Dublin, Feb. 19, 2021 (GLOBE NEWSWIRE) -- The "Content Services Platforms Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Content Services Platforms Market is expected to register a CAGR of 23.7% over the forecast period 2021 to 2026. The major factors driving the content services platform market include the growing adoption of social, mobile, analytics, and cloud (SMAC) technologies and the proliferation of digital content across enterprises.
Enterprise Content Management has always pursued the mission of achieving a vast array of content -related operational goals with the usage of a centralized platform. The content services platforms (CSPs), on the other hand, apply a new approach, which is focused less on storing the documents centrally but more on the strategy of how an enterprise can deal with their growing content, data, and document needs. Both the approaches have similar goals, but a very different approach. While the ECM intends to achieve its operational goals with a single system, CSPs employ a robust suite of strategy and integrated technology to accomplish these goals.
The organizations that have traditionally relied on the Enterprise Content Management (ECM) solution for their content lifecycle management, these solutions have been fulfilling the promise by managing the content end -to -end, right from the creation to disposition. However, as the market landscape is changing, today, the business is succeeding depending on how agile the company is in responding to its customers, catering to their needs, and thereby exceeding their expectations. This primarily requires the organizations to go beyond the old centralized, monolithic approach of content management and rethink their digital content strategy.
Further, the digital transformation has been at the top of all the IT agendas for the past few years. But the number of companies reaping its full benefits are small. AIIM found that close to 80 % of organizations thought that the digital transformation was essential or very important for their business. However, the number of companies that are reaping the full technologies benefits is small. This factor is expected to drive the adoption of CSP during the forecast period.
Moreover, the previous year has seen a rapid increase in the number of cyberattacks. This has forced companies to adopt security-first thinking. The services provider is also now putting much more effort into securing the service infrastructure of their clients. Besides, the data breaches have also led to an exponential rise in costs and loss of valuable customer information. According to the 2019 Data Breach Investigations Report (DBIR) released by Verizon Communications , 88 percent of all cyber incidents in the financial services and insurance sector were done with financial motivation.
With physical interaction no longer being an adequate form of communication in light of social distancing efforts owing to COVID-19 pandemic, enterprises and institutions around the world have made a sudden shift to Content Services Platforms in a bid to retain productivity. Furthermore, many developed nations, including Europe and the US, are now requiring employees at non-essential businesses to work remotely for an indefinite time frame. All these factors together contribute towards the growth f the market.
Key Market Trends
The On-premises Deployment Mode Holds a Dominant Position
North America to Have the Largest Market Size
The Content Services Platforms Market is moderately competitive and consists of several major players. In terms of market share, few of these major players currently dominate the market. Some of the major companies in the Content Services Platforms Market include Hyland, OpenText, Box, Laserfiche, Adobe , IBM , Nuxeo, Objective, among others. These influential players with a noticeable share in the market are concentrating on expanding their customer base across foreign countries. These businesses are leveraging strategic collaborative actions to improve their market percentage and enhance their profitability.
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Key Topics Covered:
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHT
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitute Products
4.3 Market Drivers
4.3.1 Increasing Adoption of SMAC Technologies
4.3.2 Increase of Digital Content across the Enterprises
4.3.3 Demand for Delivering Contextualized User Experience
4.4 Market Restraints
4.4.1 Data Privacy and Security Concerns
4.5 Assessment of COVID-19 Impact on the Industry
5 MARKET SEGMENTATION
5.1 By Component
5.1.1 Solutions/ Software AG **
18.104.22.168 Document and Records Management
22.214.171.124 Data Capture
126.96.36.199 Workflow Management
188.8.131.52 Information Security and Governance
184.108.40.206 Case Management
220.127.116.11 Other Solutions
18.104.22.168 Integration and Deployment
22.214.171.124 Support and Maintenance
5.2 By Deployment Type
5.3 By Organization Size
5.3.1 Small and Medium-Sized Enterprises
5.3.2 Large Enterprises
5.4 By End-user Industry Vertical
5.4.2 Government and Public Sector
5.4.3 Healthcare and Life Sciences
5.4.4 IT and Telecom
5.4.5 Transportation and Logistics
5.4.6 Other End-user Industry Verticals
5.5.1 North America
5.5.4 Latin America
5.5.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles*
6.1.1 IBM Corporation
6.1.3 OpenText corporation
6.1.4 Box Inc.
6.1.5 Oracle Corporation
6.1.6 Hyland Software AG Inc.
6.1.7 Laserfiche Inc.
6.1.8 Hewlett Packard enterprise ( Micro Focus International )
6.1.9 Adobe Systems Inc.
6.1.10 M-Files Inc.
6.1.11 Newgen Software AG Technologies Limited
6.1.12 Fabasoft AG
6.1.13 Everteam SAS
6.1.14 DocuWare Corporation
6.1.15 Alfresco Software AG , Inc.
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET
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