Digital Experience Platform Market Size & Share Component (Platform, Services); Deployment Model (Cloud, On-Premise); Organization (SMEs, Large Enterprise); Application (Business to Customer, Business to Business); End-user (Retail, BFSI, Travel, Hospitality, IT & Telecom, Healthcare, Manufacturing, Media & Entertainment, Education) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4968
  • Published Date: Jun 01, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Digital Experience Platform Market size is slated to reach USD 17 Billion by 2035, growing at a CAGR of 9%. The industry size of digital experience platform was USD 8 billion in 2022. The popularity of digital technologies such as the Internet of Things (IoT), artificial intelligence (AI), machine learning, and cloud computing is increasing in a variety of industries. These digital technologies provide businesses with the ability to collect and analyze data quickly, enabling them to make better decisions and drive more efficient operations. As a result, businesses are increasingly relying on digital experience platforms to deliver a better customer experience.

DXPs are powerful tools for businesses to create a seamless customer journey and provide personalized experiences. As such, startups in this space are investing heavily in research and development to create more efficient and powerful DXPs. An investment of USD 40 Million by Expedition Growth Capital (EGC) was made by Kontent.ai to develop AI solutions for its Content Management System (CMS).


Digital Experience Platform Market
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Global Digital Experience Platform Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising Demand for Streamline Services and Podcasts - Over 418 million people listen to podcasts worldwide, with 122 million in the U.S. By 2023, there are expected to be over 155 million podcast listeners worldwide. Consumers are looking for a more streamlined experience when it comes to entertainment and media consumption. This is leading to increased demand for DXPs that allow users to access podcasts, streaming services, and other content quickly and easily.
  • Growing Registrations of Web Hosting Services - The number of top-level domains registered was over 369 million in the third quarter of 2020, while there were over 320,000 providers of web hosting services. As businesses of all sizes turn to the web for their digital presence, the demand for web hosting services is increasing. This increased demand will drive the need for DXPs.
  • Emergence of The Wide Web 2.0 Technologies - Web 2.0 technologies allow users to interact and collaborate in a dynamic, interactive online environment. This enables users to create and share content, including blogs, wikis, and social networking sites, which in turn helps to create a more personalized digital experience.

Challenges

  • Judgments are based on guesswork instead of data - Businesses cannot often collect, interpret, and act on customer data. Without the insight this data provides, decisions about the platform are based on assumptions rather than facts. This can lead to costly mistakes and delays in launching the platform.
  • High implementation costs, and security concerns
  • Complex process of integration

Digital Experience Platform Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~ 9%

Base Year Market Size (2022)

~ USD 8 Billion

Forecast Year Market Size (2035)

~ USD 17 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Digital Experience Platform Segmentation

Deployment Model (Cloud, On-Premise)

About 54% of the digital experience platform market share will be captured by the cloud segment by 2035. The growth can be attributed to the increasing need for scalability and agility in data storage and analytics. As organizations continue to expand, they need to store and analyze massive amounts of data, and cloud-based solutions provide the best solution. Additionally, cloud solutions are cost-effective and efficient, which is another factor driving their adoption.

Application (Business to Customer, Business to Business)

A significant share of approximately 56% is expected from business-to-consumer in 2035. Retail, banking, and healthcare industries, among others, are increasingly demanding digital customer engagement solutions to improve their customer experience. This is due to the need for organizations to provide customers with a seamless and personalized digital experience across all channels. Furthermore, organizations are leveraging customer data to create personalized content and offers.

Our in-depth analysis of the market includes the following segments:

         Component

  • Platform
  • Services

         Deployment Mode

  • Cloud
  • On-Premise

          Application

  • Business to Customer
  • Business to Business

          End Use

  • Retail
  • BFSI
  • Travel and Hospitality
  • IT and Telecom
  • Healthcare
  • Manufacturing
  • Media and Entertainment
  • Education

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Global Digital Experience Platform Industry - Regional Synopsis

North America Market Forecast

In North America, the digital experience platform market will hold a share of about 37% by 2035. Several startups and SMEs are leveraging digital experience platforms to improve customer experiences in the region. For instance, in March 2022, a partnership between IBM Corporation and Adobe, Inc. was expanded for the development of AI-driven weather data and Adobe experience platforms. This can be attributed to the presence of a well-established IT infrastructure, the increasing acceptance of digital transformation initiatives, and the growing focus of companies on improving customer experience.

Asia Pacific Market Analysis

Digital experience platforms will be a significant part of the Asia Pacific market by 2035 with a share of 27 percent. Data-driven decision-making is becoming increasingly important in the region as digitization increases. From USD 190 billion to over USD 220 billion in FY22, the digital economy in India has grown by more than 15%. According to current growth rates, the digital industry will reach USD 390 billion in 2027. DXPs allow businesses in the region to quickly and cost-effectively create and manage digital experiences for customers.

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Digital Experience Platform Market Size
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Top Featured Companies Dominating the Global Digital Experience Platform Market

top-features-companies
    • Acquia Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • International Business Machines Corporation
    • Liferay, Inc.
    • Open Text Corporation
    • Sitecore
    • Adobe Inc.
    • Oracle Corporation
    • SAP SE
    • IBM Corporation
    • Microsoft Corporation

In-the-news

In The News

  • Oracle Fusion Cloud Human Capital Management (HCM) is the comprehensive human capital management system chosen by the Bank of Thailand (BOT) to promote an employee-centered digital workforce. Using Oracle Cloud HCM, the BOT can automate processes and improve workflow.
  • In addition to expanding its partner ecosystem, Adobe announced that it will accelerate content velocity and create seamless customer journeys, improving the customer experience for millions of people as a result. This will enable them to provide a better user experience, resulting in increased customer loyalty and satisfaction.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 4968
  • Published Date: Jun 01, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for customer experience optimization and the rising need to provide a personalized user experience.

The market size of digital experience platforms is anticipated to attain a CAGR of ~9% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Acquia Inc., International Business Machines Corporation, Liferay, Inc., Open Text Corporation, Sitecore, Adobe Inc., Oracle Corporation, SAP SE, IBM Corporation, and Microsoft Corporation.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by component, deployment model, application, end-use, and by region.

The cloud segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

High cost of implementation, security concerns, and the complexity of integration with existing systems

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Digital Experience Platform Market Report Scope
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