Dublin, Nov. 22, 2021 (GLOBE NEWSWIRE) -- 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.
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.
Further, the increased adoption of social, mobile, analytics, and cloud (SMAC) technologies and the proliferation of digital content across companies are driving the content services platform industry. Cloud adoption in the region is increasing at a rapid pace, which is expected to positively impact the growth of the market studied over the forecast period. Moreover, Singapore is one of the most cloud-ready regions in Asia-Pacific. It overtook the position of Hong Kong in the latest iteration of the Asia Cloud Computing Association's (ACCA) Cloud Readiness Index (CRI). Additionally, Singapore's government is anticipated to move the bulk of its IT systems to commercial cloud services over the forecast period as part of ongoing efforts to deliver citizen services in a faster and cheaper way. This is anticipated to positively impact market growth.
The COVID-19 pandemic positively impacted the market studied, as they move to the cloud was accelerated as a response to the COVID-19 pandemic with the need to implement and maintain content flow to employees as and when they need it. Also, government bodies were forced to adopt electronic means of operations and digitalization. For instance, in India, Aarogya Setu and other allied initiatives, like the National e-Health Authority and new tele-medicine guidelines, are coalescing toward a National Health Stack, which is aimed to be completed by 2022. From fulfilling healthcare needs in remote areas to building data-driven public policy on health, the use of technology fulfils many roles, and most importantly, in some of the most remote areas of the country.
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.
With digital document management, Paperless Trail Inc.'s Philippines-based company drives a shift in business processes with Archive one in July 2020. Furthermore, Archive One is a document management software that acts as an auditing tool by automatically classifying, storing, securing, and retrieving critical documents. It is especially useful in the IT-BPM sector, where companies typically employ thousands of people, giving them a massive amount of data to track. Also, Paperless Trail Inc. emphasizes the significance of embracing the new normal in business and effectively moving compliance and document management to the digital space in response to the challenges organizations face due to technological advancements.
The market is witnessing an APAC-focused distribution agreement catering to the cloud, on-premises, and hybrid models. For instance, in July 2021, Tech Data and Syniti have formed a new distribution alliance in the Asia-Pacific region. The collaboration enables enterprises in the Asia-Pacific to deploy Syniti Data Replication in various ways, including cloud, on-premises, and hybrid models.
Further, Syniti Data Replication is a low-touch, flexible solution that provides a consistent copy of data ready for analytics, data warehousing, and other applications while not interfering with the responsiveness of business-critical systems. Its comprehensive Change Data Capture (CDC) ensures that business data is kept up to date to support real-time performance reporting and analytics systems. This will assist businesses in strengthening their data and analytics capabilities and enabling large-scale go-to-market initiatives.
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.
Hyland Software Inc.
Hewlett Packard Enterprise (Micro Focus)
Adobe Systems Inc.
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