Dublin, February 19, 2021 (GLOBE NEWSWIRE) – The “Content Services Platforms Market – Growth, Trends, COVID-19 Impact, and Forecast (2021 – 2026)” the report was added to ResearchAndMarkets.com offer.
The Content Service Platforms market is expected to register a CAGR of 23.7% during the forecast period 2021 to 2026. Major factors driving the Content Service Platforms market include growing adoption social, mobile, analytical and cloud (SMAC) technologies and the proliferation of digital content in businesses.
Enterprise content management has always pursued the mission of achieving a wide range of content-related business goals with the use of a centralized platform. Content Service Platforms (CSPs), on the other hand, are taking a new approach, which focuses less on centralized document storage, but more on the strategy by which a business can manage its growing content needs, data and documents. The two approaches have similar goals, but a very different approach. While ECM intends to achieve its operational goals with a single system, CSPs use a strong suite of integrated strategies and technologies to achieve these goals.
Organizations that have traditionally relied on the enterprise content management (ECM) solution for their content lifecycle management, these solutions have delivered on their promise in managing content end-to-end from inception to. its layout. However, as the market landscape changes, today the business succeeds based on the agility of the business to meet its customers, meet their needs and thereby exceed their expectations. This primarily forces organizations to move beyond the old, centralized, monolithic approach to content management and rethink their digital content strategy.
Additionally, digital transformation has been at the top of all IT agendas in recent years. But the number of companies that take full advantage of it is small. AIIM found that nearly 80% of organizations believe digital transformation is essential or very important to their business. However, the number of companies that are reaping the full benefits of technology is small. This factor is expected to lead to adoption of CSP during the forecast period.
In addition, the previous year saw a rapid increase in the number of cyber attacks. This has forced companies to take a security-focused approach. The service provider is also now putting much more effort into securing the service infrastructure of its customers. In addition, data breaches have also resulted in exponential increases in costs and the loss of valuable customer information. According to the 2019 Data Breach Investigations (DBIR) report released by Verizon, 88% of all cyber incidents in the financial services and insurance industry were committed with financial motivation.
With physical interaction no longer an adequate form of communication in light of social distancing efforts due to the COVID-19 pandemic, businesses and institutions around the world have suddenly turned to service platforms of content in order to maintain their productivity. In addition, many developed countries, including Europe and the United States, now require employees of non-essential companies to work remotely indefinitely. All of these factors together contribute to the growth of the market.
Key market trends
The on-site deployment mode occupies a dominant position
- The type of on-premise deployment is expected to be a bigger contributor to market growth during the forecast period. On-premises deployment of CSP solutions requires a high initial investment on the part of organizations, although it does not require additional costs throughout ownership, as in the type of cloud deployment.
- Today, business data is effortlessly accessible from mobile devices; this has increased the volume of data transfer between business parties and increased the risk of cyber attacks and data loss. Therefore, security concerns associated with private customer data is an important reason for selecting on-premises cloud deployment. These types of implementations are prevalent in large enterprises.
- For example, according to Cisco Systems in 2022, the data volume of global consumer IP traffic is expected to reach 333 exabytes per month at a compound annual growth rate of 27%. In addition, in 2019, according to Verizon Communications Inc., the global hosting industry experienced a total of 125 cybersecurity incidents, and professional services and the public were the most targeted industries with 7,463 and 6,843 incidents, respectively. reported.
- On-premises deployment allows users to keep the solution in-house and grow the solution as needed by the organization. With an on-premise solution, the solution lives on its infrastructure and IT department or other resources and maintains and evolves its solution. On-site deployment means one can become the in-house expert on the ECM solution, and changes and improvements to one’s solution are within reach.
North America will have the largest market size
- North America is estimated to represent the largest share of the market. The region includes developed countries such as the United States and Canada and is recognized as the most advanced area in new and emerging technologies. In addition, the North America region shows a strong presence of fundamental industry players offering software and content service platform services. Their financial situation allows them to invest mainly in the main tools and technologies for efficient business operations.
- North America is expected to offer significant growth opportunities during the forecast period. The increasing availability of skilled labor and the intense concentration of SMEs and large companies to enter and develop in this region are several factors that are propelling the adoption of CSP in this region. For example, according to the United States Bureau of Labor Statistics, in 2019, approximately 63.1% of the United States’ skilled population participated in the workforce.
