Web Content Management Market by Type, by Deployment Type, by Organization Size, by Industry, by Geography - Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023
NEW YORK, Jan. 13, 2020 /PRNewswire/ --
Web Content Management (WCM) Market by Type (Solution [Digital Marketing Content Management, Mobile & Social Media Content Management, Web Experience Management, DAM, Web Creation & Editing Tools, Content Analytics], Service [Training & Support, Implementation, Consulting]), by Deployment Type (Cloud, On-Premises), by Organization Size (Large Enterprises, SMEs), by Industry (Media & Entertainment, Retail & Consumer Goods, Education, Healthcare, Travel & Hospitality, BFSI, Telecom & IT, Government), by Geography (U.S., Canada, China, Japan, India, Australia, South Korea, Saudi Arabia, U.A.E., South Africa, Italy, Germany, France, Russia, U.K., Spain, Brazil, Mexico) - Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023
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Web content management market is expected to reach $11,035.4 million by 2023, the market growth is buoyed by increasing demand for digital marketing solutions, multi-channel customer experience management, and increasing adoption of customer engagement strategies by business organizations.
The WCM solution category held a larger share of over 70% as compared to service category in the market in 2017. The key factors contributing to the growth of the market include increasing spending on digital marketing platforms for promotion of products and related brands; and increasing number of internet users in the Europe and APAC regions.
Based on solution, the digital marketing management category held the largest share in the WCM solution market, accounting for nearly 29% share in 2017. Rise in spending on digital marketing by organizations; and growing demand for digital marketing management in hospitals, and media & entertainment are the key factors contributing to the growth of this category. Further, it has been recorded that North America invested more in digital advertisement, followed by Asia and Europe.
Based on deployment type, cloud based WCM category held a larger share in the WCM market in 2017. It is expected to continue holding a larger share throughout the forecast period. This is attributed to growing demand for cloud-based WCM solutions among small and medium enterprises (SMEs); as it is more secure and cost effective as compared to on-premises.
Based on organization size, SMEs are expected to be the faster growing category, advancing at a CAGR of 16.1% during the forecast period. This is attributed to surge in demand for smart content management; digital asset management (DAM); technology integration system; and web-based analytics to improve their marketing.
The web content management market in APAC is expected to record fastest CAGR during the forecast period, on account of growing e-commerce industry in countries like China and India as well as increasing number of internet users in the region; wherein India is predicted to be the fastest growing WCM market, globally, during 2018-2023.Initiatives taken by the Indian government such as "Digital India" campaign which was launched in 2015 would support the market growth. Organizations are predominantly focusing on enhancing web-user experience and customer relationship management. Moreover, SMEs in the region are also increasingly adopting WCM solutions to compete with large enterprises.
The substantial increase in demand for digital marketing solutions is one of the key factors driving WCM market growth. The growing demand for digital marketing influenced vendors to provide various solutions including web analytics and social media integration. Business organizations are taking into consideration customer experience management to integrate their multifaceted websites which requires WCM solutions to supplement multi-channel and digital marketing. Hence, increase in demand for digital marketing is driving web content management market growth.
The intensity of rivalry among players in the web content management market is moderate. In the recent past, product launches, partnerships, and client wins have been the major activities in the WCM market. SDL plc, a key player in the market has been focusing on partnerships and collaborations to strengthen its market position. OpenText Corporation, another key player is winning contracts related to content management solutions. While, Adobe Systems Incorporated and Sitecore Corporation are other key players focusing on these developments. Some of the other key players operating in the market are Oracle Corporation, International Business Machines (IBM) Corporation, Open Text Corporation, Adobe Systems Incorporated, SDL plc, Acquia Inc., Episerver Inc., Microsoft Corporation, Episerver Inc., and Rackspace US Inc.
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