Digital Experience Platform Market Trends

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