The global Content Services Market size is expected to grow from USD 22.6 billion in 2018 to USD 60.3 billion by 2023 at a Compound Annual Growth Rate (CAGR) of 21.7% during the forecast period. The major factors driving the growth of the market are increasing need of enterprises to effectively use enterprise data, facilitate better collaboration among geographically dispersed teams, better control over information, and alignment of content strategy with business goals.
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The Content Services Market includes major vendors, such as Microsoft (US), Hyland (US), OpenText (Canada), Box (US), Laserfiche (US), Adobe (US), IBM (US), M-Files (Finland), Nuxeo (US), Objective (US), Fabasoft (Austria), Micro Focus (UK), GRM Information Management (US), Everteam (France), DocuWare (Germany), Alfresco (US), Newgen (India), SER Group (Germany), and Oracle (US). The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Hyland, OpenText, Box, and M-Files, have majorly adopted many growth strategies, such as new product launches, acquisitions, and new expansions in different countries to increase their product portfolios and grow further in the CSP market.
Hyland offers OnBase flagship product in the CSP market, along with other products, such as ShareBase and AirBase. OnBase is a single enterprise information platform that manages content, processes, and cases deployed on-premises and cloud or both. OnBase has enabled enterprises to transform across the globe by empowering them to become more agile, efficient, and effective by offering ECM, case management, BPM, and records management, and capture data on a single central platform. Hyland delivers its products and services either directly or through an extensive partner network. The company has a strong presence in the market and offers a broad set of product portfolio for CSP customers, which is evident from the number of acquisitions it has made in recent years. It has acquired OneContent, Perspective business unit, and Acrosoft which has improved its customer base and product portfolio extensively. Moreover, this acquisition strategy has improved the value of its CSP platform significantly.
OpenText offers Content Suite Platform and Documentum Platform products which were acquired from Dell EMC. These products are available as on-premises, private and public cloud, managed hosted, SaaS and hybrid deployment models. The company’s CSP offering integrated with various applications from companies, such as Salesforce and SAP. OpenText has extensively focused on the acquisitions strategy, which can be seen from the number of acquisitions the company has made in recent years. This strategy has enhanced its product portfolio in the CSP marketspace and enabled the company to maintain a significant position in the CSP market. Moreover, the acquisitions strategy has enhanced the CSP offering and further improved the brand image of the company among end users. OpenText is a good fit for regulated verticals and firms looking for expansive content services that meet varied use cases and business processes of unstructured content.
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