The digital experience platform market is predicted to grow at an impressive CAGR of 10.2%. It is expected to reach nearly US$ 29.5 Bn by 2032, going up from US$ 9.9 Bn in 2021.
Starting with the content management systems (CMSs) of the 1980s and web experience management (WEM) solutions of the 1990s, the integration of digital customer platforms has evolved over the years for a deeper engagement with the customers.
The advent of digital experience platforms or DXP has fully integrated the different channels to reach the customers through various multimedia devices with the help of digital experience platform service providers.
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What is the Covid-19 Impact on Global Digital Experience Platform Market?
During the Covid-19 pandemic years, there was an inevitable surge in the field of digital platforms and technologies. These steps gave way to new work and life models, providing a huge impetus for the digitization of the maximum business operations.
Most of the market players in every field focused on improving their digital platform experience for their customers during the lockdown period. Huge investment by the online service providers for DXP content management created new opportunities for the development and growth of the digital experience platform market size.
However, as the success of any customer engagement service requires the sufficient availability of products or services, Covid-19 had some negative impacts on the commerce experience management platforms indeed.
“Due to the growing demand of Business enterprises for promoting their products and services seamlessly over multiple digital devices the digital experience platform management has turned out to be an important strategy in today’s market.”
What are the Recent Developments in the Global Digital Experience Platform Market?
• SAP SE developed a cloud based DXP platform for the oil & gas industry in March 2020. This advanced platform based on SAP S or 4HANA cloud has been developed in collaboration with Accenture services and is expected to manage the complexities arising during the upstream operations.
• Adobe Experience Manager was launched on the cloud platforms in January 2020 by the leading software company Adobe Inc. This new version has been designed to offer higher speed like SaaS with more customization abilities. IT is expected to grow the company portfolio making it more popular among the users.
“Due to the growing demand of Business enterprises for promoting their products and services seamlessly over multiple digital devices the digital experience platform management has turned out to be an important strategy in today’s market.”
Prominent Key players of the Digital Experience Platform market survey report:
• Adobe
• IBM
• Oracle
• SAP
• Microsoft
• Salesforce
• Opentext
• Squiz
• Sitecore
• Acquia