DUBLIN--(BUSINESS WIRE)--The "Digital Experience Platform Market by Component (Platform and Services), Deployment Type (Cloud and On-premises), Vertical (Manufacturing, IT & Telecom, BFSI, Healthcare, Travel & Hospitality, and Public Sector), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The DXP Market is Projected to Grow from USD 7.9 Billion in 2019 to USD 13.9 Billion By 2024, at a CAGR of 12.0% from 2019 to 2024.
Increasing necessity to understand the immediate needs of customer and reduce customer churn rate due to growing competition to drive the Digital Experience Platform (DXP) market
The increasing need to understand the immediate requirements of the customer and reducing customer churn rates due to growing competition has led organizations to deploy DXP. However, reluctance to transit from traditional to modern solutions and data security mandates could pose challenges to the market growth.
By component, platform segment to account for a higher market share during forecast period
Based on component, the platform segment is expected to hold a higher market share than the services segment during the forecast period. Organizations deploy DXPs to empower customers with highly connected personalized experiences across a wide range of websites, stores, call centers, mobile apps, social media, emails, virtual assistants, and other touchpoints. Customer queries are also expected to be resolved through automatic response processes, through DXP wherein the customers receive real-time feedback of the posed queries.
By services, managed services segment to hold a larger market size during forecast period
In the DXP market by services, the managed services segment is expected to hold a larger market size than the professional services segment during the forecast period, due to the increasing demand for the management of DXP operations on-premises as well as on the cloud. The prime responsibility of the managed service providers is to improve the efficiency of inbound and outbound operations cost-effectively for enterprises.
Among regions, Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
The market in APAC is projected to grow at the highest CAGR during the forecast period, due to widespread adoption of emerging technologies, such as cloud computing, Artificial Intelligence (AI), and analytics. The presence of growing economies such as China and India which are rapidly implementing latest technologies is also expected to contribute to the growth of the DXP market in the region.
The following key DXP vendors are profiled in the report:
- Adobe Systems (US)
- Oracle (US)
- SAP (Germany)
- IBM (US)
- Microsoft (US)
- Salesforce (US)
- OpenText (Canada)
- SDL (UK)
- Sitecore (US)
- Acquia (US)
- Jahia (Switzerland)
- Episerver (US)
- Squiz (Australia)
- BloomReach (US)
- Liferay (US)
- Kentico (Czech Republic)
For more information about this report visit https://www.researchandmarkets.com/r/51a321