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2024

Digital Experience Platform (DXP) Market

Digital Experience Platform (DXP) Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, by Deployment Mode, by Application, by Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2024-2032

IC : High Tech, Enterprise & Consumer IT

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Author's: Akanksha Pandey | Onkar Sumant
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Digital Experience Platform (DXP) Market Research, 2032

The global digital experience platform (DXP) market was valued at $11.2 billion in 2023, and is projected to reach $41.7 billion by 2032, growing at a CAGR of 16.1% from 2024 to 2032. The digital experience platform (DXP) market is a dynamic and rapidly evolving sector within the technology industry that encompasses a wide range of software solution and services designed to help organizations create, manage and optimize digital experience for their customers.

Digital Experience Platform (DXP) Market

Market Introduction and Definition 

DXP are comprehensive platforms that integrate various digital tools and technologies, such as content management system, customer relationship management software, e-commerce platform, analytics tools, and more to enable businesses to deliver personalized, engaging and consistent experiences across multiple digital channels. Moreover, organizations  are increasingly recognizing the importance of providing exceptional digital experience to their customers engagement, and build brand loyalty. As a result, the demand for DXP solution is on the rise, with businesses across industries investing in these platforms to enhance their online presence, improve customer interactions, and drive business growth. Key drivers of DXP market include the growing focus on customer experience, the proliferation of digital touchpoints, the need for seamless omnichannel experiences, and the rise of data-driven marketing strategies. 

Key Takeaways 

  • The digital experience platform (DXP) market study covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period and digital experience platform market forecast.

  • More than 1,500 product literatures, industry releases, annual reports, and other such documents of major digital experience platform (DXP) industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value DXP industry insights and digital experience platform market size.

  • The study integrated high-quality data, professional opinions and digital experience platform market analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives. 

Key market dynamics 

The industry's trend is significantly shaped by a number of important drivers, constraints, and opportunities in the rapidly evolving digital experience platform market. Initially, one major factor propelling the market for digital experience platforms is the growing emphasis on improving consumer experiences. In today's competitive business environment, businesses are learning it is important to provide individualized, seamless, and engaging digital encounters in order to draw in and keep customers. Additionally, the adoption of digital experience platforms continues to be driven by the continuous efforts to restructure industries through digital means. Businesses are spending money on these platforms in order to improve productivity, encourage teamwork, and boost the effectiveness of their digital efforts. Innovation in digital experience platforms gets driven by technical developments like artificial intelligence and data analytics, which allow organizations to successfully improve their digital experiences and acquire deeper insights into customer behavior. The market is limited by obstacles such as integration difficulties, even with the development prospects. Organizations seeking to effortlessly deploy digital experience platforms may encounter challenges due to the intricacy of integrating these solutions with current systems and procedures. Businesses are also severely constrained by security issues related to data privacy and compliance, which highlights the necessity of strong security measures to safeguard sensitive data. Promising potential exist for the industry for digital experience platforms notwithstanding these challenges. For platform providers, the growing need for individualized and customized digital experiences offers a substantial development opportunity. Providers are able to satisfy their consumers by adapting their offerings to their individual requirements and preferences through the use of tools and modification capabilities. Additionally, the development of digital technology in developing nations creates new opportunities for market penetration and growth. Growing demand for enhanced digital experience solutions as organizations in these regions embrace digital transformation presents a ripe opportunity for innovation and market expansion. In conclusion, organizations are able to successfully navigate the market for digital experience platforms to promote growth and success by utilizing the drivers, resolving the constraints, and grabbing opportunities. 

Parent Market Overview 

The Customer Experience Platform (CXP) market encompasses a wide range of technologies and solutions designed to enhance customer interactions, engagement, and overall satisfaction across various touchpoints and channels. CXP platforms aim to provide organizations with the tools and capabilities to deliver seamless, personalized, and consistent experiences to their customers throughout their journey. These platforms typically integrate multiple systems, data sources, and communication channels to enable businesses to better understand, engage, and serve their customers in a more effective and efficient manner. Within the CXP market, the Digital Experience Platform (DXP) is a subset that specifically focuses on digital touchpoints and interactions between businesses and customers. DXPs are comprehensive solutions that combine content management, digital marketing, e-commerce, analytics, and other capabilities to create and deliver engaging digital experiences across websites, mobile apps, social media, and other digital channels. By leveraging data and insights, DXPs enable organizations to tailor content, offers, and interactions to individual customer preferences, behaviors, and needs, ultimately driving greater engagement, loyalty, and conversions. 

