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

Report Overview

The global content services platforms market size was valued at USD 53.95 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 17.3% from 2023 to 2030. Major drivers such as increasing adoption of Social, Mobile, Analytics, and Cloud (SMAC) technologies, rising demand to optimize business processes and improve content security with automated workflows, and the need for regulatory content management for improved operations are attributed to the growth of the content services platforms market. In addition, factors such as increasing adoption of content services platforms for managing and retaining digitized content and related metadata and growing awareness regarding the benefits of content services platforms among enterprises are expected to drive the content services platform market growth.

The outbreak of COVID-19 played a critical role in driving the content services platforms' market growth. Increased inclination towards digitization and surged adoption of technologies such as cloud, artificial intelligence, and API during the pandemic period are attributed to the growth of the content services platforms market.  The growing volume of digital transactions, the proliferation of smart devices, the continued rollout of 5G networks, and the increasing adoption of digital technologies such as robotic process automation, cloud-based systems, and mobile applications, are some of the vital factors leading to the advancement of the content services platforms market.

Component Insights

In terms of component, the content services platforms market is segmented into solutions and services. The solutions segment accounted for the largest revenue share of 60.2% in 2022 and is expected to continue to dominate the market during the forecast period. However, the services segment is anticipated to witness the fastest growth rate of 17.9% during the forecast period. Increasing use of content services platforms such as workflow management & case management, document & records management, content reporting & analytics, data capture, information security & governance, and others owing to their several benefits are driving the segment growth. Content services platforms provide agile solutions for digital work, reduce content sprawl and information silos, improve security and access, create a better user experience for customers and employees, and boost productivity by making content more easily shared.

Enterprise Size Insights

The large-size enterprise segment held the highest revenue share of 68.6% in 2022. Large enterprises are increasingly using content services platforms to ensure content compliance and governance, enable secure information access, facilitate efficient content extraction, simplify content lifecycle, support hybrid records management, and drive contextual engagement, which is propelling the segment's growth.

On the other hand, the small- and medium-sized enterprises segment is expected to witness the fastest growth rate of 18.7% during the forecast period. Factors driving the adoption of content services platforms in small- & medium-sized enterprises are easy installation, low cost, and the high adoption rate of advanced and new technologies.

Deployment Insights

In terms of deployment, the content services platforms market is segmented into cloud and on-premise. The on-premise segment accounted for a significant revenue share of 46.5% in 2022 and is expected to continue to dominate the market during the forecast period. As compared to cloud deployment, on-premise deployment of content services platforms needs high initial investment by enterprises; however, the incremental costs throughout the ownership are not required. Factors such as incremental cost saving and the increasing need to reduce risks of cyber-attacks & data losses are propelling the segment’s growth.

The cloud segment is anticipated to witness the fastest growth rate of 20.3% during the forecast period. The growing use of cloud-based content services platforms owing to their various features such as automation, stacked content library, image and video capability, email updates, and link monitoring is boosting segment growth.

End-use Insights

Based on the end-use, the global content services platforms market is segmented into BFSI, government & public sectors, IT & telecommunications, healthcare, retail & consumer goods, and media & entertainment. The IT & telecommunications segment held the largest revenue share of 23.8% in 2022 and is expected to maintain its position during the forecast period. Increasing volumes of data in IT and telecommunications companies are driving the demand for content services platforms in the sector. Leading content service and solution providers such as Microsoft and IBM are offering solutions to the telecom industry to streamline operations and Business Support System (BSS), empower the telecom workforce, deploy and optimize next-gen networks, and transform customer experiences.

The government and public sector segment is expected to witness the fastest growth rate of 19.3% during the forecast period. The increasing need to manage and transform large volumes of general public data into digital format is proving to be challenging for the public and government entities; hence, it is expected to create major growth opportunities for the market in the upcoming years.

Regional Insights

Asia Pacific is anticipated to develop at the fastest CAGR of 18.6% during the forecast period. The increasing adoption of digitization, expanding IT infrastructure, the vast availability of skilled workforce, and rapid growth of the industries such as BFSI, IT & telecommunications, and government in countries such as India, China, and Japan are driving the growth of the content services platforms market in the region.

North America held the second-highest market share of 22.2% in 2022 and is anticipated to retain its position during the forecast period. The rapid adoption of content services platforms in this region is the major factor behind the market growth. In addition, the vast presence of major market players such as Microsoft (U.S.), Hyland Software, Inc. (U.S.), IBM (U.S.), and Open Text Corporation (Canada) is also boosting the content services platforms market growth.

Key Companies & Market Share Insights

The market has a fragmented competitive landscape as it features various global and regional market players. Leading industry players are undertaking strategies such as product launches, collaborations, and partnerships to survive the highly competitive environment and expand their business footprints. For instance, in November 2021, Hyland Software, Inc. entered into a partnership with Jadu, a web experience management software provider, to deliver integrated portal solutions to the government, higher education, and commercial customers.

Additionally, in January 2022, M-Files Corporation announced the launch of an intelligence service, M-Files Smart Migration, that combines M-Files' premier information management knowledge and skills with metadata-driven automation to assist customers in more smartly and economically migrating information into the M-Files platform. Some of the prominent players in the global content services platforms market include:

• IBM Corporation

• Microsoft

• Hyland Software, Inc.

• Open Text Corporation

• Laser fiche

• Adobe

• Oracle

• M-Files

• Box

• Fabasoft

Content Services Platforms Market Report Scope

Global Content Services Platforms Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global content services platforms market report based on component, enterprise size, deployment, end-use, and region:

• Component Outlook (Revenue, USD Million, 2017 - 2030)

  • Solutions

  • Services

• Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)

  • Small and Medium-Sized Enterprises

  • Large Size Enterprises

• Deployment Outlook (Revenue, USD Million, 2017 - 2030)

  • Cloud

  • On-premise

• End-Use Outlook (Revenue, USD Million, 2017 - 2030)

  • BFSI

  • Government & Public Sector

  • IT & Telecommunication

  • Healthcare

  • Retail & Consumer Goods

  • Media & Entertainment

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Italy

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • Singapore

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • Saudi Arabia

    • South Africa