Registering with 16.1% CAGR | The Digital Experience Platform (DXP) Market Size Reach USD 41.7 Billion Globally by 2032

Factor propelling the market for digital experience platforms is the growing emphasis on improving consumer experiences.

PORTLAND, OR, UNITED STATES, September 4, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " Registering with 16.1% CAGR | The Digital Experience Platform (DXP) Market Size Reach USD 41.7 Billion Globally by 2032." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global digital experience platform (DXP) market was valued at $11.2 billion in 2023, and is projected to reach $41.7 billion by 2032, growing at a CAGR of 16.1% from 2024 to 2032.

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Focus on customer experience and proliferation of digital touchpoints are the factors expected to propel the growth of the global digital experience platform market. However, implementation complexity is anticipated to hamper the growth of global market. On the contrary, increase in demand for personalization capabilities and rise in omnichannel integration are further likely to create lucrative opportunities for the growth of the global market.

The digital experience platform (DXP) market is segmented into component, deployment mode, application, industry vertical and region. On the basis of component, the market is divided into platform and services. As per deployment mode, the market is bifurcated into on-premise and cloud. Depending on application, the market is segregated into B2C, B2B and B2E. On the basis of industry vertical, the market is divided into retail, ?BFSI, travel and hospitality, IT and telecom, healthcare, manufacturing and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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By component, the platform segment held the highest market share in 2023, accounting for the digital experience platform market revenue and is estimated to maintain its leadership status during the forecast period, owing to its comprehensive and integrated solutions that offer a wide range of functionalities to businesses. These platforms provide a one-stop solution for organizations to manage their digital experiences, including content management, customer relationship management, e-commerce capabilities, and more, which is further expected to propel the overall market growth.

By deployment mode, the on-premise segment accounted for the largest share in 2023, contributing for more than three-fifths of the digital experience platform market revenue, to its long-standing presence and familiarity among businesses. Many organizations have traditionally preferred on-premise solutions for data security reasons as they have more control over their data and infrastructure, which is further expected to propel the overall market growth.

By application, the B2C platform segment accounted for the largest share in 2023, owing to effectively utilizing digital experience platforms to enhance customer engagement, streamline transactions, and deliver seamless online experiences, leading to dominant market position, which is further expected to propel the overall market growth.

By industry vertical, the retail segment accounted for the largest share in 2023, owing to its widespread adoption of digital technologies to enhance customer experiences. In the retail industry, businesses have prioritized investing in DXP solutions to create personalized and seamless online shopping experiences for customers. By leveraging data analytics and customer insights, retailers can tailor their digital platforms to meet individual preferences, leading to increased customer engagement and loyalty, which is further expected to propel the overall market growth.

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By region, the North America segment held the highest market share in terms of revenue in 2022, owing to high level of digital adoption, advanced technological infrastructure, and a strong focus on digital transformation initiatives. Companies in this region have been early adopters of DXP solutions to enhance customer experiences, drive digital innovation, and improve operational efficiency. Additionally, North America is home to many established technology companies and digital agencies that offer a wide range of DXP solutions, anticipated to propel the growth of the market in this region.

The major players operating in the digital experience platform industry include Adobe, Oracle, SAP SE, IBM, Microsoft, and Salesforce Inc. Other players in digital experience platform (DXP) market include Acquia, Bloomreach, CoreMedia and HCL and so on.

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Key Takeaways

● The digital experience platform (DXP) market study covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period and digital experience platform market forecast.

● More than 1,500 product literatures, industry releases, annual reports, and other such documents of major digital experience platform (DXP) industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value DXP industry insights and digital experience platform market size.

● The study integrated high-quality data, professional opinions and digital experience platform market analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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