during the forecast period. In hyper-competitive verticals, such as media and entertainment, retail and eCommerce, and IT and telecom, WCM plays a vital role in efficiently managing workflows, leading to publication on the web.
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Factors such as customers’ shift toward video-based content across the Over-The-Top (OTT) space and the adoption of AR and VR to enable companies to modify website content drive the growth of the WCM market across the globe.
In a short time, the COVID-19 outbreak has affected markets and customer behaviors.It has had a substantial impact on economies and societies.
COVID-19 impacts are foreseen to shift consumer demand to online channels.This may irreversibly change customer behavior as once people get into the habit of shopping online, it becomes a routine, and it is hard to get away from it easily, forcing companies to escalate their online presence.
There was an immediate and widespread impact of COVID-19 on customer behavior across all industries. For instance, the education industry has been one of the most affected industries, especially when it comes to publishing and distributing content to students, and staff, and faculty members.
The services segment is expected to grow at a higher CAGR during the forecast period
The global WCM market is segmented on the basis of components into solutions and services.Based on the solutions segment, the market is divided into standalone and integrated.
The services segment is further divided into managed services and professional services.The services segment is expected to grow at a higher CAGR during the forecast period.
This growth is attributed to the growing digitalization and increasing customer shift toward online purchases, which have made it difficult for companies to cope with the ever-increasing volumes of customer data and extract actionable real-time insights from the data during the pandemic.
The integrated solution segment is expected to hold a larger market size during the forecast period
On the basis of solution, the WCM market is segmented into standalone and integrated solution .The integrated solution segment is expected to hold a larger market share during the forecast period.
The integrated WCM solution is offered as a part of a suite or platform, in which WCM is offered as a capability or feature.It is integrated with a single solution to provide various benefits to end users.
These benefits include personalization, editing tools, document management, digital asset management, and record retention. Users can get multiple data protection capabilities out of a single solution.
Among verticals, the healthcare and life sciences segment to grow at the highest CAGR during the forecast period
The WCM market is segmented into the various verticals, particularly BFSI, IT and telecom, retail and eCommerce, healthcare and life sciences, government, travel and hospitality, media and entertainment, education, and others (transportation and logistics, energy and utilities, and manufacturing).Key factors favoring the growth of WCMs across these verticals include the rising technology advancements and the growing availability of industry-specific WCMs.
Healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period.The need to maintain patient records and improve patient care in real-time across different channels drives the adoption of WCM solutions and services.
Moreover, demand for enhanced patient experiences and quality care for personalized treatments in real-time to drive the WCM market growth among healthcare and life sciences vertical.
North America to hold the largest market size during the forecast period
The WCM market has been segmented into five regions: North America, Europe, APAC, MEA, and Latin America.Among these regions, North America is projected to hold the largest market size during the forecast period.
North America is expected to be the largest contributor among all the regions for the adoption of WCMs.The top countries contributing to the WCM market growth include the US and Canada.
Organizations in various countries of this region, especially in the US, have leveraged AI, Machine Learning (ML), and deep learning technologies as a part of their ongoing business process to stay ahead in the market. These countries have a well-established economy, which enables WCM vendors to invest in new technologies.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the WCM market.
• By Company: Tier I: 34%, Tier II: 43%, and Tier III: 23%
• By Designation: C-Level Executives: 50%, Directors: 30%, and Others: 20%
• By Region: North America: 25%, APAC: 30%, Europe: 30%, MEA: 10%, and Latin America: 5%
The report includes the study of key players offering WCM solutions and services.It profiles major vendors in the global WCM market.
The major vendors in the global WCM market include Adobe (US), Microsoft (US), Oracle (US), OpenText (Canada), Progress (US), IBM (US), Upland Software (US), RWS (UK), HubSpot (US), HCL (India), e-Spirit (US), Sitecore (US), Kentico (Czech Republic), Frankly Media (US), Duda (US), Agility (Canada), GX Software (Netherlands), Solodev (US), Siteglide (UK), Amplience (England), Contentful (Germany), Contentstack (US), Storyblok (Austria), Brandcast (US), Webflow (US), Bynder (Netherlands), Docsie (Canada), GraphCMS (Germany) Pantheon (US), and Strapi (France).
The market study covers the WCM market across segments.It aims at estimating the market size and the growth potential of this market across different segments, such as components, solutions, application, organization size, deployment mode, vertical, and regions.
It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall WCM market and its subsegments.It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies.
It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05090300/?utm_source=GNW
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