The DXP market is a subset of the broader CXP market because it primarily addresses the digital aspects of customer experience management, while CXP platforms encompass a wider scope that includes both digital and non-digital touchpoints. While DXPs focus on delivering personalized and contextual digital experiences, CXP platforms take a more holistic approach by integrating digital interactions with offline touchpoints such as in-store experiences, customer service interactions, and other physical engagements. This broader view allows CXP platforms to provide a unified and consistent experience across all customer interactions, regardless of the channel or context. DXPs are a critical component of CXP platforms, offering organizations the technology and tools needed to create compelling digital experiences that drive customer engagement and loyalty. By leveraging DXPs within a CXP framework, businesses can effectively manage customer journeys, optimize interactions, and deliver seamless experiences that meet and exceed customer expectations. As organizations continue to prioritize customer experience as a key differentiator in a competitive market landscape, the demand for both CXP and DXP solutions is expected to grow, driving innovation and transformation in how businesses engage with their customers in the digital age. 

Market Segmentation 

The digital experience platform (DXP) market is segmented into component, deployment mode, application, industry vertical and region. On the basis of component, the market is divided into platform and services. As per deployment mode, the market is bifurcated into on-premise and cloud. Depending on application, the market is segregated into B2C, B2B and B2E. On the basis of industry vertical, the market is divided into retail, ?BFSI, travel and hospitality, IT and telecom, healthcare, manufacturing and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

Regional/Country Market Outlook 

Due to the region's robust digital presence, sophisticated technology infrastructure, and high rates of business adoption of digital experience platforms, North America accounted for the largest market share in the DXP industry. North American businesses are seeking to improve their online consumer experiences in order to stay ahead of the competition and are early adopters of cutting edge technologies. Further boosting the region's market share in North America are the several well-known IT firms and digital agencies that provide experience in deploying and maximizing DXP solutions. However, during the course of the forecast period, it is expected that the DXP market's Asia-Pacific sector will develop at the fastest rate. The fast digital transformation occurring in the Asia-Pacific region across a range of industries can be ascribed to this growth. In order to boost customer interaction, increase operational efficiency, and increase their online presence, businesses in nations like China, India, Japan, and South Korea are investing continuously in digital technologies. Digital experience platforms that offer smooth and customized client experiences are in high demand due to the region's increasing internet penetration, smartphone usage, and e-commerce activity. In addition, the Asia-Pacific area has a large and diversified market with unrealized potential, which attracts DXP vendors seeking to grow their regional presence and meet the changing demands of local companies of digital experience platform industry.

  • In April 2024, Contentstack, the leading Composable Digital Experience Platform (DXP) provider, partnered with Google Cloud in the U.S. This partnership expands the addressable market for composable digital experiences, providing global brands with even greater options for how they create, manage, and deliver solutions. This presence simplifies the process for Google Cloud customers to discover and procure Contentstack as part of their existing Google Cloud invoice. 

  • In December 2022, Oracle announced the opening of an Oracle Cloud Region in Chicago, Illinois. Continuing one of the fastest expansions of any major cloud provider, Oracle’s 41st global region and fourth in the U.S. offers customers and partners a new option to locate their infrastructure, applications, and data for optimal performance and latency. The Oracle Cloud Chicago Region gives public and private sector customers and partners based in the U.S. Midwest access to a wide range of cloud services to modernize their applications, innovate with data and analytics, and migrate mission-critical workloads from their data centers to Oracle Cloud Infrastructure (OCI) . 

  • In September 2022, KeyBank, one of the U.S.’s largest financial services companies, modernized its non-real estate consumer lending process with Oracle. KeyBank provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states through a network of 1, 000 branches. With Oracle Banking Originations, the bank are able to offer service loan accounts in real-time from the initial application through to payments and collections, helping eliminate delays, and improve customer service. 

  • In August 2021, IBM and Adobe expanded their strategic alliance, an extension of their successful 20-year services partnership, making IBM one of Adobe’s top global services and technology partners. Over the course of this partnership, IBM collaborated to combine Adobe’s world-class digital business solutions to drive digital commerce innovation experiences for new and prospective customers. To meet changing customer demands and expectations—and set a new bar for B2C and B2B digital commerce—IBM Sterling® Order Management and Adobe Commerce worked together to create a new connector that provides a direct integration between their  solutions. 

