Industry Background:
The digital experience platform (DXP) is a software program that enables one to build and deliver integrated, optimized user experiences across all the digital channels, to all customers. This platform helps in managing digital customer experience in understanding customer behavior towards the brand online. In today’s time organizations are focusing on creating emotional connections with the users to get feedback and respond to their issues. The digital experience platform includes open DXP and Closed DXP, the experience platforms offer services like content management, analytics, orchestration, customer relationship management, etc. These services are offered to various digital channels like web, mobile, social media and other connected devices.This growth is primarily driven by The demand for digitization in a business organization to deliver connected customer experiences and collect customer insights that matter to the organization. The organization needs to improve the accuracy of marketing and customer engagement through comprehensive customer data and cost-effective implementation. These requirements are driving the DXP market.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Internet Software & Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Adobe Inc. (United States), SAP SE (Germany), Oracle Corporation (United States), Infosys Limited (India), Acquia, Inc (United States), Liferay Inc (United States), SDL plc (United Kingdom), Progress Software Corporation (United States), Quadient (France) and Sitecore (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 23rd October 2019, Adobe announced the expansion of Digital Experience Product Portfolio for mid-market and SMB businesses as well as the creation of a new organization within the Digital Experience business to support the unique needs of those companies. Its product portfolio for mid-market and SMB businesses includes Magento Commerce, Marketo Engage, Adobe Analytics Foundation, etc.
On 5th November 2019, Acquia announced its collaboration with Bounteousto delivers personalization at scale in the digital experience platform. This will create a connected and individualized experience with customers to increase loyalty and conversion. The solution leverages artificial intelligence to help marketers create a sense of intimacy with their customer base, building loyalty, confidence, and joy in buying. In combination with the Acquia Open Digital Experience platform, and Google’s best-in-class Artificial Intelligence Platform, Bounteous creates a powerful insight-driven marketing platform that enables marketers to deliver a personalized experience for every visitor to their digital property.
Influencing Trend:
The Emerging use of Voice Commerce to sell the Products and Services in Digital Experience Platform and The Surging IoT-era, with its Smart Speakers and Intelligent Refrigerators, is bringing the World to Real-Time Experiences Platform
Market Growth Drivers:
The demand for digitization in a business organization to deliver connected customer experiences and collect customer insights that matter to the organization. The organization needs to improve the accuracy of marketing and customer engagement through comprehensive customer data and cost-effective implementation. These requirements are driving the DXP market
Challenges:
Less Awareness about the usage of Digital Experience Platform Properly
Restraints:
Rising Number of Cyber Crimes in the World is Restraining the Growth of Digital Experience Platform and Regulatory Compliance with Digital Experience Platform
Opportunities:
The Use of Digital Experience Platform to Digitally Transform Staff Training Procedures will Boost the Market and Shifting Staff training to Online Portals and Collaborations Tools
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Digital Experience Platform Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Digital Experience Platform Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Digital Experience Platform players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Digital Experience Platform Study Sheds Light on
The Digital Experience Platform Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Digital Experience Platform industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Digital Experience Platform industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.