated to drive the market's growth rate.

Opportunities

• Rising adoption of advanced technologies

Cloud computing, artificial intelligence, and platform-as-a-service technologies will truly benefit the market in the long run. Advanced analytics offered by such technologies would help make business faster and critical bottom-line decisions during uncertainties.

• Increasing trend of digitalization

Additionally, the increasing trend of digitalization further offers numerous growth opportunities within the market. The rising number of data processing activities, increased penetration rate of smartphones and other consumer electronics and complete digitization of operations will also work in favor of the market.

Restraints/Challenges

• Data integration issues

The integration of content services platforms with the existing systems can be a long and cumbersome process. Technology integration and implementation seems easy and flexible on paper and in theory, however is much complex when installed practically. To adopt or deploy such technologies, organizations have to go a complete transition in their IT systems that may involve data migration, consolidation of redundant IT systems and much more.

• Lack of technical expertise

Dearth of expert knowledge and technical expertise and lack of awareness especially in underdeveloped economies will create hurdles for the market in regards to the smooth growth in the market value. Complications in handling data post mergers and acquisition can be quite challenging. If not done in the right way, it might bring reputational damage to a great extent. Further, lack of skilled professionals combined with a slow adoption rate in the developing economies will again hamper the market growth rate.

This content services platforms market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the content services platforms market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Content Services Platforms Market

The COVID-19 pandemic has positively affected the market owing to the large scale adoption of content based platforms. Several lockdown and movement restrictions during the pandemic promoted the deployment of online content services in both developed and developing economies. Countries such as Germany, France, U.S., China and India are already mandating non-essential corporate personnel to work virtually which has already become a trend called as work from home. Content services platforms have also been accepted by a range of industries during the pandemic such as healthcare, education, travel and tourism and others.

Recent Developments

• Box announced Box Canvas in April 2022. Box Canvas is a component of Box's bigger plan to provide a solution that controls the life cycle of an organization's most critical information. In addition to creating material and engaging, this also has capabilities for eSignatures, publication, statistics, and much more. Customers can now communicate graphically in real time or sequentially while remaining on the Box platform thanks to the new capability

• Hyland debuted Content Services and Intelligent Automation in April 2022. With the totally revamped Web Manager, which offers increased security, user control, and improved analytical insights, organizations can now synchronize end-to-end processes.

• Healthcare firms may provide smooth client journeys through customized and secure digital interactions thanks to Adobe Experience Cloud, which was introduced in March 2022.

Content Services Platforms Market Scope

The content services platforms market is segmented on the basis of component, deployment type, organization size, business function and industry vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component  

• Solutions
• Document and Record Management
• Case Management
• Workflow Management
• Data Capture
• Information Security and Governance
• Content Reporting and Analytics
• Other Solutions
• Collaboration
• Version Control
• eDiscovery
• Services
• Training and Consulting
• Support and Maintenance
• Deployment and Integration

Deployment Type

• On-Premises
• Cloud

Organization Size

• Large Enterprises
• Small and Medium-Sized Enterprises

Business Function

• Human Resource
• Sales and Marketing
• Accounting and Legal
• Procurement and Supply Chain Management

Industry Vertical

• Banking, Financial Services, and Insurance
• Retail and Consumer Goods
• Energy and Utilities
• Government and Public Sector
• Healthcare and Life Sciences
• IT and ITeS
• Manufacturing
• Media and Entertainment
• Telecommunication
• Others

Content Services Platforms Market Regional Analysis/Insights

The content services platforms market is analyzed and market size insights and trends are provided by country, component, deployment type, organization size, business function and industry vertical as referenced above.

The countries covered in the content services platforms market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the content services platforms market due to the presence of major players in this region and growing consumption of digital content all across the region. The prevalence of advanced infrastructure and the surging need for delivering contextualized user experience are other important factors determining the dominance of this region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rising demand for delivering contextualized user experience in developing economies such as China and India. Moreover, escalating IT infrastructure in the region coupled with large scale availability of skilled labor will yet again bolster the growth of the market in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Content Services Platforms Market Share Analysis

The content services platforms market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to content services platforms market.

Some of the major players operating in the content services platforms market are

• Microsoft (U.S.)
• IBM (U.S.)
• Open Text Corporation. (Canada)
• Hyland Software, Inc. (U.S.)
• Box (U.S.)
• Laserfiche (U.S.)
• Adobe (U.S.)
• Oracle (U.S.)
• M-Files (U.S.)
• Newgen Software Technologies Limited. (India)
• Fabasoft (Austria)
• Micro Focus (U.K.)
• DocuWare GmbH (Germany)
• Objective AU (Australia)
• GRM Information Management (U.S.)
• SERgroup Holding International GmbH (Germany)
• KYOCERA Corporation (Japan)
• iManage (US)
• intalio (France)
• Epicor Software Corporation (U.S.)