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Global Digital Experience Platform Market (2021 to 2028) - New Business Models to Increase and Retain the Customer Base are Driving Growth

Research and Markets
·7-min read

Dublin, Oct. 20, 2021 (GLOBE NEWSWIRE) -- The "Digital Experience Platform Market Size, Share & Trends Analysis Report By Component (Platform, Services), By Deployment (On-premise, Cloud), By Application, By End Use, By Region, And Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.

The global digital experience platform market size is estimated to reach USD 22.94 billion by 2028, expanding at a CAGR of 12.3% from 2021 to 2028, according to a new report by the publisher The increasing implementation of advanced technologies such as machine learning, artificial intelligence, cloud computing, and data analytics across organizations is expected to drive market growth over the forecast period. Furthermore, the increasing adoption of digital platforms by large multi-national companies and Small and Medium Enterprises (SMEs) as the key channel for customer service and engagement is also anticipated to boost the adoption of Digital Experience Platforms (DXPs).

The COVID-19 pandemic led to a significant increase in awareness among organizations about the pressing need for digital transformation and helped open new growth opportunities for the market. Digital experience platforms enable organizations to address a range of process optimization concerns. Moreover, these platforms enable businesses to target a larger customer base by designing new business models, products, and services leveraging digitization. Digital experience platforms also help facilitate the transformation of business activities, traditional processes, and business models to benefit from upcoming technological changes and opportunities pertaining to futuristic technologies.

DXPs allow organizations to design and deliver personalized user experiences across multiple channels, touchpoints, and devices throughout the customer interaction and engagement process. DXPs comprise an integrated set of business processes and systems such as Web Experience Management (WEM), digital Content Management Systems (CMS), and related services. Organizations deploy DXPs to provide connected customer experiences, gather actionable customer insights, and digitize business operations.

Organizations maximize their consumer ease on the site and communicate with customers in real-time to provide an optimized consumer experience. They leverage digital transformation capabilities to provide an integrated multi-channel experience covering applications, websites, portals, and devices. Additionally, key market players are significantly focusing on mergers & acquisitions, technological investments, new product development, and integration with emerging technologies such as big data, AI, predictive analytics to upgrade their DXPs and establish a strong presence in the fragmented market.

Digital Experience Platform Market Report Highlights

  • In terms of component, the platform segment is expected to capture the largest share of above 60% by the end of the forecast period. The increasing adoption of digital experience platforms by organizations to deliver superior customer interaction and engagement is driving the growth of the segment

  • In terms of deployment, the cloud segment is expected to expand at a promising CAGR of 12.6% from 2021 to 2028. The segment is expected to gain momentum over the forecast period owing to advantages such as lower cost, convenience, flexibility, and improved security. Moreover, the growing preference for cloud-based DXPs due to rapid deployment capability and reduced investments in physical infrastructure could also drive the segment growth

  • In terms of application, the Business-to-Consumer (B2C) application is anticipated to witness the fastest growth over the forecast period due to the increasing demand for content personalization to enable superior customer engagement

  • In terms of end use, the retail segment is anticipated to register a significant CAGR and reach USD 8.56 billion by 2028. This can be attributed to the rapid growth of online B2C and B2B e-tailers, increased focus on omnichannel marketing, and the rising preference for a customer-centric approach. The growing focus of organizations on improving customer engagement and interaction, offering customized products, and adopting a customer-specific pricing strategy could also drive the segment growth

  • In terms of region, the Asia Pacific regional market is anticipated to expand at a significant CAGR and reach USD 5.73 billion by 2028. This can be attributed to the growing consumer preference and penetration of web and mobile shopping applications in developing countries such as India and China and the increasing penetration of advanced technologies in the regional market

