Content Services Platforms Market by Solution (Document & Records Management, Workflow Management, Data Capture, Information Security, and Governance), Service, Organization Size, Deployment Type, Vertical, and Region - Global Forecast to 2023
The proliferation of digital content across enterprises is expected to drive the overall growth of the content services platform market”
The global content services platform market 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 content services platform market is driven by various factors, such as growing adoption of SMAC technologies and proliferation of digital content across enterprises. However, data privacy and security concerns can hinder the growth of the market.
Services segment is expected to grow at the highest CAGR during the forecast period
With the increasing adoption of content services platform solutions, the demand for supporting services is also growing among end users. Content services platform related services include consulting, integration and deployment, and support and maintenance services. As this market grows, the demand for services is also expected to increase. Moreover, these services help implement solutions in a cost-efficient manner to accomplish business processes within the time frame and budget effectively. Furthermore, services are sometimes provided by channel partners who strengthen the geographical reach of the software vendor. The demand for integration and deployment services is expected to be quite promising in the future, due to the presence of various integration platforms.
BFSI vertical is expected to hold the largest market share during the forecast period
The BFSI industry vertical is one of the most regulated industry verticals. There are a number of regulatory compliances that the BFSI organizations have to adhere with. This industry vertical also happens to be the one which has seen a large number of cyber-attacks in recent times. The BFSI vertical produces large volumes of enterprise content from their daily operations. Content services platform vendors are looking at providing solutions and services based on standardized best-practice processes for improving data security, and lowering operating costs, as well as efficient audit-compliant processes in observation of all relevant regulations.
APAC is expected to record the highest growth rate during the forecast period
The content services platform market in APAC is expected to witness substantial growth, as SMEs and large enterprises in the region are rapidly adopting the content services platforms to ensure that their content management needs are met. Growing economies in countries such as China, Australia and New Zealand, and Japan, provide huge opportunities for the adoption of the content services platform solutions and services across different industry verticals. Meanwhile, North America is projected to hold the largest market size during the forecast period.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the content services platform marketplace.
By company type: Tier 1 - 38%, Tier 2 - 42%, and Tier 3 - 20%
By designation: C-level - 40%, D-level - 35%, and Others - 25%
By region: North America-35%, Europe-27%, APAC- 23%, RoW*- 15%
*RoW includes Latin America and MEA
Major vendors offering content services platform solutions and services across the globe include 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). The study includes an in-depth competitive analysis of these key players in the content services platform market, with their company profiles, recent developments, and key market strategies.
The market study covers content services platform market across segments. The report aims at estimating the content services platform market size and future growth potential across different segments, such as component, solutions, services, deployment type, organization size, vertical, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market, their strengths and weaknesses, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall content services platform market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challe
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