Newyork, Feb. 07, 2023 (GLOBE NEWSWIRE) -- According to a new study by Persistence Market Research, the Global Content Services Platform Market is set to increase rapidly at a CAGR of 14.6% and reach a size of US$ 209.2 billion by 2033.
Content service platforms provide enterprises with the necessary tools and services to create, share, and store content in video, audio, and text formats. This solution is cloud-based, allowing companies to save more on such tasks as compared to traditional enterprise content management solutions. North America, Europe, and East Asia and prominent markets for content service platforms.
Key Takeaways from Market Study
- By component, the solutions segment will lead the market for content services platforms.
- By deployment, cloud deployment will be the most popular over the decade.
- By enterprise size, the SMEs segment is estimated to witness staggering growth at CAGR 45.1% through 2033.
- North America is estimated to be the market leader for content services platforms with a market share of 33.4%, followed by Europe with 25.6% and East Asia with 15.2%.
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“Companies should concentrate on content service strategies because they provide digital platforms that are easier to use, more informative, and aid in better decision-making,” says a Persistence Market Research analyst.
Leveraging Artificial Intelligence Capabilities in Content Services Platforms
Growing number of content services platforms are integrating artificial intelligence capabilities, particularly in the areas of productivity, content, and security intelligence. Market participants have engaged in acquisitions to meet the escalating demand.
- For instance, Newgen Software announced in January 2022 that it acquired Number Theory, a provider of an artificial intelligence and machine learning data science platform.
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The need for single-source and cross-content service platforms is increasing as a result of the digital wave and the expanding e-Commerce sector. Most businesses use big data analytics for business intelligence. Big data integration is a feature of content service platforms that is increasingly being used for business intelligence. Major cloud content services platform providers are focusing on broadening their competencies by providing end-to-end content management solutions.
More Valuable Insights on Offer
Persistence Market Research’s report on the content services platform market is segmented into five major sections – component (solutions ( document and record management, data capture, workflow management, information security and governance, case management, other solutions), services (integration and deployment, consulting, support and maintenance)), deployment (on-premise, cloud), enterprise size (small and medium-sized enterprises, large enterprises) vertical (BFSI, IT and telecommunication, healthcare, government, manufacturing, retail & e-Commerce, transportation & logistics, others), and region (North America, Latin America, Europe, East Asia, South Asia and Pacific, and the Middle East and Africa).
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About the Electronics, Semiconductors and ICT Division at Persistence Market Research
Expert analysis, actionable insights, and strategic recommendations – the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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