What is the Historical Analysis of the Digital Experience Platform Market Size?
The digital experience platform market has seen considerable growth due to a variety of factors.
• The market size of the digital experience platform has seen a significant increase in the past few years. The market, which is projected to rise from $12.72 billion in 2024 to $13.94 billion in 2025, will have a 9.7% compound annual growth rate (CAGR).
The historical growth trends can be credited to the surge in digital transformation initiatives, development of content management systems (CMS), an increase in the use of digital channels, incorporation of analysis and insights, and the implementation of multichannel experiences.
What is the Forecasted Growth of the Digital Experience Platform Market Size?
The digital experience platform market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations peg the digital experience platform market for substantial expansion in the years to come with a projected market size of $23.52 billion in 2029 reflecting a robust compound annual growth rate (CAGR) of 14.0%.
The predicted acceleration in the forecast period could be a result of advancements in content collaboration and workflow optimization, adoption of subscription-based and service-centric models, an emphasis on environmental sustainability, consistent use of low-code and no-code development, inclusion of augmented and virtual reality (AR/VR) experiences, voice, and conversational interfacing. Other upcoming trends for the forecast period encompass environmental factors and accessibility considerations, personalization and customer-focused experiences, multichannel and omnichannel interfaces, headless CMS along with decoupled architectures, and the integration of AI and machine learning operations.
What Key Factors and Trends are Driving the Growth of the Digital Experience Platform Market?
The burgeoning utilization of services based on the cloud is presumed to spur the development of the digital experience platform market. The aim of adopting the cloud is to amplify the capacity of internet-based database abilities, concurrently diminishing costs and hazards. For this, firms employ cloud computing, or the usage of online computers to save, control, and handle key data. For instance, CloudZero, an American firm dedicated to cloud cost intelligence, stated that in 2022, 47% of SMEs' tech budgets were devoted to cloud services, marking a surge of 67% from the prior year. Moreover, the predictions for 2023 suggest SMEs' investments in the cloud will exceed 50% of their total tech budgets, indicating a steady transition towards solutions based on the cloud to accommodate changing business essentials and amplify operational productivity. As a result, the escalating implementation and expenditure on services rooted in the cloud will fuel the digital experience platform sector.
What are the Market Segments in the Digital Experience Platform Market?
The digital experience platform market covered in this report is segmented –
1) By Component: Platform, Services
2) By Deployment: Cloud, On-Premises
3) By Application: Business-to-Consumer, Business-to-Business, Other Applications
4) By Vertical: Retail, BFSI, Travel & Hospitality, IT & Telecom, Healthcare, Manufacturing, Media and Entertainment, Public Sector, Other Verticals
5) By Organization size: Large Enterprise, Small & Medium Enterprise
Subsegments:
1) By Platform: Content Management Systems (CMS), Customer Data Platforms (CDP), Digital Asset Management (DAM), Analytics And Insights Tools, Personalization Engines
2) By Services: Consulting Services, Integration Services, Implementation Services, Training And Support Services, Maintenance And Optimization Services
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What Trends are Shaping the Digital Experience Platform Market?
The rise of technology is a predominant trend becoming more prominent in the digital experience platform market. Leading corporations in the market are concentrating their efforts on delivering platforms and solutions that are at the forefront of technology in order to solidify their standing in the market. Such companies are incorporating next-level digital experience platforms and technologies into their offerings. This includes big data analytics, artificial intelligence, machine learning, cloud computing, workflow analytics, multichannel assistance, and more, enabling businesses to create and implement digital experiences at a faster and more uniform rate. As an example, in November 2022, Optimizely, a U.S. company offering a digital experience platform (DXP), introduced its enhanced digital experience platform on the Microsoft Azure Marketplace - a platform that provides applications and services that can be used on Azure. This advanced digital experience platform is AI-driven, and delivers content management, commerce, and personalization solutions. Moreover, the platform serves its users with personalization features.
Who Are the Key Players in the Digital Experience Platform Market?
Major companies operating in the digital experience platform market market include:
• Adobe Inc.
• Oracle Corporation
• SAP SE
• The International Business Machines Corporation
• Microsoft Corporation
• Salesforce Inc.
• Open Text Corporation
• Simple DirectMedia Layer
• Sitecore
• Acquia Inc.
• Jahia Solutions Group SA
• Squiz
• Bloomreach Inc.
• Liferay Inc.
• Kentico Software
• censhare
• Progress Sitefinity
• SDL Tridion
• Crownpeak Technology Inc.
• Optimizely
• Firelay Cloud Services
• Siteimprove
• CoreMedia AG
• e-Spirit AG
• Elcom International
• Ingeniux Corporation
• Agility CMS
• Zesty. io Platform Inc.
What are the Regional Insights into the Digital Experience Platform Market?
North America was the largest region in the digital experience platform market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital experience platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
