Asia-Pacific Digital Experience Platform Market – Industry Trends and Forecast to 2029

Asia-Pacific Digital Experience Platform Market Analysis and Size

The increased use of cloud-based services and big data analytics by businesses provides valuable insights from data gathered from diverse data producers. This factor is boosting the growth of the market over the forecasted period. The cloud-based segment held the largest market share in 2021 and is projected to grow at the rate of 14.11% during the forecasted period due to the factors such as more significant and enhanced flexibility and advanced technological outcomes.

The global digital experience platform market was valued at USD 11,783.30 million in 2021 and is expected to reach USD 31,547.71 million by 2029, registering a CAGR of 13.30% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Asia-Pacific Digital Experience Platform Market Scope and Segmentation

Market Definition

The digital experience platform helps manage the digital experiences across various platforms where customers can interact with different businesses. It is an integrated technology created to enable the tasks such as composition, management, optimization and delivery of enhanced digital experiences to customers.

Asia-Pacific Digital Experience Platform Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Accelerating urbanization across the globe

Smart cities have largely changed human existence. Living in a smart environment is now feasible because of the transition from conventional computers to provide an enhanced computing features with an increase in linking gadgets and sensors. Urbanization depends on social  ad communication infrastructure in addition to physical infrastructure. Additionally, the adoption of big data analytics and the internet of things (IOT) have also contributed in providing significant amount of data gathered from diverse sources. through highly networked services, IOT enables the integration of sensors, actuators, radio frequency and other features. Thus, the increased emphasis on efficiency brought on by rising urbanization and other adoptions are drving the growth of the market.

Opportunities

• Adoption of various advanced technologies

The increased adoption of various advanced technologies is further estimated to generate lucrative opportunities for the market, which will further expand the market's growth rate in the future. Advanced technologies such as artificial intelligence, machine learning, big data analytics and internet of things (IOT) are being used to build digital experience platforms. These technologies are rising worldwide due to their expanding use across numerous industries. Additionally, cloud deployment provides convenience to companies as it offers on-demand scalability with an easy drag-drop interface, automates the workflow, requires low maintenance, increases operational adaptability, and requires low operational manpower.

Restraints/Challenges

• High implementation costs

The smart technology implementation demnads certain significant financial investments. tehrisig infrastructures are adotiong cutting-edge technologies and IOT neteorks across smart workplaces and industries. tehtse techolgies can b hig;ly expensive in regrds of installation and maintenance factors. Therefore, the high costs are further expected to obstruct market growth over the forecast period.

• Lack of skilled professionals

The technical skills need to be marbled or furnished properly to execute highly enhanced outcomes across organizations and businesses. The lack of skilled professionals leads to a lack of transformational soft skills and less potential for the generated outcomes. These factors are highly obstructing the growth of the market over the forecasted period.

This big data market in smarter cities report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the big data market in smarter cities contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Digital Experience Platform Market

The digital experience platform market was immensely impacted by the outbreak of covid-19 as the governments and local authorities have enacted strict lockdowns and movement restrictions across the globe. The lockout had an impact on the financial flow of the businesses, which had an impact on investments in the digital experience platform. Also, the shortage of workers has impacted the ability of the government and other stakeholders to fulfill the requirements of intelligent city planning and initiatives. The pandemic resulted in the dependency of the vast population on high-speed internet services due to the restriction initiated during the lockdown, which affected the work from the office and other businesses. The rise in high-speed internet services will result in the high demands of the market during the post-COVID era, and hence, the market will expand.

Recent Developments

• In 2020, Wipro Limited acquired rotational interaction, which is a digital customer experience provider company. This will create an ecosystem for the customer's journey, expand production outcomes, and increase global reach.
• In 2019, HCL technologies limited launched a new HCL digital experience (DX) 9.5 for the enhanced management of the digital experience platform.

Asia-Pacific Digital Experience Platform Market Scope

The digital experience platform market is segmented on the basis of component, deployment, organization size, application and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

• Platform
• Services

Deployment

• Cloud-Based
• On-Premise

Organization Size

• Large Enterprises
• Small and Medium Enterprises

Application

• Business To Customer
• Customer To Business

Vertical

• Smart Retail
• Banking, Financial Services and Insurance (BFSI)
• Travel and Hospitality
• IT and Telecom
• Healthcare
• Manufacturing
• Media and Entertainment
• Education

Digital Experience Platform Market Regional Analysis/Insights

The digital experience platform market is analyzed and market size insights and trends are provided by component, deployment, organization size, application and vertical as referenced above.

The countries covered in the digital experience platform market are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)

China dominates the digital experience platform market because of the growing adoption of digital experience platforms across the region and the rising investments in DXPs by major companies such as Alibaba and other businesses within the region.

India is expected to grow during the forecasted period of 2022-2029 due to the rising prevalence of leading market players and the rising population within the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Digital Experience Platform Market Share Analysis

The digital experience platform market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to digital experience platform market.

Some of the major players operating in the digital experience platform market are

• Adobe. (U.S.)
• Oracle (U.S.)
• Sitecore. (U.S.)
• Acquia, Inc. (U.S.)
• Optimizely, Inc. (Sweden)
• SAP SE (Germany)
• HCL Technologies Limited (India)
• Salesforce, Inc. (U.S.)
• Open Text Corporation. (Canada)
• Squiz (U.S.)
• IBM (U.S.)
• Microsoft Corporation (U.S.)
• Bloomreach, Inc. (U.S.)
• Liferay Inc. (U.S.)
• Wipro (India)
• SDL plc (U.K.)
• Accenture (U.S.)
• Infosys Limited (U.S.)
• Kentico Software. (U.S.)
• Siemens (Germany)

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