DUBLIN--(BUSINESS WIRE)--The "Global Digital Experience Platform Market (2019-2025)" report has been added to ResearchAndMarkets.com's offering.
The Global Digital Experience Platform Market size is expected to reach $15.7 billion by 2025, rising at a market growth of 10.5% CAGR during the forecast period.
The growing adoption of DXP for managing customer queries via automatic response processes and providing customers with real-time feedback on the queries raised is projected to push the market at exponential levels. DXPs' ability to analyze real-time data and provide insights into past customer engagement has made it possible for businesses to tailor content delivery. In addition, it is also expected that the deployment of DXPs to analyze customer buying behavior will increase the adoption among companies in multiple end-use segments.
The digital experience platform allows companies to build and provide personalized user experience across the process of customer interaction and engagement across multiple channels, touchpoints, and devices. Nonetheless, in most cases, it usually consists of an integrated collection of technologies like Web Experience Management (WEM), digital content management (CMS), and related services. DXPs' ability to provide businesses with architecture to provide connected customer experiences, digitize business activities, and obtain actionable customer insight is expected to drive their adoption over the projected period.
Due to the confluence of factors like digital transformation and disruption, various companies are now dramatically reengineering their business practices to be highly customer-oriented. Because of their omnichannel orchestrations, superior content customization, and management capability, the companies put more emphasis on digital experience platforms. Such technologies are leveraged to provide an integrated multi-channel experience through applications, portals, websites, and devices. The primary solution providers in the digital experience platform industry are actively emphasizing on acquisitions and new product developments in order to establish a strong presence in the competitive market due to the growing demand for DXPs throughout multiple end-use industries.
Based on Component the market is segmented into Platform and Services. In 2018, Platform had the largest market share and is also projected to be the fastest growing segment during the forecast period. Increasing adoption of the digital experience platform by large multinational companies (MNCs) and start-ups in North America, Europe, and Asia Pacific is expected to drive growth. It is also projected that the need to preserve existing customers will play a key role in persuading companies to deploy digital experience platforms.
- Salesforce.com, Inc.
- Adobe, Inc.
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- Acquia, Inc.
- Liferay, Inc.
- Sitecore, Inc.
- Open Text Corporation
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