Digital Experience Platform Market-Size Volume, Share, Demand growth, Business Opportunity by-2030 (Trending Report)

Latest Study on “Digital Experience Platform Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030”.

The global Digital Experience Platform market size is expected to be worth around US$ 30.41 billion by 2030, according to a new report by nova one advisor.

The global Digital Experience Platform market size was valued at US$ 10.15  billion in 2021 and is anticipated to grow at a CAGR of 13.3% during forecast period 2022 to 2030.

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The COVID-19 pandemic prompted a critical expansion among organizations as they realized the need for digital transformation and supported new growth opportunities for the digital experience platform market. Moreover, organizations are heavily investing in advanced technologies such as Machine Learning (ML), Artificial Intelligence (AI), and data analytics, this is relied upon to drive the DXP market over the forecast period. Digital experience platform is a critical channel for customer engagement and commitment as it eliminates redundancy, improves the transactional experience and operational efficiency.

Digital experience platforms provide an integrated control center that benefits organizations by empowering them with data analytics and content management capabilities. Moreover, these platforms permit businesses to focus on a larger customer base by designing and planning new products and implementing new business models and services. Digital experience platforms assist in the smooth transformation of business activities, conventional processes, and plans of action to benefit from new technological changes and opportunities relating to modern innovations.

Digital experience platforms offer consistency by permitting organizations to plan and deliver the same content across all touchpoints. Digital experience platforms can be easily integrated with the existing set of business processes such as CRM, contact centers, and social media platforms. Organizations deploy DXP to leverage machine learning power and accumulate noteworthy customer insights. Providing the right value at the right touchpoint has become extremely important, for instance, call centers have the information entered by customers in online forms before calling. Digital experience platform can automatically identify consumer trends and based on that it can further create customer segments, with the help of this organizations can obtain powerful insights helping them boost their return on investment.

Report Coverage

Report Scope Details
Market Size USD 30.41 billion  by 2030
Growth Rate CAGR of 13.3% From 2022 to 2030
Base Year 2021
Forecast Period 2022 to 2030
Report coverage Growth Factors, Revenue Status, Competitive Landscape,  and Future Trends
Segments Covered  Component, deployment, application, end use, Region
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned Salesforce.com, Inc.; Acquia Inc.; ADOBE INC.; International Business Machines Corp.; Liferay, Inc.; Microsoft Corporation; Open Text Corporation; Oracle Corporation; SAP SE; Sitecore.

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Digital Experience Platform Market Report Highlights
  • The platform segment is expected to witness considerable CAGR at 12.9% over the forecast period. The rise in the adoption rate of digital experience platforms by organizations to implement improved customer engagement practices is driving the development of this segment
  • In terms of deployment, the cloud segment is expected to expand at a promising CAGR of 16% from 2022 to 2030. The cloud segment offers multiple benefits such as convenience, improved security at lower cost, on-demand scalability, easy deployment, and reduced investments into physical infrastructure
  • The Business-to-Consumer application is expected to observe the fastest development over the forecast period because of the rising interest in content personalization to offer an enhanced customer engagement experience
  • In terms of end use, the retail segment is anticipated to expand at a significant CAGR and reach USD 8.98 billion by 2030. This can be due to multiple reasons such as the high focus on omnichannel marketing, the speedy growth of online B2B and B2C e-tailers, and the rising inclination to a customer-driven approach
  • The Asia Pacific regional market is anticipated to expand at a significant rate and reach USD 7.80 billion by 2030. This can be due to the high penetration rate of mobile and web shopping applications in several developing countries such as China and India

Component Insights

The platform segment accounted for a market share of over 65.1% in 2021. Organizations are focusing on meeting heightened customer expectations and understanding their divergent behavior. For understanding customers organizations require aligned teams, streamlined processes, and better-connected systems. The absence of a technically sound system within the organization can hinder the company’s performance. To avoid such scenarios organizations rely upon digital experience platforms which help them from building brand awareness to offering product support. DXP additionally allows the acquisition of new customers and retention of existing customers, these are a few factors driving the growth of the platform segment.

The service segment is anticipated to rise significantly over the forecast period attributable to the developing interest for services such as training & consulting across various industries. Digital experience platform services support organizations in many ways such as accomplishing increased Return on Investment (ROI), reduced expenses, and enhanced performance of business activities. To be able to smoothly implement the software organizations often seek out guidance, even after implementation organizations need support services for maintenance of the software. Digital experience platform services are extremely valuable for organizations that do not have any dedicated analytics platform to implement and manage customer experience. These factors are responsible for the growth of the service segment.

Deployment Insights

The on-premise segment accounted for a market share of over 50% and is expected to register considerable growth over the forecast period. Numerous organizations choose on-premise deployment due to its ability to customize as per user requirements during the implementation. On-premise deployment offers high-end security to classified information which means organizations can have better control over sensitive data and it supports easy compliance with multiple government regulations. Additionally, with on-premise deployment organizations can install a personalized network of digital transformation that suits the organization’s necessities precisely and effectively.

