Technological Advancement Will Drive User-Generated Content Platform Market in Future
According to our latest market study on the User-Generated Content Platform Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Content Type, Organization Size, and Geography,” the user-generated content platform market was valued at US$ 4.38 billion in 2022 and is expected to reach US$ 36.20 billion by 2030; it is estimated to register a CAGR of 30.2% from 2022 to 2030.
AI is expanding quickly in the tech sector, with applications seen in the food and supply chain industries, chatbots, and content and picture development. The development of artificial intelligence and other technologies has completely changed how user-generated content is created and curated. Algorithms driven by AI examine user preferences, make tailored content recommendations, and improve the user experience in general. Technologies such as virtual reality and augmented reality enable users to immerse themselves in interactive and engaging user-generated content. Moreover, integrating artificial intelligence with UGC helps produce unique text, images, videos, music, and even artwork. Thus, AI meets a lot of the requirements of marketing professionals. AI-generated content provides benefits such as saving energy and time and cost-effectiveness. Also, it can easily create personalized and consistent content. AI algorithms can sift through vast amounts of user-generated content, identifying relevant, high-quality content for brand use. Marketers can save time and effort by using these algorithms to automatically tag, filter, and categorize information based on predetermined criteria. AI systems can comprehend user preferences and interests by evaluating user-generated content (UGC) and then recommending experiences or items that are appropriate. Customers feel understood and appreciated when they receive this level of customization, which increases engagement and boosts conversion rates. Moreover, AI-powered sentiment analysis technologies are able to examine user-generated content (UGC) across several platforms and identify sentiments, views, and patterns. With the help of this insightful information, marketers can adjust their tactics in real-time, handle client complaints, and take advantage of favorable sentiment. Thus, technological advancements are expected to drive the user-generated content platform market in the near future.
User-Generated Content Platform Market — by Geography, 2022
User-Generated Content Platform Market Growth Analysis Report & Share by 2030
Download Free SampleUser-Generated Content Platform Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Content Type (Social Media Content, Audio and Video, Advertising and Promotions, Blogs, Websites, and Others) and Organization Size (Large Enterprises and SMEs)
The North America user-generated content platform market is segmented into the US, Canada, and Mexico. The US is expected to have the largest share of the market. The market in the US is anticipated to register the highest CAGR over the forecast period in the North America user-generated content platform market. The US is home to many of the world’s most popular social media platforms. According to a survey, there were ~268.5 million active social media users in 2022 in the US. According to DOO Finder, Facebook is the majorly used social media platform representing 53% share of social media site visits. Further, the increasing use of AI-based short video platforms in the US is expected to boost the user-generated content platform market in the country.
User-Generated Content Platform Market Segmental Analysis:
Based on content type, the user-generated content platform market is segmented into social media content, audio and video, advertising and promotions, blogs, websites, and others. The audio and video segment of the user-generated content platform market is expected to register the highest CAGR in the forecast period. The audio and video content offers numerous benefits for brands. Moreover, audio and videos draw increased attention from users as they provide complete insight into the product. With the use of audio and video for brands, user-generated content platforms increase sales and boost marketing campaigns. All such factors contribute to the growth of the user-generated content platform market.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies operating in the market. A few recent key market developments are listed below:
- In May 2022, Pink Lemonade Communications announced the launch of the UGC (User Generated Content) studio. The studio is brings together 1,100+ content creators. These creators will provide increased engagement for brands with relatable reels and videos made by real people in real-life scenarios.
- In February 2021, Pixlee Inc. and TurnTo Networks Inc. announced their merger. The merger allows brands that use both platforms to access user-generated content and reuse the content throughout the e-commerce business more easily.
- In February 2020, Zee5 announced the launch of user-generated content platform named Hypershots to compete with TikTok. Hypershots has 90-second user-generated content, created by celebrities and commoners.
- In August 2019, TikTok announced the launch of an awareness campaign on the safe use of user-generated content. Through the one-month-long campaign, TikTok aims to reach users of pan India.
- In June 2019, Nykaa's UGC platform, Nykaa Network, crossed one million subscribers. On average, 40,000 active weekly users engage on the Nykaa Network. Expert Lives on the platform sees traffic of 20,000 users in a span of just two hours. The platform has nearly 100,000 answers to 50,000 questions.
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