The Web Content Management (WCM) Market size is expected to grow from USD 6.0 billion in 2020 to USD 13.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 17.6% during the forecast period. The major factors driving the growth of the WCM market include the demand by organizations to increase their revenue by delivering personalized content for customers, increasing the interactions with the online customers, and maintaining the brand presence.
By component, the solutions segment to hold a larger market size during the forecast period
WCM solutions consist of digital marketing management, mobile and social content management, web experience management, digital asset management integration, web creation and edit tools, and content analysis. These solutions enable organizations to provide enhanced user experiences by serving clients, partners, prospects, and employees through web and mobile devices. In addition, the demand for personalized content delivery is high due to higher success rates. This is done through web analytics. WCM also caters to the management of the overall digital content that can be deployed whenever necessary. The building of localized content is vital, which enhances the brand presence within a specific region.
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By vertical, the retail and consumer goods vertical to grow at highest CAGR during the forecast period
In this highly competitive market of retail and consumer goods, brand positioning is the key to higher revenues. This is a highly customer-centric industry that requires high-quality content delivered on various platforms, such as web, social media, email, and electronic devices. Many retailers and consumer goods companies are leveraging the internet by launching their eCommerce sites. This is an effective way to increase the ROI due to the absence of physical stores. eCommerce platforms require high-quality content that should be uniform across platforms. Expectations of customers from this industry are higher due to the competition. The retail industry has access to customer data, which is further used for promotions, marketing campaigns, and targeted ads. The data acts as the fuel for increasing revenue. The WCM system drives traffic, which increases sales and brand awareness. The WCM is also implemented for feedbacks from the customers and writing blogs of the products. The WCM is used for advanced web analytics, which includes time surfed in the site, which product attracted the customer, and which area of website was visited the most. This helps in the advertisement of certain products, which aim to influence the customer to make a purchase. The proper planning and execution of digital marketing campaigns can also be done by WCM systems. Search Engine Optimization (SEO) improves organically with proper digital marketing.
Major WCM vendors include IBM Corp. (US), Adobe Inc. (US), OpenText Corporation (Canada), Oracle Corporation (US), Microsoft Corporation (US), Progress Software Corporation (US), Upland Software Inc. (US), SDL plc (UK), Sitecore (US), Crownpeak (US), Acquia (US), Episerver (US), Rackspace Inc. (US), e-Spirit (US), Percussion software (US), Kentico (Czech Republic), Angler Technologies (India), Contentful (Germany), HCL Software (India), and MODX (US). These market players have adopted various growth strategies, such as partnerships, agreements, collaborations, and product launch/enhancements, to expand their presence in the WCM market. Partnerships, agreement and collaborations have been the most adopted strategies by major players from 2017 to 2020, which helped companies innovate their offerings and broaden their customer base. Many started to deliver WCM solutions on cloud.
Adobe (US) is one of the leading players in the WCM market. The company excels in creative media software products and digital marketing software. They enable creative professionals to produce high-quality content across personal computers, devices, and media. It has three segments: digital media, digital experience, and publishing. Adobe Experience Manager is a comprehensive content management system. It has the capability to incorporate the headless approach i.e. running the apps without Graphical User Interface (GUI) for modern application development. Currently, Adobe is working toward enhancing its market share and presence with the help of some growth strategies, such as Adobe announced in January 2020 that Adobe Experience Manager will be offered as a cloud-native Software as a Service (SaaS) application. It was previously adopted on-premises or as a managed service.
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OpenText (Canada) is another leading vendor in WCM market space. OpenText WCM is its product that is integrated into customer experience management. It is a highly flexible and connected platform. It combines content, process, and applications for an immersive experience. Multi-channel interactions are supported in OpenText WCM. The company is focusing on both organic and inorganic growth strategies to gain a competitive edge in the WCM market. For instance, in February 2020, OpenText announced the release of the latest version of WCM solution and its improved features. These features will help OpenText hold the existing customers and attract new customers.
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