Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Digital Experience Platform Market size was over USD 9.61 billion in 2024 and is poised to reach USD 31.18 billion by the end of 2037, witnessing around 9.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of digital experience platform is assessed at USD 10.34 billion.
The popularity of digital technologies such as the Internet of Things (IoT), artificial intelligence (AI), machine learning, and cloud computing is increasing in a variety of industries. These digital technologies provide businesses with the ability to collect and analyze data quickly, enabling them to make better decisions and drive more efficient operations. As a result, businesses are increasingly relying on digital experience platforms to deliver a better customer experience.
DXPs are powerful tools for businesses to create a seamless customer journey and provide personalized experiences. As such, startups in this space are investing heavily in research and development to create more efficient and powerful DXPs. An investment of USD 40 Million by Expedition Growth Capital (EGC) was made by Kontent.ai to develop AI solutions for its Content Management System (CMS).
Global Digital Experience Platform Sector: Growth Drivers and Challenges
Growth Drivers
- Rising Demand for Streamline Services and Podcasts - Over 418 million people listen to podcasts worldwide, with 122 million in the U.S. By 2023, there are expected to be over 155 million podcast listeners worldwide. Consumers are looking for a more streamlined experience when it comes to entertainment and media consumption. This is leading to increased demand for DXPs that allow users to access podcasts, streaming services, and other content quickly and easily.
- Growing Registrations of Web Hosting Services - The number of top-level domains registered was over 369 million in the third quarter of 2020, while there were over 320,000 providers of web hosting services. As businesses of all sizes turn to the web for their digital presence, the demand for web hosting services is increasing. This increased demand will drive the need for DXPs.
- Emergence of The Wide Web 2.0 Technologies - Web 2.0 technologies allow users to interact and collaborate in a dynamic, interactive online environment. This enables users to create and share content, including blogs, wikis, and social networking sites, which in turn helps to create a more personalized digital experience.
Challenges
- Judgments are based on guesswork instead of data - Businesses cannot often collect, interpret, and act on customer data. Without the insight this data provides, decisions about the platform are based on assumptions rather than facts. This can lead to costly mistakes and delays in launching the platform.
- High implementation costs, and security concerns
- Complex process of integration
Digital Experience Platform Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
9.4% |
|
Base Year Market Size (2024) |
USD 9.61 billion |
|
Forecast Year Market Size (2037) |
USD 31.18 billion |
|
Regional Scope |
|
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Customize this ReportGlobal Digital Experience Platform Industry - Regional Synopsis
North America Market Forecast
In North America, the digital experience platform market will hold a share of about 37% by 2037. Several startups and SMEs are leveraging digital experience platforms to improve customer experiences in the region. For instance, in March 2022, a partnership between IBM Corporation and Adobe, Inc. was expanded for the development of AI-driven weather data and Adobe experience platforms. This can be attributed to the presence of a well-established IT infrastructure, the increasing acceptance of digital transformation initiatives, and the growing focus of companies on improving customer experience.
Asia Pacific Market Analysis
Digital experience platforms will be a significant part of the Asia Pacific market by 2037 with a share of 27 percent. Data-driven decision-making is becoming increasingly important in the region as digitization increases. From USD 190 billion to over USD 220 billion in FY22, the digital economy in India has grown by more than 15%. According to current growth rates, the digital industry will reach USD 390 billion in 2027. DXPs allow businesses in the region to quickly and cost-effectively create and manage digital experiences for customers.
Top Featured Companies Dominating the Global Digital Experience Platform Market
- Acquia Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- International Business Machines Corporation
- Liferay, Inc.
- Open Text Corporation
- Sitecore
- Adobe Inc.
- Oracle Corporation
- SAP SE
- IBM Corporation
- Microsoft Corporation
In the News
- Oracle Fusion Cloud Human Capital Management (HCM) is the comprehensive human capital management system chosen by the Bank of Thailand (BOT) to promote an employee-centered digital workforce. Using Oracle Cloud HCM, the BOT can automate processes and improve workflow.
- In addition to expanding its partner ecosystem, Adobe announced that it will accelerate content velocity and create seamless customer journeys, improving the customer experience for millions of people as a result. This will enable them to provide a better user experience, resulting in increased customer loyalty and satisfaction.
Author Credits: Abhishek Verma
- Report ID: 4968
- Published Date: Oct 14, 2024
- Report Format: PDF, PPT
