Sarasota, FL -- (SBWIRE) -- 08/23/2018 -- Zion Market Research has published a new report titled "Web Content Management Market by Deployment Pattern (Cloud, On-Premises, and Hybrid), by End-Use Industry (Retail, IT & Telecom, Education, Government, BFSI, and Others), and by Solution (Marketing Campaign Management, Mobile Content Management, Multi-Site Management, Content Analytics, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024". According to the report, the global web content management market accounted for USD 4.9 billion in 2017 and is expected to reach USD 14.2 billion globally by 2024, growing at a CAGR of around 16% between 2018 and 2024.

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Web content management is a system consisting of tools that enable enterprises to manage digital data on their website. Due to the technological advancements in various industrial sectors, web content management has become a crucial part of an organization growth. Web content management tools help firms to create, modify, display and analyze content on their website.

Over the past decade, the IT industry has grown at a remarkable rate. In 2015, the global revenue generated by the IT sector was almost USD 4,400 billion as compared to USD 3,433 billion in 2010. This growth is due to the increasing number of offshore development centers in the Asia Pacific region. IT industry in India alone generated revenue of about USD 120 billion in 2015 as compared to USD 60 billion in 2008. This number is anticipated to grow as the IT sector in India is projected to reach USD 250 billion in 2020. Thus, rising IT sector in Asia Pacific region is proving to be a major driver for the web content management market.

Governments of various countries such as the U.S., China, Canada, and India, among others are investing heavily in the education sector. In 2016, the U.S. government allocated a budget of USD 70.4 billion, about USD 3.6 billion more than that allocated in 2015. The Indian government also increased its budget for education by 9.9% in 2017 from 2016. Digitalization has paved the way for institutions to offer education as an independent service. Online courses combined with an augmented supply of learning resources have introduced the trends of personalized education. Thus, it is predicted that education segment will fuel the growth of the web content management market during the forecast period.

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Global web content management market is bifurcated as per solution into marketing campaign management, mobile content management, multi-site management, content analytics, and others. Mobile content management is estimated to dominate the web content management market during the forecast period. The share is attributed to the increasing adoption of smartphones in e-commerce transactions. Further, the web content management market is segmented on the basis of end-user industry into retail, IT & telecom, education, government, BFSI, and others. The retail segment is projected to hold a substantial share during the projected time frame.

North America will witness a significant rise in web content management during the estimated timeframe. The U.S. is projected to lead the web content management market during the forecast period. This growth is attributed to the rising investments in the IT sector. In the Asia Pacific, the contribution of developing economies such as China and India in the growth of the market is noteworthy. This growth is due to the increasing investments in digitalization projects conducted by the government. Thus, the Asia Pacific market is anticipated to grow at a significant rate during the forecast period.

Some of the major competitors in the web content management market are Oracle Corporation, Adobe Systems Inc., IBM Corporation, Microsoft Corporation, OpenText Corporation, SDL Plc, Sitecore Corporation A/S, Acquia, Inc., Rackspace US, Inc., and Episerver, Inc., among others.

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The report segments the global web content management market as follows:

Global Web Content Management Market: Deployment Pattern Segment Analysis

Cloud
On-Premises
Hybrid
Global Web Content Management Market: End-Use Industry Segment Analysis

IT & Telecom
BFSI
Retail
Education
Government
Others

Global Web Content Management Market: Solution Segment Analysis

Marketing Campaign Management
Mobile Content Management
Multi-Site Management
Content Analytics
Others