The content service platform is SaaS-based software that enables users to generate, collaborate and share audio and video-based content. It is a modern methodology that focuses less on centrally preserving the records, but rather on the strategy of how an organization should cope with the increasing demands for information, data, and documentation. Need for delivering enhanced customer experience, rising automation and agility, and increasing cost savings and return on investment are some of the major growth factors driving the growth of the market.
This industry is expected to be dominated by many developments over the next eight years. In the forecast era, the growing acceptance of social, mobile, analytics and cloud technology and the explosion of digital content across companies are also augmenting growth of the market. Increasing demand to provide better customer experience and surging usage of SMAC technologies is driving the growth of this market. Platforms for content services are a mix of content-related services, servers, microservices and frameworks that facilitate the use of enterprise knowledge on a regular basis
As a result of the increasing application in, banking, financial services, and insurance, government and public sector, healthcare and life sciences, energy and utilities, it and telecom, education, manufacturing, legal, others, the demand for global content services platform market is substantially gaining. Moreover, digitalization of industries, rising internet penetration, and the use of mobile devices is increasing the revenue growth of the global market. Leveraging content services platforms brings with it the necessary flexibility and scalability that is essential for driving business growth
However, the security and privacy concerns for confidential data can hinder the growth of the market. With the implementation of new platforms, the industry is also facing a lack of qualified practitioners who could educate consumers to get the most from analytics tools and use them for knowledge that can be acted upon. However, CSP is gaining recognition as a replacement to enterprise content management (ECM) software and major corporations are concentrating on adopting it. The content services platforms market is expected to evolve fast, as businesses begin to look for solutions that help speed up processes and minimize costs.
The global market for content services platform is segmented on the basis of component, deployment, organization size, and verticals. In terms of components, the content services platform market is bifurcated into solutions, and services. In terms of deployment type, the content services platforms industry is bifurcated into on-premises, and cloud. On-premises is anticipated to grow the fastest during the forecast period. On-premises implementation of CSP involves initial heavy investment by companies but does not involve incremental costs as expected by cloud deployment. A major reason for implementing on-premises deployment across the cloud is security issues associated with sensitive consumer data. Based on the verticals, the market is segmented into banking, financial services, and insurance, government and public sector, healthcare and life sciences, energy and utilities, it and telecom, education, manufacturing, legal, others. BFSI is anticipated to grow at the highest CAGR throughout the forecast owing to the need of better accountability, risk management, operational management.
The global market for content services platforms has intense competition among well developed and new emerging players. Through investing in alliances, mergers, and acquisitions and expanding their markets, these industry leaders seek to achieve a strategic edge over the other participants.
Geographically, the global content services platforms market is categorized into North America, Europe, South America, Asia Pacific, and the Middle East & Africa. North America is considered a mature market in the content services platforms application, owing to the presence of technologically advanced IT infrastructure in the region. Moreover, countries like US and Canada are considered to be the most advanced in adopting new and emerging technologies.
The major players of the global content services platforms market are Box Inc., OpenText Corporation, Oracle Corporation, Everteam, Hewlett-Packard Enterprise Company, IBM Corporation, Adobe Systems Inc., Laserfiche, Hyland Software Inc., and Microsoft Corporation. The companies are engaging in strategic acquisitions such as product launches, R&D, agreements, and collaborations to gain market share. Competition in the market is therefore dramatically stepping up.
Segment Overview of Global Content Services Platforms Market
Deployment Overview, 2018-2028 (USD Billion)
Enterprise Size Overview, 2018-2028 (USD Billion)
- Large Enterprises
- Small & Medium Enterprises
Application Overview, 2018-2028 (USD Billion)
- Campaign Management
- Email Marketing
- Inbound Marketing
- Mobile Applications
- Lead Nurturing & Lead Scoring
- Reporting & Analytics
- Social Media Marketing
End-users Overview, 2018-2028 (USD Billion)
- Telecom & IT
- Discrete Manufacturing
- Government & Education
Regional Overview, 2018-2028 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America