Content Services Platform Market Growing at 15.8% CAGR | Key player Microsoft, IBM, Open Text, Hyland, Box
“Microsoft (US), IBM (US), Open Text (Canada), Hyland (US), Box (US), Laserfiche (US), Adobe (US), Oracle (US), M-Files (US), SER Group (Germany), GRM Information Management (US), Intalio (France), Micro Focus (UK), Newgen (India), Kyochera ( Japan), DocuWare (Germany), DocStar (USA), Objective (Australia) and D .velop (Germany).
Content Services Platform Market with COVID-19 Impact Analysis by Component, Enterprise Size, Mode of Deployment, Business Function (Accounting & Legal, Sales & Marketing, and Procurement & Supply Chain) Vertical & Regional – global predictions to 2027
The Global content services platform market size is expected to grow at a compound annual growth rate (CAGR) of 15.8% over the forecast period, to reach USD 101.6 billion by 2027, from USD 48.9 billion in 2022. Major Factors that are expected to drive the growth of the market are content services platform solutions which are becoming increasingly popular as the need to manage massive amounts of business data generated from numerous sources in organizations increase.
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According to verticals, healthcare and life sciences segment is expected to grow at the highest CAGR during the forecast period
The Content Services Platform market is segmented on verticals into BFSI, Government & Public Sector, Healthcare & Life Sciences, Telecom, IT & ITeS, Manufacturing, Energy & Utilities, Retail & Consumer Goods. consumer, media and entertainment and other verticals (hospitality, education, transport and logistics). According to industry verticals, the healthcare and life sciences industry vertical is expected to grow at the highest CAGR during the forecast period. The healthcare and life sciences vertical faces many challenges in storing, organizing and using all their data in a standardized way as organizations become more data-driven and enter the digital marketplace. . It can be managed using a single Healthcare Content Services (HCS) platform that can bring together diverse sources of unorganized information from across an enterprise, as well as imaging information from company. The requirement for a new generation of HCS is driven by the need to securely acquire, review and integrate patient and member information into mainstream business platforms.
The cloud segment is expected to grow at the highest CAGR during the forecast period
Based on the mode of deployment, the Cloud segment is expected to grow at the highest CAGR for the content services platform market during the forecast period. The content services platform market by mode of deployment is segmented into cloud and on-premises. Large enterprises invest in on-premises deployment mode. As premises require high costs for infrastructure and installation of solutions, only companies with good capital can deploy this model. The reason why large enterprises deploy this model is due to security concerns compared to cloud solutions. Cloud-based solutions are cost-effective and accessible from anywhere, anytime. Therefore, SMBs prefer cloud-based solutions as they provide flexibility and scalability. Security is one of the issues that limits the adoption of cloud-based services. However, this problem is also eliminated by continuously performing third-party security checks.
Content services can be foundational elements of next-generation ECM that can deliver custom enhanced ECM applications. To use enterprise content effectively, companies need to leverage and build customer-centric applications. To achieve this, the content platform must have all the necessary functionality, such as content capture, content processing and storage, workflow management, case management and archiving of case information. document and records management. All of these features should be available through a system that can be easily consumed by end users, regardless of location. The content services platform has enabled organizations to securely manage unstructured enterprise data and generate critical insights for business operations. It enables organizations to eradicate ad hoc processes by ensuring compliance with key security and regulatory standards.
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Some of the key players operating in the content services platform market include Microsoft (US), IBM (US), Open Text (Canada), Hyland (US), Box (US) , Laserfiche (US), Adobe (US), Oracle (US), M-Files (US), SER Group (Germany), GRM Information Management (US), Intalio (France) , Micro Focus (UK), Newgen (India), Kyochera (Japan), DocuWare (Germany), DocStar (US), Objective (Australia) and D.velop (Germany). These content service platform providers have adopted various organic and inorganic strategies to maintain their positions and increase their market share in the global content service platform market.
Open Text is a publicly traded company founded in 1991 based in Ontario, Canada, specializing in the design, development and marketing of enterprise information management (EIM) software, services, platforms and solutions. OpenText has offices across the Americas. With more than 125 offices around the world, it serves the EMEA region and Asia-Pacific. Its Content Cloud platform consists of several solutions, including Extended ECM, Core Content and Documentum, all of which offer a comprehensive set of content services. OpenText is primarily focused on integrating with top enterprise applications to automate operations and meet governance requirements. It has a robust set of integration options for the main enterprise business applications. Microsoft Dynamics, Salesforce, SAP and SAP SuccessFactors are among them. In addition, OpenText offers a well-designed and freshly renovated Microsoft Teams interface in Extended ECM. OpenText has a truly global presence and a strong network of over 600 external countries to deploy and support a global customer base. Its large community of collaborators, distributors and integrators supports direct sales and customer service. The company provides solutions to many vertical industries, including energy, public sector, utilities, financial services, healthcare, insurance, legal, life sciences, manufacturing, media and entertainment, as well as engineering and construction.
Box is a public company based in California, USA, founded in 2005. The company provides an enterprise content platform that enables businesses to securely manage business information. It also makes it possible to securely share and exchange corporate information from anywhere in the world. Any gadget can be used to locate the user. It provides the SaaS platform that allows users to interact; manage both internally and externally; streamline content business processes; and provide laws on integrity, accountability and confidentiality of information. The smart box framework, which interoperates with the most popular and cost-effective business applications and is adaptable to a range of uses, environments, operating systems and smartphones, ensures that hardware is accessible without no interruptions. Box has offices in the United States, Canada, Australia, Europe and Japan.
Hyland is a global pioneer of technology solutions for managing complex proceedings and cases for enterprises. It is a private company based in New Ohio, USA, which was established in 1991. OnBase, Sharebase, and Airbase are some of the company’s products available in the market. The company distributes its goods and services either individually or through a range of contacts. Hyland’s OnBase is a powerful low-code platform with a powerful process mechanism and configuration interface. Customers can use it to build applications that combine document-centric features, such as content comparability, with workflow-centric features, such as resource management and delegation. As evidenced by recent acquisitions of blockchain-based credentialing and RPAs, Hylands’ transformation strategy emphasizes its core businesses and bundled solutions to serve customers. The Alfresco Digital Business Platform now enables Hyland to accelerate its support for large organizations wishing to transition and update existing ECM installations following the acquisition of Alfresco Software in 2020. Hyland’s regional offices are located in North and Latin America, Asia Pacific and EMEA. More than 19,000 companies have computerized their offices and improved their operations thanks to these providers. Hylands’ main categories include healthcare, education, government and manufacturing, and it has dedicated teams to support all of its consumer needs, from R&D to sales.
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