- Primarily, public cloud services have seen a huge boom in North America as companies seek to scale up their digital initiatives. According to the LogicMonitor survey, 66% of respondents said artificial intelligence (AI) and machine learning would drive engagement in the public cloud in 2020, compared to 50% who said it is currently boosting public cloud. public cloud engagement in the United States.
- The CSP has become the heart of the way companies work today with the pressure to increase their business activity and keep their customers happy. Companies are working to optimize application performance and ensure a great customer experience.
- Major vendors offering content service platforms across the globe include Microsoft, Hyland, OpenText, Box, Laserfiche, Adobe, IBM, Nuxeo, Objective, GRM Information Management, Alfresco, and Oracle.
The content service platform market is moderately competitive and consists of several major players. In terms of market share, few of these large players currently dominate the market. Some of the leading companies in the content service platform market include Hyland, OpenText, Box, Laserfiche, Adobe, IBM, Nuxeo, Objective, among others. These influential players with a notable market share are focused on expanding their customer base abroad. These companies are leveraging strategic collaborative actions to improve their market share and increase their profitability.
- July 2020: EY and IBM Corporation announced an enhanced global multi-year alliance primarily designed to help organizations accelerate their digital transformation and improve customer outcomes, which includes leveraging the hybrid cloud capabilities of Red Hat OpenShift, as well as from IBM Blockchain, IBM Watson, and IBM’s 5G and Edge technologies. Together, the two business professionals will focus on helping clients modernize and transform their businesses.
- May 2020 – Box, Inc. introduced the all-new Box experience to increase productivity and collaboration. The announcement features Collections, an easy way to organize files and folders around the topics and workflows important to you; the ability to add annotations to over 100 file types directly in Box Preview; and an improved Zoom integration that makes it easier to collaborate on content while face-to-face on video.
- May 2020 – OpenText announced that Pathos Clinical Solutions, a full-service independent clinical laboratory, has selected OpenText EMR-Link for full EMR integration, computerized physician order entry (CPOE) and secure connectivity to clinicians.
Reasons to buy this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Main topics covered:
1.1 Hypotheses of the study and market definition
1.2 Scope of the study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Market overview
4.2 Industry Attractiveness – Porter’s Five Forces Analysis
4.2.1 Bargaining power of suppliers
4.2.2 Bargaining power of consumers
4.2.3 Threat of new entrants
4.2.4 Intensity of competitive rivalry
4.2.5 Threat of Substitute Products
4.3 Market drivers
4.3.1 Growing adoption of SMAC technologies
4.3.2 Increase in digital content in businesses
4.3.3 Demand to provide a contextualized user experience
4.4 Market restrictions
4.4.1 Data privacy and security concerns
4.5 Assessment of the impact of COVID-19 on the industry
5 MARKET SEGMENTATION
5.1 By component
5.1.1 Solutions / Software **
22.214.171.124 Document and file management
126.96.36.199 Data entry
188.8.131.52 Workflow management
184.108.40.206 Information security and governance
220.127.116.11 Case management
18.104.22.168 Other solutions
5.1.2 Services **
22.214.171.124 Integration and deployment
126.96.36.199 Assistance and maintenance
5.2 By type of deployment
5.2.1 On site
5.3 By organization size
5.3.1 Small and medium-sized enterprises
5.3.2 Large companies
5.4 By end-user activity sector
5.4.2 Government and public sector
5.4.3 Health and life sciences
5.4.4 IT and Telecom
5.4.5 Transport and logistics
5.4.6 Other Vertical Sectors of End User Industry
5.5.1 North America
5.5.4 Latin America
5.5.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company profiles *
6.1.1 IBM Company
6.1.2 Microsoft Corporation
6.1.3 OpenText Company
6.1.4 Box inc.
6.1.5 Oracle Corporation
6.1.6 Hyland Software Inc.
6.1.7 Laserfiche inc.
6.1.8 Hewlett Packard Enterprise (Micro Focus)
6.1.9 Adobe Systems Inc.
6.1.10 M-Files Inc.
6.1.11 Newgen Software Technologies Limited
6.1.12 Fabasoft SA
6.1.13 Everteam SAS
6.1.14 DocuWare Corporation
6.1.15 Alfresco Software, Inc.
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET
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