Content Services Platform Market to Surpass $155.8 Billion by 2030, According to P&S Intelligence
NEW YORK, June 16, 2022 /PRNewswire/ — In 2021, the Content Services Platform Market Size amounted to $39.8 billionand it will progress at a growth rate of 16.4% in the near future, reaching $155.8 billion by 2030, according to the latest market research published by P&S Intelligence.
The main aspects responsible for the growth of the industry are the massive creation of digital content, accompanied by the rise in the application of SMAC technologies. Additionally, requirement for industry-specific platforms, growing concept of labor mobility, increasing R&D expenditures, and technical advancements are enhancing the growth prospects of the market.
Cloud-based platforms accounted for the major 55% share of the content services platform market in 2021. Moreover, their demand will propel at a rate of over 16% during the period forecast. This is due to the growing demand for ease of provisioning, deployment, operation and access to new technologies by end users. As a result, native PaaS and SaaS merchants in the industry are seeing tremendous progress, and even conventional businesses have shifted their portfolios to PaaS and SaaS.
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Large enterprises mainly use content services platforms as they invest deeply in new technologies and choose the on-premises mode of deployment to reduce data security worries. Consequently, these companies contributed about 65% of industry revenue in 2021. Additionally, digital marketing companies are turning to cloud-based content service platforms as they are accessible from anywhere. where and at any time.
The BFSI industry generated more than 20% of the content services platform market revenue in 2021. This is due to the high acceptance of cloud-based programs in this industry, especially for data storage, l analysis and reporting; containers and APIs. Customers create approximately 2.5 quintillion bytes of data every day, driving an annual cloud investment of more than $67 billion by BFSI companies.
Moreover, the government sector buys these platforms. Companies such as Laserfiche, Objective and Intelio offer content services platforms specifically designed for public institutions.
Browse the detailed report on Content Services Platform Market Analysis, Size, New Trends, Emerging Opportunities and Major Key Players by 2030
Content Services Platform Market Regional Analysis
North America content services platform market held the largest share in 2021. Within the continent, the United States dominates the market and Canada will be the fastest growing with a CAGR of around 18% in the near future.
The APAC region will have the highest CAGR of 16.7% in the coming years, due to the growing internet penetration and the rapid increase in data, which needs to be processed economically and efficiently.
Europe is also among the top markets due to the growing need for state-of-the-art advertising tools and the growing number of smartphone and internet users.
Content Services Platform Market Segmentation Analysis
By business size
Per Vertical End User
Banking, financial services and insurance
Government and public sector
IT & Telecommunications
Health and life sciences
Retail and consumer goods
Energy and Utilities
Media and entertainment
Middle East and Africa
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SOURCE P&S Intelligence