Global Digital Experience Platform Market Report and Forecast 2024-2032

Global Digital Experience Platform Market Size

The global digital experience platform market is expected to expand from USD 10.51 billion in 2023 to USD 28.12 billion by 2032, growing at a CAGR of 11.5% over the forecast period of 2024-2032.

Digital Experience Platform Market Outlook

• Acquia's composable digital experience platform empowers organizations to create bespoke digital experiences using preferred technologies and places open integrations at the core of an accessible, secure digital future.

• In 2024, Webflow finalized its acquisition of Intellimize, a customer experience optimization platform. 

• In 2023, Crownpeak and Netlify collaborated on web platform features and digital experience platform solutions. This cloud computing and hosting leader is partnering with a digital experience platform to future-proof brands for the changing digital landscape, which would positively impact the digital experience platform market value.

• In 2024, Uniform, a digital solutions company, announced another set of potent improvements to its advanced digital experience platform-releases, pre-assembled components or patterns, connecting content and data from multiple sources, and advanced experience localization capabilities.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Digital Experience Platform Market Growth

Digital experience platform is an evolving category of enterprise software that seeks to satisfy the requirements of digitally altered businesses with the ultimate objective of delivering a better experience to the clients. Digital experience platforms can be a single product, but they often work together as a suite of products.

As per the digital experience platform industry analysis, such a platform enables companies to use, generate, and handle content on various digital channels. To store, handle, and critically process information, the platform hosts digital content on the internet.

A few factors driving the implementation of digital experience platforms are the increasing amount of website and mobile app information, rising concentration on providing customer-centred apps to offer customer satisfaction, and a growing need to regulate and decrease capital spending and operational spending.

Key Trends and Recent Developments

AI integration, low code and no code development and omnichannel integration are the major trends impacting the digital experience platform demand growth.

August 2024

Global information management leader Iron Mountain announced the availability of Iron Mountain InSight Digital Experience Platform (DXP), a secure software-as-a-service (SaaS) platform. It helps customers automate workflows, make data more easily accessible, enable audit-ready compliance, and get their data AI-ready.

July 2024

Acquia introduces Multi-Experience Operations, an out-of-the-box improvement to Acquia Cloud Platform that combines the time, cost, and maintenance advantages of Drupal CMS multi-site architecture with performance, scalability, and resiliency features from Acquia Cloud Next.

June 2024

Netlify, the platform for modern web development, announced a new Adobe Experience Manager integration that helps bridge the gap from legacy web architecture to composable architecture. AEM users will be able to use Netlify headless CMS to drive business outcomes faster and streamline workflow while decreasing the number of touchpoints required across multichannel projects.

May 2024

KNVEY, Inc. announced the launch of KNVEY, a cutting-edge new digital experience platform that will help customers, employees and partners alike smooth out business interactions. With its comprehensive set of efficiency and engagement-enhancing features, KNVEY is set to take the digital world by storm.

AI Integration

The need for personalized experiences through digital platforms fuels the integration of artificial intelligence technologies and boost the digital experience platform demand. Organizations make use of AI technologies in studying user behaviour and preferences to allow real-time personalization for better customer engagement and satisfaction, hence higher conversion rates and loyalty.

Low code and no code development

Low-code and no-code solutions are changing the way digital experience platforms are developed and run within an organization. This puts the capability into the hands of non-technical users to design or modify digital experiences in a fast and agile manner, independent of IT resources, reducing the time to market, and enabling quick innovation in response to market evolution.

Omni-channel interactions

Consumers need and, hence, wish to interact with a particular brand in an across-channel seamless way. This is what has thrust businesses toward an omni-channel strategy within the digital experience platforms. This approach is aimed at the delivery of unified customer journeys whereby a user receives consistent messages and experiences regardless of the channel used: website, mobile app, social media, or in-store interaction. Such interactions eventually propels the growth of the digital experience platform market.

Data privacy

As the laws on data privacy become tougher every day, digital experience platforms are finding their center in compliance and security. Companies are leaning towards making data governance robust for the safety of customer information and being transparent and trustworthy while remaining compliant with laws like the General Data Protection Regulation (GDPR) and, in truth, the California Consumer Privacy Act, which, in turn, boosts brand reputation.

Digital Experience Platform Market Trends

The growth of the market is driven by factors like its ability to help understand the customer's instant requirements, decreasing client churn rates, increasing cloud-based solutions deployment, and increasing demand for big data analytics. Other factors that support the digital experience platform industry revenue include the increasing use of advanced techniques such as AI, data analytics, and cloud computing.

