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The global web content management market is predicted to grow at 14.7% CAGR during the forecast period with the market size reaching USD 13.0 billion by 2024. The increasing adoption of digital marketing by different industry verticals, increasing focus on customer engagement solutions, technological advancements, increasing adoption of web-based business solutions, and implementation of multi-channel customer engagement solutions are the key factors leading to the growth in the web content management market, globally.
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The increasing adoption of digital marketing by different industry verticals, increasing focus on customer engagement solutions, technological advancements, increasing adoption of web-based business solutions, and implementation of multi-channel customer engagement solutions are fueling the growth of the market. Content management is key for the enterprises to retain and engage their target customers. In the space of stiff online competition, companies are focusing on the management of content to provide customers value for their content.
With the increasing competition in the online industry, customers have high bargaining power, therefore companies are focusing on the value creation for the customer engagement, loyalty, and retention, which is anticipated to fuel the growth of the web content management market across the globe. Different companies across the globe are adopting digital marketing strategy for customer engagement and marketing their products and services. Digital marketing has become a mandatory strategic option to thrive in online business challenges. This leads to the adoption of content management solutions and services by these companies across the globe.
North America is the largest web content management industry in 2017, due to the presence of a large number of web content provider and competition among them, developed information and communication technology industry, high reliance on digital marketing solutions. Moreover, the internet penetration rate and number of smartphone users are very high in the region which provides companies to exploit business opportunities through online customer engagement. Asia-Pacific is expected to witness the fastest demand for web content management solutions and services due to the increasing internet penetration, and increasing number of smartphone users.
Market players in the web content management industry are focusing on digital marketing solutions, strengthening B2C relationship, and use of artificial intelligence and automation for catering to the demand of consumers. Oracle Corporation, Microsoft Corporation, OpenText Corporation, Adobe Systems Incorporated, E-Spirit AG, Aquia, Inc., Sitecore Corporation A/S, SDL PLC, IBM Corporation, Rackspace Hosting Incorporation, Crownpeak Technology, and Episerver, Inc. are some of the key players offering solutions in Web Content Management industry.
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