User Generated Content Platform Market Size, Share & Trends Report

User Generated Content Platform Market Size, Share & Trends Analysis Report By Product Type {Audio and Video (including live streaming), Websites}, By End User (Enterprises, Individual), And Segment Forecasts, 2021 - 2028

  • Published Date: Jul, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68039-470-4
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2019
  • Number of Pages: 112

Report Overview

The global user generated content platform market size was valued at USD 2.97 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 26.6% from 2021 to 2028. User Generated Content (UGC)/ User Created Content Platform enables brands to accumulate company mentions or visual product references including, short videos, from social media and other sources, to repurpose them to enable sales, advertising, and marketing efforts. The use of user-generated content for brand advertising and marketing purposes has grown explosively in recent years, largely due to the rise in social media and messaging platforms where people have started becoming voluntary content creators on their mobile devices.

Asia Pacific user generated content platform market size, by product type, 2017 - 2028 (USD Million)

Marketers, publishers, and agencies are increasingly capitalizing on this trend in their latest ways. UGC as an advertising and marketing tactic has emerged into a distinctly different technique than influencer marketing, and thereby warrants its exploratory. This is a notable shift in the acceptance of UGC that earlier included top-down influencers as part of the definition of UGC.

The music industry and social media networks are highly interdependent. The UGC marketing incorporated into the music industry has proven to be a significant contributor to the overall growth of the music industry in recent years. This growth is attributed to the halo effect of driving audio streams on music platforms, such as Apple Music, Spotify, YouTube Music, and Amazon Music. The music industry and artists have leveraged the extended reach of social media networking to generate a constant flow of content to keeps their followers engaged and reach new audiences. It has been more crucial than ever during the COVID-19 crisis. UGC and social media platforms had given music followers a window into creative pursuits and artists’ lives when more structured content, such as official promo videos, live shows, and finished albums, were not available.

Some popular streams of user-generated content include collaboration between a user and a brand. Many brands repurpose UGC for their benefits and marketing, sharing brand-inspired customer testimonials and fan art across different social network platforms. For instance, GoPro, Inc. utilizes fan-generated content and promotes unique customer-created video content on their YouTube channel. In another instance, Amazon.com, Inc. utilizes customer reviews to get repositioned on the website. It helps the brands improve their ranking as approximately 70% actively seek online reviews before purchasing.

One of the effective ways to get consumer content is hosting contests on social media platforms, creating unique hashtags, and getting brands’ followers to contribute to that unique hashtag. With a UGC hashtag contest, brands encourage followers to share images/ videos on social media and use a particular hashtag. Customers can share social media posts to win prizes. Using such specific hashtags and popularizing them, their followers can push that hashtag to become a trend. It can help to enhance engagement with the target audience, build brand awareness, and consequently boost sales. In addition, it is important to use hashtags that set the brand apart from the competitors.

Product Type Insights

The audio and video (including live streaming) segment led the market in 2020 and accounted for over 32.0% share of the global revenue. User-generated video content garners more engagement with consumers in user-generated content marketing. User-generated product videos have exponentially become more popular as compared to official videos released on YouTube.The video content offers enormous potential for shareability as approximately 92% of users are likely to share the watched videos on social media platforms. Besides, it draws the attention of viewers as it provides complete insight into the product and increases the credibility of the brand.

Video content posted across social media platforms get nearly 12 times more engagement than any other form of user-generated content. For instance, in December 2020, Comscore, Inc., an American media measurement and analytics company, reported that the paid content combined with UGC boosted the conversion rate by 28%. Monetization incorporated in video applications further contributes to the revenue growth of the live streaming video segment in the UGC market. In another instance, as of January 2021, InMobi, an Indian mobile advertising technology company, has planned to test monetization for content platform Glance.

End-user Insights

The enterprises segment accounted for the largest revenue share of over 64.0% in 2020. This can be attributed to the explosive use of user-generated content for brand advertising and marketing purposes. This growth is largely due to the rise in social media and messaging platforms where people have started becoming voluntary content creators on their mobile devices. Every December, Starbucks Coffee Company, an American chain of coffeehouses and roastery reserves, launches a hashtag contest, namely #RedCupContest, asking followers to submit pictures of their coffee cups to win a Starbucks gift card. This campaign has garnered more than 30,000 images of coffee cups and still counting.

Further, the enterprises segment is bifurcated into sub-segments, including government or public sector, retail and e-commerce, IT and telecommunication, and others. The retail and e-commerce sub-segment accounted for the largest revenue share in 2020. E-commerce retailers are completely optimizing UGC as more consumers are becoming regular social media users. For instance, in 2019, Olapic, a U.S.-based visual marketing platform, states that today 56% of consumers are more likely to purchase after viewing the picture of the product shared by satisfied customers. Additionally, 76% of consumers are more likely to believe in user-generated content than traditional advertising.

