The Asia Pacific User Generated Content Platform Market would witness market growth of 26.3% CAGR during the forecast period (2021-2027).
One of the means by which a brand can obtain consumer content is by holding competitions on various social media sites, making innovative hashtags, and encouraging the followers of the brands to contribute to that hashtag. Using a UGC hashtag competition, brands motivate followers for sharing images/videos on social media platforms and utilize a specific hashtag. By sharing social media posts, customers can win various sorts of prizes. By massively sharing and using these particular hashtags, their followers can spread the hashtag so that it can become a trend. It helps to establish and extend the engagement with the target audience, create brand awareness, and eventually drive sales. Additionally, it is essential to utilize hashtags that help the brand in getting a competitive edge over its competitors.
The introduction of digital commerce and a surge in the consumer’s distaste for intrusive marketing strategies have encouraged many brands and advertisers to adopt user-generated content with an aim to communicate, engage, and connect with them. Innovative methods like augmented reality (AR) filters and lenses and live streaming have offered consumers with latest methods to develop content. They have provided marketing firms latest tactics to harness user-generated content for marketing and advertising purposes.
Moreover, the massive growth of digital music has boosted the demand & growth of user-generated content, like virtual concerts on Twitch or Fortnite, and music as a viral meme of Triller and TikTok. These factors are expected to open new growth avenues for the regional user-generated content platforms market over the forthcoming years.
The Enterprises market dominated the Malaysia User Generated Content Platform Market by End-user 2020, thereby, achieving a market value of $163.5 million by 2027. The Individual market is expected to witness a CAGR of 32.9% during (2021 - 2027).
Based on Product Type, the market is segmented into Audio and Video (including live streaming), Social Media, Advertising & Promotions, Websites, Blogs and Others. Based on End User, the market is segmented into Enterprises and Individual. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide User Generated Content Platform Market is Projected to reach USD 13.7 Billion by 2027, at a CAGR of 24.3%
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
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