The digital experience platform market is projected to develop from US$ 10.1 Bn in 2020 to US$ 21 Bn by 2031, at a normal CAGR of 19.6% during the figure time frame 2021-2031. Computerized Experience Stage (DXP) is a stage that permit clients to control and improve their clients’ advanced encounters across a tremendous scope of advanced touchpoints.
These stage are utilized by associations to send, construct, and to redesign their gateways, sites, and other computerized encounters. Client information are gathered and collected across a scope of computerized channels with the assistance of DXPs. Computerized channels like web, portable, and virtual entertainment are currently the predominant ways, where clients can connect with organizations. Rising interest for large information examination is driving the development of DXP market universally.
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What is Driving Demand for Digital Experience Platform Market?
DXP channels can integrate marketing strategies across different platforms in a single software. With the adoption of DXPs companies are reaching to their customers through multiple digital devices, this is helping them to promote upselling and cross-selling.
Users can build and deliver optimized, integrated user experiences across various digital channels with the help of digital experience platform. It also helps in collecting and analyzing the customer buying behavior. Further, the platform creates a centralized view by unifying customer data obtained from multiple touchpoints, this significant factor is driving the growth of digital experience platform market.
The integration of technologies like Artificial Intelligence (AI), big data, and Machine Learning (ML) is creating many opportunities for providers to upgrade their DXPs. This too is helping the digital experience platforms market to grow in upcoming years.
Due to Covid-19 pandemic, organizations are focusing on digital transformation and also they are becoming more digital with an increasing number of interactions. These efforts by the organizations will drive the growth of digital experience platform market globally.
What are the Key Trends for Digital Experience Platform Market?
There is an increase in growing inclination for cloud-based DXPs from companies, as the platform has a reduced investments in physical infrastructure and rapid deployment capability. Various enterprises are preferring cloud services owing to their wide-ranging advantages.
SMEs as well as large enterprises are adopting the cloud-based model to reduce initial IT costs like power consumption and hardware setup. Also, the cloud based model enable hosting of large number of applications in the cloud network to ease application management. Thus, the increasing adoption of cloud based DXPs is driving the growth of market.
With the help of cloud-based DXPs, companies can access the platform from multiple devices such as smartphones, laptops, and desktop computers and can deliver customized content based on customer preferences, buying behavior, , and historical transactions.
Various benefits like quick responsiveness, faster performance, greater agility and improved collaboration are provided to enterprises with cloud deployment. Enterprises are becoming more digital without having to operate a server infrastructure. Trends lie these are likely to fuel market growth of digital experience platform.
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Asia-Pacific Demand Outlook for Digital Experience Platform Market
Asia-Pacific is going to witness the highest growth during the forecast period 2021-31 as there is an increase in adoption of technologies like cloud computing, Artificial Intelligence (AI) and analytics. Growing economy countries India and China are implementing the latest technologies, this too will contribute to the growth of the DXP market in the Asia-Pacific region.
Customers in India and China are rapidly adopting web and mobile shopping applications, this is one of the major factor fueling the growth of digital experience platform (DXP). Such penetration will create many opportunities for DXP technology in coming years.
Who are the Key Digital Experience Platform Vendors?
Some of the leading vendors of digital experience platform include
Adobe Systems
Oracle
SAP
IBM
Microsoft
Salesforce
OpenText
SDL
Sitecore
Acquia
Jahia
Episerver
Squiz
BloomReach
Liferay
Kentico
Censhare
Others
are actively involved in offering digital experience platform solutions for different applications and focusing on new product launches, strategic expansions, acquisitions, product enhancements.
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Key Segments
By Component
Digital Experience Platform
Cloud Based
Op-Premises
Services
Professional Services
Managed Services
By Enterprise Size:
Small and Mid-Sized Enterprises (SMEs)
Large Enterprises
By End-use Industry
Retail
BFSI
Travel & Hospitality
IT & Telecom
Healthcare
Manufacturing
Media & Entertainment
Public Sectors
Others
By Region
North America
US
Canada
Latin America
Brazil
Mexico
Rest of Latin America
Europe
UK
France
Germany
Italy
Spain
BENELUX
Russia
Rest of Europe
East Asia
China
Japan
South Korea
South Asia & Pacific
India
Thailand
Indonesia
Malaysia
Australia & New Zealand
Rest of South Asia & Pacific
Middle East & Africa
GCC Countries
Turkey
South Africa
Rest of Middle East and Africa
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