Global demand for content services platforms is predicted to increase as more enterprises use cloud-based content services platforms. In the upcoming years, it is anticipated that the proliferation of digital content among businesses will drive the worldwide content services platform market. North America currently dominates the content services platforms (CSP) market with a 37% market revenue share in 2022.
Newark, Feb. 22, 2023 (GLOBE NEWSWIRE) — The brainy Insights estimates that the USD 45 billion in 2023 content services platform (CSP) market will reach USD 137.6 billion by 2031. The demand for content services platforms is anticipated to grow as enterprises become more aware of the advantages of these platforms. Platforms for content services assist in delivering complete visibility and access to the material. Global demand for content services platforms is predicted to increase as more enterprises use cloud-based content services platforms. A platform for cloud-based content services has less expensive deployment.
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Key Insight of the content services platforms (CSP) market
Europe to account for the largest market size during the forecast period.
Europe is expected to have the most significant content services platforms (CSP). Europe presents prospective growth opportunities for content services platforms due to the region’s diverse enterprises’ constantly rising demand for sophisticated marketing tools. The increasing use of smartphones and the internet in Europe may create new opportunities for the growth of content services platforms there. Furthermore, the proliferation of smart devices in several European countries, including Germany, France, Russia, and Spain, is one of the significant factors influencing the expansion of the content services platform.
The solution segment is expected to augment the content services platforms (CSP) market during the forecast period.
The solution segment is anticipated to dominate the market over the forecast period. Instead of allowing users to purchase particular things or subscribe to various services, several platforms for content services provide subscription-based models that let users access material for a monthly fee.
The on-premise segment market size is 27.45 billion in 2023
The on-premise segment held the largest market share in 2023 and is expected to continue during the forecast period. Business partners are exchanging more data due to the ease with which firm data can now be accessed from mobile devices, raising the risk of cyberattacks and data loss. Therefore, security issues about clients’ sensitive data play a significant role in deciding between the on-premises and cloud deployment. These implementations are often utilised in large enterprises.
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Advancement in market
● In April 2021, Box added several security features to its Content Cloud platform. The main attribute was enhanced auto-classification technology, which boosted content handling for intelligent access controls. This was accomplished to strengthen cloud content management platforms. With this offering, the company’s product line will be significantly strengthened.
Driver: Rising Demand
The demand for content services platforms is rising due to the shifting interest in content in digital business and the increasing usage of cloud, mobile, social collaboration, and analytics technologies. The growing use of content services platforms for storing and managing digital information and the metadata that goes with it is another factor driving the market’s spectacular growth. Furthermore, many companies are using content service platforms to boost user productivity by utilising the benefits of digitally preserved content in online business operations. By integrating with corporate systems and data, developing processes, building applications with a specific use in mind, and developing line-of-business procedures, platforms for content services help process digital business information.
Restraint: Maintenance Required
The substantial maintenance needed for CSP systems is another factor restricting the market. On the other hand, the market is given a chance by the rise in demand for CSP solutions in the BFSI industry. However, a significant barrier to the market’s growth is the need for more competent professionals to administer CSP systems.
Opportunity: Rise in Use
As more businesses employ cloud-based content services platforms, there will likely be a surge in the global need for content services platforms. Deployment costs for platforms for cloud-based content services are lower. The rising adoption of social, mobile, analytics, and cloud (SMAC) technologies is also predicted to propel the market during the forecast period. The expansion of digital content among organisations is anticipated to fuel the global market for content services platforms in the following years. During the forecast period, businesses are expected to seek more contextualised user experiences, which will drive growth in the global market for content services platforms.
Challenge: Privacy Concerns
During the forecast period, it is anticipated that worries about data security and privacy will impede market growth for content services platforms.
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Some of the major players operating in the content services platforms (CSP) market are:
● Microsoft Corporation
● Hyland Software
● Adobe Inc.
● OpenText Corporation
● International Business Machines Corporation
● Fabasoft AG
● Micro Focus International plc
Key Segments cover in the market:
By Deployment Type:
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analysed based on value (USD billion). All the segments have been analysed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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