DUBLIN–(BUSINESS WIRE)–The “Asia Pacific Content Services Platform Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The Asia Pacific content services platform market was valued at USD 3198.48 million in 2020 and is expected to register a CAGR of about 21.46% during the forecast period of 2021 – 2026.
In the Asia Pacific region, the market studied is anticipated to witness rapid growth, owing to increasing data traffic and rapidly growing data and information that needs to be organized in economically developing countries, such as India and China.
Key Highlights
- The increasing growth of Internet-connected users, with a growing number of SMEs and cloud service vendors, offers significant growth opportunities in the region. Interconnection bandwidth is also accelerating in the region. For instance, according to Equinix, the region is expected to grow by 51% per annum, contributing more than 27% of interconnection bandwidth globally, owing to rapid urbanization. However, the rising data privacy and security concerns are one of the major factors limiting market growth, while increasing CSP strategy alignment with organizational strategic ambitions will further challenge the content services platforms industry.
- Additionally, the increasing demand to provide better customer experience, as well as rising usage of SMAC technologies among the population, rising need for delivering contextualized user experience, and increase of digital content across enterprises, are among the major factors boosting the PC based logic analyses market. Furthermore, during the projection period, rising adoption of end-to-end, cross-platform solutions, rising integration of RPA with CSP solutions, and increasing technological developments and modernization in the services will provide new possibilities for the content services platforms market.
- In contrast, rising data privacy and security concerns are important factors, among others restraining the market growth. Also, the increasing aligning of CSP strategy with the strategic initiatives of organizations may further challenge the content services platforms market in the forecast period. Customer expectations are shifting around data privacy, as it is a frontline issue for consumers and businesses. For a consumer, data privacy means protecting their personal information and financial health. Failure in data management systems or data leakage will have an adverse effect on the market’s growth and may deprive it of any further growth opportunities.
Key Market Trends
The Solution and Software Segment is Expected to Accounted for the Largest Market Share
- Cloud computing has revolutionized data storage in general and has a profound impact on document management systems, thus, ensuring that documents are available at any time, anywhere, allowing for scalability, making it a solution for businesses both small and large. The Asia Pacific is experiencing rapid adoption of digital management of documents to reduce its dependence on paper and easy accessibility. In a few countries, such as China, it has resulted in cutting labor costs and fueled work efficiency, which are the key motives to run businesses.
IT, Telecom, Retail, and E-commerce Segment to Witness Fastest Growth
- The telecommunications industry is undergoing massive structural change, with customer channels, content, and communication services becoming digital, resulting in creating a new value ecosystem. In the digital era, various providers are implementing high-performance networks to meet the needs of their customers. Such structural changes are creating new opportunities for workflow management services in the sector. The increasing advancement of networking technologies and devices also broadens the scope for IoT content service platforms in the market. According to the GSMA, early adoption of power-wide area networks integrated with IoT is expected to generate USD 1.8 trillion by 2026.
- With the ownership and implementation of digital transformation, the majority of the digital transformation is driven by the IT sector. With the increased data connectivity, vendors are adopting cloud and IoT-based content service platforms into the business to assist in creating and managing web content. CMS also enables tracking and management of web traffic, including visitor activities and searches.
Competitive Landscape
The market for the Asia Pacific content services platform is moderately fragmented, with few players like IBM Corporation, Microsoft Corporation, OpenText Corporation, Oracle Corporation, etc., holding a significant market share.
These companies are leveraging strategic innovations and collaborative initiatives to increase their market share and increase their profitability. The proliferation of digital content across enterprises is expected to be a significant driver of the market studied.
As CSPs focus less on storing the documents centrally but more on how an enterprise can deal with their growing data, content, and document needs, CSPs apply a robust suite of strategy and integrated technology to accomplish these goals. So, an increase in digital content across enterprises is expected to give a boost to the market.
Companies Mentioned
- IBM Corporation
- Microsoft Corporation
- OpenText corporation
- Box Inc.
- Oracle Corporation
- Hyland Software Inc.
- Laserfiche Inc.
- Hewlett Packard Enterprise (Micro Focus)
- Adobe Systems Inc.
- M-Files Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ijvr41
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