11 Nov 2020
Posted in Technology
Data and content management revenue in APAC to witness 1.8% CAGR between 2019 and 2024, forecasts GlobalData
Data and content management revenue in the Asia-Pacific (APAC) region is expected to grow at a compound annual growth rate (CAGR) of 1.8% over the period 2019-2024, driven by the rise in enterprises’ need to organize, categorize and structure the content in a meaningful manner, says GlobalData, a leading data and analytics company.
The growth will be primarily driven by China and Japan, which together would be accounting for around 59% of the overall data and content management revenue in the region. Increasing demand for optimizing business process and improving efficiency are set to propel the adoption of data and content management solutions in the region.
Siddharth Tiwari, Technology Analyst at GlobalData, comments: “Enterprises are inclined to SaaS-based data and content management software as they exhibit the potential to provide flexibility, cost-effectiveness and are easy to manage. Cloud-based offerings are assisting organizations with the capabilities of the minimum hardware requirements by optimal and shared utilization. The large presence of SMEs across APAC augments the adoption of relatively low-cost cloud-based data and content management solutions for different business needs.”
Exponential growth in the web and mobile generated content through varied sources like blogs and social media platforms have resulted in the growth of structured as well as unstructured content, which has, in turn, led to the increased proliferation of data and content management solutions’ adoption amongst the enterprises.
Mr. Tiwari continues: “The demand for data and content management is likely to be more in large enterprises as these companies have a huge amount of data in their repository, which can only be handled with this solution. Enterprises are considering improving their data and content management, increasing the ease-of-use and accessibility of their solutions by implementing cloud deployment, which would also provide the additional benefits of lower costs and less maintenance.”
In terms of verticals, manufacturing will witness the highest growth rate in the data and content management market, followed by energy. Data and content management solutions in these sectors offer various benefits such as the extended life of content for a regulatory purpose, centralize location and quick access for content, and efficient management and publication of content.
Mr. Tiwari concludes: “New developments related to data and content management bring an exciting new realm of possibilities as enterprises are looking to automate and modernize the workplace and empower next-gen workforce. Furthermore, increasing adoption of cloud analytics and growing inclination toward data integration would further increase the adoption of data and content management solutions in the coming years.”