Web Content Management Software Market Estimated to Lock an Ineffaceable Growth | 17% CAGR
- ehteshampeerzade
- Sep 24, 2020
- 3 min read
Market Highlights
The global Web Content Management Software Market was analyzed by Market Research Future (MRFR) and it was projected that a massive CAGR of 17% will be attained by the market over the forecast period of 2017 to 2023. The valuation of the Web Content Management Software Market was further stated to surpass its previous figure and reach a calculated valuation of USD 11 Billion by the end of the forecast period.
Key Drivers and Primary Barriers
The COVID-19 outbreak and the resultant lockdown continue to affect the world economy. However, the Internet has emerged as a prime solution to deal with the pandemic spread as it is helping gain information with regard to various aspects of the public. From education to healthcare, and from retail to sales, the strong IT infrastructure has ensured continuous business flow as well as dissemination of accurate data. Although the COVID-19 impact has been significant, the Internet has helped companies to adapt to the major changes and continue with their work. With that said, the unexpected changes in the internet traffic patterns have led to challenges in terms of managing the digital content found on a website. Therefore, a number of websites that offer critical updates with regard to the novel coronavirus are increasing opting for the web content management software to deal with the voluminous traffic content currently witnessed.
As a result of the considerable surge in the internet use along with the massive smartphone proliferation worldwide since the SARS-CoV-2 outbreak, the web content management market has been on a rapid upward trajectory. One top market trend can be the escalating demand for CaaS/content as a service to be experienced as EaaS/ as a service, primarily among renowned technology vendors and to better review the customer behavior so they are able to provide an enhanced customer service. Another important market trend can be the increasing innovations in PaaS/ cloud platform as a service, given that several companies are now opting for cloud to conduct business as they bring down the cost of maintenance as well as subscription services.
Experts project favorable prospects for the web content management software market due to the growth in data driven digital and online techniques for catering to the customers and their evolving requirements. Most of the key contenders in the market are increasingly innovating and launching new and advanced models and services to expand their product portfolio and outrival other competitors.
For instance, in July 2020, Strapi, a leading web content management system firm, released its latest enterprise editions that help boost the RBAC/ Role-Based Access Control capabilities for enhanced governance and security.
Segmentation:
The global Web Content Management Software Market Size has been segmented in terms of deployment, vertical, organization size, and components.
By components, the market divides into services and solutions.
By deployment, the market segments into on-premises and cloud-based deployment. Among these, the cloud-based segment accounted for the largest share in the global market. This is due to benefits like speed of deployment and low-level of cost. However, the on-premise segment is anticipated to grow during the forecast period at the highest pace. This is due to the expanding number of large enterprises that require storage of content at a digital capacity.
By organization size, the market breaks down into medium, small, and large size.
By vertical, the market comprises Retail, BFSI, Education, Media and Entertainment, Hospitality, Healthcare, Manufacturing, Government, Hospitality and Others.
Regional Insight
The geographical distribution of the web content management software industry comprises Europe, Asia Pacific/APAC, North America and RoW/rest of the world.
At present, North America is the global leader and is touted to remain so throughout the review timeline. With the expansive IT infrastructure and the fast consumption rate of the latest technologies, North American remains one step ahead of other regions. Some other factors that work in favor of the regional market can be the high amount of focus that goes into research & development, especially in the United States as well as Canada. These countries are technically progressive and house some of the world renowned web content management software companies, which can be another major factor that promotes market growth.
A noteworthy development in the global market can be APAC’s fastest advancement rate from 2017 to 2023. Since the region is home to a fast increasing number of emerging firms in the field of software solutions, software development and electronics, the web content management market here is bound to observe garner profits in the ensuing years. The leading contenders in the region are immensely focused on boosting their revenues by offering personalized content, push the online interaction level with their customers and are also interested in expanding their brand presence, as a result of which the market is presumed to progress at a bullish rate in the following years.
Renowned Industry Vendors
The renowned industry vendors profiled by MRFR analysts are Oracle Corporation (U.S.), Hewlett Packard, Inc (U.S.), International Business Machine Corporation (U.S.), Dell EMC (U.S.), Open Text Corporation (Canada), Adobe Systems Inc. (U.S.), to name a few.
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