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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. nIn 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.
Scope of the Report
The Asia Pacific Content Services Platform Market is Segmented By Component (Solution/Software, Services ), Deployment Type (On-premise, cloud), By Organization Size (Small and Medium-sized Enterprises, Large Enterprises), End-user Industry (BFSI, Government and Public Sector, Healthcare and Life Sciences, IT, Telecom, Retail, & E-commerce, Transportation and Logistics), and Geography.
The term "content service platform" refers to software that is built on SaaS that allows users to produce, collaborate, and exchange audio and video content. The content service platform includes features such as data capture, document and record management, workflow management, and indexing. Because of features such as vendor invoice management, contact management, and information management, content service platforms are now widely employed in businesses.
|By Deployment Type|
|By Organization Size|
|Small and Medium-sized Enterprises|
|By End-user Industry|
|Government and Public Sector|
|Healthcare and Life Sciences|
|IT, Telecom, Retail, & E-commerce|
|Transportation and Logistics|
|Other End-user Industries|
|Rest of Asia Pacific|
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.
- In recent years, China's General Administrative of Customs (GAC) introduced the Paperless Customs Clearance Pilot Reform, allowing customs declaration information to be stored and transferred through computers and other electronic media and automatically reviewed. GAC also promoted paperless customs documents for price reviews to support China's national customs clearance integration reform and improve customs clearance's overall efficiency. Moreover, China has also been witnessing an increased need to adopt document management solutions to curtail the illegal logging in the trade and transport sectors, which is expected to boost the demand for DMS.
- Further, there have been growing environmental concerns in India in line with digital transformation and adoption of intelligent devices in the country, which is flourishing the paperless trend in India and resulting in the rapid adoption of document management solutions. Some of the major sectors of the Indian Government have either partially or entirely moved to Online and Offline Document Management Systems. In recent years, Lok Sabha announced that the lower house has become paperless to cut costs and save trees, with Members of Parliaments using digital documents to write questions. Educational institutions in India have also been implementing document management solutions for safety purposes. For instance, Manipal Academy of Higher Education (MAHE), an educational institution in India, moved to a paperless document management system to organize their records and data to build up data efficiently.
- Also, the increasing concern about productivity and shortage of labor with a greying and shrinking population in countries like Japan are driving such nations toward digitalization in every sector. In addition, the Japanese Government plans to shift toward digital management of most public records by the time the new National Archives of Japan building opens in 2026, aiming to prevent the record management problems that have hindered the growth of the Government. Australia received the support for a paperless way back than other Asia-Pacific countries. For instance, the Australian Taxation Office (ATO) affirmed its support of digital filing in 2002. It implemented a series of Tax Rulings that would act as a guideline for electronic record keeping.
- Furthermore, the National Digital Health Strategy, approved by all the states and territories through the Council of Australian Governments (COAG) Health Council, prioritizes eliminating paper-based messaging in healthcare. The Agency has been working with the software industry and healthcare providers in developing standards that will improve the secure exchange of healthcare information. This system will benefit customers as it will avoid the frustration of repeatedly explaining their condition to five different people and enable healthcare professionals to share information quickly and securely.
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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.
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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.
- July 2021 - EY and IBM announced an enhanced, global, multi-year alliance primarily designed to help organizations accelerate their digital transformation and improve client outcomes, which include 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 may focus on helping the clients in modernizing and transforming their businesses.
- April 2021 - OpenText showcased the new Content Services Platform at AIIM conference 2021. Delivered as part of OpenText Cloud Editions 21.2, OpenText Core Content and OpenText Core Case Management are multi-tenant cloud offerings that are quick and easy to deploy and can be tailored to address a unique line of business, departmental, and industry needs.
- April 2021 - Box, Inc. and KKR, a global investment firm, announced an agreement for KKR funds to lead a USD 500 million investment in the company in the form of convertible preferred stock. The investment from KKR will advance the company’s strategy to deliver the Box Content Cloud and expand its presence in key international markets.
- June 2020 - IBM and SAP SE announced their partnership’s next evolution, with their plans to develop multiple new offerings that are designed to create a more predictable journey for the businesses to become data-driven intelligent enterprises.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitute Products
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Adoption of SMAC Technologies
5.1.2 Increase of Digital Content Across the Enterprises
5.1.3 Demand for Delivering Contextualized User Experience
5.2 Market Restraints
5.2.1 Data Privacy and Security Concerns
6. MARKET SEGMENTATION
6.1 By Component
18.104.22.168 Document and Records Management
22.214.171.124 Data Capture
126.96.36.199 Workflow Management
188.8.131.52 Information Security and Governance
184.108.40.206 Case Management
220.127.116.11 Other Solutions
6.2 By Deployment Type
6.3 By Organization Size
6.3.1 Small and Medium-sized Enterprises
6.3.2 Large Enterprises
6.4 By End-user Industry
6.4.2 Government and Public Sector
6.4.3 Healthcare and Life Sciences
6.4.4 IT, Telecom, Retail, & E-commerce
6.4.5 Transportation and Logistics
6.4.6 Other End-user Industries
6.5 By Country
6.5.4 South Korea
6.5.5 Rest of Asia Pacific
7. COMPETITIVE LANDSCAPE
*List Not Exhaustive
7.1 Company Profiles
7.1.1 IBM Corporation
7.1.2 Microsoft Corporation
7.1.3 OpenText corporation
7.1.4 Box Inc.
7.1.5 Oracle Corporation
7.1.6 Hyland Software Inc.
7.1.7 Laserfiche Inc.
7.1.8 Hewlett Packard enterprise (Micro Focus)
7.1.9 Adobe Systems Inc.
7.1.10 M-Files Inc.
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Asia Pacific Content Services Platform Market market is studied from 2019 - 2026.
What is the growth rate of Asia Pacific Content Services Platform Market?
The Asia Pacific Content Services Platform Market is growing at a CAGR of 21.46% over the next 5 years.
Who are the key players in Asia Pacific Content Services Platform Market?
IBM Corporation, Microsoft Corporation, OpenText corporation, Oracle Corporation, Box Inc. are the major companies operating in Asia Pacific Content Services Platform Market.