User-Generated Content Platform Market Growth Analysis Report & Share by 2030

[Research Report] The user-generated content platform market size 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.

Analyst Perspective:

The user-generated content platform market has been growing rapidly in recent years owing to factors such as the rise in the adoption of social media platforms, the increase in the use of influencer marketing, and the emergence of online shopping. Audio and video content are increasingly becoming popular forms of user generated content. Many brands are preferring audio and video content in their advertising and marketing campaigns. Platforms such as YouTube, Facebook, and Instagram have immense popularity. Moreover, user generated content platforms are advancing with growing technologies such as artificial intelligence, virtual reality, and augmented reality to innovate the ways to create and share content for users. Thus, the user-generated content platform market is growing constantly with emerging technologies.

User-Generated Content Platform Market Overview:

A user generated content platform is a software-as-a-service (SaaS) that helps users to share images, videos, and other online media to support marketing efforts for brands. A user generated content platform curates and cultivates user generated, influencer, and short-form video content to scale content efforts. This content is then used across channels, including website, email, advertising, events, and in-store. A user generated content platform is majorly used by travel agencies, the hospitality industry, consumer packaged goods (CPG) providers, retailers, and many other industries. The content curated and cultivated by user generated content platform fills content gaps, adds scale, builds trust, and enhances credibility to deliver against objectives such as awareness, conversion, and advocacy. There are various types of user generated content, such as videos, images, social media content, product reviews, testimonials, live streams, blog posts, and YouTube content. The adoption of user-generated content (UGC) is essential as it builds trust and engages consumers. It also saves time and resources for brands. User generated content helps brands increase their reach, awareness, and conversions while fostering customer loyalty. With the tough competition requiring huge marketing costs, brands struggle to reach the right audience effectively. In such a scenario, user generated content platform is an essential tool.

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User-Generated Content Platform Market: Strategic Insights

Market Size Value in	US$ 4.38 billion in 2022
Market Size Value by	US$ 36.20 billion by 2030
Growth rate	CAGR of 30.2% from 2022 to 2030
Forecast Period	2022-2030
Base Year	2022

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User-Generated Content Platform Market Driver:

Surge in Use of Social Media Platforms to Drive User-Generated Content Platform Market

With strong internet connectivity and the huge adoption of smartphones, the use of social media has become one of the most popular online activities these days. Social media usage is an integral part of daily internet usage among users. According to the Datareportal April 2023,  more than half of the world, i.e., 60%, uses social media. 4.80 billion people worldwide use social media, and 150 million new users have come online within the last 12 months. According to Target Internet, the top three social networks are Facebook, YouTube, and WhatsApp in terms of user counts. Facebook has over 65.86% of its monthly users logging in to social media daily. Between 2020 and 2022, TikTok, Instagram, Snapchat, Pinterest, and Twitter were the networks with the highest growth rates. However, TikTok is now banned in many countries. From 2020 to 2022, Instagram also grew massively, adding 478 million users. Further, according to a report by Sprout Social, 53% of consumers reported higher social media usage from 2020 to 2022. Sprout Social's report highlights that 68% of consumers primarily use social media platforms to stay informed about new products and services. The second biggest reason for consumers to engage with brands on social media is their desire to access exclusive promotions or deals.

With consumers spending more time on social media, marketers are leveraging the opportunities to engage consumers with their brands. With the huge adoption of social media, users with a smartphone create and share their content worldwide. With the adoption of user generated content platforms, companies can tap into the creative potential of their audience, drive engagement, and build stronger relationships with their customers. Instagram's high user count and effective marketing and advertising options have made it a key platform of focus for many marketers. The majority of businesses do all of their social media marketing on Facebook and on one or two other social media platforms.

Social media plays a significant role in the rise of user-generated content (UGC). By using social media to encourage user generated content, businesses can engage with their customers effectively, receive real-time feedback, and increase visibility while building their brand and staying cost-effective. When it comes to user generated content, social media provides huge benefits such as wider reach, user engagement, real-time feedback, and increased visibility. Thus, a surge in the usage of social media platforms drives the user-generated content platform market.

User-Generated Content Platform Market Report Segmentation and Scope:

The user-generated content platform market is segmented based on content type, organization size, and geography. 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. Based on organization size, the user-generated content platform market is segmented into large enterprises and SMEs. The user-generated content platform market, based on geography, is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

User-Generated Content Platform Market Regional Analysis:

North America is one of the fastest-growing regions in terms of both technological innovations and the adoption of advanced technologies. The region also has a well-established IT and cloud infrastructure. In the past three years, North America has witnessed a huge adoption of emerging technologies such as artificial intelligence, machine learning, and blockchain across all the major industry verticals. With the increasing penetration of digitization in various industries, user generated content platform has become a vital component of business ecosystems. Moreover, the number of social media users is increasing year after year in countries in North America, such as the US, Canada, and Mexico. Nearly 74.2% of adults use Facebook, and 60.5% of adults use Instagram in the US. Furthermore, according to Kepios, there were 311.3 million internet users and 246.0 million social media users in the US as of January 2023. The number of social media users in the US in January 2023 was equivalent to 72.5% of the total population. All such factors contribute to the growth of the user-generated content platform market.

User-Generated Content Platform Market Key Player Analysis:

The user-generated content platform market analysis consists of players such as Bazaarvoice; CrowdRiff; Pixlee TurnTo; NOSTO SOLUTIONS OY; TINT; Yotpo; Wyng, Inc.; BrandChamp; and Grin Technologies Inc. are among the key user-generated content platform market players profiled in the report.

User-Generated Content Platform Market Report Scope

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 April 2023, Instagram tested out a new option to help brands discover relevant user-generated content in the app that users can share as examples to promote their products in-stream better. Further, Instagram is prompting Shop managers to add user-generated content to their product listings to encourage potential purchasers.
• In November 2023, Attentive announced integration with Bazaarvoice, a provider of full-funnel authentic user-generated content (UGC) solutions that allow brands to send review requests via SMS and email. The incorporation of UGC from Bazaarvoice, such as ratings, reviews, and customer surveys, into Attentive's SMS and email platform combines two powerful conversion technologies into one unified experience for marketers. This enables brands to encourage more review generation and other types of UGC, driving more connections with customers and enriching the consumer shopping journey.
• In September 2023, Catch+Release announced the launch of an AI-powered search that lets users look for user-generated content in natural language queries. This new search engine lets consumers look for suitable content without requiring them to move from one platform to another.