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Digital Experience Platform Market Size, Share & Trends 2031
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Digital Experience Platform Market Size, Share & Trends 2031

Segments - Digital Experience Platform Market by Applications (Business-to-Business, Business-to-Consumer, and Others), Deployments (Cloud-based and On-premise), Components (Services and Platform), End-users (Healthcare, IT & Telecom, Manufacturing, Retail, BFSI, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Raksha Sharma
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Fact-checked by : V. Chandola
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Editor : Shruti Bhat

Upcoming | Report ID :ICT-SE-3554 | 4.7 Rating | 82 Reviews | 176 Pages | Format : PDF Excel PPT

Report Description


The global digital experience platform market size was valued at USD 11.67 Billion in 2022 and is likely to reach USD 33.69 Billion by 2031, expanding at a CAGR of 12.5% during the forecast period 2023–2031.

The growth of the market is attributed to the growing desire among business organizations to deliver an integrated, optimized, and personalized user experience and engagement across multiple marketing channels.

Digital Experience Platform Market Outlook

Digital experience platform (DXP) is an integration of advanced technology and several service initiatives are deployed that aims to meet the needs of businesses undergoing digital transformation to improve customer experiences. DXPs provide a framework for businesses to deliver connected customer experiences, digitize operations, and collect actionable customer data.

Moreover, it allows businesses to deliver relevant content and recommend loyalty rewards based on the lifetime value of their customers. Organizations upgrade their digital platform by using advanced technologies including big data business processes, Artificial Intelligence (AI), and Machine Learning (ML).

Web 2.0 technologies such as hosted services, video sharing, social networking, collaborative consumption platforms, microblogging, web applications, and podcasting are widely deployed by businesses to enhance their digital experience. 

The COVID-19 pandemic has caused to multiply digital transformation initiatives across industries in order to effectively respond to disruptions and redouble their efforts to adapt DXPs to ensure business continuity and process optimization.

  • Rising adoption of self-service and user-friendly kiosks for banking services is expected to boost market growth.
  • New business models are being developed to expand and retain the customer base. These are key measures that drive the market growth.
  • Lack of integration with back end-systems acts as a key challenge that can hamper the market expansion during the forecast period.
  • Customer can make their own choice or be guided by a voice-activated device that recommends the best products to buy off. This is a vital factor creating lucrative opportunities for the market growth.

Scope of Digital Experience Platform Market Report

The report on the global digital experience platform market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Digital Experience Platform Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Applications (Business-to-Business, Business-to-Consumer, and Others), Deployments (Cloud-based and On-premise), Components (Services and Platform), and End-users (Healthcare, IT & Telecom, Manufacturing, Retail, BFSI, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Microsoft Corporation; Open Text Corporation; Oracle Corporation; SAP SE; Sitecore; Salesforce.com, Inc.; Acquia Inc.; ADOBE INC.; International Business Machines Corp.; and Liferay, Inc.

Digital Experience Platform Market Segment Insights

Applications Segment Analysis

Based on applications, the digital experience platform market is divided into business-to-business, business-to-consumer, and others. The business-to-consumer segment is expected to grow at a rapid pace during the forecast period as a result of the growing demand for content personalization to improve customer engagement.

Customer behavior analytics allows businesses to better understand, identify, and predict early signs of customer churn along with improving customer engagement quality and allowing to take proactive measures to boost customer retention.

Digital Experience Platform Market Applications

Deployments Segment Analysis

On the basis of deployments, the market is bifurcated into cloud-based and on-premise. The cloud-based segment is projected to expand at a considerable CAGR during the forecast period owing to certain benefits such as cost savings, flexibility, and increased security.

On the other hand, the on-premise segment is anticipated to account for a major market share during the forecast period due to the ease of customization offered during implementation by many businesses especially startups and SMEs.

Components Segment Analysis

In terms of components, the digital experience platform market is bifurcated into services and platforms. The platform segment is expected to account for significant share of the market due to the usage of digital experience platforms to provide better customer interaction and engagement.

However, the service segment is projected to register a high CAGR during the forecast period owing to wide assistance by the services to organizations in achieving cost savings, increased ROI, and improved business performance.

End-Users Segment Analysis

Based on end-users, the market is segregated into healthcare, IT & telecom, manufacturing, retail, BFSI, and others. The retail sector is expected to grow at a significant rate during the projected period due to the rapid growth of online business-to-consumer and business-to-business. Moreover, the increased focus on channel marketing and the rising preference for a customer-centric approach present another key aspects for the segment expansion.

Moreover, the BFSI segment is expected to be one of the fastest-growing sector in the market in the coming years. The segment growth is due to increasing proliferation of digital banking and rising consumers’ demand for personalized and secure banking experiences.

Digital Experience Platform Market End Users

Regional Analysis

In terms of regions, the digital experience platform market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to the high pace of digital transformation among enterprises based in the region.

However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to growing consumers’ preference for web and mobile shopping applications.

Digital Experience Platform Market Regions

Segments

The global digital experience platform market has been segmented on the basis of

Applications

  • Business-to-Business
  • Business-to-Consumer
  • Others

Deployments

  • Cloud-based
  • On-premise

Components

  • Services
  • Platform

End-users

  • Healthcare
  • IT & Telecom
  • Manufacturing
  • Retail
  • BFSI
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Microsoft Corporation
  • Open Text Corporation
  • Oracle Corporation
  • SAP SE
  • Sitecore
  • Salesforce.com, Inc.
  • Acquia Inc.
  • ADOBE INC.
  • International Business Machines Corp.
  • Liferay, Inc.

