Content Services Platforms Market Future Prospects
The global content services platforms market size is valued at an estimated USD 66.9 billion in 2024, and it is expected to advance at a CAGR of 16.0% during 2024–2030, to reach USD 162.8 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.