(MENAFN- EIN Presswire) Global content management software market expected to reach a value of around USD 1,43,907 million by 2027, at a CAGR of around 16.5% between 2019 and 2027.
NEW YORK, UNITED STATES, February 25, 2020 / EINPresswire.com / -- Facts and Factors Market Research has published a new report titled ' Content Management Software Market By Deployment Mode (Cloud and On-Premises), By Organization Size (Large Enterprises and SMEs), and By Vertical (BFSI, Government & Public Utilities, Education, Healthcare & Lifesciences, Defense, IT & Telecom, Publisher & Broadcaster, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2027.'
According to the report, the global content management software market was valued at approximately USD 36,378 million in 2018 and is expected to reach a value of around USD 1,43,907 million by 2027, at a CAGR of around 16.5% between 2019 and 2027.
A content management system is a software application or set of related programs that is/are used for creating and managing huge volumes of digital content. These software applications are mostly web-based that allow multiple users, with different permission levels, to manage data, content, or information of a website project or internet/intranet application. These applications are commonly used for enterprise content management and web content management. Enterprise content management involves workplace collaboration by integrating digital asset management, document management, and records retention functionalities alongside providing users with role-based access to an organization's digital assets. Web content management facilitates collaborative authoring for websites.
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Need for regulatory content management for improved operations majorly driving the content management software market
The primary growth driver of the content management software market is the rising regulatory content management demand for improved operations of an enterprise. Organizations are subjected to regulatory rules for efficiently managing corporate data. Governments across the world are enforcing various policies and acts and data breach laws that organizations need to follow to effectively conduct business. Enterprises in the healthcare and BFSI sectors develop content and information policies that need to comply with government regulations, as they work with users' sensitive information. Content management software facilitates cost reduction when compared to isolated regulation-specific compliance programs. Content management software further aids the organizations in aligning their data usage and communication, recording management, etc.
The on-premises segment is projected to dominate the deployment mode segment
In 2018, the on-premise systems segment held more than 61.41% of share in the content management software market. It is also estimated to grow at a CAGR of 13.6% over the forecast period, owing to its ability to have total control on sensitive data of an organization.
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IT and telecom sector is likely to lead the vertical segment in the future
The IT and telecom segments will be the fastest-growing in the future in the content management software market. It will register a CAGR of 16.8%, owing to the flourishing global IT sector and the sector's rising need for document management. In 2017, this segment accounted for a 22.64% share of the global market.
Asia Pacific to record the highest CAGR over the estimated timeline
Asia Pacific is the fastest-growing content management software market and will register CAGR of 18.4% in the future. This can be attributed to the increasing focus and investments on healthcare data management, rising content management software awareness, growing R & D expenditure, and accelerating penetration of small- and medium-scale organizations across the region.
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Key players operating in the content management software market are Awmous, Hyland Software, Higher Pixels, Kentico Software, Contentful, ClubRunner, KINDFUL, Open Source Matters, Rakuten, Third Light, WordPress Foundation, Xerox Corporation, Webflow, Progress Software Corporation, Panopto, Wrike, Softnews Media Group, Dries Buytaert and Drupal Association, and Adobe Systems, among others.
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This report segments the content management software market into:
Global Content Management Software Market: By Deployment Mode
Cloud
On-Premises
Global Content Management Software Market: By Organization Size
Large Enterprises
SMEs
Global Content Management Software Market: By Vertical
BFSI
Government and Public Utilities
Education
Healthcare and Lifesciences
IT and Telecom
Publisher and Broadcaster
Defense
Others
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