The cloud segment is anticipated to expand with the fastest CAGR of 16.2% from 2022 to 2030. There are multiple factors responsible for the growth of this segment such as easy deployment, low financial investments in physical infrastructure, and great progression in data sharing technologies. Cloud deployment provides convenience to companies as it offers on-demand scalability with an easy drag-drop interface, automates the workflow, requires low maintenance, increases operational adaptability, and requires low operational manpower.

Application Insights

The Business-to-Consumer (B2C) application segment captured the largest market share of over 60% in 2021 and is also expected to register the fastest CAGR of 14.2% during the forecast period. The digital experience platform provides a unified view to customers relating to their activities, latest offers, and other important detail, also it allows customers to interact and give their valuable feedback through the interactive platform. Users can easily track the delivery process, make payments, get regular updates, and even pre-book products with the help of a digital experience platform. These are some of the key factors that are accelerating the adoption among users.

The increased adoption of B2B digital experience platforms by organizations and various institutes is due to multiple factors such as omnichannel content management, analytical capabilities to increase customer retention rate, seamless integration, and consistent customer journey. Moreover, B2B digital experience platform gives organizations a unified platform for implementing customer interaction and engagement strategies. They assist organizations in meeting customer expectations and offer them personalized product and service suggestions. B2B DXP platforms help organizations to effectively redesign business content on various touchpoints such as tablets, cell phones, and workstations.

End-use Insights

The retail segment captured over 25.4% of the overall revenue share in 2021 and is expected to continue dominating the market by 2030, this can be due to the growing number of customers who expect to experience digital journeys across multiple channels. Considering the retail industry which is focusing on a customer-driven marketing approach is investing resources to improve customer engagement and interaction process. Additionally, personalized products delivery, increase transparency, less product delivery time, optimal utilization of resources and customer-specific pricing strategy are further boosting the market growth.

The BFSI segment is also anticipated to grow rapidly over the forecast period. This is due to the rise in consumer inclination towards digital banking, as it works in the interest of customized and secure financial experiences. The conventional banking business model is threatened due to high operational cost and low-performance efficiency, but by automating banking experience there are low chances of human error and better ROI. It is also observed that banks and other financial institutions significantly depend on digital experience platforms to offer creative and interactive content to promote their standard products.

Regional Insights

North America dominated the market for digital experience platforms by accounting for over 35% revenue share in 2021. The growth of the retail industry in the region demands better experience platforms, the digital experience platform help in segregating customers based on their purchasing pattern thus it is widely used by retailers in the region. Additionally, today’s educated consumer likes to acquire information about the product before making the actual purchase, this makes organizations invest resources to facilitate that discovery via digital means. To serve informed customers better, employees need to be equipped with proper tools which is another factor supporting the growth of DXP in North America.

The Asia Pacific is expected to grow as the fastest developing regional market over the forecast period. Factors such as the growth of the IT industry, rise in per capita incomes, and the high-volume sales of smartphones and tablets are a few of the crucial factors contemplated to drive the deployment of digital experience platforms by organizations in the Asia Pacific region. Many startups and SMEs are embracing digital experience platforms to assist in the smooth functioning of business processes. Besides, the presence of several Information Technology Enabled Services (ITeS) and software companies in countries such as India, Japan, China, Singapore, and South Korea are anticipated to accelerate the deployment of DXP.

Some of the prominent players in the Digital Experience Platform market include:

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

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

  • By Component
    • Platform
    • Services
  • By Deployment
    • On-premise
    • Cloud
  • By Application
    • Business-to-Consumer
    • Business-to-Business
    • Others
  • By End-use
    • BFSI
    • Healthcare
    • IT & Telecom
    • Manufacturing
    • Retail
    • Others

Regional Segmentation

  • Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia],
  • Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland],
  • North America [United States, Canada, Mexico],
  • South America [Brazil, Argentina, Columbia, Chile, Peru].
  • Middle East & Africa [GCC, North Africa, South Africa],

Research Methodology

A unique research methodology has been utilized to conduct a comprehensive research on the growth of the global Digital Experience Platform market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions. Secondary sources referred to by analysts during the production of the global market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.

These primary and secondary sources provided exclusive information during interviews, which serves as a validation from mattress topper industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global Digital Experience Platform market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped to estimates the future prospects of the global market more reliable and accurate.

Key Questions are

  • What are the key factors influencing the Digital Experience Platform market in each region?
  • How much value will the global market generate by the end of the forecast period?
  • What will be the CAGR of the global market between 2022 and 2030?
  • What would be the Y-o-Y growth trend of the global market between 2022 and 2030?
  • What is the future scope and current trends in technologies of the global market?
  • What is the revenue of the global market based on segments?
  • Which key strategies are used by top players of the global market?
  • Which are the leading companies in the global market?
  • What are the essential strategies by key stakeholders in the market to expand their geographic presence?
  • What are the major advancements witnessed in the global market?

Why should you invest in this report?

If you are aiming to enter the global Digital Experience Platform market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Digital Experience Platform are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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