Web Content Management Market Research Report: By Type (Solution, Service), Deployment Type (Cloud, On-Premises), Enterprise (Large Enterprises, SMEs), Industry (Media & Entertainment, Retail & Consumer Goods, Education, Healthcare, Travel & Hospitality, BFSI, Telecom & IT, Government) - Global Industry Analysis and Growth Forecast to 2030
With the expansion and improvements in the telecommunications infrastructure, more people are using the internet than ever. With time, the internet has become a cost-efficient and highly effective marketing tool for companies around the world. This is why businesses are spending considerably on digital marketing strategies and uploading catchy text, videos, pictures, audio, and infographics on webpages, to attract customer interest. The internet has become so popular for companies that some of them exclusively promote their products and services on social media, search engines, emails, websites, and mobile apps.
Now, merely uploading content on webpages isn’t enough; companies must also know what to upload, in what form, and when. Therefore, with the increasing spending on digital marketing strategies and efforts to gain the most out of them, the web content management (WCM) market, which generated $5,894.8 million in 2019, will grow to $36,422.8 million by 2030, at a robust 18.4% CAGR between 2020 and 2030, says P&S Intelligence. WCM tools allow even people with no technical knowledge to create, upload, and update content on websites.
As per reports, businesses across the globe will spend $517.1 billion by 2023 on digital advertising alone. Apart from merely uploading and refreshing the content, analyzing its effects on lead generation and customer conversion is also important. Moreover, with such a high spending, companies are looking to cut costs elsewhere, such as limiting the staff required to look after the digital content. This is boosting the adoption of multi-channel customer experience management tools, which bring all of the channels that a user markets through, be it email, social media, websites, or app and game advertisements, on the same platform.
A variety of WCM solutions are available these days, including web experience management, digital marketing content management, digital asset management, mobile & social media content management, web creation & editing, and content analytics. Of these, digital marketing content management tools witness the highest demand presently, on account of the increasing digital marketing spending and rising requirement for such solutions in the media & entertainment and healthcare industries. With such tools, organizations can enhance their advertising strategies, improve their brand visibility, and gain customers.
As such solutions can be slightly expensive, they are majorly used by large enterprises, for digital asset management, smart content management, web-based analytics, and technology integration. But now, with the increasing need to sustain themselves, even small and medium enterprises (SME) are adopting WCM tools, especially those available via the cloud. Such solutions decrease the spending on IT servers and racks and can be scaled up or down at will. Moreover, cloud-deployed WCM solutions can be accessed from anywhere, at any time, from any internet-connected device. This way, companies can adopt the bring-your-own-device (BYOD) policy and further reduce their operational expenditure.
The web content management market of North America is the most lucrative for software vendors presently, as such solutions are being widely used by companies to promote their products and those in the media & entertainment sector. Further, numerous large enterprises exist in the region, which are generally the first in the world to adopt advanced technology. Additionally, compared to 83% in 2019, 90% of North Americans will have internet access by 2025-end, which is why regional businesses are spending heavily on digital marketing.
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