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Jan, 04 2024

Revolutionizing Engagement: Unleashing the Power of Digital Experience Platforms for Seamless Customer Journeys and Interactions

The global digital experience platform (DXP) market is marked by integrated technologies swiftly evolving to enrich user interactions across digital channels. DXP solutions empower organizations to craft, oversee, and enhance seamless digital experiences for customers, employees, and partners. Incorporating content management, analytics, and personalization features, these platforms ensure cohesive and engaging experiences across diverse digital touchpoints such as websites and mobile apps. The escalating emphasis on digital transformation propels a surging demand for resilient and comprehensive DXP solutions.

Data Bridge Market Research shows that the Global Digital Experience Platform Market value was USD 10.11 billion in 2021 and is expected to reach USD 25.03 billion by 2029, registering a CAGR of 12.00% during the forecast period of 2022-2029.

"Expansion of cloud deployment drives the market growth"

The digital experience platform (DXP) market is witnessing a rapid surge in cloud adoption, signaling substantial expansion in the cloud segment. Businesses increasingly favor cloud-based DXPs for their scalability and flexibility, facilitating cost reduction and efficient scaling of digital capabilities. The appeal is amplified by the simplicity of integration and reduced costs inherent in cloud services, prompting a notable shift in preference from traditional on-premises deployment. This growing recognition of cloud advantages underscores a transformative trend, with diverse industries acknowledging the pivotal role of cloud solutions in enhancing digital experiences.

What restraints the growth of the global digital experience platform market?

"Legal issues hamper the market growth"

The global digital experience platform (DXP) market faces obstacles due to legal complexities and a shortage of expertise. Managing and preserving extensive client data, accessible through digital experience analytics platforms, becomes intricate, leading to legal challenges. Navigating the nuanced legal landscape regarding data poses hurdles, potentially impeding market growth.

Segmentation: Global Digital Experience Platform Market

The global digital experience platform market is segmented on the basis of component, deployment model, organization size, application, and vertical. 

  • On the basis component, the global digital experience platform market is segmented into platform, and services
  • On the basis of deployment model, the global digital experience platform market is segmented into cloud, and on premises
  • On the basis of organization size, the global digital experience platform market is segmented into small and medium enterprise, and large enterprise
  • On the basis of application, the global digital experience platform market is segmented into business to customer, and business to business
  • On the basis of vertical, the global digital experience platform market is segmented into retail, BFSI, travel and hospitality, IT and telecom, healthcare, manufacturing, media and entertainment, and education

Regional Insights: North America dominates the Global Digital Experience Platform Market

North America dominates the global digital experience platform (DXP) market, fueled by the swift adoption of advanced technologies in progressive countries from 2022 to 2029. The travel and hospitality sector's embrace of digital experience platforms is anticipated to boost this dominance further. As a result, the region stands at the forefront of DXP market expansion, showcasing sustained leadership in technology adoption and sector-specific application across the forecast period.

Asia-Pacific is expected to dominate the global digital experience platform (DXP) market from 2022 to 2029, fueled by rising per capita income and heightened sales of smartphones and tablets. The booming online retail sector propels the region's significant growth, contributing substantially to market expansion. As consumer behaviors evolve and digitalization advances, the Asia-Pacific region stands out as a key player in the widespread adoption and growth of DXPs.

Recent Developments: Global Digital Experience Platform Market

  • In February 2021, Sitecore collaborated with Microsoft Corporation to enhance their digital experience platform in the U.A.E. This strategic partnership enables the efficient, scalable, and reliable delivery of personalized digital experiences, leveraging the strengths of both organizations
  • In October 2020, SAP SE introduced a new customer data platform at the virtual SAP customer experience live conference. This platform empowers businesses to create anonymized 360-degree consumer profiles by integrating data from diverse internal and external sources, including web and social media channels

 To know more about the study, visit https://www.databridgemarketresearch.com/reports/global-digital-experience-platform-market

The Prominent Key Players Operating in the Global Digital Experience Platform Market Include:

  • Adobe (U.S.)
  • Oracle (U.S.)
  • SAP SE (Germany)
  • IBM (U.S.)
  • Microsoft (U.S.)
  • Salesforce Inc., (U.S.)
  • Open Text Corporation. (Canada)
  • SWEETYET DEVELOPMENT LIMITED (U.K.)
  • Sitecore (U.S.)
  • Acquia Inc., (U.S.)
  • Jahia Solutions Group SA (Switzerland)
  • Optimizely, Inc (U.S.)
  • Squiz (Australia)
  • Bloomreach, Inc. (U.S.)
  • Firelay Liferay Services (U.S.)
  • Kentico Software (Czech Republic)
  • censhare GmbH(Germany)

Above are the key players covered in the report, to know about more and exhaustive list of global digital experience platform market companies, contact: https://www.databridgemarketresearch.com/contact

Research Methodology: Global Digital Experience Platform Market

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.


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