User Generated Content Platform $ 18.65 Billion Market Size by 2028: Grand View Research, Inc.

SAN FRANCISCO, July 19, 2021 / PRNewswire / – The world user-generated content platform market size is expected reach USD 18.65 billion by 2028, according to a new report from Grand View Research, Inc. The market is expected expand at a CAGR of 26.6% from 2021 to 2028. User Generated Content (UGC) or User Generated Content Platform can be defined as software as a service (SaaS) that helps organizations select images, videos and text from social media and other online resources to reuse them and create your authentic authentic story. . The use of user-generated content for marketing purposes is on the rise. The authenticity and creativity of these messages have been leveraged to generate positive business results. As more marketers take advantage of this relatively new form of advertising, careful attention must be paid to how this content is marketed, so as not to tread the very different waters of influencer marketing.

Insights and key findings:

  • The rapid growth of digital music has contributed to the explosive rise in user-generated content, such as virtual concerts on Twitch or Fortnite, and music as a viral meme from Triller and TikTok. TikTok has certainly changed the paradigm on how entertainment / music fans discover, create and share music.
  • The increasing use of smartphones with high-speed Internet technologies, such as 3G, 4G, and LTE, has led to increased data consumption and production of user-generated content, such as live video and live podcasts.
  • In terms of product type, the audio and video segment (including live streaming) captured the largest share of revenue in 2020. Factors such as increased engagement with customers, high potential for sharing on social media platforms, the availability of high-speed internet and detailed product information is expected to drive the audio and video segment (including live streaming).
  • To gain a competitive advantage in the market, players have started to adopt the strategy of expanding the customer base by raising funds for the development of their platform. For example in March 2021, Yotpo, an e-commerce marketing platform that helps accelerate direct-to-consumer growth, announced an increase USD 230 million in financing the Series F. This initiative was aimed at financing to accelerate the company’s e-commerce marketing platform.

Read the 112 page market research report “User-generated content platform Market size, share and trend analysis report by product type {Audio and video (including live streaming), websites}, by end user (companies, individuals) and segment forecasts , 2021-2028by Grand View Research.

For example, Travelex, a UK-based currency exchange company, started a campaign by launching a 12-month photo contest campaign. The company made use of exclusive hashtags like #Travelxwow to urge its audience to participate, capture their best photos, and share on Instagram, Twitter, or directly through their own website. Through this initiative, the company aims to increase social engagement and obtain data from potential users.

The advent of digital commerce and the growing dislike of consumers for intrusive marketing tactics have led many advertisers and brands to introduce user-generated content to engage and connect with consumers.. New formats, such as augmented reality (AR) filters and lenses and live streaming, have given consumers new ways to create content. They have given marketing agencies new strategies for leveraging user-generated content as part of their advertising and marketing efforts. For example in March 2020Twitch’s, an American live video streaming service, claims that its audience increased by 31% as more people connected with the live streaming platform. For brands and their agencies, the use of UGC has many benefits for advertising and marketing purposes. Among them are highly trusted online content, strong brand affinity and engagement, more earned media, strong search engine optimization (SEO), and new research opportunities.

However, The downside of marketing and advertising through user-generated content is related to the requirement for close supervision, as negative content is unavoidable.. It requires a person or team to monitor, filter, and review user-generated content before publishing it, resulting in additional costs and time for organizations. Also, moderating UGC can lead to a Black Hat SEO attack. Therefore, a dedicated team of supervisors is required to publish the content. Another prominent factor restricting the growth of the UGC market is unknown and unreliable sources. Since people may be reluctant to trust a random review or content with no authoritative background, the credibility of marketing content is questioned. Plus, accusing the system of fake accounts and aliases is easy with so many different content contributors. Therefore, some consumers are unlikely to trust UGC like others.

Grand View Research has segmented the global market for user-generated content platforms based on product type, end user, and region:

  • UGC Platform Product Type Outlook (Revenue, USD Million, 2017-2028)
    • Blogs
    • Websites
    • Advertising and promotions
    • Social media
    • Audio and video (including live streaming)
    • Others
  • UGC Platform End User Insights (Revenue, USD Million, 2017-2028)
  • UGC Platform Regional Outlook (Revenue, $ Million, 2017-2028)
    • North America
    • Europe
      • UK
      • Germany
      • France
      • Turkey
      • Russia
    • Pacific Asia
      • porcelain
      • Japan
      • India
      • South Korea
      • Indonesia
      • Thailand
      • Vietnam
  • South America
  • middle East Y Africa (MEA)
      • Saudi Arabia
      • Israel
      • Kuwait
      • United Arab Emirates

List Of Key Players Of The User Generated Content Platform Market

  • CrowdRiff
  • Curator
  • Monotype Imaging Inc.
  • Olapic Inc.
  • Pancake Laboratories, Inc.
  • Pixlee
  • Stackla Pty Ltd.
  • DYE
  • Turnto
  • Yotpo
  • Yuema Inc.

See more studies related to content and digital marketing, by Grand View Research:

  • Web content management market – The global web content management market is set to grow during the forecast period. This can be mainly attributed to the increased use of the Internet and the proliferation of smartphones. An increase in demand for online and data-driven digital techniques to meet customer requirements effectively is also expected to fuel market demand.
  • Online video platform market – The size of the global online video platform market was valued at USD 5.43 trillion in 2019. It is expected to expand at a compound annual growth rate (CAGR) of 17.3% from 2020 to 2027. An online video platform (OVP) is paid software that allows content owners and publishers to transcode , manage and store, publish, track and monetize online video content on your channels.
  • Digital Marketing Software Market – The size of the global digital marketing software market was valued at USD 43.8 billion in 2019 and is expected to record a CAGR of 17.4% from 2020 to 2027. Digital marketing software enables companies to build and strengthen their relationship with customers using multiple digital marketing channels.

Explore Grand View Research’s coverage of the Global Next-Generation Technology Industry.

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About Grand View Research

Grand View Research, a US-based market research and consulting firm, offers syndicated and customized research reports and consulting services. Registered in California and based in San Francisco, the company comprised more than 425 analysts and consultants, and added more than 1,200 market research reports to its extensive database each year. These reports offer an in-depth analysis of 46 industries in 25 major countries around the world. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.

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