Content Services Platforms Market worth $101.6 billion by 2027

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. Key factors that are expected to drive the growth of the market are the content services platform solutions that are becoming more popular as the requirement to manage massive amounts of corporate data generated from numerous sources across organizations grows.

Content services can be fundamental building blocks of new-generation ECM that can deliver customized enhanced ECM applications. To effectively utilize enterprise content, organizations must leverage and build customer-centric applications. To achieve this, the content platform should possess all the necessary functionalities, such as content capture, content processing and storage, workflow management, case management, and archival of information of document and records management. All these functionalities need to be available through a system that can be easily consumed by end users irrespective of their location. Content services platform has enabled organizations to securely manage unstructured corporate data and generate information crucial for business operations. It enables organizations to eradicate ad-hoc processes by providing compliance with major security and regulatory standards.

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Open Text is a publicly traded business founded in 1991 based in Ontario, Canada, specializing in the design, development, and marketing of Enterprise Information Management (EIM) software, services, platforms, and solutions. OpenText has offices across the Americas. With over 125 offices throughout the world, it serves EMEA and the Asia Pacific. Its Content Cloud platform consists of several solutions, including Extended ECM, Core Content, and Documentum, all of which offer a comprehensive set of content services.

OpenText focuses primarily on integrating with top corporate apps to automate operations and adhere to governance requirements. It has a robust set of integration options for top corporate line-of-business apps. Microsoft Dynamics, Salesforce, SAP, and SAP SuccessFactors are among them. In addition, OpenText offers a well-designed and freshly renovated Microsoft Teams interface in Extended ECM. OpenText has a truly worldwide presence and a robust network of over 600 external countries to deploy and assist global clientele. Its extensive community of collaborators, distributors, and Integrators supports direct sales and customer service. The company provides solutions to numerous industry verticals, including energy, public sector, utilities, financial services, healthcare, insurance, legal, life science, manufacturing, media & entertainment, and engineering & construction.

The content services platform market is segmented on verticals into BFSI, government & public sector, healthcare & life sciences, telecommunications, IT & ITeS, manufacturing, energy & utilities, retail & consumer goods, media & entertainment, and other verticals (hospitality, education, and transportation & logistics). As per verticals, the healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period. The healthcare and life sciences vertical faces a lot of difficulties to store, organize, and use all of their data in a standardized manner as organizations grow more data-driven and enter the digital market. It can be managed using a single Healthcare Content Services (HCS) platform that can pull together diverse, unorganized information sources from across an enterprise, as well as corporate imagery information. The requirement for a new generation of HCS is being driven by a need to safely acquire, examine, and incorporate patient and member information into core business platforms.

Some of the major content services platform market vendors are Microsoft (US), IBM (US), Open Text (Canada), Hyland (US), Box (US), Laserfiche (US), Adobe (US), Oracle (US), M-Files (US), SER Group (Germany), GRM Information Management (US), Intalio (France), Micro Focus (UK), Newgen (India), Kyochera (Japan), DocuWare (Germany), DocStar (US), Objective (Australia), and D.velop (Germany).

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