Content Services Platform Market with COVID-19 Impact Analysis by Component, Enterprise Size, Deployment Mode, Business Function, Vertical & Region – Global Forecast to 2027 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “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 and Regional – Global Forecast to 2027″ report has been added to from ResearchAndMarkets.com offer.

The global content services platform market size is expected to grow at a compound annual growth rate (CAGR) of 15.8% during the forecast period, to reach USD 101.6 billion by 2027, from 48 .9 billion USD in 2022.

According to the business function, the human resources segment is expected to grow at the highest CAGR during the forecast period

The content services platform market is sub-segmented into human resources (HR), sales & marketing, accounting & legal, and purchasing & supply chain management. According to business functions, HR is expected to grow at the highest CAGR over the forecast period.

Human Resource Management service is one of the essential services of every organization involved in managing employee-related processes, from recruitment and onboarding to payroll and administration. Traditionally, to manage employee databases for performance management and employee tracking, various enterprise resource planning (ERP) suites or human resource information system (HRIS) solutions are used. to cover basic HR activities and processes. Human resource systems help human resources maintain, manage and process detailed employee information and human resource related policies and procedures.

However, ERP and HR software lacks certain features. Therefore, organizations in various verticals use content services platforms in the HR department to manage unstructured employee content.

Based on deployment mode, on-premises to have the highest market size over the forecast period

Based on deployment mode, local is estimated to have the highest market size over the forecast period in the content services platform market. On-premises solutions are provided for a one-time license fee plus a service contract. For huge infrastructure and private data center which are crucial for installing solutions in on-premises deployment, it comes with cost. As a result, SMBs typically face the problem of choosing between hosted and on-premises solutions. However, companies with good capital funding prefer on-premises solutions as they offer enhanced security related to cloud-based solutions.

By component, solutions to grow at the highest CAGR during the forecast period

Based on components, solutions are estimated to hold the highest compound annual growth rate (CAGR) in the content services platform market. The Content Services Platform Solutions segment includes document and records management, workflow management, data capture, reporting and content analytics, case management, information security and governance and other solutions. Other solutions include collaboration, version control and eDiscovery. Solution providers offer tailor-made solutions to businesses based on business needs. Content Services Platform solutions enable organizations to meet demands while helping businesses grow.

Market dynamics

Drivers

  • Growing need to improve content security and optimize business processes with automated workflows

  • Growing adoption of Smac technologies

  • Need regulatory content management for improved operations

Constraints

  • Complications in data processing after mergers and acquisitions

Opportunities

  • Increased adoption of end-to-end cross-platform solutions

  • Growing inclination towards RPA adoption

Challenges

  • Increased security and data privacy concerns with cloud deployments

  • Lack of skilled manpower and poor management in creating a user adoption process

  • Content Services Platform integration and implementation challenges with current applications

Companies cited

  • Adobe

  • Outside

  • BOX

  • Documentation software

  • Everteam

  • Fabasoft

  • GRM information management

  • Hyland

  • IBM

  • laserfiche

  • M-Files

  • Micro focus

  • Microsoft

  • newgen

  • Nuxeo

  • Objective

  • Open text

  • Oracle

  • RES Group

For more information on this report, visit https://www.researchandmarkets.com/r/kk18gv


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Jenny T. Curlee