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According to a new report Global Digital Experience Platform Market, published by KBV Research, The Global Digital Experience Platform Market size is expected to reach $15.7 billion by 2025, rising at a market growth of 10.5% CAGR during the forecast period. The growth of the market is expected to be driven by the increased tendency of companies to develop customer-centric strategies to deliver superior customer interaction. In addition, the implementation of digital platforms by large multi-national companies (MNCs) and small and medium-sized enterprises (SMEs) as the main channel for customer service and engagement is also expected to propel the adoption of Digital Experience Platforms (DXPs).
Due to the rapid deployment capability and decreased investment in physical infrastructure, the cloud segment is expected to gain momentum over the forecast period due to the growing preference for cloud-based DXPs. Due to their wide-ranging advantages, various companies favor cloud services.
The Business-to-Consumer market dominated the Global Digital Experience Platform Market by Application 2018, growing at a CAGR of 9.4 % during the forecast period. The Business-to-Business market showcases prominent growth rate of 11.2% during (2019 - 2025). Additionally, The Others market is expected to witness highest CAGR of 11.5% during (2019 - 2025).
The retail segment was dominant in the overall market during 2018. The market dominance has been attributed to factors like customer-centric approach and an extended focus on improved customer engagement and interaction, providing customized products, and adoption of a customer specific pricing strategy. The BFSI market is experiencing growth rate of 9.5% during (2019 - 2025). Additionally, The Healthcare market is witnessing a growth rate of 12.3% during (2019 - 2025).
North America was the dominating region in 2018. It is the center to various leading providers of digital experience platforms, like Microsoft Corporation; Adobe; Oracle Corporation; and, salesforce.com, Inc. among others. Companies are implementing DXPs to build marketing campaigns that focus on consumers. The Europe market is expected to witness a CAGR of 9.7% during (2019 - 2025). Additionally, The Asia Pacific market is expected to witness a CAGR of 12.4% during (2019 - 2025).
Structural Insights: https://www.kbvresearch.com/digital-experience-platform-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Salesforce.com, Inc., Adobe, Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Acquia, Inc., Liferay, Inc., Sitecore, Inc. and Open Text Corporation.
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