SAN FRANCISCO, Nov. 13, 2019 /PRNewswire/ -- The global
digital experience platform market size is projected to
reach USD 15.80 billion by
2025, expanding at a CAGR of 10.9% from 2019 to
2025, based on a new study conducted by Grand View Research,
Inc. The growing inclination of companies for developing customer
centric strategies to deliver superior customer interaction is
expected to drive the growth. Furthermore, the adoption of digital
platforms by large Multi-national Companies (MNCs) and Small and
Medium Enterprises (SMEs) as the primary channel for customer
service and engagement is also anticipated to propel the adoption
Digital Experience Platforms (DXPs).
Key suggestions from the report:
- Platform segment dominated the digital experience platform
(DXP) market in 2018 and is also anticipated to emerge as the
fastest-growing segment over the forecast period owing to
increasing adoption of the component by organizations to deliver
superior customer interaction and engagement
- The cloud segment is expected to gain traction over the
forecast period owing to the growing preference for cloud based
DXPs due to the rapid deployment capability and reduced investments
in physical infrastructure
- Business-to-Consumer (B2C) application is anticipated to
witness the fastest CAGR over the forecast period due to the
increasing demand for content personalization to enable superior
customer engagement
- The retail segment is anticipated to witness significant growth
over the next six years owing to the rapid growth of online B2C and
B2B e-tailers and the increased focus on omnichannel marketing
- Asia Pacific is expected to
expand at the fastest CAGR from 2019 to 2025 owing to the growing
consumer preference coupled with high adoption of web and mobile
shopping applications in developing countries such as India and China
- Key players operating in the market include Acquia Inc.; Adobe;
CoreMedia AG; Episerver; IBM Corporation; Liferay Inc.; Oracle
Corporation; Microsoft Corporation; SAP SE; Open Text Corporation;
Salesforce.com, Inc.; and Sitecore among others
Read 120 page research report with ToC on "Digital Experience
Platform Market Size, Share & Trends Analysis Report By
Component (Platform, Services), By Deployment (On Premise, Cloud),
By Application (B2C, B2B), By End Use, And Segment Forecasts, 2019
- 2025" at:
https://www.grandviewresearch.com/industry-analysis/digital-experience-platform-market
The digital experience platform enables companies to design and
deliver personalized user experience across multiple channels,
touchpoints, and devices throughout the customer interaction and
engagement process. DXP can be a single offering, however, in most
of the cases, it usually consists of integrated set of technologies
such as digital Content Management System (CMS), Web Experience
Management (WEM), and related services. The capability of the DXPs
to provide an architecture for companies to deliver connected
customer experiences, digitize business operations, and gather
actionable customer insight is expected to drive its adoption over
the forecast period.
Due to the confluence of factors, such as digital transformation
and disruption, many companies are now radically reengineering
their business practices to be extremely customer oriented. Hence,
the companies focus on digital experience platforms due to their
omnichannel orchestrations and superior content customization and
management capability. They leverage these capabilities to provide
an integrated multi-channel experience spanning across
applications, portals, websites, and devices. Due to the growing
demand for DXPs across multiple end-use industries, the key
solution providers in the digital experience platform market are
aggressively focusing on acquisitions and new product development
to establish a strong presence in the fragmented market.
Grand View Research has segmented the global digital
experience platform market on the basis of component, deployment,
application, end use, and region:
- Digital Experience Platform Component Outlook (Revenue, USD
Million, 2016 - 2025)
-
- Digital Experience Platform Deployment Outlook (Revenue, USD
Million, 2016 - 2025)
-
- Digital Experience Platform Application Outlook (Revenue, USD
Million, 2016 - 2025)
-
- Business-to-Consumer
- Business-to-Business
- Others
- Digital Experience Platform End Use Outlook (Revenue, USD
Million, 2016 - 2025)
-
- BFSI
- Healthcare
- IT & Telecom
- Manufacturing
- Retail
- Others
- Digital Experience Platform Regional Outlook (Revenue, USD
Million, 2016 - 2025)
-
- North America
-
- Europe
-
- Asia Pacific
-
- Latin America
-
- Middle East & Africa
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About Grand View Research
Grand View Research, U.S.-based market research and consulting
company, provides syndicated as well as customized research reports
and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425
analysts and consultants, adding more than 1200 market research
reports to its vast database each year. These reports offer
in-depth analysis on 46 industries across 25 major countries
worldwide. With the help of an interactive market intelligence
platform, Grand View Research helps Fortune 500 companies and
renowned academic institutes understand the global and regional
business environment and gauge the opportunities that lie
ahead.
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SOURCE Grand View Research, Inc.