In 2021, the content services platforms market was valued at $39.8 billion, and it is projected to acquire a size of $155.8 billion by 2030, growing at a rate of 16.4% from 2021 to 2030. The increase in the implementation of SMAC technologies and the mass creation of digital content across enterprises facilitate market growth, as do the growing trend of mobile workforces, increasing research and development expenditures, and technological advancements.
The content services platforms industry is dominated by case management, workflow management, information security and governance, content reporting and analytics. The demand for training & consulting, deployment & integration, support and maintenance is also expected to rise, resulting in a surge in the market. The pandemic resulted in a 30% increase in the market in 2020 due to mass shifting in digital operations and increased work-from-home trends due to restricted movements.
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| Content Services Platforms Market Outlook by P&S Intelligence |
The cloud-based platform category has captured the largest share, of 55%, in the content services platforms market. It is attributed to the increasing demand for procurement, deployment, operations, and access to new technologies among different end users, which has further resulted in native SaaS and PaaS vendors' market growth. Moreover, traditional companies have also gradually started shifting to SaaS and PaaS solutions, resulting in market expansion. Cloud-based solutions reduce the need for storage on on-premises storage, reduce IT investments, and offer higher scalability.
North America generate the highest revenue, amounting to 30% of the content services platforms market value. The U.S. contributed massively to the North American market, accounting for an 85% share in 2021. The region's key vendors of content services platforms essentially invest in the research and development of new technologies. Moreover, the Chinese market generated 30% of the revenue in the market of APAC in 2021, attributed to a surge in internet traffic, low data prices, and high-speed connectivity in the region.
Artificial intelligence in content services platforms has gained tremendous popularity, primarily for productivity intelligence, security intelligence and content intelligence applications. Market players are making efforts to cater to the rising demand for AI. Moreover, the growing trend of digitization leads to the expansion of the e-commerce sector, facilitating the rise in the demand for single-source and cross-platform content services platforms. Similarly, numerous organizations utilize big data analytics for business intelligence, as content services platforms facilitate extensive data integration.
Thus, the growing trend of digitization, facilitated by high-speed internet connectivity, ls leading to the boom of the market.
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