Competitive Landscape

Key players competing in the global digital experience platform market are Microsoft Corporation; Open Text Corporation; Oracle Corporation; SAP SE; Sitecore; Salesforce.com, Inc.; Acquia Inc.; ADOBE INC.; International Business Machines Corp.; and Liferay, Inc. 

To develop technologically advanced products and gain a competitive edge in the market, companies are also focusing on mergers and acquisitions and strategic partnerships. For instance, SAP announced the global launch of SAP Customer Data Platform.

  • In October 2020, a next-generation customer data platform (CDP) that aimed at reinventing the customer experience across every engagement ranging from commerce and marketing to sales and service.

Digital Experience Platform Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Digital Experience Platform Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Digital Experience Platform Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Digital Experience Platform Market - Supply Chain
  4.5. Global Digital Experience Platform Market Forecast
     4.5.1. Digital Experience Platform Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Digital Experience Platform Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Digital Experience Platform Market Absolute $ Opportunity
5. Global Digital Experience Platform Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Digital Experience Platform Market Size and Volume Forecast by Applications
     5.3.1. Business-to-Business
     5.3.2. Business-to-Consumer
     5.3.3. Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Digital Experience Platform Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Digital Experience Platform Market Size and Volume Forecast by End Users
     6.3.1. Healthcare
     6.3.2. IT & Telecom
     6.3.3. Manufacturing
     6.3.4. Retail
     6.3.5. BFSI
     6.3.6. Others
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Digital Experience Platform Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Digital Experience Platform Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Digital Experience Platform Demand Share Forecast, 2019-2026
8. North America Digital Experience Platform Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Digital Experience Platform Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Digital Experience Platform Market Size and Volume Forecast by Applications
     8.4.1. Business-to-Business
     8.4.2. Business-to-Consumer
     8.4.3. Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. North America Digital Experience Platform Market Size and Volume Forecast by End Users
     8.7.1. Healthcare
     8.7.2. IT & Telecom
     8.7.3. Manufacturing
     8.7.4. Retail
     8.7.5. BFSI
     8.7.6. Others
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Digital Experience Platform Demand Share Forecast, 2019-2026
9. Latin America Digital Experience Platform Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Digital Experience Platform Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Digital Experience Platform Market Size and Volume Forecast by Applications
     9.4.1. Business-to-Business
     9.4.2. Business-to-Consumer
     9.4.3. Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Latin America Digital Experience Platform Market Size and Volume Forecast by End Users
     9.7.1. Healthcare
     9.7.2. IT & Telecom
     9.7.3. Manufacturing
     9.7.4. Retail
     9.7.5. BFSI
     9.7.6. Others
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Digital Experience Platform Demand Share Forecast, 2019-2026
10. Europe Digital Experience Platform Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Digital Experience Platform Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Digital Experience Platform Market Size and Volume Forecast by Applications
     10.4.1. Business-to-Business
     10.4.2. Business-to-Consumer
     10.4.3. Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Europe Digital Experience Platform Market Size and Volume Forecast by End Users
     10.7.1. Healthcare
     10.7.2. IT & Telecom
     10.7.3. Manufacturing
     10.7.4. Retail
     10.7.5. BFSI
     10.7.6. Others
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Digital Experience Platform Demand Share Forecast, 2019-2026
11. Asia Pacific Digital Experience Platform Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Digital Experience Platform Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Digital Experience Platform Market Size and Volume Forecast by Applications
     11.4.1. Business-to-Business
     11.4.2. Business-to-Consumer
     11.4.3. Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Asia Pacific Digital Experience Platform Market Size and Volume Forecast by End Users
     11.7.1. Healthcare
     11.7.2. IT & Telecom
     11.7.3. Manufacturing
     11.7.4. Retail
     11.7.5. BFSI
     11.7.6. Others
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Digital Experience Platform Demand Share Forecast, 2019-2026
12. Middle East & Africa Digital Experience Platform Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Digital Experience Platform Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Digital Experience Platform Market Size and Volume Forecast by Applications
     12.4.1. Business-to-Business
     12.4.2. Business-to-Consumer
     12.4.3. Others
  12.5. Basis Point Share (BPS) Analysis by Applications
  12.6. Y-o-Y Growth Projections by Applications
  12.7. Middle East & Africa Digital Experience Platform Market Size and Volume Forecast by End Users
     12.7.1. Healthcare
     12.7.2. IT & Telecom
     12.7.3. Manufacturing
     12.7.4. Retail
     12.7.5. BFSI
     12.7.6. Others
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Digital Experience Platform Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Digital Experience Platform Market: Market Share Analysis
  13.2. Digital Experience Platform Distributors and Customers
  13.3. Digital Experience Platform Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Microsoft Corporation
     13.4.2. Open Text Corporation
     13.4.3. Oracle Corporation
     13.4.4. SAP SE
     13.4.5. Sitecore
     13.4.6. Salesforce.com, Inc.
     13.4.7. Acquia Inc.
     13.4.8. ADOBE INC.

Methodology

Our Clients

Microsoft
General Electric
The John Holland Group
Dassault Aviation
Siemens Healthcare
sinopec
Honda Motor Co. Ltd.
Nestle SA