Sustainability has become a key focus with consumers and is forcing brands to turn more eco-friendly and reduce their carbon footprint. This also indicates using sustainable materials and wasting less of them but ensuring that they are sourced ethically. As people learn more about climate change, it's not surprising that businesses showing environmental responsibility often have higher customer loyalty and market share.

While personalization is changing customer experiences, businesses are leveraging data and technology to personalize products and services to each individual's preference. It can range from personalization of marketing campaigns to customizable products. On a greater level, by providing a more relevant and engaging experience for the customers on the digital platforms, companies build more authentic relationships with them that help improve their satisfaction and loyalty in the long term. These digital experience platform market dynamics and trends are changing the way businesses engage with consumers.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Digital Experience Platform Industry Segmentation

“Digital Experience Platform Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

The industry can be divided based on the components:

• Platform 

• Services     
  • Professional Services
  • Managed Services

The industry can be divided based on its deployment type:

• On-Premises

• Cloud

The industry can be broadly categorised based on its application sectors into:

• IT and Telecom

• BFSI 

• Retail 

• Healthcare 

• Manufacturing 

• Travel and Hospitality 

• Media and Entertainment 

• Public Sector 

• Others

Market Breakup by Region:

• North America

• Latin America

• Europe 

• Middle East and Africa

• Asia Pacific

Digital Experience Platform Market Share

Cloud Deployment To Gain Traction For Its Cost-Effectiveness And Seamless Integration

Based on deployment type, the cloud segment is likely to garner a significant growth rate during the forecast period. Due to its cost-effectiveness and trouble-free integration, the cloud segment is anticipated to grow at a greater CAGR during the forecast period.

It reduces the costs of infrastructure for businesses since they only pay for what they will use. In addition, this cloud solution brings flexibility through scaling, which is not a problem to perform in the case of changeable demand. Enhanced collaboration and efficiency are achieved because of the seamless integration of different applications and tools involved in the work of the team. With a growing organizational emphasis on agility and cost savings, cloud deployment becomes a strategic choice in striving toward operational excellence and in propelling the demand of digital experience platform market.

Managed Services Segment To Gain Traction For Better Customer Management

In the forecast period, the managed services segment is anticipated to have a bigger market volume than the professional services segment as it helps customers manage both on-site and cloud digital experience platform activities.

Businesses have now begun outsourcing complex IT tasks to professionals so that they can hold their attention on the core operations. Managed services offer customized solutions to ensure optimal digital platform performance, security, and scalability. This results in an increase in the digital experience platform market revenue. It is through this way that customer interactions become more personalized and with quicker response times. Accordingly, managed services become a crucial element in the achievement of seamless digital experiences by organizations that seek to enhance customer engagement and satisfaction.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Digital Experience Platform Market Regional Analysis

Rapid Digital Transformation And Use Of Advanced Technology To Boost Demand In North America And Asia Pacific

North America and Asia Pacific region are expected to gain huge growth in the digital experience platform market owing to rapid digital transformation and growing adoption of advanced technologies. North American businesses are heavy on investment in the digital experience platform for companies to drive customer engagement and operational efficiency.

On the other side, the Asia Pacific region is booming for its digital economy, as Internet penetration and mobile usage rates rise, consequently leading to demand for integrated solutions. Further to this, both regions are moving to personalized experiences, further pushing growth of digital experience platform market.

Competitive Landscape

The key players in the digital experience platform market have been coming up with new product launches, innovative technologies, improved user interfaces, and integrated AI-driven characteristics, to focus on personalized customer experiences and thus live up to the changing needs.

Adobe Inc. is headquartered in San Jose, California, and was founded in December 1982. It has an end-to-end product suite under Adobe Experience Cloud with Adobe Experience Manager, Adobe Analytics, Adobe Campaign, and Adobe Target for enhancing digital customer experiences.

Oracle Corporation, established in 1977, and headquartered in Austin, has offerings in Oracle CX Cloud, comprising products such as Oracle Content and Experience Cloud, Oracle Marketing Cloud, and Oracle Service Cloud in the area of customer experience management.

International Business Machines Corporation (IBM) is based in Armonk, New York. Established on June 16, 1911, it helps its clients in integrated digital experience through a product portfolio called IBM Watson Marketing and IBM ExperienceOne.

Other key players considered in the global digital experience platform market report are SAP SE, Microsoft Corporation, and Salesforce.com, Inc., among others.

Key Highlights of the Report

Digital Experience Platform Market Report Snapshots

Digital Experience Platform Market Size

Digital Experience Platform Market Growth

Digital Experience Platform Market Trends

Digital Experience Platform Market Share

Digital Experience Platform Companies

Digital Experience Platform Market Regional Analysis