Market Trends of Content Services Platforms Industry
This section covers the major market trends shaping the Content Services Platforms Market according to our research experts:
The On-premises Deployment Mode Holds a Dominant Position
- The on-premises deployment type is anticipated to contribute to the market growth during the forecast period significantly. On-premise deployment of CSP solutions requires initial high investment by organizations, though it does not require incremental costs throughout the ownership, as in the cloud deployment type.
- Nowadays, corporate data can be accessed effortlessly from mobile devices; this has raised the amount of data transfer between business parties and has increased the risks of cyber-attacks and data losses. Therefore, security concerns associated with customers' private data are an important reason for the selection of on-premises deployment over the cloud. These kinds of implementations are widespread across large-sized enterprises.
- For instance, according to Cisco Systems, in 2022, worldwide consumer IP traffic data volume was expected to reach 333 exabytes per month at a 27% compound annual growth rate.
- Moreover, Russia's volume of data transferred via mobile internet continuously increased. In 2021, the mobile data traffic volume increased by 131% compared to the previous year.
- Deploying on-premises allows users to keep the solution in-house and grow the solution as it makes sense for the organization. An on-premises solution lives on one's infrastructure, IT department, or other resources and maintains and evolves one's solution. An on-premises deployment means one can become the in-house expert on ECM solutions, and changes and enhancements to one's solution are at the user's fingertips.
- Moreover, the threats to the integrity, confidentiality, and obtainability of organization information are increasing exponentially in countries such as India. Thus, it has become mandatory to focus on providing a standardized information security model based on a business risk approach to establish, implement, operate, monitor, review, maintain, and improve overall information security for customers.
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Asia-Pacific is Expected to Gain Significant market Share
- In the Asia-Pacific region, the market is anticipated to witness rapid growth, owing to the increasing data traffic and rapidly growing data and information that needs to be organized in economically developing countries, such as India and China.
- Also, the increasing concern about productivity and shortage of labor with a greying and shrinking population in countries like Japan is 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.
- Cloud adoption in the region is increasing at a rapid pace, which is expected to impact the market growth over the forecast period positively. Moreover, Singapore is one of the most cloud-ready regions in Asia-Pacific (APAC). 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 in ongoing efforts to deliver citizen services faster and cheaper. This is anticipated to impact the market growth positively.
- Public cloud facilities have achieved enormous momentum in the region as companies are trying to improve their digital initiatives. Content service platforms have become the essence of how companies function nowadays to attain higher company agility and meet their clients. Organizations are also collaborating to optimize implementation efficiency and ensure excellent client experience.
- Digital transformation is rapidly becoming a top priority in multiple countries and moving rapidly as a greater number of companies are implementing formal strategies to support their efforts.
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