According to a research report “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″, is expects to grow from USD 7.9 billion in 2019 to USD 13.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 12.0% during the forecast period. Major factors expected to drive the growth of the DXP market include help in understanding the immediate needs of customer, reducing the customer churn rate, growing deployment of cloud-based solutions, and rising demand for big data analytics.
Browse 52 market data Tables and 32 Figures spread through 130 Pages and in-depth TOC on “Digital Experience Platform Market– Global Forecast to 2024″
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North America to account for the largest market size during the forecast period
North America is expected to hold the largest market size during the forecast period. The US has emerged as the largest market for DXPs due to the large-scale implementation of DXPs by organizations and enterprises in the country. The high pace of digital transformation, along with the high growth of Artificial Intelligence (AI) and data analytics, is attributed to the fast growth of the DXP market in the US.
Key and emerging market players include 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), and censhare (Germany). These players have adopted various strategies to grow in the DXP market.
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Adobe Systems (US) entered the DXP market with its product Adobe Experience Cloud, which provides a plethora of solutions, such as analytics, targeting, advertising optimization, Digital Experience (DX) management, marketing automation and engagement, content management, order management, and predictive intelligence. The company focuses on inorganic growth strategies to strengthen its market position.
IBM (US) offers DX to its customers through products, such as IBM DX Manager, IBM WebSphere Portal, IBM Web Content Manager, and IBM Watson Content Hub. It also offers Digital Commerce, a flexible cloud platform that provides customers with capabilities to shape the digital CX and improve customer engagement. The company has been able to maintain a leading position globally owing to its capabilities as a provider of cognitive solutions and cloud platform through which it has been able to create a wide range of services, software, analytics tools, and related services for its customers in the DXP market. IBM has adopted inorganic growth strategies such as partnerships and acquisitions to enhance its offerings. For instance, the company has recently partnered with BUCKiTDREAM, providing BUCKiTDREAM with the Watson Marketing solution for an improved and personalized brand engagement experience to its customers.
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