According to a research report "Digital Experience Platform Market growth is driven by understanding the immediate needs of the customer, reducing the customer churn rate, growing deployment of cloud-based solutions, and rising demand for big data analytics. The other factors supporting the market growth include the increasing implementation of advanced technologies, such as AI, data analytics, and cloud computing. - Global Forecast to 2024" published by MarketsandMarkets. The Digital Experience Platform (DXP) market to grow from USD 7.9 billion in 2019 to USD 13.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 12.0% during the forecast period.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=234793101
The cloud segment to constitute a larger
market size during the forecast period
By deployment type, the Digital
Experience Platform Market has been segmented into cloud and on-premises. The
cloud segment is expected to grow at a higher CAGR during the forecast period,
due to its cost-efficiency and hassle-free integration. Various enterprises
prefer cloud services due to their wide-ranging benefits. Small and Medium
Enterprises (SMEs) adopt the cloud model, as it helps reduce initial IT costs,
such as the costs of hardware setup and power consumption and requires less
physical space. Large enterprises can benefit from the cloud services, as they
can host their large number of applications in the cloud network, which eases
application management. With cloud, enterprises can achieve improved
collaboration, along with faster performance, quick responsiveness, and greater
agility, without having to operate a server infrastructure. The cloud
deployment type offers customers a usage-based service model with the
pay-per-use facility.
The managed services segment to grow at a
higher CAGR during the forecast period
By services, the managed
services segment is expected to hold a larger market size than the professional
services segment during the forecast period as they help clients handle DXP
operations on-premises as well as on the cloud. The prime responsibility of the
managed services providers is to improve the efficiency of inbound and outbound
operations cost-effectively for enterprises. Managed services assist clients in
outsourcing the DXP to service providers for efficiently managing their key
business operations. These services are very useful for companies, which do not
have internal budgets or analytical skills to implement and manage the Customer
Experience (CX) solution. The managed service providers handle end-to-end
deployment and after sales services for the solutions.
Request a Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=234793101
North
America to account for the largest market size during the forecast period.
The
geographic analysis of the Digital Experience Platform Market includes 5 major
regions, namely, North America, Asia Pacific (APAC), Europe, Latin America, and
the Middle East and Africa (MEA). The market in North America is expected to
grow at a high rate during the forecast period, due to the rapid adoption of
advanced technologies by industries. Organizations in North America are opting
for various digital channels, such as web portals, social media, call centers,
and mobile phones to collect customer feedback data. In North America, the
demand for DXP will be the highest in the travel and hospitality vertical.
Organizations are fostering a customer-centric culture and are working to drive
customer engagement by dealing with real-time customer data. For instance,
Mercedes-Benz USA worked with Medallia to create a CX that empowers dealers to
understand and respond to customer-generated feedback instantly.
Key
Digital Experience Platform Market Players
Key and
emerging market players include Adobe Systems (US), Oracle (US), SAP (Germany),
IBM (US), Microsoft (US), Salesforce (US), OpenText (Canada), SDL (UK),
Sitecore (US), Acquia (US), Jahia (Switzerland), Episerver (US), Squiz
(Australia), BloomReach (US), Liferay (US), Kentico (Czech Republic), and
censhare (Germany). These players have adopted various strategies to grow in
the DXP market.
About
MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth
niche opportunities/threats which will impact 70% to 80% of worldwide
companies’ revenues. Currently servicing 7500 customers worldwide including 80%
of global Fortune 1000 companies as clients. Almost 75,000 top officers across
eight industries worldwide approach MarketsandMarkets™ for their painpoints
around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking
global high growth markets following the "Growth Engagement Model –
GEM". The GEM aims at proactive collaboration with the clients to identify
new opportunities, identify most important customers, write "Attack, avoid
and defend" strategies, identify sources of incremental revenues for both
the company and its competitors. MarketsandMarkets™ now coming up with 1,500
MicroQuadrants (Positioning top players across leaders, emerging companies,
innovators, strategic players) annually in high growth emerging segments.
MarketsandMarkets™ is determined to benefit more than 10,000 companies this
year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research ahead of
the curve.
MarketsandMarkets’s flagship competitive intelligence and market research
platform, "Knowledge Store" connects over 200,000 markets and entire
value chains for deeper understanding of the unmet insights along with market
sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
No comments:
Post a Comment