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, 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.
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Key Market Trends
The On-premises Deployment Mode Holds a Dominant Position
- The on-premises deployment type is anticipated to be a more significant contributor to the market growth during the forecast period. On-premise deployment of CSP solutions requires initial high investment by organizations, though it does not require incremental costs throughout the ownership, as in the cloud deployment type.
- Nowadays, corporate data can be accessed effortlessly from mobile devices; this has raised the amount of data transfer between business parties and has increased the risks of cyber-attacks and data losses. Therefore, security concerns associated with customers' private data are an important reason for the selection of on-premises deployment over the cloud. These kinds of implementations are widespread across large-sized enterprises.
- For instance, according to Cisco Systems in 2022, the data volume of worldwide consumer IP traffic is expected to reach 333 exabytes per month at a 27% compound annual growth rate. Besides, in 2019, according to Verizon Communications Inc., the global accommodation industry experienced 125 cybersecurity incidents in total, and professional services and the public were the most targeted sectors with 7,463 and 6,843 reported incidents respectively.
- Deploying on-premises allows users to keep the solution in-house and grow the solution as it makes sense for the organization. With an on-premises solution, the solution lives on one's infrastructure and IT department or other resources and maintains and evolves one's solution. An on-premises deployment means one can become the in-house expert on ECM solution, and changes and enhancements to one's solution are at fingertips.
North America to Have the Largest Market Size
- North America is estimated to account for the most significant share of the market. The region includes developed countries such as the United States and Canada and is recognized as the most advanced area embracing new and emerging technologies. Furthermore, the North American region shows an extensive presence of fundamental industry players giving content services platform software and services. Their financial position allows them to invest majorly in the leading tools and technologies for efficient business operations.
- North America is expected to contribute significant growth opportunities during the forecast period. The growing availability of skilled labor and intense focus from SMEs and large companies to enter and grow in this region are several factors propelling CSP's adoption in this region. For instance, according to the Bureau of Labor Statistics, the United States, in 2019, about 63.1% of the American population, skilled, participated in the job market.
- Principally, public cloud services have got massive traction in North America, as businesses seek to heighten their digital initiatives. According to the survey by LogicMonitor, 66% of respondents indicated that artificial intelligence (AI) and machine learning would drive public cloud engagement in 2020, compared with 50% who said it currently drives public cloud engagement in the United States.
- CSP has become the core of how companies work nowadays with the pressure to gain higher business activity and satisfy their clients. Companies are working on optimizing both application performance and guaranteeing excellent customer experience.
- Major vendors offering content services platforms across the globe include Microsoft, Hyland, OpenText, Box, Laserfiche, Adobe, IBM, Nuxeo, Objective, GRM Information Management, Alfresco, and Oracle.
Competitive Landscape
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.
- July 2020: EY and IBM Corporation announced an enhanced, global multi-year alliance primarily designed to help organizations accelerate their digital transformation and improve client outcomes, that includes leveraging the hybrid cloud capabilities of Red Hat OpenShift, as well as IBM Blockchain, IBM Watson, and IBM's 5G and edge technologies. Together, both the company’s professionals will focus on helping the clients in modernizing and transforming their businesses.
- May 2020 - Box, Inc. introduced the All-New Box experience to power increased productivity and collaboration. The announcement introduces Collections, a simple way to organize files and folders around the topics and workstreams important to you; the ability to add annotations to 100+ file types directly in Box Preview; and an enhanced Zoom integration that makes it easier to collaborate on content while face-to-face on video.
- May 2020 - OpenText announced Pathos Clinical Solutions, an independent, full-service clinical laboratory, has selected OpenText EMR-Link for comprehensive EMR integration, Computerized Physician Order Entry (CPOE), and secure connectivity to clinicians.
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The global Content Services Industry size is expected to grow from USD 22.6 billion in 2018 to USD 60.3 billion by 2023 at a Compound Annual Growth Rate (CAGR) of 21.7% during the forecast period.
The major factors driving the growth of the market are increasing need of enterprises to effectively use enterprise data, facilitate better collaboration among geographically dispersed teams, better control over information, and alignment of content strategy with business goals.Browse Complete Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=334475The Content Services Industry includes major vendors, such as Microsoft (US), Hyland (US), OpenText (Canada), Box (US), Laserfiche (US), Adobe (US), IBM (US), M-Files (Finland), Nuxeo (US), Objective (US), Fabasoft (Austria), Micro Focus (UK), GRM Information Management (US), Everteam (France), DocuWare (Germany), Alfresco (US), Newgen (India), SER Group (Germany), and Oracle (US).
Key players such as Hyland, OpenText, Box, and M-Files, have majorly adopted many growth strategies, such as new product launches, acquisitions, and new expansions in different countries to increase their product portfolios and grow further in the CSP market.Hyland offers OnBase flagship product in the CSP market, along with other products, such as ShareBase and AirBase.
OnBase is a single enterprise information platform that manages content, processes, and cases deployed on-premises and cloud or both.
Hyland delivers its products and services either directly or through an extensive partner network.
The company has a strong presence in the market and offers a broad set of product portfolio for CSP customers, which is evident from the number of acquisitions it has made in recent years.
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The Spirulina Market is expected to grow at a CAGR of 10.3% from 2020-2030, according to a new research report by Next Move Strategy ConsultingSpirulina is a blue green algae with high nutrient content, usually consumed by human & animals.
It is also used as a complementary diet ingredient in aquaculture & poultry feeds owing to the presence of high protein & vitamin content.According to the report, growth in health consciousness among people and the rising demand for dietary supplements are major factors driving the spirulina market growth.
Additionally, high penetration of spirulina in industries such as cosmetics and pharmaceutical owing to the advantageous properties such as anti-aging, anti-wrinkles and othersare bringing changes in market tends.However, low stability & poor sustainability of spirulina derived colours is expected to restrict the market growth.Moreover, growth in research & development activities followed by untapped market opportunities in developing economies are anticipated to provide numerous opportunities to the market players in the coming few years.On the basis of type, spirulina market share is segmented into Arthrospira Platensis and Arthrospira Maxima.
Arthrospira Maxima dominates the global Spirulina market and will be the dominant throughout the forecasted period.On the basis of application, the Spirulina market is categorised into Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others.Food & Beverages segment is likely to develop significantly over the period of time owing to fast growing food & beverage industry.On the basis of drug formulation, the spirulina market is bifurcated into Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent.
Powder segment is expected to account for the major market share & dominate the market growth over the forecast period.North America dominates the spirulina market in terms of market size over the forecast period, owing to rising health consciousness among people.
Hansen Holding A/S, Algenol Biofuels Inc., Dongtai City Spirulina Bio-engineering Co., Ltd., Prolgae, Parry Neutraceuticals, Sensient Technologies Corporation, DDW Inc., Algatec and Naturex S.A.Browse key industry insights from the report, “Spirulina Market Size By Type (ArthrospiraPlatensis and Arthrospira Maxima) By Application (Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others), By Drug Formulation (Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent)Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020–2030” in detail along with the table of contents:Key Insights from the Spirulina Market Report:Asia Pacific is the fastest growing region in Spirulina market owing to the rising demand of spirulina from various industries such as cosmetics, food , healthcare and others and government initiatives to promote local spirulina production.The Food & Beverages segment dominates the market in terms of application and is expected to grow at a significant CAGR to maintain the lead till 2030.Some of the major players in the market are DIC Corporation, Cyanotech Corporation, Chr.