Global user generated content platform market share, by end user, 2020 (%)

The individual segment is projected to register the highest growth rate over the forecast period. The exponential increase in the number of smartphone users and the rising popularity of social media platforms have made UGC easily accessible. Every individual has now become the chief content creator. For instance, on an everyday basis, 350 million photos are uploaded to Facebook, 95 million photos and videos are shared on Instagram, and over 500 million tweets are posted on Twitter.

Regional Insights

North America dominated the market in 2020 with a share of over 34.0%. This can be attributed to the presence of well-established ICT solution providers and a large customer base. The region is characterized by a massive pool of content platform providers, such as Taggbox.com; Pixlee Inc.; and Pancake Laboratories, Inc. Strategic initiatives such as mergers & acquisitions are expected to provide another avenue for marketing and advertising companies to strengthen their video content libraries. For instance, in November 2019, Akamai Technologies, a U.S.-based content delivery network (CDN) services provider, announced the acquisition of Exceda, cloud security and performance solutions provider. This initiative was taken to expand the company’s foothold in the North American region.

Asia Pacific is projected to expand at the highest CAGR over the forecast period. This growth is attributed to the increasing use of mobiles and tablets, rapid technological advancements, and the popularity of social networking sites in emerging economies, such as China and India. The overall UGC market appears as a fast-evolving industry in the Asia Pacific market, driven by increased tech-savvy consumers on the demand side and an increase in audio and video platform offerings on the supply side. For instance, in May 2020, Reuters, an international news organization, has announced the expansion of its user-generated content offering to Reuters News Agency customers in EMEA, Latin America, and Asia Pacific through a partnership with Storyful, which is a social media intelligence agency. Through this initiative, Reuters customers can access user-generated content across the globe.

Key Companies & Market Share Insights

Vendors in the market are focusing on expanding the customer base to gain a competitive edge in the industry. Therefore, vendors are taking up several strategic initiatives, such as acquisitions & mergers and collaborations and partnerships with other players in the market. For instance, in February 2020, Bazaarvoice, a provider of product reviews and user-generated content solutions, announced the partnership with Yotpo, a prominent e-commerce marketing platform. This partnership was aimed at expanding the syndication of user-generated content between brands and retailers. Vendors in the market are focusing on raising funds for product launches and geographical expansion. In another instance, in October 2018, CrowdRiff, an artificial intelligence-powered visual content marketing platform, announced to raise USD 9 million Series A round. This initiative was aimed to power visual content marketing for travel brands and expand the company’s capabilities of its artificial intelligence-powered visual content platform. Some prominent players in the global user generated content platform market include:

  • CrowdRiff

  • Curalate

  • Monotype Imaging Inc.

  • Olapic Inc.

  • Pancake Laboratories, Inc.

  • Pixlee

  • Stackla Pty Ltd.

  • TINT

  • TurnTo

  • Yotpo

  • Yuema Inc.

User Generated Content Platform Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 3.58 billion

Revenue forecast in 2028

USD 18.65 billion

Growth Rate

CAGR of 26.6% from 2021 to 2028

Base year for estimation

2020

Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product type, end user, region

Regional scope

North America; Europe; Asia Pacific; South America; MEA

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Turkey; Russia; China; Japan; India; South Korea; Indonesia; Thailand; Vietnam; Brazil; Saudi Arabia; Israel; Kuwait; United Arab Emirates

Key companies profiled

CrowdRiff; Curalate; Monotype Imaging Inc.; Olapic Inc.; Pancake Laboratories, Inc.; Pixlee; Stackla Pty Ltd.; TINT; TurnTo; Yotpo; Yuema Inc.

Customization scope

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Segments Covered in the Report

This report forecasts revenue growth at the 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 2028. For this study, Grand View Research has segmented the global user generated content platform market report on the basis of product type, end user, and region:

  • Product Type Outlook (Revenue, USD Million, 2017 - 2028)

    • Blogs

    • Websites

    • Advertising and Promotions

    • Social Media

    • Audio and Video (including live streaming)

    • Others

  • End-user Outlook (Revenue, USD Million, 2017 - 2028)

    • Individual

    • Enterprises

  • Regional Outlook (Revenue, USD Million, 2017 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Turkey

      • Russia

    • Asia Pacific

      • China

      • Japan

      • India

      • South Korea

      • Indonesia

      • Thailand

      • Vietnam

    • South America

      • Brazil

    • Middle East and Africa (MEA)

      • Saudi Arabia

      • Israel

      • Kuwait

      • United Arab Emirates

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