Rising efforts by the businesses to deliver integrated, personalized, and optimized experience and user engagement across several marketing channels drive the demand for digital experience platform market
Business enterprises have understood the prominence of customer experience management as it enables them to improve consumer loyalty, strengthen their brand presence, decrease consumer churn, and consecutively improve business revenue. Hence, the global digital experience of the platform market size is projected to reach USD 16 billion by 2028.
Presently, consumers use several devices to review, understand, and finalize products before buying. This disruption within digital technology stimulates customers to demand unified experience while interacting with businesses over multiple touchpoints or channels.
Incorporation of evolving technologies, such as big data, Artificial Intelligence (AI), and Machine Learning (ML) have facilitated key solution enablers to upgrade their digital experience platforms, thus triggering the demand for digital experience platforms within multiple applications. Moreover, growing capital investments towards the adoption of advanced marketing technologies to enable consumers to carry out cognitive decisions to develop an improved digital experience platform, is anticipated to contribute to industry growth.
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 has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The global digital experience platform market is a wide range to North America, Asia Pacific, Europe, South America, and the Middle East & Africa. North America is considered a mature market in the digital experience platform applications, owing to an outsized presence of an 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 domestic as well as renowned global players across the geographic regions.
Segment Overview of Global Digital Experience Platform Market
Component Overview, 2018-2028 (USD Billion)
Deployment Type Overview, 2018-2028 (USD Billion)
End-User Overview, 2018-2028 (USD Billion)
- IT & Telecom
- Media & Entertainment
- Public Sector
- Travel & Hospitality
Regional Overview, 2018-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America