Digital Experience Platform Market Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Digital Experience Platform Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The digital experience platform market has experienced significant growth in recent years. It is projected to increase from $11.73 billion in 2023 to $13.01 billion in 2024, reflecting a compound annual growth rate (CAGR) of 10.8%. This growth during the historical period can be attributed to the rise of digital transformation initiatives, the evolution of content management systems (CMS), the proliferation of digital channels, the integration of analytics and insights, and the adoption of multichannel experiences.
What Is The Estimated Market Size Of The Global Digital Experience Platform Market And Its Annual Growth Rate?
The digital experience platform market is anticipated to experience substantial growth in the coming years. It is expected to reach $20.42 billion by 2028, with a compound annual growth rate (CAGR) of 11.9%. This growth during the forecast period can be attributed to innovations in content collaboration and workflow optimization, the rise of subscription-based and service-oriented models, a focus on environmental sustainability, ongoing adoption of low-code and no-code development, and the expansion of augmented and virtual reality (AR/VR) experiences, as well as the use of voice and conversational interfaces.
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Growth Driver Of The Digital Experience Platform Market
The increasing adoption of cloud-based services is anticipated to drive the growth of the digital experience platform market. Cloud adoption seeks to enhance the scalability of internet-based database capabilities while reducing costs and risks. To achieve this, organizations utilize cloud computing, which involves using remote servers hosted on the internet to store, manage, and process critical data.
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Which Market Players Are Driving the Digital Experience Platform Market Growth?
Key players in the market include Adobe Inc., Oracle Corporation, SAP SE, The International Business Machines Corporation, Microsoft Corporation, Salesforce Inc., Open Text Corporation, Simple DirectMedia Layer, Sitecore, Acquia Inc., Jahia Solutions Group SA, Episerver, Squiz, Bloomreach Inc., Liferay Inc., Kentico Software, censhare, Progress Sitefinity, SDL Tridion, Crownpeak Technology Inc., Optimizely, Firelay Cloud Services, SWEETYET DEVELOPMENT LIMITED, Siteimprove, CoreMedia AG, e-Spirit AG, Elcom International, Ingeniux Corporation, Agility CMS, Zesty. io Platform Inc.
What Are the Emerging Trends Shaping the Digital Experience Platform Market
Major companies are strategically forming partnerships and collaborations with startups and mid-sized firms in the digital experience platform market to expand their product and service offerings. These strategic collaborations and partnership agreements enable companies to enhance their existing product portfolios and extend their geographical reach.
How Is The Global Digital Experience Platform Market Segmented?
1) By Component: Platform, Services
2) By Deployment: Cloud, On-Premises
3) By Application: Business-to-Consumer, Business-to-Business, Other Applications
4) By Vertical: Retail, BFSI, Travel & Hospitality, IT & Telecom, Healthcare, Manufacturing, Media and Entertainment, Public Sector, Other Verticals
5) By Organisation size: Large Enterprise, Small & Medium Enterprise
Geographical Insights: North America Leading The Digital Experience Platform Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Digital Experience Platform Market Definition
A digital experience platform (DXP) is an integrated software framework that oversees digital experiences across multiple platforms. The primary goal of a DXP is to offer a centralized solution for building, managing, and optimizing content creation and the digital customer journey. Digital experience platforms typically encompass features such as content management, asset management, commerce, customer relationship management, and analytics.
Digital Experience Platform Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global digital experience platform market report covering trends, opportunities, strategies, and more
The Digital Experience Platform Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on digital experience platform market size, digital experience platform market drivers and trends and digital experience platform market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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