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Content Services Platforms Market Size, Share Analysis And Growth Report 2033
Content Services Platforms Market Size
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According to The Business Research Company's, The content services platforms market size has grown exponentially in recent years. It will grow from $52.16 billion in 2023 to $62.61 billion in 2024 at a compound annual growth rate (CAGR) of 20.0%. The growth in the historic period can be attributed to transition to digital content, rise of enterprise content management (ecm), collaboration tools integration, mobility and accessibility, content analytics and search capabilities.
The content services platforms market size is expected to see exponential growth in the next few years. It will grow to $130.18 billion in 2028 at a compound annual growth rate (CAGR) of 20.1%. The growth in the forecast period can be attributed to continuous innovation, innovation in sustainability practices, customer experience enhancement, vertical-specific solutions, low-code/no-code expansion . Major trends in the forecast period include cloud-based solutions, ai and automation integration, data security enhancement , remote work enablement, content personalization demand. .
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Market Drivers and Trends:
The increasing shift to remote work is expected to propel the growth of the content service platforms market going forward. The shift to remote work refers to the trend of employees working from home or other remote locations, enabled by advances in technology and changes in work culture. Content service platforms (CSPs) play a crucial role in remote work by enabling efficient and secure content management, collaboration, and sharing across distributed teams. CSPs provide a centralized platform for storing, accessing, and sharing digital content, allowing remote workers to collaborate seamlessly and access the information they need from anywhere. For instance, in 2022, a survey conducted by FlexJobs' Career Pulse, a US-based provider of platforms serving the freelance community, gathered responses from 4,000 participants between July and August 2022. The survey revealed that 65% of the respondents expressed a strong preference for full-time remote work, while 32% expressed a desire for a hybrid work arrangement. This high percentage of 97% indicates that most workers wish to have the option of working remotely in some capacity. Therefore, the increasing shift to remote work is driving the growth of the content service platforms market.
Technological advancement is a key trend in the content services platforms market. Major companies operating in the content services platforms market are advancing their latest technologies, research, and developments to strengthen their market position. For instance, in April 2021, Opentext, a US-based information and technology company, launched a new content services platform, OpenText Core Content and OpenText Core Case Management, to power the modern cloud. This solution provides a unified approach to managing an organization's content lifecycle in its formal and informal business processes by combining content management, case management, and integration into lead applications, including deep integration with SAP S/4HANA in the public cloud.
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Major Key Players of the Market:
International Business Machines Corporation, Microsoft Corporation, OpenText Corporation, Hyland Software Inc., Box Inc., Adobe Inc., Oracle Corporation, M-Files Corporation, Newgen Software Inc., Fabasoft AG, Micro Focus International plc, DocuWare Corporation, Everteam Global Services Inc., GRM Information Management Services Inc., SER Solutions Deutschland GmbH, Alfresco Software Inc., Kyocera Corporation, Epicor Software Corporation, Dropbox Inc., Nuxeo Corp., Objective Corporation, ASG Technologies Group Inc., SpringCM Inc., Systemware Inc., Xerox Corporation, Zoho Corporation, iManage LLC, Veeva Systems Inc.
Content Services Platforms Market 2024 Key Insights:
• The content services platforms market size is expected to see exponential growth in the next few years. It will grow to $130.18 billion in 2028 at a compound annual growth rate (CAGR) of 20.1%.
• Surging Demand For Digital Content Drives Growth In Content Service Platforms Market
• Key Players Introducing Next-Gen Content Services Platforms
• North America was the largest region in the content services platforms market in 2023
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