The market size for the global digital experience platform (DXP)is anticipated to reach USD 16 billion by 2028. The factors such as assistance in understanding the instantaneous requirements of the customer, increasing deployment of the cloud-based platform, decreasing the consumer churn rate, along with a growing demand for big data analytics, is responsible for the growth of Digital Experience Platform Market
The increasing implementation of DXP for handling customer queries through automatic response processes and providing consumers with real-time feedback on the requests raised is likely to spur the market demand at exponential levels. On the other hand, the need to handle enormous data and evolving technologies, such as Artificial Intelligence (AI), cloud computing, data analytics, and the Internet of Things (IoT), are projected to offer immense market prospects for digital experience platform providers in the coming few years.
Key Segments of the Global Digital Experience PlatformMarket
Component Overview, 2018-2028 (USD Billion)
- Platform
- Services
Deployment Type Overview, 2018-2028 (USD Billion)
- Cloud
- On-premise
End-User Overview, 2018-2028 (USD Billion)
- BFSI
- Healthcare
- IT & Telecom
- Manufacturing
- Media & Entertainment
- Public Sector
- Retail
- Travel & Hospitality
- Others
Regional Overview, 2018-2028 (USD Billion)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Digital Experience Platform Market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global Digital Experience Platform Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the digital experience platform industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on component, deployment type, and end-user. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Digital Experience Platform Market. The report will benefit:
- Every stakeholder is involved in the Digital Experience Platform Market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the global Digital Experience Platform Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global Digital Experience Platform Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
In the past few years, the consumer experience has evolved as an important competitive differentiator for enterprises owing to the inclination towards an omnichannel approach and enhanced digitization, Businesses are implementing digital experience platforms to connect with customers throughout multiple touchpoints using customized and dynamic content based on customer’s product preferences or specific needs.
Moreover, the competency of the digital experience platforms to analyze and collect the consumer buying behavior and integrate customer data obtained from several points of interaction to build a centralized view is also a key factor backing the industry growth. Also, incorporation of evolving technologies, such as big data, Artificial Intelligence (AI), and Machine Learning (ML) have facilitated key solution enablers to upgrade their DXs, thus triggering the demand for digital experience platforms within multiple applications.
Component Segment
The global Digital Experience Platform Market contains both platform and services segment. The services segment has a maximum revenue share within the global Digital Experience Platform Market in 2019. This is predominantly owing to the wide implementation of digital experience platforms across service providers and enterprises, thereby generating demand for professional services and managed services throughout the globe. The platform segment is anticipated to hold a significant market share from 2020 to 2028.
Deployment Type Segment
Based on the deployment segment, the market is bifurcated into two sub-segments that are on-premise, and cloud. In 2019, the on-premise segment gathered the largest market revenue and it is anticipated to dominate the market throughout the forecast period. However, the cloud segment is anticipated to grow at a substantial growth rate over the forecast period. The cloud enables organizations with a unified platform with SaaS-based services providing improved security.
End-User Segment
Based on the end-user, the market is segmented intoBFSI, retail, travel & hospitality, healthcare, manufacturing, IT & telecom, media & entertainment, public sector, and others. The retail segment to hold a considerable market share in 2019due to the factors such as customer-centric approach along with a rising focus on enhancing customer retention and engagement, implementing a consumer specific pricing strategy, and delivering personalized products. The digital experience platforms are leveraging evolving technologies, such as AI, ML, and data analytics to analyze consumers’ search, purchasing and browsing histories, and social media interactions.
The global Digital Experience Platform Market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the digital experience platform end-users, owing to an outsized presence of organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the Digital Experience Platform Market in North America.
The major players of the global Digital Experience Platform Market are Adobe Systems, SAP, IBM, Microsoft, Oracle, Salesforce, SDL, Sitecore, Acquia, OpenText, Jahia, Episerver, BloomReach, Liferay, Squiz, Kentico, and more. The Digital Experience Platform Market is fragmented with the existence of well-known global and domestic players across the globe.