Content Moderation Services Market to Garner $26.3 Bn, Globally, by 2031 at 12.2% CAGR: Allied Market Research
Growing adoption of learning management system for corporate training and awareness among students have boosted the growth of the global content moderation services market.
PORTLAND, Ore., Nov. 24, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Content Moderation Services Market by Component (Solution, Services), by Deployment Mode (On-Premise, Cloud), by Content Type (Image, Text, Video), by Organization Size (Large Enterprises, Small and Medium-sized Enterprises), by Industry Vertical (IT and Telecommunication, Government, Retail and E-Commerce, Healthcare, Media and Entertainment, Education, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global content moderation services industry was accounted for $8.5 billion in 2021, and is expected to reach $26.3 billion by 2031, growing at a CAGR of 12.2% from 2022 to 2031.
Drivers, restraints, and opportunities
Growing adoption of learning management system for corporate training and awareness among students have boosted the growth of the global content moderation services market. However, high initial and maintenance cost hinders the market growth. On the contrary, advent of social networking platforms and adoption of novel technologies would open new opportunities in the market.
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The solution segment held the lion's share
By component, the solution segment held the largest share in 2021, accounting for nearly three-fourths of the global content moderation services market. The adoption of content moderation services provides numerous benefits to the industry such as, streamlining the business process, eliminating the manual process, and reducing the time and costs. However, the services segment is expected to register the highest CAGR of 15.5% during the forecast period, as adoption of content moderation services enhances software implementation, maximizes the value of existing installation by optimizing it, and minimizes the deployment cost & risks, and others.
The cloud segment to manifest the highest CAGR through 2031
By deployment mode, the cloud segment would showcase the highest CAGR of 15.0% from 2022 to 2031. Factors such as rise in the adoption of cloud-based content moderation services due to low cost and easier maintenance drive the growth of the global content moderation services market. However, th on-premise segment held the largest share in 2021, contributing to nearly three-fifths of the market, due to the numerous advantages offered by the on-premise deployment such as a high level of data security and safety.
The video segment held the largest share
By content type, the video segment held the largest share in 2021, accounting for more than half of the global content moderation services market. Deepfake unsuitable content, explicit content, and suggestive content are damaging a person's or a company's reputation. Therefore, content moderation services for videos are being increasingly adopted to maintain the universality and dependability of online video streaming and to remove such hazardous films from the platform. However, the text segment is projected to manifest the highest CAGR of 14.5% during the forecast period. Content moderation services for texts are created to monitor user-generated content in real-time and filter the undesirable ones in accordance with the platform or regulatory requirements. By doing this, businesses are able to quickly accomplish their objectives and enhance the user experience on the platform.
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Asia-Pacific held the largest share
By region, the global content moderation services market across Asia-Pacific held the largest share in 2021, accounting for more than one-third of the market, owing to adoption of content moderation services to meet increasing demands from today's businesses to enhance their business process and improve the customer experience. However, the market across LAMEA is projected to manifest the highest CAGR of 17.5% during the forecast period. The adoption of content moderation services in this region assists to improving the business operation and increasing the company's profitability.
Major market players
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