Digital Experience Platform Market 2022
Digital Experience Platform Market to Grow by More than 19% CAGR
The digital experience platform market is projected to grow from US$ 10.1 Bn in 2020 to US$ 21 Bn by 2031, at an expected CAGR of 19.6% during the forecast period 2021-2031. Digital Experience Platform (DXP) is a platform that allow users to control and optimize their customers’ digital experiences across a vast range of digital touchpoints.
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These platform are used by organizations to deploy, build, and to upgrade their portals, websites, and other digital experiences. Customer data are collected and aggregated across a range of digital channels with the help of DXPs. Digital channels like web, mobile, and social media are now the dominant ways, where customers can interact with companies. Rising demand for big data analytics is driving the growth of DXP market globally.
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.
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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.
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
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Key geographies evaluated in this report are:
North America – U.S, Canada
Europe – France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
APAC – China, India, Japan, Australia, Others
Latin America – Argentina, Brazil, Others
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