Content Services Platforms Market Size, Share & Trends Analysis Report By Component (Solutions, Services), By Enterprise Size, By Deployment (Cloud and On-premises), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Content Services Platforms Market Size, Share & Trends Analysis Report By Component (Solutions, Services), By Enterprise Size, By Deployment (Cloud and On-premises), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Content Services Platforms Market Growth & Trends

The global content services platforms market size is expected to reach USD 190.59 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 17.3% from 2023 to 2030. Increasing demand for content services platforms owing to their benefits such as easy-to-use interface, improved content management, improved security in cloud storage, enhanced hybrid cloud management, and application integration is driving the market growth. In addition, factors such as rising demand for providing contextualized user experience, growing adoption of social, mobile, analytics, and cloud (SMAC) technologies, the increasing adoption rate of advanced technologies, and the increasing trend of digitalization are expected to contribute to market growth during the forecast period.

The use of digital solutions amid the COVID-19 pandemic has accelerated the adoption of technologies, including artificial intelligence, blockchain, and application programming interface (APIs) in sectors such as IT & telecommunications, retail & consumer goods, and BFSI. Therefore, these industries are anticipated to present numerous opportunities for the growth of content services platforms in the coming years. In addition, lockdown and social distancing restrictions during the pandemic improved the deployment of online content services platforms in developing and developed economies.

Effective content management solutions become paramount as enterprises continue to undergo digital transformation initiatives. Content services platforms help organizations shift from traditional paper-based processes to digital workflows, enhancing productivity and efficiency. Furthermore, the growing adoption of cloud-based solutions has also contributed to the popularity of content services platforms. Cloud-based CSP solutions offer accessibility, scalability, and cost-effectiveness, making them attractive options for enterprises of all sizes. For Instance, in March 2023, Newgen Software Technologies Limited, a software company, announced the launch of Newgen OmniDocs Connector on Salesforce AppExchange. The new content services platform seamlessly combines with Salesforce Sales Cloud, letting users control, manage, utilize, and share organizational content. Integrating the platform with Salesforce will likely enhance the capabilities of both systems, enabling users to leverage their Salesforce investments

even further.

Content Services PlatformsMarket Report Highlights

• By component, the solutions segment accounted for the major revenue share of over 60% in 2022 and is anticipated to maintain its dominance over the forecast period. Increasing adoption of content services platforms by organizations for applications such as records management for compliance, contract management, and in automation of end-to-end document operations is driving the segment growth
• In terms of enterprise size, the large size enterprises segment dominated the market and captured the largest revenue share of over 68% in 2022. Increasing investment in new technologies, and early and rapid adoption of content services platforms by large enterprises is driving the segment growth
• Based on deployment, the cloud segment accounted for significant revenue share of over 53% in 2022 and is expected to continue to dominate the market over the forecast period. The growing need for easier deployment, procurement, operations, and access to new technologies by end-use industries is boosting the segment growth
• In terms of the end-use, the IT & telecommunications sector segment held the largest revenue share of 24% in 2022 and is expected to maintain its position over the forecast period. Growing demand for content services platforms in IT and telecommunications sector owing to ever-increasing volumes of data is fueling the segment growth
• North America captured the highest market share of over 36% in 2022 and is anticipated to retain its position over the forecast period. Rising investment in advanced solutions and technologies and presence of leading market players is major factor behind the market growth in this region

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