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WCM Market Overview
North America WCM market is expected to cross $4,000 million with double digit growth during the forecast period. Major growth drivers of the market include the rising interest of the enterprises in web-based marketing, and rich web experience of users through multiple digital channels, such as social media and mobile platform.
WCM is a software solution that mainly consists of a set of tools which offer enterprises with a sophisticated and efficient technique for managing critical digital information on a website. Many business organizations across the globe, particularly large ones have gradually started opting for advanced content marketing and have shown keen interest in web content marketing for increasing the overall growth of the organization’s revenue. WCM solutions offer various enterprises with a fundamental interface, through which they can effortlessly customize different types of media content much before publishing them. Also, new offerings to WCM solutions including one with cloud based services, enable organizations to increase their global customer base showcasing the desired content in different languages of prospects and state-of-the-art mediums.
The North America WCM market is in its maturity stage, and is also expected to grow rapidly during the forecast period, owing to current innovations and enhancements in the content management technology. Further, mainstream adoption of advance content management practices by business enterprises in the region, such as automation, content creation, marketing analytics, and content personalization, has also led to increase in demand for WCM system among various small and medium businesses (SMBs) in the recent past.
The web content management market is categorized mainly into solutions, service, deployment type, user type, and industry. Among various solutions, digital marketing management contributed the largest revenue to the regional market. Digital marketing management includes managing different forms of online presence of a company, such as various techniques for online content communication. The online communication techniques include social media marketing, search engine optimization, e-mail marketing, online advertising and partnership agreements with other websites. The market for deployment type is further segmented into cloud and on-premise, of which cloud-based deployment has been generating higher revenue.
It has been observed that the companies implementing cloud solutions have experienced easier application management and faster application deployment. Large business enterprises are expected to benefit the most from cloud environments due to their size and the number of applications they run. Among the various industries, retail industry is expected to become the largest user of WCM by 2023, overtaking media & entertainment. Unlike the traditional physical store concept, retailers are trying to link online and offline retailing worlds. Retail organizations are using WCM system to effectively communicate with their employees, customers and the wider community.
WCM Market Dynamics
The market is driven by factors such as increase in adoption of cloud based technologies by businesses, growing need to understand consumer behaviour, and surging demand for multi-channel experience management solutions by enterprises in the region. Advancements in artificial intelligence (AI), and deep learning technologies along with increasing use of customer management systems (CMS) are expected to provide numerous opportunities for the growth of the industry in near future. The roadblocks to the growth of the North American web content management market include lack of historical content among small sized enterprises for efficient content management programs, seamless integration into current content management systems, and high cost of implementation.
Players in the North American market are more focused on enhancing their product and service offerings through various strategic approaches. The providers are competing by launching new product categories, including advanced subscription based services. The companies operating in the region have adopted the strategy of version upgradations, partnerships, agreements, mergers and acquisitions, and strategic collaborations with local and international players to achieve high growth in the market. Some of the prominent players operating in the North American web content management industry are Oracle Corporation, Opentext Corporation, Adobe Systems Inc., IBM Corporation, Microsoft Corporation, and Sitecore Corporation.