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Digital Experience Platform Industry Outlook
3.1 Market Segmentation and Scope
3.2 Market Size and Growth Prospects
3.3 Digital Experience Platform Market - Value Chain Analysis
3.4 Digital Experience Platform - Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Digital transformation in industries is improving customer engagement and enhancing customer experience
3.4.1.2 New business models to increase and retain the customer base
3.4.2 Market restraint analysis
3.4.2.1 Lack of integration with back end-systems
3.5 Digital Experience Platform Market - Company Ranking, 2020
3.6 Penetration and Growth Prospect Mapping
3.7 Digital Experience Platform Market - Porter's Five Forces Analysis
3.8 Digital Experience Platform Market - PESTEL Analysis
3.9 Digital Experience Platform Market - COVID-19 Impact Analysis

Chapter 4 Digital Experience Platform Component Outlook
4.1 Digital Experience Platform Market Share By Component, 2020 & 2028
4.2 Platform
4.2.1 Digital experience platform, platform market, 2018 - 2028
4.3 Services
4.3.1 Digital experience platform service market, 2018 - 2028

Chapter 5 Digital Experience Platform Deployment Outlook
5.1 Digital Experience Platform Market Share By Deployment, 2020 & 2028
5.2 On-premise
5.2.1 On-premise digital experience platform market, 2018 - 2028
5.3 Cloud
5.3.1 Cloud digital experience platform market, 2018 - 2028

Chapter 6 Digital Experience Platform Application Outlook
6.1 Digital Experience Platform Market Share By Application, 2020 & 2028
6.2 Business-to-Consumer (B2C)
6.2.1 Digital experience platform market in B2C, 2018 - 2028
6.3 Business-to-Business (B2B)
6.3.1 Digital experience platform market in B2B, 2018 - 2028
6.4 Others
6.4.1 Digital experience platform in other applications, 2018 - 2028

Chapter 7 Digital Experience Platform End-use Outlook
7.1 Digital Experience Platform Market By End Use, 2020 & 2028
7.2 BFSI
7.2.1 Digital experience platform market in BFSI, 2018 - 2028
7.3 Healthcare
7.3.1 Digital experience platform market in healthcare, 2018 - 2028
7.4 IT & Telecom
7.4.1 Digital experience platform market in IT & Telecom, 2018 - 2028
7.5 Manufacturing
7.5.1 Digital experience platform market in manufacturing, 2018 - 2028
7.6 Retail
7.6.1 Digital experience platform market in retail, 2018 - 2028
7.7 Others
7.7.1 Digital experience platform market in others, 2018 - 2028

Chapter 8 Digital Experience Platform Regional Outlook

Chapter 9 Competitive Landscape
9.1 Salesforce.com, Inc.
9.1.1 Company overview
9.1.2 Financial performance
9.1.3 Product benchmarking
9.1.4 Recent developments
9.2 Acquia Inc.
9.2.1 Company overview
9.2.2 Financial performance
9.2.3 Product benchmarking
9.2.4 Recent developments
9.3 ADOBE INC.
9.3.1 Company overview
9.3.2 Financial performance
9.3.3 Product benchmarking
9.3.4 Recent developments
9.4 International Business Machines Corp.
9.4.1 Company overview
9.4.2 Financial performance
9.4.3 Product benchmarking
9.4.4 Recent developments
9.5 Liferay, Inc.
9.5.1 Company overview
9.5.2 Financial performance
9.5.3 Product benchmarking
9.5.4 Recent developments
9.6 Microsoft Corporation
9.6.1 Company overview
9.6.2 Financial performance
9.6.3 Product benchmarking
9.6.4 Recent developments
9.7 Open Text Corporation
9.7.1 Company overview
9.7.2 Financial performance
9.7.3 Product benchmarking
9.7.4 Recent developments
9.8 Oracle Corporation
9.8.1 Company overview
9.8.2 Financial performance
9.8.3 Product benchmarking
9.8.4 Recent developments
9.9 SAP SE
9.9.1 Company overview
9.9.2 Financial performance
9.9.3 Product benchmarking
9.9.4 Recent developments
9.10 Sitecore
9.10.1 Company overview
9.10.2 Financial performance
9.10.3 Product benchmarking
9.10.4 Recent developments

For more information about this report visit https://www.researchandmarkets.com/r/kkkyli

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