Content Services Platforms Market Outlook by Component (Solutions, Services), Enterprise Size (Large Enterprises, SME), Deployment (On-Premises, Cloud), End-User Vertical (Banking, Financial Services, and Insurance, Government and Public Sector, Manufacturing, IT & Telecommunication, Healthcare and Life Sciences, Retail and Consumer Goods, Energy and Utilities, Media and Entertainment) –Revenue Estimation and Demand Forecast to 2030

Market Overview

The global content services platforms market size was valued at $39.8 billion in 2021, and it is expected to advance at a CAGR of 16.4% during 2021–2030, to reach $155.8 billion by 2030. The major factors credited for the growth of the market include the large creation of digital content across enterprises along with the increase in implementation of social, mobile, analytics, and cloud (SMAC) technologies.

Moreover, the demand for industry-specific platforms, the trend of mobile workforce, the increase in spending on research and development (R&D), and technological advancements are also boosting the market growth. For instance, Newgen has filed 44 patents to date and invests 9–10% of its revenue in R&D.

The solutions, such as document & record management, case management, workflow management, data capture, information security & governance, and content reporting & analytics, have dominated the market. On the other hand, the demand for services, comprising training & consulting, support & maintenance, and deployment & integration, is expected to witness significant growth, of around 17%, during the forecast period.

The pandemic caused by the spread of the COVID-19 virus resulted in restrictions on movements, which led to the growth of the market by more than 30% in 2020. This is because enterprises shifted to digital operations largely, as work from home guidelines were issued by governments. For example, the adoption of PaaS grew to 56% in 2020.

Cloud-Based Content Services Platforms Dominate the Market

Cloud-based platforms held a larger market share, of 55%, in 2021, and the category is projected to maintain its position, growing at a CAGR of more than 16%, in the coming years. This growth can be attributed to the increasing need for easier procurement, deployment, operations, and access to new technologies by end users. As a result, native SaaS and PaaS vendors in the market witnessed significant growth, and also, traditional companies have been shifting their offerings to SaaS and PaaS solutions gradually.

Large Enterprises Largely Adopting Content Services Platforms

Content services platforms are principally adopted by large enterprises, as they heavily invest to adopt new technologies, and choose on-premise deployment mode to minimize the data security concerns. Thus, the category contributed about 65% revenue share to the market in 2021. Moreover, vendors have been shifting to cloud-based content services platform in recent years, as platforms can be accessed from anywhere at any time. However, companies also have their own servers to minimize data breach concerns.

Whereas, SMEs are likely to gain the market share, rising at a CAGR of more than 16.5%, during the forecast period. This can be ascribed to the rise in the culture of remote working along with ease in tracking employee efficiency. They prefer cloud-based platforms, as these are cost-effective.

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Banking, Financial Services, and Insurance Sector Is the Largest End User in the Market

The BFSI sector generated more than 20% of the market revenue in 2021. This is attributable to the high adoption of cloud solutions in the sector, especially for storage, reporting and analytics, containers and APIs, and master data management. In fact, customers generate 2.5 quintillion bytes of data every day, resulting in an annual cloud investment of over $67 billion by banks and financial services. For instance, Banks such as GEFA Bank, Helaba Invest, FCA Bank, LBS, LBB Invest, and Union Investment have shifted to SER group’s Doxis4 from their ECM system.

Moreover, the government and public sector is also adopting these platforms largely. Companies such as Intelio, Laserfiche, and Objective have expertise specifically for government and public organizations. For instance, Electricity & Cogeneration Regulatory Authority (ECRA), KSA, implemented an enterprise content services suite from Intalio, which covers correspondence management, document management system, and correspondence executive. Furthermore, the manufacturing sector is the third-largest revenue contributor to the market and the category is expected to witness significant growth in the coming years.

Regional Outlook

The North American market generated the largest revenue share, of 30%, in 2021, wherein the U.S. leads the regional market, and Canada is the faster-growing market in the region, advancing at a CAGR of around 18% during the forecast. The U.S. generated around 85% of the North American market content services platforms market revenue in 2021, owing to the presence of major content services paltforms vendors, which largely invest in R&D of new technologies and capabilities.

Whereas, the APAC market is projected to witness the highest growth rate, of 16.7%, during the forecast period, as a result of the increasing internet traffic and fast escalating data that needs to be managed efficiently in economically developing nations such as India and China. Moreover, the rising number of SMEs in the region has also boosted the market growth. For instance, SMEs have grown at a CAGR of around 4% in the past two decades.

In APAC, the Chinese market accounted for more than 30% share in 2021, and it is expected to witness a significant CAGR, of 16.5%, in the coming years. In addition, Japan is the second-largest market in the region, as enterprises have been involved in the conversion of ECM systems to content services platforms and the surging adoption of cloud-based applications and suites in the country.

Europe is also one of the major markets due to the rising need for innovative marketing tools among various organizations and the increasing number of internet and smartphone users in the region. Furthermore, the surge in the number of smart devices in various nations, such as Germany, France, Russia, and Spain, is contributing to the expansion of the regional market.

Business Opportunity

• Integration of artificial intelligence capabilities in content services platforms has been increasingly gaining popularity, majorly in productivity intelligence, content intelligence, and security intelligence. To cater to the rising demand, market players have been involved in acquisitions. For instance, in January 2022, Newgen Software announced the acquisition of Number Theory, an AI/ML data science platform company.
• Due to the advent of the digital wave and the expanding eCommerce sector, the demand for single-source and cross-platform content services platform solutions is on the rise. Most organizations employ big data analytics for business intelligence. Content services platforms offer big data integration, which is increasingly used for business intelligence. By offering end-to-end content management solutions, major cloud content services platform vendors are attempting to expand their competencies.

Key Strategic Developments of Market Players

In recent years, major players in the content services platforms market have been actively involved in launching innovations in their products and geographical expansions, along with other developmental activities to enhance their capabilities and offerings. For instance:

• In March 2022, OpenText showcased its newest innovations, including OpenText Axcelerate, part of OpenText Content Cloud, which simplifies eDiscovery, legal and regulatory investigations, and data privacy compliance review across a distributed enterprise.
• In September 2021, Intalio partnered with On-OneTech (Pty) Ltd. to expand its geographical presence in Africa.

Key Players in the Content Services Platforms Market Are:

• Microsoft Corporation
• Hyland Software
• Box
• OpenText
• Laserfiche
• IBM Corporation
• Adobe Inc.
• Oracle Corporation
• M-Files
• SER Group

Content Services Platforms Market Size Breakdown by Segment

The study offers comprehensive market segmentation analysis along with market estimation for the period 2017-2030.

Based on Component

• Solutions
  • Document & Record Management
  • Case Management
  • Workflow Management
  • Data Capture
  • Information Security & Governance
  • Content Reporting & Analytics
• Services
  • Training & Consulting
  • Support & Maintenance
  • Deployment & Integration

Based on Enterprise Size

• Large Enterprises
• Small and Medium Enterprises

Based on Deployment

• On-Premises
• Cloud

Based on End-User Vertical

• Banking, Financial Services, and Insurance
• Government and Public Sector
• Manufacturing
• IT &Telecommunication
• Healthcare and Life Sciences
• Retail and Consumer Goods
• Energy and Utilities
• Media and Entertainment

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
• Asia-Pacific (APAC)
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America (LATAM)
  • Brazil
  • Mexico
• Middle East and Africa (MEA)
  • Saudi Arabia
  • South Africa