Content Services Platform Market Forecasts to 2028 – Global Analysis By Component (Services and Solutions), Organization Size (Large Enterprises and Small & Medium Enterprises), Deployment (On-premise and Cloud), End User and By Geography

Content Services Platform Market Forecasts to 2028 – Global Analysis By Component (Services and Solutions), Organization Size (Large Enterprises and Small & Medium Enterprises), Deployment (On-premise and Cloud), End User and By Geography

According to Stratistics MRC, the Global Content Services Platform Market is accounted for $48.9 billion in 2022 and is expected to reach $130.6 billion by 2028 growing at a CAGR of 17.8% during the forecast period. Content services platforms are pieces of software that allow users to produce, collaborate on, share, and save text, video, and audio content. It is a collection of services and micro services that can be represented as distinct applications or as an integrated product suite. Content services platforms share common repositories and APIs in order to exploit varied content kinds and serve many customers and numerous use cases throughout an enterprise. It can manage and retain the metadata of digitised information, as well as sync and transfer files between platforms. Content services platforms were created to meet the increased demand for content by large organisations. They are designed to allow individuals, teams, and workgroups across the enterprise to effectively access content data.

According to Cisco Systems, in 2022, worldwide consumer IP traffic data volume was expected to reach 333 exabytes per month at a 27% compound annual growth rate.

Market Dynamics

Driver:

The trend of SMAC

Increasing awareness of the benefits of Social, Mobile, Analytics, and Cloud (SMAC) solutions for increasing customer satisfaction, streamlining corporate operations, and gaining deeper business insights drives market growth rate. Furthermore, qualities of content services platforms like portability, security, stability, and scalability will propagate favourable word of mouth throughout the world. Furthermore, the impact of cloud computing has led software providers to give their solution or Platform-as-a-Service (PaaS) via the cloud due to benefits such as portability, security, stability, and scalability. As a result, SMAC technologies provide the ideal platform for every enterprise.

Restraint

Data integration issues

The integration of content services platforms with existing systems can be a lengthy and time-consuming procedure. On paper and in principle, technology integration and implementation appear simple and adaptable, but in practise they are far more complicated. To embrace or deploy such technologies, enterprises must undergo a comprehensive change in their IT systems, which may include data migration, consolidation of redundant IT systems, and much more.

Opportunity

Increasing trend of digitalization

The growing trend of digitalization provides several opportunities for market expansion. The growing quantity of data processing activities, increased penetration of smart phones and other consumer devices, and complete digitization of operations will all benefit the market. In addition, niche players may try to broaden their suites with larger providers. Some manufacturers rely on niche companies to develop accompanying applications for their traditional content management technologies. As a result, both small and large providers have the potential to expand their capabilities.

Threat

Lack of technical expertise

For the market to experience a smooth increase in market value, obstacles will need to be removed, especially in underdeveloped nations where there is a lack of expert knowledge, technological expertise, and awareness. It can be difficult to handle data management issues after mergers and acquisitions. If handled improperly, it could severely harm one's reputation. The market growth rate will also be hampered by a shortage of personnel with the necessary skills and a slow rate of adoption in developing nations.

Covid-19 Impact

The COVID-19 epidemic has had a beneficial impact on the market due to the widespread adoption of content-based platforms. Many lockdowns and mobility restrictions imposed during the epidemic facilitated the adoption of internet content services in both developed and developing nations. Countries such as Germany, France, the United States, China, and India are already requiring non-essential company workers to work electronically, a trend known as work from home. Throughout the pandemic, a variety of businesses, including healthcare, education, travel and tourism, and others, have accepted content services platforms.

The large enterprises segment is expected to be the largest during the forecast period

The large enterprises segment is estimated to have a lucrative growth. Large Enterprises use content services platforms to help automate and simplify a number of business procedures. Companies may avoid using paper-based procedures, which can be inefficient and prone to errors, by digitising documents and storing them in a single repository. Content services platforms usually provide workflow automation options, such as sending documents for review and approval, which can help to speed up procedures and reduce the likelihood of errors. Furthermore, content services platforms can boost teamwork and communication.

The IT & telecommunications segment is expected to have the highest CAGR during the forecast period

The IT & telecommunications segment is anticipated to witness the fastest CAGR growth during the forecast period. Rising data volumes in IT and telecoms industries are boosting demand for content services platforms in the sector. Major content service and solution providers, like as Microsoft and IBM, are delivering telecom industry solutions to streamline operations and Business Support System (BbSS), empower the telecom workforce, build and optimise next-generation networks, and revolutionise consumer experiences.

Region with highest share:

North America is projected to hold the largest market share during the forecast period because of the increased use of content services software in the IT, BFSI, and government sectors to improve corporate and customer experience. Various North American economic sectors are investing in the development of projects to adopt emerging technology and undergo digital transformation. Furthermore, rising availability of trained employees and a focus on SMEs and major firms establishing and developing in this region are driving market revenue growth.

Region with highest CAGR

Asia Pacific is projected to have the highest CAGR over the forecast period. Content services platforms are widely used throughout Asia Pacific, with many people using them on a regular basis for a variety of purposes. Content service platforms provide a diverse range of content, such as movies, TV shows, documentaries, and others, which has made them popular among users seeking a diverse selection of content. Demand for content service platforms in India has increased in recent years as Internet and smart phone usage has increased.

Key players in the market

Some of the key players profiled in the Content Services Platform Market include IBM Corporation, Laser fiche, Open Text Corporation, Microsoft, Laser fiche, Nuxeo, Adobe, Objective, Box Inc., Paper Alternative Solutions Inc., International Business Machine Corporation, DocuWare, Fabasoft AG, Hyland Software, Inc. and Kyocera Corporation

Key Developments

In June 2022, Box Inc. announced the enhancement of the Box for Salesforce integration on the Salesforce AppExchange, enabling customers to use Box as the content management solution for signature-based processes and workflows in Salesforce. Customers can send Box files for signature directly from Salesforce by utilizing the capability of Box Sign. New features and developer tools that make it simple for joint customers to establish and execute agreements from any location are also a part of this edition.

In June 2022, Hyland, content services company, released its most recent product upgrades and enhanced solutions to support its clients' journey through digital transformation. The expanded product functionality, which covers various content services provided by Hyland, allows businesses to develop initiatives focusing on the employee and customer experience while gaining from enhanced platform scalability, administration, and user interface features.

In August 2022, OpenText announced the addition of three new solutions to the Salesforce AppExchange. This brought the total number of AppExchange offerings to six and enabled customers of any size to benefit from the governance, productivity, and efficiency of the OpenText content services platform. OpenText Core Content uses a SaaS platform that interfaces with programs like Salesforce to facilitate modern work to assist enterprises in managing information.

In April 2021, OpenText Corporation launched latest content service platform as “OpenText Core Content and OpenText Core Case Management”. These platform offers strong record management, case management, API’s and integration which is simple to deploy and multi-tenant cloud application.

Components Covered:
• Services
• Solutions

Organization Sizes Covered:
• Large Enterprises
• Small & Medium Enterprises

Deployments Covered:
• On-premise
• Cloud

End Users Covered:
• Retail & Consumer Goods
• IT & Telecommunication
• Healthcare
• Banking, Financial Services, and Insurance (BFSI)
• Manufacturing
• Media & Entertainment
• Government & Public Sector
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements