Content Services Platforms Market is expected to rise from its initial estimated value of USD 22.69 billion to an estimated value of USD 110.26 billion by 2026, registering a CAGR of 21.85% in the forecast period of 2020-2026. Content service platform is software that is based on SaaS and helps the user to create, collaborate, and share audio and video based content.
Data capture, document and record management, workflow management, indexing are some of the services that are available in the content service platform. Today, content service platform are widely used in organization due to features like vendor invoice management, contacts management, information management etc. Increasing adoption of Smac technology is the factor fuelling the content service platform market.
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Major Market Competitors/Players: Global Content Services Platforms Market
Few of the major competitors currently working in the content services platforms market are Microsoft, IBM Corporation, Hyland Software, Inc., Open Text Corporation, Box, Laserfiche, Adobe., M-Files Inc., Nuxeo, Newgen Software Technologies Limited, Fabasoft, Micro Focus, Everteam, DocuWare Corporation, Oracle, Alfresco Software, Inc., GRM Information Management, SERgroup Holding International GmbH, Objective Corporation Limited .
Segmentation: Global Content Services Platforms Market
- By Component (Solutions, Services), Deployment Type (0n-Premises, Cloud)
- By Organization Size (Small and Medium-Sized Enterprises, Large Enterprises)
- By Vertical (Banking, Financial Services, and Insurance, Government and Public Sector, Healthcare and Life Sciences, Energy and Utilities, IT and Telecom, Education, Manufacturing, Legal, Others)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Competitive Analysis: Global Content Services Platforms Market
Global content services platforms market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of content services platforms market for global, Europe, North America, Asia Pacific and South America.
Market Drivers:
- Increasing demand to provide better customer experience is driving the growth of this market
- Increasing usage of Smac technologies among population is driving the market
Market Restraints:
- Growing awareness about data privacy and security is restraining the growth of this market
- Increasing arrangement of CSP strategy with the organization initiative is restraining the growth of this market
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Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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Related Reports:
The global Content Services Industry size is expected to grow from USD 22.6 billion in 2018 to USD 60.3 billion by 2023 at a Compound Annual Growth Rate (CAGR) of 21.7% during the forecast period.
The major factors driving the growth of the market are increasing need of enterprises to effectively use enterprise data, facilitate better collaboration among geographically dispersed teams, better control over information, and alignment of content strategy with business goals.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=334475The Content Services Industry includes major vendors, such as Microsoft (US), Hyland (US), OpenText (Canada), Box (US), Laserfiche (US), Adobe (US), IBM (US), M-Files (Finland), Nuxeo (US), Objective (US), Fabasoft (Austria), Micro Focus (UK), GRM Information Management (US), Everteam (France), DocuWare (Germany), Alfresco (US), Newgen (India), SER Group (Germany), and Oracle (US).
Key players such as Hyland, OpenText, Box, and M-Files, have majorly adopted many growth strategies, such as new product launches, acquisitions, and new expansions in different countries to increase their product portfolios and grow further in the CSP market.Hyland offers OnBase flagship product in the CSP market, along with other products, such as ShareBase and AirBase.
OnBase is a single enterprise information platform that manages content, processes, and cases deployed on-premises and cloud or both.
Hyland delivers its products and services either directly or through an extensive partner network.
The company has a strong presence in the market and offers a broad set of product portfolio for CSP customers, which is evident from the number of acquisitions it has made in recent years.
The major factors driving the content services platform market include the growing adoption of social, mobile, analytics, and cloud (SMAC) technologies and the proliferation of digital content across enterprises.- Enterprise Content Management has always pursued the mission of achieving a vast array of content -related operational goals with the usage of a centralized platform.
The content services platforms (CSPs), on the other hand, apply a new approach, which is focused less on storing the documents centrally but more on the strategy of how an enterprise can deal with their growing content, data, and document needs.
While the ECM intends to achieve its operational goals with a single system, CSPs employ a robust suite of strategy and integrated technology to accomplish these goals.- The organizations that have traditionally relied on the Enterprise Content Management (ECM) solution for their content lifecycle management, these solutions have been fulfilling the promise by managing the content end -to -end, right from the creation to disposition.
Besides, the data breaches have also led to an exponential rise in costs and loss of valuable customer information.
These kinds of implementations are widespread across large-sized enterprises.- For instance, according to Cisco Systems in 2022, the data volume of worldwide consumer IP traffic is expected to reach 333 exabytes per month at a 27% compound annual growth rate.
Besides, in 2019, according to Verizon Communications Inc., the global accommodation industry experienced 125 cybersecurity incidents in total, and professional services and the public were the most targeted sectors with 7,463 and 6,843 reported incidents respectively.- Deploying on-premises allows users to keep the solution in-house and grow the solution as it makes sense for the organization.
