Digital Experience Platform Market 2023 Size, Outlook, Prominent Players, Share, Revenue, and Forecast 2031 |Adobe Systems, SAP, IBM, Microsoft, Oracle, Salesforce, SDL, Sitecore, Acquia, OpenText, Jahia, Episerver

A cloud-based software system called the Digital Experience Platform (DXP) offers users a unified experience for accessing and using company data, apps, and services from any location at any time. To deliver tailored and contextualised experiences across numerous channels and touchpoints, a DXP often incorporates a number of critical technologies, including content management, digital asset management, customer relationship management, e-commerce, analytics, and customization. Businesses can build, manage, and deliver compelling digital experiences across websites, mobile applications, social media, chatbots, voice assistants, and other digital touchpoints with the help of DXPs. They aid companies with accelerating speed to market, increasing client engagement, and streamlining and automating their digital operations.

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The market for digital experience platforms is anticipated to expand rapidly over the course of the forecast period, reaching an estimated value of USD 30.41 billion by 2030 at a projected CAGR of 13.3% from 2022 to 2030. The demand for Digital
Experience Platforms is being driven by enterprises' growing embrace of digital technologies to improve customer engagement, cut costs associated with operations, and increase business agility. Due to the growing demand for individualised and seamless consumer experiences across various channels, the Platform category is anticipated to lead the market, with a projected share of 62.5% by 2030. Because tofts scalability, flexibility, and cost-effectiveness, cloud-based deployment is anticipated to develop at a higher CAGR than the other deployment segment types.

As enterprises increasingly look for specialist consultancy, implementation, and support services to build and operate Digital Experience Platforms, the Services category is anticipated to expand at a faster CAGR during the forecast period. Due to the increased adoption of Digital Experience Platforms by enterprises to improve employee engagement, productivity, and collaboration, the B2B category is predicted to develop at a higher CAGR in terms of applications. Due to the rising desire for individualised product suggestions and omnichannel consumer experiences, the retail segment is anticipated to witness faster growth among end users.

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Due to the expanding acceptance of digital technologies by businesses, the rising use of smartphones and the internet, and the rising desire for improved customer experiences, the Asia Pacific region is anticipated to develop at a faster CAGR during the projected period. Due to the existence of significant businesses and the high consumer acceptance of digital technologies, North America is anticipated to dominate the market with a projected share of 34.6% by 2030.

Adobe introduced its Digital Experience Platform in February 2022, integrating its Experience Cloud, Advertising Cloud, and Analytics Cloud to provide individualised and seamless customer experiences across a variety of media. To improve its customer data management capabilities, Sitecore, a supplier of digital experience platforms, purchased Boxever, an AI-powered customer data platform, in September 2022.

The SAP Customer Experience Platform, which unites SAP's CRM, marketing, and e-commerce products, will be live in June 2022 with the goal of enhancing company agility and delivering tailored customer experiences. Acquia, a developer of digital experience platforms, bought Widen, a platform for managing digital assets, in January 2023 so that its clients could manage their digital assets more effectively and offer compelling content experiences.

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