Digital Experience Platform Market to Grow by More than 19% CAGR
The digital experience platform market is projected to grow from US$ 10.1 Bn in 2020 to US$ 21 Bn by 2031, at an expected CAGR of 19.6% during the forecast period 2021-2031. Digital Experience Platform (DXP) is a platform that allow users to control and optimize their customers’ digital experiences across a vast range of digital touchpoints.
These platform are used by organizations to deploy, build, and to upgrade their portals, websites, and other digital experiences. Customer data are collected and aggregated across a range of digital channels with the help of DXPs. Digital channels like web, mobile, and social media are now the dominant ways, where customers can interact with companies
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Asia-Pacific Demand Outlook for Digital Experience Platform Market
Asia-Pacific is going to witness the highest growth during the forecast period 2021-31 as there is an increase in adoption of technologies like cloud computing, Artificial Intelligence (AI) and analytics. Growing economy countries India and China are implementing the latest technologies.
Customers in India and China are rapidly adopting web and mobile shopping applications, this is one of the major factor fueling the growth of digital experience platform (DXP).
What are the Key Trends for Digital Experience Platform Market?
There is an increase in growing inclination for cloud-based DXPs from companies, as the platform has a reduced investments in physical infrastructure and rapid deployment capability. Various enterprises are preferring cloud services owing to their wide-ranging advantages.
SMEs as well as large enterprises are adopting the cloud-based model to reduce initial IT costs like power consumption and hardware setup. Also, the cloud based model enable hosting of large number of applications in the cloud network to ease application management. Thus, the increasing adoption of cloud based DXPs is driving the growth of market.
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Who are the Key Digital Experience Platform Vendors?
Some of the leading vendors of digital experience platform include
• Adobe Systems
are actively involved in offering digital experience platform solutions for different applications and focusing on new product launches, strategic expansions, acquisitions, product enhancements.
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