LONDON, Sept. 21, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the digital experience platform market, 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 example, according to a Gartner survey conducted in April 2021, public cloud services are expected to grow by 23.1% to $332.3 billion in 2021, up from $270 billion in 2020, to meet the demand for 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’s growth.
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The global digital experience platform market size is expected to grow from $9.69 billion in 2021 to $10.91 billion in 2022 at a compound annual growth rate (CAGR) of 12.55%. The global digital experience platform industry size is expected to reach $17.58 billion in 2026 at a CAGR of 12.67%.
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 March 2019, Adobe, an American multinational computer software company, launched its innovative AI-powered Adobe Experience Platform for customer experience management. This AI-powered technology includes stitching unstructured data together under a common language.
Major players in the digital experience platform market are Adobe Systems, Oracle, SAP, IBM, Microsoft, Salesforce, Open Text, SDL, Sitecore, Acquia, Liferay, Infosys, Jahia, SE, and International Business Machines Corporation.
The global digital experience platform market is segmented by component into platform, services; by deployment into the cloud, on-premises; by application into business-to-consumer, business-to-business, others; by vertical into retail, BFSI, travel and hospitality, IT and telecom, healthcare, manufacturing, media and entertainment, public sector, others; by organization size into large enterprise, small and medium enterprise.
North America was the largest region in the digital experience platform market in 2021. Asia-Pacific is expected to be the fastest-growing region in the digital experience platform market forecast period. The regions covered in the global digital experience platform market research report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Digital Experience Platform Market Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide digital experience platform market overviews, analyze and forecast market size and growth for the whole market, digital experience platform market segments and geographies, digital experience platform market trends, digital experience platform market drivers, digital experience platform market restraints, digital experience platform market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also provides an in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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