According to a new report Global Multiexperience Development Platforms Market, published by KBV research, The Global Multiexperience Development Platforms Market size is expected to reach $20.6 billion by 2026, rising at a market growth of 21.8% CAGR during the forecast period.
The platforms segment showed the largest overall revenue share of about 69.4% in the year 2019. The segment comprises artificial intelligence, analytics and machine learning; product information management; digital asset management; web content management; and others. The services segment is expected to increase at a good CAGR from the year 2020 to 2026. The progress of the services segment can be accredited to the increasing popularity of outsourcing services to solution providers to improve customer experiences and pace-up their transactional, and critical operations.
The on-premise segment has the largest revenue share of the overall MXDP market in the year 2019. The high revenue share is primarily accredited to the investments by renowned enterprises for in-house platform deployment. The cloud deployment segment is expected to increase at a significant CAGR from the year 2020 to 2026. The growing popularity of cloud computing is anticipated to boost the segmental growth. Further, agility, low investment cost, and scalability that are offered by the cloud deployment model also have a positive impact on the growth of the cloud segment.
North America has the largest revenue share of the market in the year 2019 and is expected to continue its control over the foreseeable period. The dominance of the region can be accredited to the presence of key companies in the region. The Asia Pacific region is likely to expand at the highest CAGR from 2020 to 2026. The growing industry verticals like IT and telecom, Healthcare, BFSI, others are anticipated to support the growth of the market in this region. Also, the growing number of small and mid-size enterprises in these regions is likely to boost the market growth over the forecast period.
Structural Insights: https://www.kbvresearch.com/multiexperience-development-platforms-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 Microsoft Corporation, IBM Corporation, Oracle Corporation, SAP SE, Siemens AG (Mendix), Salesforce.com, Inc., Pegasystems, Inc., ServiceNow, Inc., Appian Corporation, and Progress Software Corporation.
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