Market Trends of User-Generated Content Platform Industry
Development of AI and machine learning
- The use of AI and ML technologies could help user-generated content platforms improve their analysis, enhance the user experience, and offer more relevant content for users. Moreover, these technologies might help to identify problems that may arise from hate speech or fake news and thus improve the quality of content on this platform.
- With the formation of multiple partnerships, investment in projects, and launching new products on the market, companies are increasing their market share. For instance, in November 2022, strategic investment in AntiToxin, Inc., dba, L1ght, an anti-toxicity AI company, was announced by TaskUs Inc., a provider of outsourced trust and safety and digital customer experience services to fast-growing technology companies. L1ght's technology leverages AI to recognize and analyze harmful online content. The investment will assist the launch of the Safety Operations Center. This integrated solution utilizes L1ght's AI and TaskUs' moderation professionals to safeguard the users of social networks, dating apps, and online marketplaces.
- In June 2022, Claid.ai, an AI company that helps marketplaces improve user-generated images, launched an end-to-end image processing platform, Claid API 2.0. Claid's technology automatically enhances photos, removes backgrounds, aligns products on the canvas, and fixes lighting. Claid has already optimized over 100M user-generated photos for some of the major US players.
- The user-generated content platform market is constantly evolving, with new trends and changes in user behavior shaping the industry. Furthermore, AI and machine learning can help to personalize the user experience on user-generated content platforms.
- By analyzing user behavior and preferences, these technologies can recommend relevant content, products, or services to users. This can increase engagement and retention on the platform, as users are more likely to continue using a platform that provides them with personalized recommendations. Therefore, the development of AI and machine learning technologies will be a key factor in the future success of user-generated content platforms.
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Asia-Pacific Witness the Fastest Growth
- Asia-Pacific region was expected to have a substantial share of the global user-generated content platforms market in 2022. In emerging economies like India and China, this growth is driven by an increase in the usage of smartphones and the increasing popularity of social networking sites.
- The rapid growth of the User-Generated Content Platform Market in this region is also due to increased technology developments, as well as broad adoption within IT & telecommunications. The positive growth of the user base is driven by an increase in demand for IoT and associated devices, together with increased deployment of broadband network platforms.
- Also, the region has witnessed a rapid increase in internet penetration, with more people gaining access to the internet through mobile devices and improved connectivity. This led to a larger user base for UGC platforms. As per the China Internet Network Information Center, the Internet Penetration Rate of Rural data was reported at 61.90 % in December 2022. This recorded an increase from the previous number of 58.80 % for June 2022.
- In May 2022, the launch of the User Generated Content Platform was announced by Pink Lemonade Communications, a global full-service, integrated marketing and communication agency. The Pink Lemonade UGC Studio is designed by a team of authentic and common people who are enthusiastic about creating content that will inform, educate, or entertain the audience.
- Meanwhile, during the same month of May 2022, BUD, a metaverse user-generated platform, introduced its USD 36.8M Series B round led by Sequoia Capital India with participation from ClearVue Partners, NetEase, and Northern Light Venture Capital. In addition, the round was attended by existing investors GGV Capital, Qiming Venture Partners, and Source Code Capital.
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