Digital Experience Platform Market Global Market Report 2024

Digital experience platform refers to an integrated software framework that manages digital experience across various platforms. The purpose of digital experience platform commonly known as DXP is to provide a centralized way to build, manage and optimize the content creation and digital journey. Digital experience platforms include content management, asset management, commerce, customer relationship management, and analytics.

The main components of the digital experience platform (DXP) include platform and services. The services in this segment refer to services that facilitate the use of technology by consumers. It delivers specialized technology-oriented solutions by merging software, hardware, networks, telecommunications, and electronics processes and operations. The DXPs are deployed through the cloud, and on-premises for Business-to-Consumer (B2C), Business-to-Business (B2B), and other applications. Major verticals using the DXPs are retail, BFSI, travel & hospitality, IT & telecom, healthcare, manufacturing, media and entertainment, public sector, and others. The different types of enterprises using these platforms include large enterprises and small and medium enterprises.

The digital experience platform market research report is one of a series of new reports that provides digital experience platform market statistics, including Digital experience platform industry global market size, regional shares, competitors with a digital experience platform market share, detailed digital experience platform market segments, market trends and opportunities, and any further data you may need to thrive in the digital experience platform industry. This digital experience platform market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The digital experience platform market size has grown rapidly in recent years. It will grow from $11.73 billion in 2023 to $13.01 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to rise of digital transformation initiatives, evolution of content management systems (cms), proliferation of digital channels, integration of analytics and insights, adoption of multichannel experiences.

The digital experience platform market size is expected to see rapid growth in the next few years. It will grow to $20.42 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to innovation in content collaboration and workflow optimization, subscription-based and service-oriented models, focus on environmental sustainability, continued adoption of low-code and no-code development, expansion of augmented and virtual reality (ar/vr) experiences, voice and conversational interfaces. Major trends in the forecast period include environmental and accessibility considerations, personalization and customer-centric experiences, multichannel and omnichannel experiences, headless cms and decoupled architectures, integration of ai and machine learning.

The growing deployment of cloud-based services is expected to propel the growth of the digital experience platform market. Cloud adoption is an approach that aims to increase the scalability of internet-based database capabilities while lowering costs and risks. To accomplish this, organizations use cloud computing, or remote computers housed on the internet to store, manage, and process essential data. For instance, according to a survey conducted by the technological research and consulting firm, Gartner in April 2021, public cloud services are predicted to grow by 23.1 % to $332.3 billion in 2021, up from $270 billion in 2020 to fulfill the demand of a sudden shift in cloud-based services. Furthermore, the global health crisis of COVID-19 has emerged as an opportunity for the cloud business, with a significant increase in cloud use across varied industries internationally. Therefore, the increase in deployment and spending on cloud-based services will drive the digital experience platform industry.

The rise in e-commerce is expected to drive the digital experience platform market. E-commerce refers to the buying and selling of goods and services over the internet. Digital experience platform empower e-commerce platforms to enhance product recommendations, streamline online shopping journeys, and optimize the overall customer experience. According to US eCommerce statistics, in 2022, 65% of consumers anticipate using internet purchasing platforms more frequently. By 2024, it is anticipated that e-commerce revenues will total $6.3 trillion. Further, according to Esw, a global eCommerce management company, there are currently 29.6 million eCommerce users in Spain, with an additional 7.3 million users shopping online by 2025. These 36.9 million eCommerce users will represent 74% of the total population. Therefore, the rise in e-commerce is expected to drive the digital experience platform market.

Technological advancement is a key trend gaining popularity in the digital experience platform market. Major companies operating in the digital experience platform market are focused on providing a technologically advanced platform and related solutions to strengthen their market position. These companies are implementing next-generation digital experience platforms and technologies into their services, such as big data analytics, artificial intelligence, machine learning, cloud computing, workflow analytics, multichannel assistance, and others, to allow companies to design and deliver enterprise digital experiences more quickly and consistently. For instance, in November 2022, Optimizely, an American company providing digital experience platform (DXP) launched its advanced digital experience platform on Microsoft Azure Marketplace that provides applications and services for use on Azure. The advanced digital experience platform is powered by artificial intelligence (AI)and offers content management, commerce, and personalization solutions. In addition, the platform provides personalization features to the users.

Major companies are strategically entering into partnerships and collaborations with start-ups and mid-sized companies in the digital experience platform market to broaden the products and services offered by the company. Strategic collaborations and partnership agreements help companies expand their existing product portfolio and geographical reach. For instance, in March 2021, Magnolia, a Switzerland-based digital experience software company, collaborated with Attraqt Group PLC, an England-based software company, for developing customized AI-powered DXPs and integrating them into the Magnolia content platform. This would allow Magnolia clients to improve their scheduled campaigns, personas, and channels.

In March 2021, Crownpeak, a US-based provider of digital experience platform services, acquired e-Spirit AG for an undisclosed amount. With this acquisition, Crownpeak's SaaS-based web content management system (CMS) and other digital quality, governance, and privacy solutions will enable the company to construct the most agile digital experience platform, including content-driven commerce experiences and AI-powered personalization. e-Spirit AG is a Germany headquartered SaaS-based digital experience platform company that provides AI-driven solutions for customers.

Major companies operating in the in the digital experience platform market market report are 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, Episerver, Squiz, Bloomreach Inc., Liferay Inc., Kentico Software, censhare, Progress Sitefinity, SDL Tridion, Crownpeak Technology Inc., Optimizely, Firelay Cloud Services, SWEETYET DEVELOPMENT LIMITED, Siteimprove, CoreMedia AG, e-Spirit AG, Elcom International, Ingeniux Corporation, Agility CMS, Zesty. io Platform Inc.

North America was the largest region in the digital experience platform market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital experience platform market market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the digital experience platform market market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The digital experience platform market includes revenues earned by entities by offering a seamless and optimal experience throughout the full client lifetime and all methods of communication. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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