At a CAGR of 31.6% User Generated Content Platform Market with USD 71.3 Million and CAGR of 31.6% | Says AMR
An increase in the use of influencer marketing is a key driver for the growth of the user-generated content platform market.
PORTLAND, PORTLAND, OR, UNITED STATES, September 30, 2023 /EINPresswire.com/ — According to the report, the global user generated content platform market generated $4.7 billion in 2022, and is anticipated to generate $71.3 billion by 2032, witnessing a CAGR of 31.6% from 2023 to 2032.
The growth of the global user-generated content platform market is driven by factors such as an increase in the use of influencer marketing, the rise in demand for authentic content, and the uniqueness and cost-effectiveness of user-generated content. However, the high requirement for supervision is a major factor that hampers the growth of the market. Moreover, the development of AI and machine learning presents new opportunities in the coming years.
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Covid-19 Scenario:
• The outbreak of the Covid-19 pandemic accelerated the demand & growth of the user-generated content platform market.
• With people spending more time at home due to lockdowns and social distancing measures, there was a significant increase in user-generated content across various platforms. This led to a surge in engagement on social media platforms like Facebook, Instagram, and Twitter, which has been a positive development for businesses and content creators who rely on these platforms to reach their audiences.
Based on product type, the audio and video segment held the highest market share in 2022, accounting for around one-third of the global user-generated content platform market, due to the popularity of the video and audio-based content on the UGC platforms. However, the social media segment is projected to manifest the highest CAGR of 36.9% from 2023 to 2032, and is estimated to maintain its leadership status throughout the forecast period, due to a rise in the number of social media platforms such as TikTok and Instagram.
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Based on end users, the enterprises segment held the highest market share in 2022, accounting for more than two-thirds of the global user-generated content platform market, and is estimated to maintain its leadership status throughout the forecast period, due to the increase in the user-generated content for the promotion and marketing of the products and services. However, the individual segment is projected to manifest the highest CAGR of 34.4% from 2023 to 2032, as UGC platforms are becoming the source of revenue generation for users.
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global user-generated content platform market, due to the presence of key players and the rise in spending on UGC platforms in the region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 35.6% from 2023 to 2032, and is likely to dominate the market during the forecast period, due to rapid technological advancements, and the popularity of social networking sites in emerging economies, such as China and India.
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The key players profiled in the user-generated content platform market analysis are CrowdRiff, Monotype Imaging Inc., Brandbassador, Pixlee TurnTo, Taggbox.com, TINT, Yotpo, Grin Technologies Inc., Upfluence and Wyng, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key benefits for stakeholders:
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the user-generated content platform market analysis from 2023 to 2032 to identify the prevailing user-generated content platform market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the user-generated content platform market segmentation assists in determining the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
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