TMCnet News

Content Services Platforms Market with COVID-19 Impact Analysis by Component, Enterprise Size, Deployment Mode, Business Function, Vertical and Region - Global Forecast to 2027 - ResearchAndMarkets.com
[June 30, 2022]

Content Services Platforms Market with COVID-19 Impact Analysis by Component, Enterprise Size, Deployment Mode, Business Function, Vertical and Region - Global Forecast to 2027 - ResearchAndMarkets.com


The "Content Services Platforms Market with COVID-19 Impact Analysis by Component, Enterprise Size, Deployment Mode, Business Function (Accounting & Legal, Sales & Marketing, and Procurement & Supply Chain) Vertical and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

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.

As per business function, Human Resources segment to grow at a the highest CAGR during the forecast period

The content services platform market is sub segmented into Human Resource (HR), sales & marketing, accounting & legal, and procurement & supply chain management. As per business functions, HR is expected to grow at the highest CAGR during the forecast period.

The human resource management department is one of the crucial departments at every organization involved in managing employee-related processes, from recruitment and onboarding to payroll and administration. Traditionally, to manage employee databases for performance management and employee tracking, various Enterprise Resource Planning (ERP) suites or Human Resource Information Systems (HRIS) solutions are used to cover the basic human resource activities and processes. Human resources systems help human resources maintain, manage, and process detailed employee information and human resources-related policies and procedures.

However, ERP and human resources software lack a fe of the capabilities. Therefore, organizations across various verticals have been using content services platforms in the human resource department to manage employees' unstructured content.



As per deployment mode, on-premises to have the highest market size during the forecast period

As per deployment mode, on -premises is estimated to have the highest market size during the forecast period in the content services platform market. On-premises solutions are provided for a one-time license fee as well as a service agreement. For huge infrastructure and a private data center that are crucial for installment of solutions in on-premises deployment is cost incurring. Therefore, SMEs usually face the problem of choosing between hosted and on-premises solutions. However, enterprises with good capital financing prefer on-premises solutions as they offer improved security linked to cloud-based solutions.


As per component, solutions to grow at the highest CAGR during the forecast period

As per component, solutions is estimated to hold the highest Compound Annual Growth Rate (CAGR) in the content services platform market. The solutions segment of the content services platform includes document & record management, workflow management, data capture, content reporting & analysis, case management, information security & governance, and other solutions. Other solutions include collaboration, version control, and eDiscovery. The solution providers offer tailored solutions to businesses according to the need of the business. The content services platform solutions enable organizations to fulfill demands along with helping businesses to grow.

Market Dynamics

Drivers

  • Growing Need to Enhance Content Security and Optimize Business Processes with Automated Workflows
  • Growing Adoption of Smac Technologies
  • Need for Regulatory Content Management for Enhanced Operations

Restraints

  • Complications in Handling Data Post Mergers and Acquisitions

Opportunities

  • Increasing Adoption of End-To-End Cross-Platform Solutions
  • Growing Inclination Toward Adoption of Rpa

Challenges

  • Increasing Security and Data Privacy Issues with Cloud Deployments
  • Lack of Skilled Workforce and Poor Management in Creating User Adoption Process
  • Difficulties with Integration and Implementation of Content Services Platform with Current Applications

Companies Mentioned

  • Adobe
  • Alfresco
  • BOX
  • Docuware
  • Everteam
  • Fabasoft
  • GRM Information Management
  • Hyland
  • IBM
  • Laserfiche
  • M-Files
  • Micro Focus
  • Microsoft
  • Newgen
  • Nuxeo
  • Objective
  • Opentext
  • Oracle
  • SER Group

For more information about this report visit https://www.researchandmarkets.com/r/kk18gv


[ Back To TMCnet.com's Homepage ]