The Digital Experience Platform Market by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Digital Experience Platform Market , The digital experience platform market size has grown rapidly in recent years. It will grow from $11.73 billion in 2023 to $13.01 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to rise of digital transformation initiatives, evolution of content management systems (cms), proliferation of digital channels, integration of analytics and insights, adoption of multichannel experiences.
The digital experience platform market size is expected to see rapid growth in the next few years. It will grow to $20.42 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to innovation in content collaboration and workflow optimization, subscription-based and service-oriented models, focus on environmental sustainability, continued adoption of low-code and no-code development, expansion of augmented and virtual reality (ar/vr) experiences, voice and conversational interfaces.. Major trends in the forecast period include environmental and accessibility considerations, personalization and customer-centric experiences, multichannel and omnichannel experiences, headless cms and decoupled architectures, integration of ai and machine learning.
The growing deployment of cloud-based services is expected to propel the growth of the digital experience platform market. Cloud adoption is an approach that aims to increase the scalability of internet-based database capabilities while lowering costs and risks. To accomplish this, organizations use cloud computing, or remote computers housed on the internet to store, manage, and process essential data. For instance, according to a survey conducted by the technological research and consulting firm, Gartner in April 2021, public cloud services are predicted to grow by 23.1 % to $332.3 billion in 2021, up from $270 billion in 2020 to fulfill the demand of a sudden shift in cloud-based services. Furthermore, the global health crisis of COVID-19 has emerged as an opportunity for the cloud business, with a significant increase in cloud use across varied industries internationally. Therefore, the increase in deployment and spending on cloud-based services will drive the digital experience platform industry.
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The digital experience platform market market covered in this report is segmented –
1) By Component: Platform, Services
2) By Deployment: Cloud, On-Premises
3) By Application: Business-to-Consumer, Business-to-Business, Other Applications
4) By Vertical: Retail, BFSI, Travel & Hospitality, IT & Telecom, Healthcare, Manufacturing, Media and Entertainment, Public Sector, Other Verticals
5) By Organisation size: Large Enterprise, Small & Medium Enterprise
Technological advancement is a key trend gaining popularity in the digital experience platform market. Major companies operating in the digital experience platform market are focused on providing a technologically advanced platform and related solutions to strengthen their market position. These companies are implementing next-generation digital experience platforms and technologies into their services, such as big data analytics, artificial intelligence, machine learning, cloud computing, workflow analytics, multichannel assistance, and others, to allow companies to design and deliver enterprise digital experiences more quickly and consistently. For instance, in November 2022, Optimizely, an American company providing digital experience platform (DXP) launched its advanced digital experience platform on Microsoft Azure Marketplace that provides applications and services for use on Azure. The advanced digital experience platform is powered by artificial intelligence (AI)and offers content management, commerce, and personalization solutions. In addition, the platform provides personalization features to the users.
The digital experience platform market market report table of contents includes:
1. Executive Summary
2. Digital Experience Platform Market Characteristics
3. Digital Experience Platform Market Trends And Strategies
4. Digital Experience Platform Market – Macro Economic Scenario
5. Global Digital Experience Platform Market Size and Growth
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26. South America Digital Experience Platform Market
27. Brazil Digital Experience Platform Market
28. Middle East Digital Experience Platform Market
29. Africa Digital Experience Platform Market
30. Digital Experience Platform Market Competitive Landscape And Company Profiles
Top Major Players:
- Adobe Inc
- Oracle Corporation
- SAP SE
- The International Business Machines Corporation
- Microsoft Corporation
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