Analyzing Digital Experience Platform (DXP) market growth: Cutting-edge technology and cloud computing hold key

At a compound annual growth rate (CAGR) of 12.55 percent, the global digital experience platform (DXP) market is anticipated to increase from $9.69 billion in 2021 to $10.91 billion in 2022. According to ResearchAndMarkets report, the market for digital experience platforms is projected to reach $17.58 billion in 2026 at a CAGR of 12.67%.

The market for digital experience platforms is anticipated to grow due to the increasing adoption of cloud-based services. The goal of cloud adoption is to reduce costs and hazards while increasing the scalability of internet-based database capabilities. Organizations employ cloud computing or remote computers connected to the internet to store, manage, and process necessary data, to achieve this.

The market for digital experience platforms (DXP) consists of the sales of these products by organizations, sole proprietors, and partnerships. A digital experience platform is an integrated software framework that controls digital experiences across numerous platforms.

The goal of the digital experience platform (DXP) is to offer a centralized method for developing, managing, and optimizing the digital journey and content development. Content management, asset management, commerce, customer relationship management, and analytics are all included in digital experience platforms.

Platforms and services comprise the bulk of the digital experience platform (DXP). It provides specialized technology-oriented solutions by combining software, hardware, networks, telecommunications, and electronics processes and operations. According to the report, the services in this section refer to those that make it easier for consumers to use technology.

The DXPs are implemented for Business-to-Consumer (B2C), Business-to-Business (B2B), and other applications over the cloud and on-premises. Both large and small and medium-sized businesses use these platforms among different business categories. Retail, BFSI, travel & hospitality, IT & telecom, healthcare, manufacturing, media & entertainment, public sector, and other industries are significant verticals employing DXPs.

Technological advancement is a key trend in the digital experience platform (DXP) market

A crucial trend that is becoming increasingly popular in the market for digital experience platforms is technological advancement. Major players in the market for digital experience platforms are concentrating on offering a platform with cutting-edge technology and related solutions to improve their market position.

To enable businesses to design and deliver enterprise digital experiences more quickly and consistently, these companies are integrating next-generation digital experience platforms and technologies into their services. These technologies include big data analytics, artificial intelligence, machine learning, cloud computing, workflow analytics, multichannel assistance, and others.

Growing DXP market by region

In 2021, the North American market for digital experience platforms was the largest. The region with the quickest growth is anticipated to be Asia-Pacific during the projection period. The digital experience platform market study includes information on the Asia-Pacific, Western and Eastern Europe, North and South America, Middle East, and African regions.

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