Industry Trends: 

  • In September 2023, Deceuninck, a leading global player in window and door profiles, decided to boost its Customer Experience through a strategic partnership with AmeXio & Adobe. This collaboration prioritizes the orchestration of seamless customer journeys, resulting in increased customer engagement and more qualitative partner referrals. By choosing Adobe Experience Manager as the foundational platform, Deceuninck gains the assurance of a robust native SaaS DXP solution that is tailored for growth and equipped to address the distinctive challenges of a B2B2C environment. 

  • In March 2023, the world’s largest Digital Experience Conference, Prada Group partnered with Adobe, to enable real-time personalization and increase revenue, elevating the global luxury group’s customer experiences across all digital and physical retail properties. The partnership spans Prada Group’s range of brands, including Prada, Miu Miu, Church’s, Car Shoe, Pasticceria Marchesi and Luna Rossa.  

  • In November 2022, WebEngage, a full-stack User Engagement and Retention Platform, announced appointment of seasoned tech leader Hetarth Patel as the new Vice President – MENA and Managing Director – UAE. Working closely with the founding team, Hetarth Patel will spearhead WebEngage’s growth aspirations in MENA, a region that is starting to adopt a retention-led approach. Hetarth brings more than 20 years of experience in the Information Communication Technology (ICT) industry, where he has led strategy, organization building and global business expansion. 

Competitive Landscape 

The major players operating in the digital experience platform industry include Adobe, Oracle, SAP SE, IBM, Microsoft, and  Salesforce Inc. Other players in digital experience platform (DXP) market include Acquia, Bloomreach, CoreMedia and HCL and so on. 

Recent Key Strategies and Developments 

  • In November 2021, Minerva Visuals partnered with Bloomreach to help businesses around the world to grow and improve their customer experience. Bloomreach Experience Cloud (brX) is built especially to deliver B2B and B2C commerce experiences. It is the only solution that combines a modern, API-first ‘headless’ experience solution with personalization and optimization technology built on modern microservices architecture as brX can deliver relevant, contextual, and consistent customer experiences across all the touchpoints.  (websites, apps, devices) . 

  • In November 2020, Bloomreach, a leading Digital Experience Platform (DXP) , partnered with Exponea, the Customer Data and Experience Platform (CDXP) , to offer more enhanced digital commerce experiences to the market. The partnership provides their joint clients with a more personalized and sophisticated e-commerce solution, combining Bloomreach’s rich catalog of DXP capabilities with Exponea’s customer-centric approach to unifying data. 

Key Sources Referred 

  1. Synchronoss.com 

  1. spiceworks.com

  2. Skillnetinc.com 

  3. Infosys.com 

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the DXP market size,  segments, current trends, estimations, and dynamics of the digital experience platform (DXP) market analysis to identify the prevailing market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities and digital experience platform market share.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the digital experience platform (DXP) market segmentation assists to determine the prevailing market opportunities and digital experience platform market size.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global digital experience platform (DXP) market trends, key players, market segments, application areas, and digital experience platform market growth strategies.

Digital Experience Platform (DXP) Market Report Highlights

Aspects Details
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Market Size By 2032

USD 41.7 Billion

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Growth Rate

CAGR of 16.1%

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Forecast period

2024 - 2032

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Report Pages

321

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By Component
  • Platform
  • Services
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By Deployment Mode
  • On-premise
  • Cloud
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By Application
  • B2C
  • B2B
  • B2E
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By Industry Vertical
  • Retail
  • BFSI
  • Travel and Hospitality
  • IT and Telecom
  • Healthcare
  • Manufacturing
  • Others
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By Region
  • North America  (U.S., Canada)
  • Europe  (France, Germany, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

BloomReach, Acquia, Inc., HCL Technologies, Microsoft, Adobe, SAP SE, Salesforce Inc.,, CoreMedia, International Business Machine Corporation, Oracle

Author Name(s) : Akanksha Pandey | Onkar Sumant

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Digital Experience Platform (DXP) Market

Global Opportunity Analysis and Industry Forecast, 2024-2032