Introduction of Artificial Intelligence (AI) in Content Marketing
Over the past few years, artificial intelligence has been widely accepted in content marketing and is also considered as the fastest growing segment of the digital marketing industry. The rising relation between AI and content management improves the marketing technique to attract the potential customers. The main purpose of AI in content marketing is to make the process adaptive, interactive, flexible and intelligent according to customers’ needs and interest. Most of the business are shifting towards digital platform in order to interact with the customers. For delivering personalized content experiences, marketers have successfully implemented AI capabilities, including Machine Learning, into previously manual operations such as search engines Google Now and Apple’s voice assistant Siri. These factors are likely to fuel the market growth over the forecast period.
Digitization of Enterprises by Cloud Technology
According to Internet World Stats Report 2019, there are 4 billion internet users in the world. The content management market has witnessed huge growth with the introduction of cloud computing. Enterprises started to shift their workload from manual mode into cloud-based model to increase efficiency of workflow. The market is changing its business methodology and the cloud-based deployment mode is estimated to witness highest growth rate in the coming years. The providers of cloud services help the enterprises to understand the new technology and its effect in near future. Introduction of CMS in human resource management offers better process to manage the workflow from recruitment to retirement. These factors are projected to boost the market growth over the forecast period.
Small scale industries are not able to afford the CMS software for managing their data due to high cost of EPMs software. However, lack of technical knowledge and less awareness about the benefits of cloud technology and artificial intelligence also limits the market growth in near future.
The global content management market is anticipated to record a significant CAGR of 16.5% over the forecast period i.e. 2019-2027. The market is segmented by end-user into aerospace & defense, BFSI, public sector, retail, healthcare, IT & telecom, energy & utilities, manufacturing and others, out of which, IT & telecom segment accounts for leading market share on the back of growing use of artificial intelligence in content marketing. Additionally, the use of content software by the enterprises to handle the important documents, images and sheet drives the market over the forecast period. Also, growing requirement of digital content for online marketing is likely to propel the market growth in near future.
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Our-in depth analysis of the global content management software market includes the following segments:
On the basis of regional analysis, the global content management software is segmented into five regions North America, Europe, Asia Pacific, Latin America and Middle East & Africa region
The market in North America is expected to display a strong growth on the back of high awareness of the content management software and growing adoption of advanced digital methods for smoothen the workflow in the industry. Further, the Europe market is anticipated to induce a growth owing to increasing demand of new software and innovative technology.
The market in Asia Pacific region is anticipated to witness highest growth during the forecast period on account of rising number of software based companies and low operational cost.
The global content management software market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.