About Digital Experience Management Software
The increasing need for improving customer experience and to enhanced productivity through self-service and information discovery has boosted the demand for Digital experience management software. It is the technology that helps to manage organizations interact with customers, current and potential. This software allows to integrate data from other platforms such as financials, BI, ERP, analytics and others, moreover, it works with all customer-facing touchpoints such as organizing, automating and synchronizing them to offer service to all existing customers and respond quickly to issues and new business. The radically changing retail industry due to the increasing number of customers interacting with their favourite brands on mobile devices and computers through various social channels has increased the needs of the digital consumer experience software. According to the survey of Adobe Analytics, the United States consumers spent a record USD 142.5 billion online during the 2019 holiday season with the growth of 13.1% year-over-year. Of which, 84% of the eCommerce growth during this period had come from mobile devices. This has increased the interest of retailers to have software that will enable them to stay competitive and drive brand loyalty.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are now exploring the market by new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Digital Experience Management Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Microsoft Corporation (United States), Adobe (United States), Genesys (United States), IBM Corporation (United States), Infosys (India), Zendesk (United States), Salesforce (United States), Oracle Corporation (United States), OpenText (Canada) and SAP (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Evergage (United States), Verint Systems (United States) and SDL Plc (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Digital Experience Management Software market by , Application (BFSI, Retail, Healthcare, IT & Telecom, Manufacturing, Government, Energy & utilities and Others) and Region.
On the basis of geography, the market of Digital Experience Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Organization Size, the sub-segment i.e. Small & Medium will boost the Digital Experience Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service , the sub-segment i.e. Professional will boost the Digital Experience Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Analytics Tools, the sub-segment i.e. EFM software will boost the Digital Experience Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Increasing Trend of BYOD in Emerging Economies Such As Germany, China, and India Is Also Driving the Demand for Digital Experience Management Software
Market Growth Drivers:
Tremendous Growth in Adoption of Smartphones across the Globe, Increasing Cloud and Business Technology and Growing Demand for Digital Experience Management Software from IT And E-Commerce Organizations
Challenges:
Lack of Skilled Workforce
Restraints:
The High Implementation and Maintenance Cost of Digital Experience Management Software
Opportunities:
The Technology Advancement in IT and Communication Is Giving Growth Opportunities for Using Digital Experience Management Software to Enhance Productivity with Ease
Market Leaders and their expansionary development strategies
In August 2022, Cloud 9 Software, the leading provider of cloud-based practice management systems for orthodontists, pediatric dentists, and dental/orthodontic service organizations, has acquired ToothFairy LP, a revolutionary Customer Experience Management (CXM) software designed for the orthodontic industry. ToothFairy helps orthodontists optimize their sales pipeline and maximize returns by leveraging the personal insights of potential patients and best practices from other industries.
For instance, in January 2020 United States-based company Adobe Inc has disclosed new customer experience management innovation through name adobe experience cloud at NRF 2020. According to the company, it will help retailers holistically manage customer experiences across both digital and physical storefronts. Use of adobe analytics will help to bridge online shopping and physical stores. The invention of these will be showcasing how global brands including, whirlpool, Albertsons Co. and Rite-Aid are leveraging Adobe Experience Cloud application that leads to in Customer experience management.
Key Target Audience
Provider of Digital Experience Management Software, Network Providers, Digital Experience Management Software Vendors, Potential Investors and Market Research Firms
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.