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 USD 48.9 billion in 2022. Key factors that are expected to drive the growth of the market are the content services platform solutions that are becoming more popular as the requirement to manage massive amounts of corporate data generated from numerous sources across organizations grows.
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As per verticals, the Healthcare and Life Sciences segment to grow at highest CAGR during the forecast period
The content services platform market is segmented on verticals into BFSI, government & public sector, healthcare & life sciences, telecommunications, IT & ITeS, manufacturing, energy & utilities, retail & consumer goods, media & entertainment, and other verticals (hospitality, education, and transportation & logistics). As per verticals, the healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period. The healthcare and life sciences vertical faces a lot of difficulties to store, organize, and use all of their data in a standardized manner as organizations grow more data-driven and enter the digital market. It can be managed using a single Healthcare Content Services (HCS) platform that can pull together diverse, unorganized information sources from across an enterprise, as well as corporate imagery information. The requirement for a new generation of HCS is being driven by a need to safely acquire, examine, and incorporate patient and member information into core business platforms.
Cloud Segment to grow at the highest CAGR during the forecast period
As per deployment mode, Cloud Segment to grow at the highest CAGR for the content services platform market during the forecast period. The content services platform market by deployment mode is segmented into cloud and on-premises. Large enterprises invest in on-premises deployment mode. As on-premises require high costs for infrastructure and installation of solutions, only firms with good capital can deploy this model. The reason for large enterprises deploying this model is due to security concerns when compared to cloud solutions. Cloud-based solutions are cost-effective and can be accessed from anywhere at any time. Therefore, SMEs prefer cloud-based solutions as it offers flexibility and scalability. Security is one of the issues that restricts the adoption of cloud-based services. However, this issue is also being eliminated by continuously doing security checks by third parties.
Content services can be fundamental building blocks of new-generation ECM that can deliver customized enhanced ECM applications. To effectively utilize enterprise content, organizations must leverage and build customer-centric applications. To achieve this, the content platform should possess all the necessary functionalities, such as content capture, content processing and storage, workflow management, case management, and archival of information of document and records management. All these functionalities need to be available through a system that can be easily consumed by end users irrespective of their location. Content services platform has enabled organizations to securely manage unstructured corporate data and generate information crucial for business operations. It enables organizations to eradicate ad-hoc processes by providing compliance with major security and regulatory standards.
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Some of the key players operating in the content services platform market include Microsoft (US), IBM (US), Open Text (Canada), Hyland (US), Box (US), Laserfiche (US), Adobe (US), Oracle (US), M-Files (US), SER Group (Germany), GRM Information Management (US), Intalio (France), Micro Focus (UK), Newgen (India), Kyochera (Japan), DocuWare (Germany), DocStar (US), Objective (Australia), and D.velop (Germany). These content services platform vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global content services platform market.
Open Text is a publicly traded business founded in 1991 based in Ontario, Canada, specializing in the design, development, and marketing of Enterprise Information Management (EIM) software, services, platforms, and solutions. OpenText has offices across the Americas. With over 125 offices throughout the world, it serves EMEA and the Asia Pacific. Its Content Cloud platform consists of several solutions, including Extended ECM, Core Content, and Documentum, all of which offer a comprehensive set of content services. OpenText focuses primarily on integrating with top corporate apps to automate operations and adhere to governance requirements. It has a robust set of integration options for top corporate line-of-business apps. Microsoft Dynamics, Salesforce, SAP, and SAP SuccessFactors are among them. In addition, OpenText offers a well-designed and freshly renovated Microsoft Teams interface in Extended ECM. OpenText has a truly worldwide presence and a robust network of over 600 external countries to deploy and assist global clientele. Its extensive community of collaborators, distributors, and Integrators supports direct sales and customer service. The company provides solutions to numerous industry verticals, including energy, public sector, utilities, financial services, healthcare, insurance, legal, life science, manufacturing, media & entertainment, and engineering & construction.
Box is a public corporation based in California, US, founded in 2005. The company provides an enterprise content platform that enables enterprises to securely manage business information. This also enables safe sharing and exchange of corporate information from anywhere in the world. Any gadget may be used to locate the user. It provides the SaaS platform that enables users to interact; manage both internally and externally; streamline content business processes; and provide information integrity, accountability, and privacy laws. The smart box framework, which interacts with the most popular as well as cost-effective business apps and is adaptable to a spectrum of uses, environments, operating systems, and smartphones, ensures that material is accessible without any interruption. Box has offices in the US, Canada, Australia, Europe, and Japan.
Hyland is a global pioneer in technology solutions for managing complex procedures and instances for businesses. It is a privately owned firm based in New Ohio, US, that was created in 1991. OnBase, Sharebase, and Airbase are some of the firms products available on the marketplace. The corporation distributes its goods and services either individually or through a range of contacts. OnBase from Hyland is a powerful low-code platform with a powerful process mechanism and setup interface. Customers may use this to create apps that mix document-centric features, such as content comparability, with workflow-centric features, such as resource management and delegation. As demonstrated by recent acquisitions of blockchain-based credentialing and RPA, Hylands transformation strategy, emphasize on its core businesses, and bundled solutions to serve clients. The Alfresco Digital Business Platform now enables Hyland to expedite its assistance for major organizations willing to transition and update existing ECM installations after it acquired Alfresco Software in 2020. Regional offices of Hyland are located across North America and Latin America, Asia Pacific, and EMEA. More than 19,000 businesses have computerized their offices and improved their activities due to these providers. Hylands primary categories include health care, education, administration, and manufacturing, and it has dedicated teams to handle all its consumers needs, from R&D to sales.
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