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In a Fragmented Market, Home-grown Solutions Restrict Revenue Growth and North America Remains the Primary Focus for Market Expansion
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Consumption of news and entertainment has evolved; consumers want access to information anytime, anywhere, and across devices. This is driving the adoption of CMS to deliver content across form factors. The need for this shift in media consumption habits is the result of changing expectations of consumers who are demanding news and media platforms to deliver a seamless user experience across devices. For the purposes of this study, total revenue is derived from a cumulative total of revenues generated by enterprise CMS solution, not including open-source CMS and home-grown solutions. While home-grown solutions are the biggest competition for this market, future scalability issues are expected to drive demand back to proprietary solutions.Overall revenue grew by 9.5% year-on-year in 2018 and is expected to experience strong growth during 2019-2024 with a CAGR of 17.2%. Most of the revenue growth comes from the proliferation of devices and the need for media organizations to deliver a seamless experience and grab the attention of end users across devices. The continued increase in volumes of media content is necessitating the adoption of content management solutions in the media industry. Growth opportunities in the market will come from diversification into new media, increase in adoption from small and medium size media organizations with the growth of cloud deployments and replicating CMS media offerings for the education vertical, empowering higher education institutions to monetize their research.
This research service covers the following:
The base year of the study is 2018, with forecasts running up to 2024. The research highlights key trends impacting the global proprietary content management solutions market for the media and entertainment vertical and outlines future implications. These trends include hyper connectivity, proliferation of devices and growing digitization of news in Asia-Pacific.
Geographical Segmentation: The global market has been segmented into North America, Latin America (NALA), Asia-Pacific (APAC), and Europe, the Middle East, and Africa (EMEA).
Key Issues Addressed
Readers who can benefit from the content found in this research include CMS vendors serving the needs of the media vertical, broadcasters, educational institutions, newspaper and magazine vendors looking to identify the best CMS solutions to meet their needs and CMS vendors looking to expand their presence in the media industry.
Author: Deviki Gupta
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