The Global User Generated Content Platform Market size is expected to reach $13.7 billion by 2027, rising at a market growth of 24.3% CAGR during the forecast period. With the help of User Generated Content (UGC)/ User Created Content Platform, brands become empowered to collect the company’s mentions or visual product references such as short videos from social media and other sources with an aim to repurpose them to facilitate sales, marketing, and advertising efforts. In the last few years, the adoption of user-generated content for marketing and branding advertising purposes has been substantially increased. This is credited to the massive use of social media and messaging platforms where a growing number of people are becoming content creators just by using their mobile devices.
Marketers, agencies, and publishers are leveraging this trend by adopting unique ways. User-generated content platform is quickly emerging as a marketing and advertising strategy that can impact the marketing and hence guarantees its boost. This is a major shift in the adoption of UGC that previously involved top-down influencers as part of the concept of UGC.
The partnership between a brand and a user is one of the popular streams of user-generated content. Many brands redesign the concept of UGC for their advantages and marketing, fan art, sharing brand-inspired customer testimonials across various social network sites. For example, GoPro, Inc. uses fan-created content and advertises unique customer-generated video content on their Youtube Channel. Moreover, Amazon.com, Inc. takes the help of the customer reviews to get repositioned on the website. It is capable of assisting the companies to enhance their ranking as a majority of the customers check online reviews before the final purchase.
As COVID-19 remains one of the major concerns for the majority of the countries around the world, companies have been compelled to look for alternatives to the complicated studio installations, massive budgets, and massive production value - all of the conventional desires for an impactful advertising program. A strategy that helps the companies to succeed is the clever usage of user-generated content (UGC) as it uses genuine expectation for human connection, and bolsters a community.
In various ways, the adoption and popularity of UGC platforms have increased significantly during pandemic times. Moreover, the pandemic and its ensuing restrictions have only boosted the dominance and popularity of these platforms as companies, agencies, and brands were facing various sorts of content production restrictions. In addition, UGC is specifically appropriate during crisis times, as a growing number of individuals are searching for motivational, uplifting, and directly connected content that is relatable to them. UGC, being an excellent storytelling tool behaves as the link between brands and their audience as it helps in bringing the community closer and offers a higher sense of belonging and unity. Therefore, COVID-19 has accelerated the demand & growth of the user-generated content platforms market.
User-generated content (UGC) is an authentic method that motivates brands to use it frequently. Different people come up with unique content as every person is different and they perceive and express things in their own unique manner. In addition, people usually reflect their creativity in the content they create. When people start using UGC as their content type, they present something new each time they post the content.
Many new initiatives in the marketing world use user-generated content (UGC). They may embed it on their website to engage visitors, improve dwell time, and lower bounce rates, and simultaneously increasing the attractiveness of their website. One of the most notable advantages of user-generated content is that it is easily available with simple curation that requires little to no effort and capital investment.
In the virtual world, one can help the users to discuss what they desire, upload any appropriate images, and express opinions in a desirable manner. Unfortunately, there is a high requirement for supervision and moderation of the user content. Many people can become uncivilized online which could harm the reputation of the brand. Therefore, UGC platforms would witness a declined growth over the forthcoming years.
Based on Product Type, the market is segmented into Audio and Video (including live streaming), Social Media, Advertising & Promotions, Websites, Blogs and Others. Video content published across different social media channels obtain a significantly higher engagement as compared to other forms of user-generated content. For example, in December 2020, Comscore, Inc., a media measurement and analytics company based in America, noted that the paid content along with UGC increased the conversion rate significantly. The growth of the live streaming video segment in the UGC market would be fueled by the monetization integrated into video applications.
Based on End User, the market is segmented into Enterprises and Individual. The individual segment would display the maximum growth rate during the forecast period. The massive increment in the number of mobile phone users and the massive adoption rate of social media channels has increased the accessibility of the UGC. Each person has now become the main content creator. For example, millions of photos are posted on Facebook, millions of photos and videos are shared through Instagram, and millions of tweets are posted on Twitter.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 2.8 Billion |
| Market size forecast in 2027 | USD 13.7 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 24.3% from 2021 to 2027 |
| Number of Pages | 186 |
| Number of Tables | 283 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Product Type, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America emerged as the leading region in the user-generated content platforms market in 2020. Factors such as the presence of a large number of ICT solution vendors and a huge customer base are responsible for the growth of this segment. The region is defined by a huge number of content platform vendors like Emplifi Inc.; Taggbox.com; and Pancake Laboratories, Inc. Strategic initiatives like mergers & acquisitions would create growth opportunities for advertising and marketing companies to bolster their video content libraries.
Free Valuable Insights: Global User Generated Content Platform Market size to reach USD 13.7 Billion by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include CrowdRiff, Yotpo Ltd., Walls.io, Stackla Pty. Ltd. (Nosto Solutions Oy), TINT (Filestack), Social Native (Olapic), Emplifi Inc., Bazaarvoice (Curalate, Inc.), Monotype Imaging Holdings, Inc. (HGGC), and PowerReviews.
By Product Type
By End User
By Geography
Companies Profiled
The global user generated content platform market size is expected to reach $13.7 billion by 2027.
Uniqueness and cost-effectiveness of UGC are driving the market in coming years, however, high requirement for supervision limited the growth of the market.
CrowdRiff, Yotpo Ltd., Walls.io, Stackla Pty. Ltd. (Nosto Solutions Oy), TINT (Filestack), Social Native (Olapic), Pixlee, Bazaarvoice (Curalate, Inc.), Monotype Imaging Holdings, Inc. (HGGC), and PowerReviews.
Yes, UGC, being an excellent storytelling tool behaves as the link between brands and their audience as it helps in bringing the community closer and offers a higher sense of belonging and unity. Therefore, COVID-19 has accelerated the demand & growth of the user-generated content platforms market.
The audio and video segment emerged as the dominating segment by procuring the maximum revenue share in 2020.
The Asia Pacific would display the maximum growth rate during the forecast period. Factors such as the growing number of technological developments, massive utilization of mobiles and tablets, and the popularity of social media platforms in developing countries like India and China are responsible for the massive growth of the regional market.
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