Information Communication and Technology Reports CSP Market Report | Page 2

access to CSP solutions through the IT infrastructure hosted by the cloud service provider. Therefore, SMEs and
single users prefer deploying CSP solutions in the cloud to improve mobility and decentralize data storage and
computing. Security is a critical issue that restricts the adoption of cloud services.
The healthcare and life sciences vertical is expected to grow at a higher CAGR during the forecast period. CSP plays
a crucial role in exchanging digital medical information between different institutions at a faster rate, which can
considerably reduce emergency response downtime. Moreover, CSP solutions ensure that medical facilities are
complying with the healthcare norms, such as Healthcare Information Portability and Accountability (HIPAA) Act
set by the respective agencies, thereby encouraging the adoption of CSP solutions to share digital content among
stakeholders. Additionally, in healthcare and life sciences organizations, content provided through online articles
and blogs, interactive videos, newsletters, digital magazines, and infographics educate patients with the reliable
information and help them recover from ailments.
In terms of geographic coverage, the Content Services Platforms Market has been segmented into 5 regions,
namely, North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. APAC is
expected to grow at the highest CAGR in the global CSP market during the forecast period. APAC comprises major
economies, such as China, Japan, Australia, and New Zealand, and the rest of APAC includes India, South Korea,
and Singapore. Moreover, the major growth factors for the CSP market in APAC including increasing BYOD trend,
compliance regulation, and mobile usage are driving the adoption of CSP solution. The enterprises of the APAC
countries are looking forward to the adoption of CSP solutions for application development and APIs, content and
system security, workflow and process management, and collaboration and productivity to remain competitive in
the global market.
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